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PUBLISHER: Grand View Research | PRODUCT CODE: 1433739
PUBLISHER: Grand View Research | PRODUCT CODE: 1433739
Plate & Frame Heat Exchangers Market Size, Share & Trends Analysis Report By Product (Brazed, Gasketed, Welded), By End-use (Chemical, Power Generation), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030
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Plate & Frame Heat Exchangers Market Growth & Trends:
The global plate & frame heat exchangers market is anticipated to reach USD 8.80 billion by 2030 and is anticipated to expand at a CAGR of 6.1% during the forecast period of 2024 to 2030, according to a new report by Grand View Research, Inc. The rapid growth in the chemical & petrochemical industries coupled with rapid industrialization in the Asia Pacific region are expected to propel the market demand in the coming years.
According to the India Brand Equity Foundation (IBEF), the pharmaceuticals industry is recognized as the sunrise sector for the economy of the country in the Union Budget-2022. It is predicted to triple in size in the next few years. According to the Economic Survey for 2021-2022, the pharmaceutical industry in India is projected to reach USD 65 billion by 2024. The growth of the industry in the country can be attributed to the leadership of domestic manufacturers that offer generic pharmaceutical formulations. Thus, the growing pharmaceuticals industry in India is expected to lead to surged demand for plate & frame heat exchangers market used in it during the forecast period.
Most processes in the petrochemical industry involve high pressure and temperature, thereby necessitating the optimization of heat transfer as well as the enhancement of energy savings. Factors such as the type of fluid heated or cooled govern the choice of reactor design in petrochemical production facilities. Temperature control plays a key role in the petrochemical production process to minimize the formation of undesired by-products. This necessitates the requirement for heat exchangers such as plate & frame heat exchangers to enhance productivity and reduce energy loss in the reactors.
The plate & frame heat exchanger is an essential part of the power generating units and plants as it is required for the evaporation of working fluids, condensation of working fluids, extraction of heat, cooling of lube oil, and cooling of motor cooling water. The heat exchanger is a low-cost, effective, and efficient means of heat transfer. The European Union is installing new power generation plants to ensure efficient energy consumption, which is in line with the norms set by the European Parliament in 2009. The new and efficient heat exchangers, which are installed in the power generating plants, are expected to reduce the overall energy consumption. Such government initiatives are expected to drive the market growth over the forecast period.
Plate & Frame Heat Exchangers Market Report Highlights:
- Gasketed segment dominated the product segment with 56.4% share in 2023. The physical design of the gasket plate & frame heat exchanger allows easy removal of plates for expansion, cleaning, or replacement, which further reduces the maintenance cost. As gasketed plate & frame heat exchangers are easy to clean, they are typically utilized for pharmaceutical and food processing, where a high degree of sanitation is required.
- Welded plate & frame heat exchangers are similar to gasketed ones; however, in the case of welded heat exchangers, the plates are welded together. Welded plate & frame heat exchangers are ideal for transferring fluids containing corrosive materials with high temperatures as these heat exchangers are extremely durable.
- Plate & frame heat exchangers are used in the chemical processing industry (CPI) on account of their properties, such as design flexibility and high corrosion resistance. Their properties provide them with the ability to handle fluids having varying levels of solids. These heat exchangers are majorly used in the production processes of sulfuric acid, nitric acid, phosphoric acid, and urea.
- Asia Pacific dominated the market owing to the increasing investments in the chemical sector and the growing manufacturing sector.
- Market players operating in the market Alfa Laval, Danfoss, Kelvion Holding GmbH, Guntner GmbH & Co. KG, Xylem, Inc., API Heat Transfer, Inc., Hisaka Works Limited, HRS Heat Exchangers, SPX Flow, Inc.
- In May 2023, the Brazed & Fusion Bonded Heat Exchangers Business Unit of Alfa Laval revealed plans to boost the manufacturing of brazed plate heat exchangers in response to growing demand during the continuous global energy transition.
Product Code: 978-1-68038-720-9
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Plate & Frame Heat Exchangers Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Concentration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Raw Material/Component Outlook
- 3.3.2. Manufacture Outlook
- 3.3.3. Distribution Outlook
- 3.4. Technology Overview
- 3.5. Regulatory Framework
- 3.6. Market Dynamics
- 3.6.1. Market Drivers Analysis
- 3.6.2. Market Restraints Analysis
- 3.6.3. Market Opportunity Analysis
- 3.6.4. Market Challenge Analysis
- 3.7. Plate & Frame Heat Exchangers Market Analysis Tools
- 3.7.1. Porter's Five Forces Analysis
- 3.7.1.1. Bargaining power of the suppliers
- 3.7.1.2. Bargaining power of the buyers
- 3.7.1.3. Threats of substitution
- 3.7.1.4. Threats from new entrants
- 3.7.1.5. Competitive rivalry
- 3.7.2. PESTEL Analysis
- 3.7.2.1. Political landscape
- 3.7.2.2. Economic and Social landscape
- 3.7.2.3. Technological landscape
- 3.7.2.4. Environmental landscape
- 3.7.2.5. Legal landscape
- 3.7.1. Porter's Five Forces Analysis
- 3.8. Economic Mega Trend Analysis
Chapter 4. Plate & Frame Heat Exchangers Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Plate & Frame Heat Exchangers Market: Product Movement Analysis, USD Billion, 2023 & 2030
- 4.3. Brazed
- 4.3.1. Brazed Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Gasketed
- 4.4.1. Gasketed Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5. Welded
- 4.5.1. Welded Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.6. Others
- 4.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Plate & Frame Heat Exchangers Market: End-use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Plate & Frame Heat Exchangers Market: End-use Movement Analysis, USD Billion, 2023 & 2030
- 5.3. Chemical
- 5.3.1. Chemical Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. Food & Beverage
- 5.4.1. Food & Beverage Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.5. HVAC & refrigeration
- 5.5.1. HVAC & refrigeration Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.6. Oil & Gas
- 5.6.1. Oil & Gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.7. Power Generation
- 5.7.1. Power Generation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.8. Pulp & Paper
- 5.8.1. Pulp & Paper Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.9. Others
- 5.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Plate & Frame Heat Exchangers Market: Region Estimates & Trend Analysis
- 6.1. Plate & Frame Heat Exchangers Market Share, By Region, 2023 & 2030, USD Billion
- 6.2. North America
- 6.2.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.2. U.S.
- 6.2.2.1. U.S. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3. Canada
- 6.2.3.1. Canada Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.4. Mexico
- 6.2.4.1. Mexico Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3. Europe
- 6.3.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.2. France
- 6.3.2.1. France Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.3. Germany
- 6.3.3.1. Germany Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.4. Italy
- 6.3.4.1. Italy Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.5. Russia
- 6.3.5.1. France Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3.6. UK
- 6.3.6.1. UK Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Asia Pacific
- 6.4.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4.2. China
- 6.4.2.1. China Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4.3. India
- 6.4.3.1. India Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4. Japan
- 6.4.4.1. Japan Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4.5. South Korea
- 6.4.5.1. South Korea Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4.6. Australia
- 6.4.6.1. Australia Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.5. Central & South America
- 6.5.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.5.2. Brazil
- 6.5.2.1. Brazil Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.5.3. Argentina
- 6.5.3.1. Argentina Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.6. Middle East & Africa
- 6.6.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.6.2. South Africa
- 6.6.2.1. South Africa Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.6.3. UAE
- 6.6.3.1. UAE Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Positioning
- 7.4. Company Market Share Analysis
- 7.5. Company Heat Map Analysis
- 7.6. Strategy Mapping
- 7.7. Company Profiles
- 7.7.1. Alfa Laval
- 7.7.1.1. Participant's Overview
- 7.7.1.2. Financial Performance
- 7.7.1.3. Product Benchmarking
- 7.7.1.4. Recent Developments
- 7.7.2. Danfoss
- 7.7.2.1. Participant's Overview
- 7.7.2.2. Financial Performance
- 7.7.2.3. Product Benchmarking
- 7.7.2.4. Recent Developments
- 7.7.3. Kelvion Holding GmBH
- 7.7.3.1. Participant's Overview
- 7.7.3.2. Financial Performance
- 7.7.3.3. Product Benchmarking
- 7.7.3.4. Recent Developments
- 7.7.4. Guntner GmbH & Co. KG
- 7.7.4.1. Participant's Overview
- 7.7.4.2. Financial Performance
- 7.7.4.3. Product Benchmarking
- 7.7.4.4. Recent Developments
- 7.7.5. Xylem
- 7.7.5.1. Participant's Overview
- 7.7.5.2. Financial Performance
- 7.7.5.3. Product Benchmarking
- 7.7.5.4. Recent Developments
- 7.7.6. API Heat Transfer
- 7.7.6.1. Participant's Overview
- 7.7.6.2. Financial Performance
- 7.7.6.3. Product Benchmarking
- 7.7.6.4. Recent Developments
- 7.7.7. Hisaka Works, Ltd.
- 7.7.7.1. Participant's Overview
- 7.7.7.2. Financial Performance
- 7.7.7.3. Product Benchmarking
- 7.7.7.4. Recent Developments
- 7.7.8. HRS Heat Exchanger
- 7.7.8.1. Participant's Overview
- 7.7.8.2. Financial Performance
- 7.7.8.3. Product Benchmarking
- 7.7.8.4. Recent Developments
- 7.7.9. SPX Flow, Inc.
- 7.7.9.1. Participant's Overview
- 7.7.9.2. Financial Performance
- 7.7.9.3. Product Benchmarking
- 7.7.9.4. Recent Developments
- 7.7.10. SWEP International AB
- 7.7.10.1. Participant's Overview
- 7.7.10.2. Financial Performance
- 7.7.10.3. Product Benchmarking
- 7.7.10.4. Recent Developments
- 7.7.1. Alfa Laval
Product Code: 978-1-68038-720-9
List of Tables
- Table 1 Plate & Frame Heat Exchangers market estimates and forecasts by product, 2018 - 2030 (USD Billion)
- Table 2 Plate & Frame Heat Exchangers market estimates and forecasts by end-use, 2018 - 2030 (USD Billion)
- Table 3 U.S. Macroeconomic Outlay
- Table 4 Canada Macroeconomic Outlay
- Table 5 Mexico Macroeconomic Outlay
- Table 6 Germany Macroeconomic Outlay
- Table 7 UK Macroeconomic Outlay
- Table 8 Russia Macroeconomic Outlay
- Table 9 France Macroeconomic Outlay
- Table 10 Italy Macroeconomic Outlay
- Table 11 China Macroeconomic Outlay
- Table 12 India Macroeconomic Outlay
- Table 13 Japan Macroeconomic Outlay
- Table 14 South Korea Macroeconomic Outlay
- Table 15 Australia Macroeconomic Outlay
- Table 16 Brazil Macroeconomic Outlay
- Table 17 South Africa Macroeconomic Outlay
- Table 18 UAE Macroeconomic Outlay
- Table 19 Recent Developments & Impact Analysis, By Key Market Participants
- Table 20 Company Heat Map Analysis, 2023
- Table 21 Key Companies: Mergers & Acquisitions
- Table 22 Key Companies: Product Launches
- Table 23 Key Companies: Expansions
- Table 24 Key Companies: Partnerships/Collaborations
- Table 25 Key Companies: Investments
List of Figures
- Fig. 1 Market Segmentation & Scope
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Market Segmentation & Scope
- Fig. 8 Segment Snapshot
- Fig. 9 Competitive Landscape Snapshot
- Fig. 10 Parent market outlook
- Fig. 11 Plate & Frame Heat Exchangers Market Value, 2023 (USD Billion)
- Fig. 12 Plate & Frame Heat Exchangers Market - Value Chain Analysis
- Fig. 13 Plate & Frame Heat Exchangers Market - Market Dynamics
- Fig. 14 Plate & Frame Heat Exchangers Market - PORTER's Analysis
- Fig. 15 Plate & Frame Heat Exchangers Market - PESTEL Analysis
- Fig. 16 Plate & Frame Heat Exchangers Market Estimates & Forecasts, By Product: Key Takeaways
- Fig. 17 Plate & Frame Heat Exchangers Market Share, By Product, 2023 & 2030
- Fig. 18 Brazed Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 19 Gasketed Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 20 Welded Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 21 Others Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 22 Plate & Frame Heat Exchangers Market Share, By End-use, 2023 & 2030
- Fig. 23 Chemical Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 24 Food & Beverage Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 25 HVAC & refrigeration Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 26 Oil & Gas Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 27 Power Generation Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 28 Pulp & Paper Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 29 Others Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 30 Plate & Frame Heat Exchangers Market Share, By Region, 2023 & 2030
- Fig. 31 U.S. Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 32 Canada Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 33 Mexico Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 34 Germany Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 35 Russia Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 36 UK Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 37 Spain Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 38 Italy Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 39 China Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 40 India Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 41 Japan Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 42 South Korea Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 43 Australia Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 44 Brazil Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 45 South Africa Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 46 UAE Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- Fig. 47 Key Company Categorization
- Fig. 48 Company Market Positioning
- Fig. 49 Key Company Market Share Analysis, 2023
- Fig. 50 Strategy Mapping
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