The new report by Expert Market Research titled, ‘Global Plate and Frame Heat Exchangers Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global plate and frame heat exchangers market. It assesses the market based on its segments like types, applications, and major regions.
Plate and Frame Heat Exchangers Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 3.84 billion
• Forecast CAGR (2023-2028): 6.53%
• Forecast Market Size (2027): USD 5.6 billion
The rising industrial and commercial applications of plate and frame heat exchangers, ranging from chemical and petrochemical to HVAC and refrigeration, are driving the market. Plate and frame heat exchangers are crucial for the recovery of heat in the pulp production process to bolster its energy-efficiency.
Hence, the thriving pulp and paper industry is anticipated to generate a significant demand for plate and frame heat exchangers in the forecast period.
In terms of regions, the Asia Pacific accounts for a considerable share in the plate and frame heat exchangers market owing to the strong foothold of major manufacturers in the region. Furthermore, advancements in energy infrastructure in India and China are expected to drive the growth of the market during the forecast period.
Plate and Frame Heat Exchangers Industry Definition and Major Segments
Plate and frame heat exchangers comprise of various corrugated plates that are setup on a frame and are used to transfer heat energy from one fluid to another. The frame can be compressed as per the requirement of heat exchange. The seal is guaranteed by gaskets and serves to direct the flow of the fluids. Moreover, it has a high value of the overall heat transfer coefficient.
On the basis of type, the market can be segmented into:
• Welded
• Gasketed
• Brazed
• Others
Based on application, the plate and frame heat exchangers market is divided into:
• Chemical and Petrochemical
• HVAC and Refrigeration
• Food and Beverage
• Power Generation
• Oil and Gas
• Pulp and Paper
• Others
The regional markets for plate and frame heat exchangers include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Plate and Frame Heat Exchangers Market Trends
The key trends in the plate and frame heat exchangers market include the rising investments in the development of power generation plants in emerging economies owing to the increasing demand for power from the industrial sector.
The growing application of plate and frame heat exchangers in the HVAC in the residential sector, which can be attributed to the increasing disposable income and rising population, is also anticipated to fuel the market. The introduction of various stringent government regulations against the emission of carbon and other toxic gases and federal legislations aimed towards conserving energy are likely to provide impetus to the market in the coming years.
Key Market Players
The major players in the global plate and frame heat exchangers market are:
- Hisaka Works, Ltd
- Kelvion Holding GmbH
- Danfoss Group
- Fischer Maschinen- und Apparatebau
- SGL Carbon SE
- Koch Industries, Inc
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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