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    Plate Heat Exchangers Market Report

    Plate Heat Exchangers Market Report
    Report code - SR2048 Published On : Jul,2022 No. of Pages: 120
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    Plate Heat Exchangers Market Size, Share, Trend, Forecast, Competitive Analysis, and Growt See more...

    Market Highlights

    Plate heat exchangers consist of a series of parallel plates that are placed one above the other to form a series of channels through which fluids can flow. In general, these plates are corrugated to increase turbulence; hot fluid flows in one direction in alternating chambers, while cold fluid flows in true counter-current flow in the other. Heat exchangers are classified as gasket plate, all-welded plate, or brazed plate based on the design and number of plates.

    The demand for plate heat exchangers is highly influenced by the organic growth of various end-use industries such as petrochemical & chemical, power generation, oil & gas, and HVAC & refrigeration. The impact of the COVID-19 pandemic on demand for plate heat exchangers varied according to industry. Oil & gas, for instance,  emerged as the most vulnerable industry, with demand falling by more than -15.1% in 2020. The pharmaceutical industry, on the other hand, witnessed a healthy growth of 4.8% in 2020. Lockdowns and production halts at petrochemical & chemical, oil & gas, and nuclear power plants around the world impacted the demand for plate heat exchangers.

    In 2021, the market experienced an excellent rebound, driven by the combined effects of recovery in the economic activity and resumption of manufacturing in different industries such as oil & gas, petrochemical & chemical, and power generation. Overall, the plate heat exchangers market is estimated to grow at a healthy CAGR of 5.7% during the forecast period to reach a value of US$ 4.7 Billion in 2027.

    Market Segments' Analysis

    Based on the type, the market is segmented into gasket plate heat exchangers, all-welded plate heat exchangers, and brazed plate heat exchangers. 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.

    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, can withstand high temperatures across a single compact unit, provide greater heat recovery, and require low investment and installation costs.

    Based on the end-use industry type, the market is segmented as oil & gas, petrochemical & chemical, food & beverages, power generation, HVAC & refrigeration, water & wastewater, pharmaceuticals, marine & shipbuilding,  and others. Petrochemical & chemical is projected to remain the largest and 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.

    In terms of regions, Asia-Pacific is expected to remain the largest and fastest-growing plate heat exchangers market during the forecast period. China is likely to remain the demand generator for 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.   

    Key Players

    The supply chain of this market comprises several nodes including raw material suppliers,  component manufacturers, plate heat exchanger manufacturers, distributors, and OEMs/end-users. The following are some of the key players in the plate heat exchangers market:

    • Alfa Laval AB
    • Johnson Controls International PLC
    • Kelvion Holdings GmbH
    • Danfoss (Sondex A/S)
    • SPX Flow, Inc.
    • Thermax Ltd.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s plate heat exchangers market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The plate heat exchangers market is segmented into the following categories. 

    Plate Heat Exchangers Market, by Type

    • Gasket Plate Heat Exchangers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • All-Welded Plate Heat Exchangers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Brazed Plate Heat Exchangers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Plate Heat Exchangers Market, by End-Use Industry Type

    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Petrochemical & Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Food & Beverages (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • HVAC & Refrigeration (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Water & Wastewater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pharmaceuticals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine & Shipbuilding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Plate Heat Exchangers Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Italy, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    A Bird's Eye View of the Market

    The plate heat exchangers market is estimated to grow at a healthy CAGR of 5.7% over the next five years to reach a value of US$ 4.7 billion in 2027. Plate heat exchangers can be used in various industries owing to their advantages, such as high heat transfer coefficient, good efficiency due to turbulent flow on both sides, and ease of maintenance, repair, and service.

    Alfa Laval AB, Johnson Controls International PLC, Kelvion Holdings GmbH, SPX Flow, Inc., Danfoss Sondex A/S, Thermax Ltd., and Swep International AB are some of the key players in the market.

    Asia-Pacific is estimated to be the dominant region in the plate heat exchangers market in the coming years. Increasing demand for renewable energy resources is expected to rise in oil & gas production, and growing investments in the region's petrochemical & chemical, HVAC, and F&B industries are expected to drive the regional market growth over the next five years.

    Gasket plate heat exchanger is likely to maintain its dominance in the market in the next five years. The growth 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.