Sales are expected to jump from $3.36 billion in 2006 to $3.67 billion in 2010, according a new report from market research publisher Specialists in Business Information (SBI) entitled Heat Exchangers & Steam Condensers and Power Boilers in the U.S.
SBI projects that the market will grow by 2.2 percent from 2005 to 2010 as the economy continues to grow and manufacturers continue to cater to specific market sectors, such as the oil and natural gas extraction industry, which has been a key target for new heat exchanger innovations fusing high energy efficiency with compactness.
According to the report, innovation has been a crucial step in market recovery as this decade's sales peaked in 2001 at $4.37 billion and plummeted to $2.9 billion in 2003. 2005 saw the release of corrosion-resistant heat exchangers that work efficiently with aggressive chemicals. Similarly, boiler manufacturers rolled out several boilers and boiler auxiliary products that optimize energy use and enhance boiler system efficiency.
"As the demand for oil and natural gas continues to increase globally, demand for industrial heat exchangers and steam condensers also increases, creating the type of growth market we are currently experiencing," says Cara Morrison, editor of SBI. "Simultaneously, every industry that uses these products is being hit hard by higher fuel costs. They're turning to new boiler and exchanger technologies to reduce costs and remain profitable.".
