Plate & Frame Heat Exchangers Market Is Set To Be A Billion Dollar Industry By 2027 According To Market Forecasts | Grand View Research, Inc.

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Plate & Frame Heat Exchangers Market Is Set To Be A Billion Dollar Industry By 2027 According To Market Forecasts | Grand View Research, Inc.

Plate & Frame Heat Exchangers Market Is Set To Be A Billion Dollar Industry By 2027 According To Market Forecasts | Grand View Research, Inc.

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Although the Plate & Frame Heat Exchangers Market experienced wreaking havoc during the COVID-19 pandemic, the power & electricity industry is roaring back to life due to the continuously increasing demand for heat exchangers in healthcare and engineering applications. The primary reason attributable to the impressive performance of plate & frame heat exchangers in post- lockdown period is the expansion of global energy infrastructure, says Grand View Research, Inc.

According to a recent report, the global plate & frame heat exchangers market size is projected to reach USD 5.67 billion by 2027 and is expected to register a CAGR of 6.9% during the forecast period. Increasing demand for heat recovery utilities in the food and beverage, chemical; Heating, Ventilation, and Air Conditioning (HVAC) sectors is anticipated to bolster the growth. Stringent environmental regulations related to greenhouse gas emissions and the rising concerns regarding oil price fluctuations are anticipated to upsurge the development in nuclear and renewable energy sectors. This is likely to bolster the demand for plate and frame heat exchangers in the aforementioned sectors over the forecast period. 

The COVID-19 pandemic has affected every industry vertical due to disruption in the supply chain and financial difficulties. However, steady growth is anticipated to continue over the forecast period, as the world emerges from the Covid-19 shutdown. Widespread use of brazed plate heat exchangers in numerous applications such as district heating substations, heat pumps, and gas-fired boilers is expected to augment the plate & frame heat exchangers market growth. The increasing product penetration can be attributed to the efficiency of the heat exchangers to transfer heat with decreased carbon footprint. 

Plate & Frame Heat Exchangers Market Report Highlights

 The gasketed plate and frame heat exchanger was the leading product segment in 2019 and accounted for an overall share of 56.9%, on account of widespread use of the product in power plants owing to lower maintenance and its compact size.

Gasketed heat exchanger has demonstrated enormous demand particularly in petrochemical, automotive, and power generation sectors and is anticipated to witness a steady growth in the forthcoming years.

In terms of application, oil and gas sector is projected to witness high demand for plate and frame heat exchangers due to their compactness and enhanced heat transfer capability.

Asia Pacific is set to witness a CAGR of 7.9% by 2027, on account of the growing concerns regarding energy prices and the adoption cost-effective measures in industrial activities. 

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Plate & Frame Heat Exchangers Market Segmentation

Grand View Research has segmented the global plate & frame heat exchangers market on the basis of product, end use, and region:

Plate and Frame Heat Exchangers Product Outlook (Revenue, USD Million, 2016 – 2027)

     Brazed
     Gasketed
     Welded
     Others

Plate and Frame Heat Exchangers End-use Outlook (Revenue, USD Million, 2016 – 2027)

     Chemical
     Food and Beverage
     HVAC and Refrigeration
     Oil and Gas
     Power Generation
     Pulp and Paper
     Others

Plate and Frame Heat Exchangers Regional Outlook (Revenue, USD Million, 2016 – 2027)

     North America
        • U.S.
        • Mexico
        • Canada
    • Europe
        • Germany
        • The U.K.
        • Italy
        • France
        • Russia
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Australia
    • Central and South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • UAE
        • South Africa

List of Key Players of Plate & Frame Heat Exchangers Market

     AIC S.A.
     Danfoss
     Alfa Laval
     Apparatebau GmbH
     Fischer Maschinen API Heat Transfer, Inc.
    • Guntner GmbH & Co. KG
     Hisaka Works Limited
     Kelvion Holding GmbH.

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Shell & Tube Heat Exchangers Market Size, Share & Trends Analysis Report By Material (Hastelloy, Titanium, Steel, Nickel & Nickel Alloys, Tantalum), By End Use, By Region, And Segment Forecasts, 2020 – 2027

Welded Plate And Block Heat Exchangers Market Size, Share & Trends Analysis Report By End Use (Chemical, Food & Beverages, HVAC & Refrigeration, Petrochemicals), By Region, And Segment Forecasts, 2019 – 2025

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

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