KRN heat exchangers and refrigeration DRHP

Global economies can expect a slowdown in growth and businesses should remain stable and reliant. Indias economy growth is expected to be one of the strongest in the whole world and this will be led by multiple factors such as Government focus on infrastructure, development of domestic growth, strong domestic demand, and digitalisation reforms. 

Heat exchanger overview

• Transfer thermal energy from one liquid to another and are more efficient when things  like  temperature  differential,  flow  rate  and  installation  guidelines,  are  evaluated successfully.

• More for big spaces and environments

• Key industries that heat exchangers are used in are chemical processing, oil and gas industries, power generation, food and beverages processing, refrigeration, aerospace and defence, automotive industry, renewable energy, pharmaceutical industry and industrial waste heat recovery. 

• Global heat exchanger market is growing at 6.2 percent CAG driven by increasing demand for sustainable low energy consumption as well as cost-effective solutions to achieve that

• Heat exchanger market is changing from America and Europe to big markets in Asia like India and China

• Rapid urbanisation and industrialisation are accelerating demand for heat exchangers

• The three biggest industry for heat exchangers are chemical, oil and gas and lastly power and energy

• Refrigerants also need heat exchangers

• The Indian refrigerant market is growing because of increasing household income, lower penetration, rapid urbanisation and gradual shift towards nuclear families among others.

• The Indian Heating, ventilation, air conditioning (HVAC) market is expected to grow at a CAGR of 15 percent

• Will experience a shift to energy efficient systems

• Sectors that use HVAC systems the most are commercial buildings, hospitals, hospitality, retail spaces, educational institutions, and industrial facilities.

• Nearly 30 percent of the energy consumed by commercial buildings are from HVAC

• Direct relationship of HVAC and the amount of retail and real estate projects

• High demand in temperature controlled storage like trucks, vehicles and warehouses. The demand for these things are 10 times whatever is there right now

• Cooling systems for data centres account for about 40 percent of their energy consumption

• Most of the heat exchanger exports from India go to Thailand and USA

• Most of the heat exchangers that are imported to them are from china

• Evolving trends for heat exchangers are hybrid heat exchangers, better energy efficient models, automated heat exchangers, and usage of new materials

• Some challenges include environmental impact of fouling on heat exchangers, and fluctuations of raw material prices

They manufacture fin and tube type heat exchangers for the HVAC&R (heat ventilation air conditioning and refrigeration) industry. Their product can be used for all types of AC like the residential ones to the ones in data centres to the ones in the defence industry. It’s the same for refrigeration as they provide to vending machines and also for just normal refrigerators. 3 more types of heat exchangers that they are going to manufacture are bar&plate heat exchanger which is used for stuff like metros and tanks. Oil Cooling Unit with Blower & Motor which is sued for the cooling of automotive and locomotives engines. Lastly a roll bond evaporator which is used for refrigerators. They are growing their export business with just 5 percent of their revenue coming from their export business in 2021 but now 14 percent in 2023. Most of their revenue comes from 2 products which are evaporate coils and condenser coils which account for 90 percent of their sales. They have a very good relationship with Daikin. Their growth strategies are to expand their customer base, reduce dependancy on Daikin, increase operational efficiency, increase global foot print. Evaporator coils are very vital in cooling systems and condenser coils are vital in HVAC systems.