U.S. Heat Exchangers Market 2030: The Impact of Regulatory Changes

U.S. Heat Exchanger Market Overview

The U.S. heat exchanger market was valued at USD 2,905.1 million in 2024 and is projected to grow to USD 3,861.3 million by 2030, expanding at a compound annual growth rate (CAGR) of 5.1% from 2025 to 2030. This growth is primarily driven by increasing demand for heat transfer solutions across multiple end-use industries, fueled by robust industrialization within the country. Government efforts, including various initiatives and tax exemption programs aimed at revitalizing domestic manufacturing and industrial expansion, are expected to encourage more manufacturers to increase their activities across the U.S. This industrial growth, in turn, is anticipated to boost the demand for heat exchangers during the forecast period.

The U.S. heat exchanger market is forecasted to grow substantially due to rising emphasis on energy efficiency in sectors such as HVAC, power generation, and chemical processing. Companies are increasingly adopting advanced heat exchanger technologies—like plate and shell-and-tube designs—to optimize energy consumption and reduce emissions. Additionally, supportive regulations promoting sustainability and renewable energy adoption will likely enhance market potential. Innovations in materials and manufacturing processes also play a significant role, helping the U.S. secure a strong position in the global heat exchanger industry.

In March 2023, the U.S. Office of Science & Technology Policy (OSTP) proposed lobbying efforts for tax incentives aimed at boosting U.S.-based manufacturing. The sector is pursuing subsidies and tax credits to advance domestic manufacturing innovation. Notably, the Pharmaceutical Research and Manufacturers of America (PhRMA) requested a 25% tax credit to offset costs related to establishing new manufacturing plants and upgrading existing ones within the U.S. The expansion of the manufacturing sector is a key contributor to the rising demand for heat exchangers, which are essential for efficient heat transfer in industries such as power generation, chemical and petrochemical processing, and oil & gas production.

Order a free sample PDF of the U.S. Heat Exchangers Market Intelligence Study, published by Grand View Research.

Key Market Trends and Insights

• The shell & tube heat exchanger segment dominated the market, accounting for 35.3% of the revenue share in 2024. These heat exchangers are preferred for applications requiring broad temperature and pressure ranges between two fluids.
• Metals led the material segment with 63.0% of the revenue share in 2024, owing to the excellent thermal conductivity, corrosion resistance, and mechanical strength of metals like copper, aluminum, and stainless steel.
• The chemical industry was the largest end-user segment, contributing 25.1% to the revenue share in 2024. The continuous advancement in chemical and petrochemical industries with new products and processes drives the demand for various heat exchangers.

Market Size and Forecast Summary

• 2024 Market Value: USD 2,905.1 Million
• 2030 Projected Value: USD 3,861.3 Million
• CAGR (2025–2030): 5.1%

Leading U.S. Heat Exchanger Companies

Key players in the U.S. heat exchanger market include Mersen, Chart Industries, and Koch Heat Transfer Company, among others:

• Mersen: A global leader specializing in electrical power and advanced materials, offering innovative heat exchangers and components for renewable energy systems. Operating in over 30 countries, Mersen focuses on energy efficiency and reliability across sectors such as energy, electronics, and transport.
• Chart Industries: Based in the U.S., Chart manufactures highly engineered equipment for cryogenics, energy, and industrial gases. Its product line includes heat exchangers designed for LNG, biogas, and other energy-efficient applications.
• Koch Heat Transfer Company: Part of Koch Industries, it specializes in designing and manufacturing various heat exchangers—including shell-and-tube, plate, and air-cooled types—for industries like oil & gas, chemical processing, and power generation.

Emerging players like Mason Manufacturing LLC and HEATTRAN are also gaining traction by offering customized and technologically advanced thermal management solutions.

Notable Companies in the U.S. Heat Exchanger Market

• Mersen
• Chart Industries
• Koch Heat Transfer Company
• SHECO Industries, Inc.
• HEATTRAN
• ALFA LAVAL
• Kelvion Holding GmbH
• Xylem
• API Heat Transfer
• Mason Manufacturing LLC

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The U.S. heat exchanger market is poised for steady growth, supported by ongoing industrial expansion, government initiatives, and a growing emphasis on energy efficiency and sustainability. Advances in heat exchanger technology, combined with increasing demand across critical sectors such as chemical processing, power generation, and HVAC, position the U.S. as a key market player globally. With strong contributions from established companies and emerging manufacturers alike, the sector is expected to continue expanding at a healthy CAGR of 5.1% through 2030.