The global Plate Heat Exchangers Market is projected to witness a growth rate of 5.6% annually from 2024 to 2030, with an anticipated size of US$ 5.7 billion by 2030, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global Plate Heat Exchangers Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2030 (billion US$) | 5.7 |
| Growth (CAGR) | 5.6% during 2024-2030 |
| Forecast Period | 2024-2030 |
| Trend Period | 2018-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 3 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Plate Heat Exchangers Market:
The global Plate Heat Exchangers Market is segmented based on by type, end-user type, and region.
Based on by type – The market is segmented into gasket plate heat exchangers, all-welded plate heat exchangers, and brazed plate heat exchangers. The gasket plate heat exchanger is projected to maintain its dominance during the forecast period. The growth of the segment can be attributed to the benefits offered by gasket plate heat exchangers, which include precise heat transfer, overall low cost, less fouling, low energy consumption, and easy capacity expansion. They also provide less stress, wear, and corrosion.
The all-welded plate heat exchanger is estimated to experience the fastest growth during the forecast period. They are highly durable and ideal for transferring corrosive fluids. They can withstand high temperatures across a single compact unit, provide a greater heat recovery, and require low investment and installation costs.
Based on end-use industry type – The market is segmented as oil & gas, petrochemical & chemical, food & beverage, power generation, HVAC & refrigeration, water & wastewater, pharmaceuticals, marine & shipbuilding, and others. Petrochemical & chemical is projected to remain the largest and the fastest-growing segment of the market during the forecast period.
Plate heat exchangers are in high demand in the petrochemical & chemical industry due to their high heat transfer coefficient, adaptability, compact structure, access to harsh liquids, and greater efficiency in heat recovery.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest and fastest-growing region in the market during the forecast period. This growth outlook is majorly attributed to the following–
- The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Asia-Pacific is expected to remain the largest and fastest-growing region in the plate heat exchangers market during the forecast period.
- China is likely to remain the demand propeller in the regional market.
- Growing renewable energy sources, increasing expansion of nuclear power plants, expected increase in oil & gas production, and the presence of leading manufacturers of various petroleum products, and their exploration in China are likely to drive the country’s market.
Plate Heat Exchangers Market Drivers:
Some of the key drivers listed in the report are given below.
- The demand for plate heat exchangers is highly subjected to the organic growth of various end-use industries, such as petrochemical & chemical, power generation, oil & gas, HVAC & refrigeration. The impact of the COVID-19 pandemic on the demand for plate heat exchangers varies from industry to industry.
- For instance, oil & gas emerged to be the biggest victims with demand falling by -16.6% in 2020. The pharmaceutical industry, on the other hand, witnessed a healthy growth of 3.2% in 2020. Worldwide lockdowns and production halts of petrochemical & chemical, oil & gas, and nuclear power production plants impacted the demand for plate heat exchangers.
- In 2021, the market experienced a rebound at an excellent rate, driven by the combined effects of recovery in major industries, such as oil & gas, petrochemical & chemical, and power generation due to the diversification and restoration of the supply chain of the major manufacturers.
Top 10 Companies in the Plate Heat Exchangers Market:
Stratview Research has identified the following companies as the top market players:
- Alfa Laval AB
- Chart Industries, Inc.
- Danfoss (Sondex A/S)
- Johnson Controls International PLC
- Kelvion Holdings GmbH
- Linde plc
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Plate Heat Exchangers Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
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About us –
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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