The field of nanofluids has received interesting attention since the concept of dispersing nanoscaled particles into a fluid was first introduced in the later part of the twentieth century. This is evident from the increased number of studies related to nanofluids published annually. The increasing attention on nanofluids is primarily due to their enhanced thermophysical properties and their ability to be incorporated into a wide range of thermal applications ranging from enhancing the effectiveness of heat exchangers used in industries to solar energy harvesting for renewable energy production. Owing to the increasing number of studies relating to nanofluids, there is a need for a holistic review of the progress and steps taken in 2019 concerning their application in heat transfer devices. This review takes a retrospective look at the year 2019 by reviewing the progress made in the area of nanofluids preparation and the applications of nanofluids in various heat transfer devices such as solar collectors, heat exchangers, refrigeration systems, radiators, thermal storage systems and electronic cooling. This review aims to update readers on recent progress while also highlighting the challenges and future of nanofluids as the next-generation heat transfer fluids. Finally, a conclusion on the merits and demerits of nanofluids is presented along with recommendations for future studies that would mobilise the rapid commercialisation of nanofluids.

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The increasing concentration of carbon dioxide (CO2) in the atmosphere has compelled researchers and policymakers to seek urgent solutions to address the current global climate change challenges.