The global heat exchanger market reached a value of USD 17.4 billion in 2022 and is projected to climb to USD 30.7 billion by 2032, growing at a 6% CAGR over the forecast period. This growth is primarily fueled by rising demand across industries such as oil & gas, HVAC, chemicals, power generation, and food processing. With rising global energy needs and the push for efficient thermal systems, heat exchangers are becoming more essential than ever.