Global Plate Heat Exchangers Market, By Type (Shell and Tube, Plate and Frame, Air Cooled), Raw Material (Steel, Copper, Aluminum), Application (Chemical, Petrochemical and Oil and Gas, HVAC and Refrigeration, Food and Beverage, Power Generation, and Pulp and Paper), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights of Plate Heat Exchangers Market
Plate heat exchangers market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the plate heat exchangers market to exhibit a CAGR of 7.3% for the forecast period of 2022 to 2029.
Heat exchangers are devices that are specifically designed to transfer heat between two or more fluids of varying temperatures, such as liquids, vapors, or gases. Depending on the type of heat exchanger used, the heat transfer process can be classified as gas-to-gas, liquid-to-gas, or liquid-to-liquid. The process is carried out using a solid separator, which helps to prevent fluids from mixing or coming into direct contact with one another. A plate heat exchanger is a type of heat exchanger that uses metal plates to transfer heat between two fluids.
The significant rise in HVACR deployment and other industrial activities and rapid industrial expansion will emerge as the major factor driving market growth. The rise in need for heat exchangers in industrial, commercial, and engineering applications such as heating, ventilation, air conditioning (HVAC), commercial building, and automotive and technological advancements in the devices is estimated to boost the overall growth of the market for the forecast period of 2022 to 2029. Furthermore, the rapid industrialization in developing economies will further aggravate the market value for the forecast period of 2022 to 2029. The increase in demand for the plate and frame heat exchangers due to the presence of stringent environmental regulations and surge in demand for nuclear power and expansion of energy infrastructure are also expected to bolster the market’s growth for the forecast period of 2022 to 2029. On the other hand, the raw material price fluctuations of copper, aluminum, steel, and other metals act as a restraint for the market. The rise in the cost of production also hampers the market’s growth.
In addition to this, the large aftermarket for plate and frame heat exchangers are estimated to create new opportunities for growing the market within the forecast period. However, the fluorinated greenhouse gas regulations result as a challenge for the market forecast 2022 to 2029.
This plate heat exchangers market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on plate heat exchangers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Plate Heat Exchangers Market Scope and Market Size
The plate heat exchangers market is segmented on the basis of type, raw material and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- Plate heat exchangers market, on the basis of type, has been segmented as shell and tube, plate and frame and air cooled.
- On the basis of raw material, the plate heat exchangers market is segmented as steel, copper and aluminum.
- On the basis of application, the plate heat exchangers market is bifurcated as chemical, petrochemical and oil and gas, HVAC and refrigeration, food and beverage, power generation and pulp and paper.
Plate Heat Exchangers Market Country Level Analysis
The plate heat exchangers market is analyzed and market size, volume information is provided by type, raw material and application as referenced above.
The countries covered in the plate heat exchangers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe region dominates the plate heat exchangers market due to the high production of and demand for plate and frame heat exchangers from various end-users within the region for the forecast period of 2022 to 2029. The Asia-Pacific region is projected to undergo substantial during the forecast period due to the efficient equipment for various energy-intensive production processes within the region.
The country section of the plate heat exchangers market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plate Heat Exchangers Market Share Analysis
The plate heat exchangers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to plate heat exchangers market.
Some of the major players operating in the plate heat exchangers market report are Kelvion Holding GmbH, H. Güntner (UK) Limited., Hisaka Works Ltd., Koch Heat Transfer Company, HRS, Kaori Heat Treatment Co., Ltd., McDermott, SGL Carbon, SPX Flow, ALFA LAVAL, Xylem., Mersen, API Heat Transfer, Danfoss, Fischer Maschinen und Apparatebau GmbH, and SABIC among others.
Recent Developments
- In 2021, BOYD Corporation has opened a new production facility in Juarez, Mexico, in order to expand its North American operations. The company will manufacture thermal systems and diversified engineered materials in an automated facility powered by renewable energy. The quality management system will be certified for the 40, 000 square metre facility. The expansion strategy will add capacity to manufacture highly complex liquid cooling systems, liquid cold plates, and advanced rotary die-cutting capabilities to serve the North American market.
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