This paper presents an account of model design, steady state simulation and a CFD analysis of three heat exchangers namely, double pipe heat exchanger, shell and tube heat exchanger and transverse fin type heat exchanger in order to evaluate their performance under a common parameter. The objective of this research work is to select the appropriate heat exchanger for exchange of excess heat from a liquid rheostat which controls the speed of an AC motor coupled to the fans of an open circuit wind tunnel. Five models in each of the three heat exchangers were designed and its pressure drop was calculated. This helped in determining the best model for further analysis. Each model from the three heat exchangers was analysed and parameters like temperature, pressure and velocity were compared.