The According to a market research report, the Plate and Frame Heat Exchanger Market by Type (Gasketed, Welded, and Brazed), Application (Chemicals, Petrochemicals and Oil & Gas, HVAC & Refrigeration, Food & Beverages, Power Generation, and Pulp & Paper), and Region – Global Forecast to 2028″, The Plate and frame heat exchanger market is projected to reach USD 8.1 Billion by 2028, at a CAGR of 6.5% from USD 5.9 Billion in 2023. The increasing demand from chemicals, petrochemicals, oil and gas, HVAC and refrigeration, food and beverages, power generation, pulp and paper, and other applications, coupled with the demand from emerging countries in the Asia Pacific, will contribute to the rapid growth in the demand for plate and frame heat exchanger.
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- 220 Market data Tables
- 50 Figures
- 212 Pages and in-depth TOC on “Plate and Frame Heat Exchanger Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The key global players in the plate and frame heat exchangers market include Alfa Laval (Sweden), Danfoss (Denmark), Kelvion Holding GmbH (Germany), SPX Flow (US), XYLEM (US), API Heat Transfer (US), H. Guntner (UK) LTD. (England), Boyd Corporation (US), Johnson Controls (Ireland), and Wabtec Corporation (US) and others
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Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the heat exchangers market.
Recent Developments in Plate and Frame Heat Exchanger Market
- In February 2021 ALFA LAVAL started providing heat exchangers to Carrier under its commercial HVAC and refrigeration portfolios globally. The development of a long-term solution for reducing the environmental impact of heating and cooling equipment will be the main goal of the long-term agreement bet ween ALFA LAVAL and Carrier.
- In September 2021 Kelvion invested USD 3.7 million in a new production facility located in Tennessee, US, as part of its expansion strategy to meet the increasing demand for heat exchangers in the data center and refrigeration industries of North America. The company’s primary objective is to enhance its production capacities and optimize costs, resulting in improved customer satisfaction and advanced product technology.
- In October 2021 Kelvion invested USD 6 million in its Catoosa manufacturing facility, with a focus on producing heat exchangers specifically designed for the oil and gas industry. This strategic move is in response to the growing demand for heat exchangers in North America, highlighting Kelvion’s commitment to meeting the evolving needs of its customers. The investment in the manufacturing facility is expected to enhance the company’s production capacities, further reinforcing its position as a leading player in the global heat exchanger market.
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Based on type, the plate and frame heat exchanger market has been segmented into gasketed, welded, brazed and others. A gasketed plate and frame heat exchanger is a type of heat exchanger that consists of a series of alternating plates and gaskets. The plates have specific patterns of corrugations that create flow channels for the heat transfer fluid. The gaskets are placed between the plates to ensure proper sealing and to direct the flow of the fluids. The gasketed design allows for easy disassembly and cleaning of the plates, making it suitable for applications where frequent maintenance or modifications are required. Gasketed plate and frame heat exchangers are commonly used in industries such as HVAC, refrigeration, chemical processing, and food processing.
Based on application, the plate and frame heat exchanger market has been segmented into chemicals, petrochemicals and oil & gas, HVAC & refrigeration, food & beverages, power generation, pulp & paper, and other applications. The properties of plate and frame heat exchanger, such as high heat transfer efficiency, compact design, modular construction for easy scalability, ability to handle corrosive fluids, easy disassembly for cleaning and maintenance, and suitability for applications requiring frequent modifications or maintenance make them suitable for above mentioned applications.
Asia Pacific is the fastest-growing market for plate and frame heat exchangers. This growth is mainly attributed to the rapidly increasing industrialization and urbanization, which drives the demand for plate and frame heat exchangers in booming economies such as China, and India. The region’s large population, coupled with a growing middle class and increasing disposable income, boosts the demand for high-quality consumer goods. Low labour costs and easy raw material availability attract manufacturers to cater to the local emerging markets better.
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