PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1747194
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1747194
The plate & frame heat exchanger market is projected to reach USD 10.50 billion by 2030 from USD 7.21 billion in 2025, at a CAGR of 7.8%. Plate & frame heat exchangers, with their versatility and highly efficient thermal control, are essential components in HVACR systems, which have a direct correlation with the building and industrial maintenance markets. The renewed demand for HVACR equipment has been magnified due to new demand for infrastructure and urbanization through new building stock and refurbishment of existing stock in commercial and residential sectors. The HVACR sector appeals to all sectors of finance, and its growth is creating a range of heating, cooling, and energy-treatment applications requiring plate & frame heat exchangers to meet demands globally, driving the growth of the plate and frame heat exchanger sector.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million), Volume (Units) |
Segments | By Type, By Application, and By Region |
Regions covered | Europe, North America, Asia Pacific, Middle East & Africa, and South America |
"Based on type, welded plate & frame heat exchanger is the second-largest type in plate & frame heat exchanger market during the forecast period, in terms of value."
Welded plate and frame heat exchangers are the second most significant types of plate and frame heat exchangers in terms of market value. They can accommodate high pressures and high temperatures, making them suitable for challenging industrial applications in the oil & gas, chemical processing, power generation, and HVAC sectors. Their compact, high-performance architectural presence provides exceptionally productive heat transfer in limited installation spaces. Their welded construction means they do not have gaskets that may fail and shut down operations or allow fluid leakages. This improves the reliability and operational safety of the heat exchanger system. Additionally, welded plate and frame heat exchangers can be literally tailored and sized to specific process needs, while their efficient maintenance and cleaning features maximize appeal across all industries, thus securing their competitive position in the marketplace.
"Based on application, chemicals is the second-fastest-growing application in the plate & frame heat exchanger market during the forecast period, in terms of value."
The chemicals segment is projected to be the second-largest application segment, showing the fastest growth in the plate & frame heat exchanger market during the forecast period, in terms of value, due to the industry's demand for dependable, effective, and corrosion-resistant heat transfer solutions. In addition, chemical processing inherently involves extremes in aggressive fluids, high temperatures, and direct evidence of strict thermal control and cleanliness, requiring the use of plate & frame heat exchangers, especially those manufactured with expert materials like titanium, Hastelloy, etc. Plate & frame heat exchangers can be configured to fit within small spaces, making them easy to maintain and relatively simple to isolate & flush to remove process media and promote efficient operation. As they handle complex and corrosive media, less downtime means the organization maximizes utilization, efficiency, and uptime. The continued global expansion of chemical manufacturing continues to benefit from highly advanced and flexible heat exchangers and assimilated ancillary equipment that contribute to the maximization of safe, efficient, and effective management of their costly process time - and identify features to optimize reliable operation and share in the heat exchanger market.
"Based on region, Asia Pacific accounts for the largest share and is projected to be the fastest-growing region in the plate & frame heat exchanger market, in terms of value."
The largest and fastest-growing region for plate & frame heat exchangers is the Asia Pacific due to heavy industrialization, increased urbanization, and economic growth occurring in major countries in the region, such as China and India. This has resulted in the demand for plate heat exchangers in several important sectors, such as chemicals, HVAC, petrochemicals, food & beverage, and oil & gas markets. The largest growth drivers include a focus on energy efficiency, investment of infrastructure and general manufacturing, and a growing push for advanced technologies. Further, other important factors include government policies promoting growth, an abundance of low-cost labor, and global, mostly major manufacturers, deciding to expand their footprint in the Asia Pacific and, as a category, have a strong market share, thrusting the region's currently dominant and fast growing position in this market. If these conditions continue, the Asia Pacific is expected to retain the leading share in terms of both, size and growth in the plate & frame heat exchanger market over the forecast period.
The key players in this market are ALFA LAVAL (Sweden), Danfoss (Denmark), Kelvion Holding GmbH (Germany), SPX Flow (US), XYLEM (US), API Heat Transfer (US), H. Guntner (UK) LTD. (UK), Boyd Corporation (US), Johnson Controls (Ireland), Wabtec Corporation (US), Barriquand Technologies Thermiques (France), Chart Industries (US), Funke Heat Exchanger (Germany), Hisaka Works Ltd. (Japan), Radiant Heat Exchangers Pvt. Ltd. (India), SWEP International AB (Sweden), Vahterus OY (Finland), Kaori (Taiwan), Diversified Heat Transfer (US), HRS Heat Exchangers (UK), ONDA (Italy), SECESPOL (Poland), HYDAC (Germany), Baode (China), and Thermofin (Canada).
Research Coverage
This report segments the plate & frame heat exchanger market based on type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, product launches, expansions, and mergers and acquisitions associated with the plate & frame heat exchanger market.
Key benefits of buying this report
This research report focuses on various levels of analysis, including industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the plate & frame heat exchanger market, high-growth regions, and market drivers, restraints, opportunities, and challenges.