Summary

The air-cooled heat exchanger market is projected to reach USD 5.69 billion by 2029, at a CAGR of 7.5% from USD 3.96 billion in 2024. The rapid industrialization and urbanization in countries like China, India, and various Southeast Asian nations have led to a significant rise in energy consumption and a heightened need for efficient cooling solutions. This demand is further supported by the growth of key industries, including oil and gas, power generation, and chemical manufacturing, which depend on reliable heat exchange systems to enhance operational efficiency. Moreover, government initiatives aimed at promoting energy conservation and sustainable practices are encouraging investments in cutting-edge heat exchanger technologies. The region's conducive climate, which requires effective cooling solutions, also plays a role in the increasing preference for air-cooled heat exchangers.
“Based on structure, non-ducted is expected to be the second fastest growing market during the forecast period, in terms of value.”
Non-ducted air-cooled heat exchangers are experiencing rapid growth and are recognized as the second fastest-growing structure in the air-cooled heat exchanger market due to their inherent advantages and increasing applications across various industries. Their design eliminates the need for ductwork, which simplifies installation and reduces overall system costs. This type of heat exchanger is particularly appealing for applications where space is limited or where installation flexibility is paramount. Additionally, non-ducted systems provide efficient heat transfer with lower pressure drops, resulting in energy savings and improved performance.
Based on type, forced draft is expected to be the third fastest growing market during the forecast period, in terms of value.”
Forced draft air-cooled heat exchangers are identified as the third fastest-growing type in the air-cooled heat exchanger market due to their efficient cooling capabilities and versatility in various industrial applications. This type utilizes fans to push ambient air over the heat exchange surface, enhancing heat transfer efficiency and ensuring effective cooling even in high ambient temperatures. Their design allows for a compact footprint, making them suitable for space-constrained environments. The growing demand for energy-efficient solutions in sectors such as oil and gas, chemical processing, and power generation has propelled the adoption of forced draft systems, as they help reduce operational costs and improve energy savings. Moreover, advancements in fan technology and control systems have further optimized the performance of forced draft air-cooled heat exchangers, increasing their appeal.
Based on material, carbon steel is expected to be the third fastest growing market during the forecast period, in terms of value.”
Carbon steel air-cooled heat exchangers are emerging as the third fastest-growing material in the air-cooled heat exchanger market, primarily due to their favorable combination of strength, cost-effectiveness, and durability. Carbon steel offers excellent mechanical properties, making it suitable for a wide range of industrial applications where robust performance is essential. Its relatively low cost compared to other materials, such as stainless steel or titanium, makes it an attractive option for manufacturers seeking to optimize their budgets without compromising quality. Additionally, advancements in coating technologies have enhanced the corrosion resistance of carbon steel, enabling its use in more demanding environments, including those with harsh operating conditions. As industries increasingly focus on achieving a balance between performance and cost-efficiency, the demand for carbon steel air-cooled heat exchangers continues to rise, solidifying their position as a preferred choice in the market.
Based on capacity, 201-500 KW is expected to be the second fastest growing market during the forecast period, in terms of value.”
The growth of air-cooled heat exchangers in the 201-500 kW capacity range is driven by several interconnected factors that enhance their attractiveness across various industries. This capacity range is particularly well-suited for high-demand applications in sectors such as oil and gas, petrochemicals, and power generation, where efficient heat transfer is essential. Air-cooled heat exchangers are designed to operate effectively in high-temperature and high-pressure conditions, making them ideal for industries that require robust solutions to manage thermal loads efficiently.
“Based on end-use industry, power generation is the second fastest market during the forecast period, in terms of value.”
The power generation industry is the second fastest-growing end-use sector in the air-cooled heat exchanger market due to several compelling factors. One primary driver is the industry's need for efficient thermal management solutions, particularly as power plants seek to enhance their operational efficiency and reduce environmental impact. Air-cooled heat exchangers are increasingly favored because they eliminate the need for water, making them particularly suitable for regions facing water scarcity or stringent regulations regarding water consumption. Additionally, as the energy landscape shifts towards renewable sources, such as solar and wind, power generation facilities require cooling solutions that can operate effectively under varying temperature and pressure conditions. The technological advancements in air-cooled heat exchangers have further improved their performance and reliability, allowing them to meet the demanding requirements of modern power generation systems.
“Based on region, Middle East & Africa is the second fastest growing market for air-cooled heat exchanger in 2023, in terms of value.”
The Middle East and Africa (MEA) region is the second fastest-growing area in the air-cooled heat exchanger market, driven by a combination of environmental and economic factors. The region's climate, characterized by high temperatures and limited water resources, creates a pressing need for efficient cooling solutions that do not rely on water. As industries such as oil and gas, petrochemicals, and power generation expand in the MEA, the demand for air-cooled heat exchangers has surged due to their ability to operate effectively in harsh conditions while minimizing water usage. Additionally, increasing investments in infrastructure and energy projects, along with the region's focus on sustainability and environmental regulations, are encouraging the adoption of air-cooled technologies.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the air-cooled heat exchanger market, and information was gathered from secondary research to determine and verify the market size of several segments:
• By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
• By Designation: C Level Executives– 20%, Directors – 10%, and Others – 70%
• By Region: North America – 22%, Europe – 22%, APAC – 45% and RoW- 11%
The key players in this market are ALFA LAVAL (Sweden), Kelvion Holding GmbH (Germany), Kawasaki Heavy Industries, Ltd. (Japan), Xylem (US), Exchanger Industries Limited (Canada), SPX Cooling Tech, LLC (US), SNT Energy Co., Ltd. (South Korea), Thermax Limited (India), Baker Hughes Company (US), Chart Industries (US), Armstrong International Inc. (US), and KNM Group Berhad (Malaysia).
Research Coverage
This report segments the air-cooled heat exchanger market based on structure, material, type, fin design, capacity, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, new product launches, expansions, and mergers and acquisitions associated with the air-cooled heat exchanger market.
Key benefits of buying this report
This research report focuses on various levels of analysis, including industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the air-cooled heat exchanger market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Analysis of key drivers (Increasing industrialization in emerging economies, Rising energy efficiency regulations and stringent emission standards, Growing demand due to cost-effective nature and operational advantages, Rising demand in HVAC, refining, and power generation industry), restraints (Fluctuation in raw material prices, High initial capital investment, Maintenance challenge for air-cooled heat exchanger), opportunities (Growing demand from data centers) and challenges (Noise generation from air-cooled heat exchanger, Competition from alternative technologies).
• Market Penetration: Comprehensive information on the air-cooled heat exchanger market offered by top players in the global air-cooled heat exchanger market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the air-cooled heat exchanger market.
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for air-cooled heat exchanger market across regions.
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global air-cooled heat exchanger market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the air-cooled heat exchanger market

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Table of Contents

1 INTRODUCTION 23 1.1 STUDY OBJECTIVES 23 1.2 MARKET DEFINITION 23 1.3 STUDY SCOPE 24 1.3.1 MARKETS COVERED AND REGIONAL SCOPE 24 1.3.2 INCLUSIONS AND EXCLUSIONS 25 1.3.3 YEARS CONSIDERED 25 1.4 CURRENCY CONSIDERED 26 1.5 UNIT CONSIDERED 26 1.6 STAKEHOLDERS 26 2 RESEARCH METHODOLOGY 27 2.1 RESEARCH DATA 27 2.1.1 SECONDARY DATA 28 2.1.1.1 Key data from secondary sources 28 2.1.2 PRIMARY DATA 28 2.1.2.1 Key data from primary sources 29 2.1.2.2 List of primary interview participants (demand and supply side) 29 2.1.2.3 Key industry insights 30 2.1.2.4 Breakdown of primary interviews 30 2.2 MARKET SIZE ESTIMATION 30 2.2.1 BOTTOM-UP APPROACH 31 2.2.2 TOP-DOWN APPROACH 31 2.3 FORECAST NUMBER CALCULATION 32 2.4 DATA TRIANGULATION 32 2.5 FACTOR ANALYSIS 33 2.6 RESEARCH ASSUMPTIONS 34 2.7 RESEARCH LIMITATIONS AND RISK ASSESSMENT 34 3 EXECUTIVE SUMMARY 35 4 PREMIUM INSIGHTS 39 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AIR-COOLED HEAT EXCHANGER MARKET 39 4.2 AIR-COOLED HEAT EXCHANGER MARKET, BY COUNTRY 39   5 MARKET OVERVIEW 40 5.1 INTRODUCTION 40 5.2 MARKET DYNAMICS 40 5.2.1 DRIVERS 41 5.2.1.1 Increasing industrialization in emerging economies 41 5.2.1.2 Rising energy efficiency regulations and stringent emission standards 41 5.2.1.3 Cost-effectiveness and high operational efficiency 42 5.2.1.4 Rising demand in HVAC, refining, and power generation industries 42 5.2.2 RESTRAINTS 43 5.2.2.1 Fluctuations in raw materials prices 43 5.2.2.2 High initial capital investment 43 5.2.2.3 Maintenance challenge associated with air-cooled heat exchangers (ACHEs) 44 5.2.3 OPPORTUNITIES 44 5.2.3.1 Growing demand from data centers 44 5.2.4 CHALLENGES 45 5.2.4.1 High noise generation 45 5.2.4.2 Growing use of alternative technologies 45 5.3 PORTER’S FIVE FORCES ANALYSIS 46 5.3.1 THREAT OF SUBSTITUTES 47 5.3.2 BARGAINING POWER OF SUPPLIERS 47 5.3.3 THREAT OF NEW ENTRANTS 47 5.3.4 BARGAINING POWER OF BUYERS 48 5.3.5 INTENSITY OF COMPETITIVE RIVALRY 48 5.4 KEY STAKEHOLDERS AND BUYING CRITERIA 48 5.4.1 KEY STAKEHOLDERS IN BUYING PROCESS 48 5.4.2 BUYING CRITERIA 49 5.5 MACROECONOMIC INDICATORS 50 5.5.1 GLOBAL GDP TRENDS 50 5.5.2 OIL & GAS STATISTICS 52 5.5.3 POWER GENERATION STATISTICS 53 6 INDUSTRY TRENDS 54 6.1 INTRODUCTION 54 6.2 VALUE CHAIN ANALYSIS 54 6.3 REGULATORY LANDSCAPE 55 6.3.1 REGULATIONS 55 6.3.1.1 North America 55 6.3.1.2 Europe 56 6.3.1.3 Asia Pacific 56   6.3.2 STANDARDS 56 6.3.2.1 ISO 13706:2011 56 6.3.2.2 ASME Performance Test Code (PTC) 57 6.3.2.3 American Petroleum Institute (API) Standard 661 57 6.3.2.4 EN 13445 Standard 57 6.3.3 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 57 6.4 TRADE ANALYSIS 59 6.4.1 IMPORT SCENARIO (HS CODE 841950) 59 6.4.2 EXPORT SCENARIO (HS CODE 841950) 60 6.5 ECOSYSTEM ANALYSIS 60 6.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 62 6.7 CASE STUDY ANALYSIS 63 6.7.1 SPG DRY COOLING PROVIDED SINGLE-ROW CONDENSER (SRC) AIR-COOLED CONDENSER (ACC) TECHNOLOGY TO AGE DENIZLI COMBINED CYCLE POWER PLANT TO MEET COOLING REQUIREMENTS WITHOUT WATER CONSUMPTION 63 6.7.2 ALFA LAVAL UPGRADED ACHE SYSTEM OF EUROPEAN FERTILIZER PLANT 63 6.7.3 BOLDROCCHI DESIGNED AND PRODUCED NINE HIGH-PERFORMANCE ACHES FOR COMPLEX OIL & GAS (O&G) PROJECT IN KAZAKHSTAN 64 6.7.4 DRY COOLERS, INC. PARTNERED WITH NRG ENERGY TO PROVIDE ROBUST SOLUTIONS FOR ACHES AT POWER PLANT 64 6.8 TECHNOLOGY ANALYSIS 64 6.8.1 KEY TECHNOLOGIES 65 6.8.1.1 Finned tube technology 65 6.8.1.2 Hybrid air-cooled heat exchangers (ACHEs) 65 6.8.2 COMPLEMENTARY TECHNOLOGIES 65 6.8.2.1 Phase change cooling (PCC) technology 65 6.9 KEY CONFERENCES AND EVENTS, 2024–2025 66 6.10 PATENT ANALYSIS 67 6.10.1 METHODOLOGY 67 6.10.2 DOCUMENT TYPES 67 6.10.3 PUBLICATION TRENDS IN LAST 10 YEARS 68 6.10.4 INSIGHTS 68 6.10.5 LEGAL STATUS OF PATENTS 68 6.10.6 JURISDICTION ANALYSIS 69 6.10.7 TOP APPLICANTS 69 6.11 PRICING ANALYSIS 70 6.11.1 AVERAGE SELLING PRICE TREND, BY REGION 70 6.11.2 INDICATIVE PRICING OF KEY PLAYERS, BY TYPE 71 6.12 INVESTMENT AND FUNDING SCENARIO 71 6.13 IMPACT OF GEN AI 72   7 AIR-COOLED HEAT EXCHANGER MARKET, BY TYPE 73 7.1 INTRODUCTION 74 7.2 FORCED DRAFT 75 7.2.1 LOW MANUFACTURING AND MAINTENANCE COSTS TO DRIVE DEMAND 75 7.3 INDUCED DRAFT 76 7.3.1 CAPABILITY TO EFFECTIVELY HANDLE HIGH HEAT LOADS TO FUEL DEMAND 76 7.4 OTHER TYPES 76 8 AIR-COOLED HEAT EXCHANGER MARKET, BY STRUCTURE 77 8.1 INTRODUCTION 78 8.2 DUCTED 79 8.2.1 POTENTIAL TO ENHANCE HEAT TRANSFER EFFICIENCY THROUGH IMPROVED AIRFLOW MANAGEMENT TO FUEL DEMAND 79 8.3 NON-DUCTED 79 8.3.1 EASY INSTALLATION AND MAINTENANCE FEATURES TO DRIVE DEMAND 79 8.4 OTHER STRUCTURES 80 9 AIR-COOLED HEAT EXCHANGER MARKET, BY MATERIAL 81 9.1 INTRODUCTION 82 9.2 CARBON STEEL 83 9.2.1 COST-EFFECTIVENESS, DURABILITY, AND HIGH MECHANICAL STRENGTH TO DRIVE DEMAND 83 9.3 STAINLESS STEEL 84 9.3.1 CAPABILITY TO PROTECT ACHES AGAINST CORROSION AND OXIDATION AND INCREASING FOCUS ON SUSTAINABILITY AND ENHANCING ENERGY EFFICIENCY TO DRIVE DEMAND 84 9.4 OTHER MATERIALS 84 10 AIR-COOLED HEAT EXCHANGER MARKET, BY FIN DESIGN 85 10.1 INTRODUCTION 86 10.2 L FIN 87 10.2.1 CAPABILITY TO ENHANCE THERMAL PERFORMANCE BY MAXIMIZING SURFACE AREA TO DRIVE DEMAND 87 10.3 G FIN 88 10.3.1 RISING USE TO IMPROVE THERMAL EFFICIENCY AND PERFORMANCE ACROSS VARIOUS INDUSTRIAL APPLICATIONS TO FUEL MARKET GROWTH 88 10.4 EXTRUDED FIN 88 10.4.1 HIGH CORROSION RESISTANCE, ROBUSTNESS, AND ADAPTABLE FIN DESIGN TO DRIVE DEMAND 88 10.5 OTHER FIN DESIGNS 89   11 AIR-COOLED HEAT EXCHANGER MARKET, BY CAPACITY 90 11.1 INTRODUCTION 91 11.2 <10 KW CAPACITY 92 11.2.1 RISING USE FOR SMALL-SCALE APPLICATIONS IN OIL & GAS INDUSTRY TO DRIVE MARKET 92 11.3 11–50 KW CAPACITY 92 11.3.1 CAPABILITY TO OPERATE AT OPTIMAL TEMPERATURE AND PROVIDE EFFICIENT THERMAL MANAGEMENT FOR DATA CENTER APPLICATIONS TO FUEL DEMAND 92 11.4 51–200 KW CAPACITY 93 11.4.1 GROWING ADOPTION IN NATURAL GAS PROCESSING PLANTS WHERE PRECISE TEMPERATURE CONTROL IS ESSENTIAL FOR OPTIMAL PERFORMANCE TO PROPEL MARKET 93 11.5 201–500 KW CAPACITY 93 11.5.1 HIGH USE IN OIL & GAS REFINERIES AND LARGE IT INFRASTRUCTURES TO BOOST MARKET GROWTH 93 11.6 >500 KW CAPACITY 94 11.6.1 RISING DEMAND IN LARGE-SCALE INDUSTRIAL OPERATIONS FOR POWER GENERATION TO DRIVE MARKET 94 12 AIR-COOLED HEAT EXCHANGER MARKET, BY END-USE INDUSTRY 95 12.1 INTRODUCTION 96 12.2 OIL & GAS 97 12.2.1 EXTENSIVE USE IN OIL & GAS REFINERIES AND PROCESSING PLANTS TO DRIVE MARKET 97 12.3 POWER GENERATION 98 12.3.1 GROWING ADOPTION TO MANAGE THERMAL LOADS IN POWER PLANTS AND ENSURE EFFICIENT OPERATION AND RELIABILITY IN POWER GENERATION APPLICATIONS TO FUEL MARKET GROWTH 98 12.4 DATA CENTERS 98 12.4.1 INCREASING DEMAND FROM ENTERPRISE DATA CENTERS TO DRIVE MARKET 98 12.4.1.1 Enterprise data centers 98 12.4.1.2 Colocation data centers 99 12.4.1.3 Edge data centers 99 12.4.1.4 Micro data centers 99 12.4.1.5 Other data centers 99 12.5 OTHER END-USE INDUSTRIES 99 13 AIR-COOLED HEAT EXCHANGER MARKET, BY REGION 100 13.1 INTRODUCTION 101 13.2 NORTH AMERICA 102 13.2.1 US 105 13.2.1.1 Increasing demand from data centers to drive market 105 13.2.2 CANADA 107 13.2.2.1 Availability of vast natural resources to contribute to market growth 107 13.2.3 MEXICO 108 13.2.3.1 Rising population and power demand to drive market 108 13.3 EUROPE 109 13.3.1 GERMANY 113 13.3.1.1 Energy transition to drive market 113 13.3.2 FRANCE 114 13.3.2.1 Stringent regulations to achieve carbon neutrality to fuel market growth 114 13.3.3 UK 115 13.3.3.1 High emphasis on energy efficiency and sustainability in data center design to boost market growth 115 13.3.4 ITALY 116 13.3.4.1 Innovations in air-cooled heat exchanger design to drive market 116 13.3.5 SWITZERLAND 117 13.3.5.1 Increasing demand for efficient cooling solutions across various industries to drive market 117 13.3.6 SPAIN 118 13.3.6.1 Rising demand for sustainable cooling solutions to propel market 118 13.3.7 REST OF EUROPE 118 13.4 ASIA PACIFIC 119 13.4.1 CHINA 122 13.4.1.1 Rapid industrialization and expansion of various end-use industries to drive market 122 13.4.2 JAPAN 123 13.4.2.1 Booming food & beverage, construction, and nuclear power industries to propel market 123 13.4.3 INDIA 124 13.4.3.1 Rapid industrialization in energy and power generation industries to boost demand 124 13.4.4 SOUTH KOREA 125 13.4.4.1 Rising commercial construction to boost market growth 125 13.4.5 REST OF ASIA PACIFIC 126 13.5 MIDDLE EAST & AFRICA 127 13.5.1 SOUTH AFRICA 130 13.5.1.1 Rising industrial activities and booming mining, petrochemical, and power generation industries to drive market 130 13.5.2 GCC COUNTRIES 131 13.5.2.1 Saudi Arabia 131 13.5.2.1.1 Rising commercial construction activities and HVAC industry to drive market 131 13.5.2.2 Rest of GCC Countries 132 13.5.3 REST OF MIDDLE EAST & AFRICA 133   13.6 SOUTH AMERICA 134 13.6.1 BRAZIL 136 13.6.1.1 Presence of large oil & gas reserves to drive demand 136 13.6.2 ARGENTINA 137 13.6.2.1 Expanding energy infrastructure to drive market 137 13.6.3 REST OF SOUTH AMERICA 138 14 COMPETITIVE LANDSCAPE 140 14.1 OVERVIEW 140 14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 140 14.3 REVENUE ANALYSIS 142 14.4 MARKET SHARE ANALYSIS 143 14.4.1 ALFA LAVAL 144 14.4.2 KAWASAKI HEAVY INDUSTRIES, LTD. 144 14.4.3 CHART INDUSTRIES 144 14.4.4 BAKER HUGHES COMPANY 144 14.4.5 SPX COOLING TECH, LLC 144 14.5 COMPANY VALUATION AND FINANCIAL METRICS 145 14.6 BRAND/PRODUCT COMPARISON ANALYSIS 146 14.6.1 ALFA LAVAL ACE MODEL C 146 14.6.2 KELVION CMX 146 14.6.3 FANEX SERIES 147 14.6.4 AIR-X-CHANGERS MODEL EH 147 14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 147 14.7.1 STARS 147 14.7.2 EMERGING LEADERS 147 14.7.3 PERVASIVE PLAYERS 147 14.7.4 PARTICIPANTS 147 14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 149 14.7.5.1 Company footprint 149 14.7.5.2 Structure footprint 150 14.7.5.3 Material footprint 151 14.7.5.4 Type footprint 152 14.7.5.5 Fin design footprint 153 14.7.5.6 Capacity footprint 154 14.7.5.7 End-use industry footprint 155 14.7.5.8 Region footprint 156 14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 157 14.8.1 PROGRESSIVE COMPANIES 157 14.8.2 RESPONSIVE COMPANIES 157 14.8.3 DYNAMIC COMPANIES 157 14.8.4 STARTING BLOCKS 157 14.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 158 14.8.5.1 Detailed list of key startups/SMEs 158 14.8.5.2 Competitive benchmarking of startups/SMEs 160 14.9 COMPETITIVE SCENARIO 160 14.9.1 PRODUCT LAUNCHES 161 14.9.2 DEALS 162 14.9.3 EXPANSIONS 164 15 COMPANY PROFILES 165 15.1 KEY PLAYERS 165 15.1.1 ALFA LAVAL 165 15.1.1.1 Business overview 165 15.1.1.2 Products/Solutions/Services offered 166 15.1.1.3 Recent developments 169 15.1.1.3.1 Product launches 169 15.1.1.3.2 Deals 169 15.1.1.3.3 Expansions 170 15.1.1.4 MnM view 170 15.1.1.4.1 Key strengths/Right to win 170 15.1.1.4.2 Strategic choices 170 15.1.1.4.3 Weaknesses/Competitive threats 170 15.1.2 KELVION HOLDING GMBH 171 15.1.2.1 Business overview 171 15.1.2.2 Products/Solutions/Services offered 171 15.1.2.3 Recent developments 173 15.1.2.3.1 Product launches 173 15.1.2.3.2 Deals 174 15.1.2.3.3 Expansions 174 15.1.2.4 MnM view 175 15.1.2.4.1 Key strengths/Right to win 175 15.1.2.4.2 Strategic choices 175 15.1.2.4.3 Weaknesses/Competitive threats 175 15.1.3 KAWASAKI HEAVY INDUSTRIES, LTD. 176 15.1.3.1 Business overview 176 15.1.3.2 Products/Solutions/Services offered 177 15.1.3.3 MnM view 177 15.1.3.3.1 Key strengths/Right to win 177 15.1.3.3.2 Strategic choices 177 15.1.3.3.3 Weaknesses/Competitive threats 177   15.1.4 XYLEM 178 15.1.4.1 Business overview 178 15.1.4.2 Products/Solutions/Services offered 179 15.1.4.3 MnM view 180 15.1.4.3.1 Key strengths/Right to win 180 15.1.4.3.2 Strategic choices 180 15.1.4.3.3 Weaknesses/Competitive threats 180 15.1.5 CHART INDUSTRIES 181 15.1.5.1 Business overview 181 15.1.5.2 Products/Solutions/Services offered 182 15.1.5.3 Recent developments 183 15.1.5.3.1 Deals 183 15.1.5.4 MnM view 184 15.1.5.4.1 Key strengths/Right to win 184 15.1.5.4.2 Strategic choices 184 15.1.5.4.3 Weaknesses/Competitive threats 184 15.1.6 EXCHANGER INDUSTRIES LIMITED 185 15.1.6.1 Business overview 185 15.1.6.2 Products/Solutions/Services offered 185 15.1.6.3 Recent developments 186 15.1.6.3.1 Deals 186 15.1.6.4 MnM view 186 15.1.7 SPX COOLING TECH, LLC 187 15.1.7.1 Business overview 187 15.1.7.2 Products/Solutions/Services offered 188 15.1.7.3 Recent developments 188 15.1.7.3.1 Deals 188 15.1.7.3.2 Expansions 188 15.1.7.4 MnM view 188 15.1.8 SNT ENERGY CO., LTD. 189 15.1.8.1 Business overview 189 15.1.8.2 Products/Solutions/Services offered 189 15.1.8.3 Recent developments 189 15.1.8.4 MnM view 190 15.1.9 THERMAX LIMITED 191 15.1.9.1 Business overview 191 15.1.9.2 Products/Solutions/Services offered 192 15.1.9.3 MnM view 193 15.1.10 BAKER HUGHES COMPANY 194 15.1.10.1 Business overview 194 15.1.10.2 Products/Solutions/Services offered 195 15.1.10.3 MnM view 195 15.2 OTHER PLAYERS 196 15.2.1 SPG DRY COOLING 196 15.2.2 BOLDROCCHI 196 15.2.3 UNITED HEAT TRANSFER 197 15.2.4 DELTA T HEAT EXCHANGERS 197 15.2.5 DRY COOLERS, INC. 198 15.2.6 FUNKEWÄRMETAUSCHER APPARATEBAU GMBH 198 15.2.7 SPIRO-GILLS THERMAL PRODUCTS LTD 199 15.2.8 VIKRANT HEAT EXCHANGERS PVT. LTD. 199 15.2.9 ADVANCED COIL TECHNOLOGY, LLC 200 15.2.10 ARMSTRONG INTERNATIONAL INC. 200 15.2.11 KNM GROUP BERHAD 201 15.2.12 EXACT EXCHANGER INCORPORATED 201 15.2.13 BAFFLES COOLING SYSTEMS 202 15.2.14 FINTHERM 202 15.2.15 ALLIED HEAT TRANSFER 203 16 APPENDIX 204 16.1 DISCUSSION GUIDE 204 16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 208 16.3 CUSTOMIZATION OPTIONS 210 16.4 RELATED REPORTS 210 16.5 AUTHOR DETAILS 211