Global Plate & Frame Heat Exchanger Market is valued at approximately USD 5.49 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2022-2029. Plate and frame heat exchangers are devices that are used to transfer heat between two or more fluids of different temperatures. This design forms high wall shear stress and high turbulence, which lead to a high heat transfer coefficient and a high fouling resistance. This device also prevents the mixing of fluids or direct contact with fluids with each other. Factors such as the presence of stringent environmental regulations, increasing investment in technological advancements, and growth of the chemical industry are fueling the market demand across the globe.
According to Statista, in 2018, the chemical industry generated revenue of around USD 4,416.7 billion. Also, the industry revenue reached USD 4,723.1 billion in the year 2021. Therefore, the flourishing development of the chemical industry is propelling the demand for Plate & Frame Heat Exchangers, which is impelling the global market growth. In addition, the expansion of the heat exchanger manufacturing business in developing economies and rising concerns regarding hygiene and corrosion resistance in food processing facilities are the primary factors that are leveraging the market growth over the forecasting years. However, the increasing cost of production and imposition of fluorinated greenhouse gas regulations are hindering stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Plate & Frame Heat Exchanger Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the space in terms of revenue during the year 2021. Factors such growing investments in the oil & gas and energy sectors, coupled with the increase in construction expenditure are bolstering the regional market growth. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to as rising investments in the manufacturing sector, growing spending on the research and development activities, and increasing industrialization.
Major market players included in this report are:
Kelvion Holding GmbH
Guntner GmbH & Co. KG
API Heat Transfer, Inc.
Hisaka Works Ltd.
HRS Heat Exchangers
SPX Flow, Inc.
SWEP International AB
Recent Developments in the Market:
In 2021, ALFA LAVAL introduced its new facility in San Bonifacio, Italy to produce brazed heat exchangers. This new facility offers more capacity to meet the ever-increasing consumer demand.
In 2021, BOYD Corporation announced the opening of its new production facility in Juarez, Mexico, with the aim of escalating the company business operations across North America. The company produce thermal systems and diversified engineered materials in an automated facility powered by renewable energy.
Global Plate & Frame Heat Exchanger Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product, End User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End User:
Food & Beverage
HVAC & Refrigeration
Oil & Gas
Rest of the World