2024 China Heat Exchange Industry

Outline: 

Heat exchanger transfers heat from hot to cold fluid and is widely used in various industries. Industry regulations standardize the industry. The state's supportive policies promote its development. The upstream includes raw material suppliers, and the downstream covers multiple application fields. The market size of the Chinese heat exchange equipment market grew, with the petrochemical industry having a high demand for it.

 -Market Size: Grew from 81.05 billion yuan in 2019 to 86.89 billion yuan in 2022, with a 2.35% compound annual growth rate.

 -Application Proportion:

1. Petrochemical Industry: 30% of market demand.
2. Power Metallurgy Industry: 17%
3. Shipbuilding Industry: 9%
4. Machinery Industry: 8%

Text：

1. Overview of heat exchange equipment

A device that transfers heat from a hot fluid to a cold fluid is called a heat exchanger. Heat transfer equipment is widely used in oil refining, chemical, light industry, pharmaceutical, machinery, food processing, power and atomic energy industry sectors. In general, in the equipment investment of some chemical plants, heat exchangers account for 30% of the total investment; In modern refineries, heat exchangers account for more than 40% of the total investment in process equipment. In the desalination industry, almost all equipment is composed of heat exchangers. The advanced nature, rationality and reliability of the heat exchange equipment directly affect the quality, quantity and cost of the product.

2. Development background

The promulgation and implementation of industry-related laws and regulations have not only promoted the standardization process of the heat exchange equipment industry, but also contributed to the establishment of the heat exchange equipment market order. In recent years, the state has promulgated a series of supporting policies and development plans for the petrochemical industry and heat exchange equipment industry, which not only promotes the rapid development of the heat exchange equipment industry, but also guides the strategic planning and business development direction for industry participants, and promotes the development of heat exchange equipment to an efficient direction. The implementation of policies such as the "Action Plan for Peaking Carbon before 2030", the "Action Plan for Promoting Energy Conservation and Carbon Reduction through Strict Energy Efficiency Constraints in Key Petrochemical and Chemical Industries (2021-2025)", and the "Guiding Opinions on Promoting High-quality Development of Petrochemical and Chemical Industries in the 14th Five-Year Plan", promoting energy conservation and carbon reduction transformation in petrochemical and other industries, and promoting energy-saving and low-carbon technology and equipment; We will improve the efficiency of energy and resources utilization. Energy saving, emission reduction and high efficiency have become an important direction for the future development of heat exchange equipment industry.

3. Industrial Chain

The upstream of the heat exchange equipment industry is the supplier of raw materials and basic parts such as steel and steel pipes, the middle stream is the manufacturing and production of heat exchange equipment, and the downstream is the application field of heat exchange equipment. As an important energy-saving device in industrial production, heat exchange equipment has been widely used in petrochemical industry, electric power metallurgy, shipbuilding industry, machinery industry, central heating, refrigeration and air conditioning, food and pharmaceutical fields. The development status and future development trends of the downstream demand industry will have a significant impact on the market space of the heat exchange equipment industry.

The main application fields of heat exchange equipment include petrochemical industry, electric power metallurgy, shipbuilding industry, machinery industry, etc. From the situation of the domestic market, the consumption of petroleum products in China has shown a steady growth trend. China's consumption of petroleum products in 2022 is 710.36 million tons, accounting for 16.16% of the world's total, second only to the United States. With the release of China's epidemic control, residents are no longer restricted to travel, and economic activities are gradually strengthening, driving the rapid growth of oil demand.

4. Heat exchange equipment industry development status

China heat exchange equipment market size

Under the background of the national "double carbon" goal, energy conservation and emission reduction have become an important direction of industrial development. As the equipment to realize heat exchange and transfer in industrial production, heat exchange equipment is one of the equipment to improve energy utilization efficiency in industrial production equipment, and it is an important energy-saving equipment. Thanks to a wide range of downstream applications, the heat exchange equipment industry market is huge. The scale of China's heat exchange equipment industry increased from 81.05 billion yuan in 2019 to 86.89 billion yuan in 2022, with a compound annual average growth rate of 2.35%, maintaining a stable growth trend.

China heat exchange equipment application proportion

The petrochemical industry is the most widely used field of heat exchange equipment. According to statistics, the investment in heat exchange equipment in the modern chemical industry accounts for about 30% of the total investment in equipment, and the heat exchange equipment in the refinery accounts for about 40% of the total process equipment. The demand for heat transfer equipment in the field of petrochemical industry accounts for 30% of the market demand; Followed by the power metallurgy industry, accounting for 17%; The shipbuilding industry and machinery industry accounted for 9% and 8% of the demand distribution. In the petrochemical industry, most of the processes have heating, cooling or condensation processes, which involve the application of heat exchange equipment, and the market demand is large.

In addition, we have a lot of different heat exchangers such as Plate heat exchanger, Shell and tube heat exchanger and Flue gas waste heat fully welded plate heat exchanger. For more information, please see the blew product operation and maintenance munuals.

PDF:

Plate heat exchanber specification2023(2).pdf   

Steam-water heat exchanger operation and maintenance munual(1).pdf   

Finned tube heat exchanger2022(1).pdf   

Fully welded palte heat exchanger operation and maintenance munual(1).pdf