Air-cooled heat exchangers (ACHEs) dissipate heat using ambient air rather than water—reducing corrosion/fouling risks and maintenance while suiting high-temperature, high-pressure duties. Stratview Research projects the air-cooled heat exchangers market to reach US$5.1 billion by 2030, growing at 5.3% CAGR (2024–2030).

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Drivers

• Energy & industrial expansion. Rising energy demand and sustained capex across refineries, power generation, food manufacturing, and district heating/cooling underpin new ACHE installs and retrofits.
• Water scarcity & OPEX control. ACHEs require no cooling water, offer smaller footprints, and cut lifecycle costs—advantages that resonate where water is constrained or treatment costs are high.
• Post-pandemic normalization. After a demand dip of >13% in 2020, recoveries in power, petrochemicals, oil & gas, and HVAC supported a plateau in 2021 and renewed project momentum.

Trends

• End-use hierarchy. Power generation and petrochemical & chemical are set to remain the dominant end-use segments, with HVAC/R and oil & gas also creating sizeable opportunities.
• Regional picture. Asia-Pacific is expected to be both the largest and fastest-growing region, driven by rapid industrialization and manufacturing investment; Europe and North America stay meaningful opportunity pools.
• Supplier landscape. Notable players include Alfa Laval, API Heat Transfer, Kelvion, Paharpur Cooling Towers, and Thermax.

Conclusion

With energy growth, water constraints, and lifecycle economics all favoring dry cooling, ACHE demand should advance steadily to US$5.1B by 2030. Expect power and petrochemicals to anchor volumes, APAC to supply the growth delta, and vendors with robust air-side designs and regional service footprints to outperform.