Brazed Plate Heat Exchangers Market Growth Analysis | 2023-2028

Market Insights

The Brazed Plate Heat Exchangers Market was estimated at US$ 819.77 million in 2022 and is expected to grow at a CAGR of 7.2% during 2023-2028 to reach US$ 1251.06 million in 2028.

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What are Brazed Plate Heat Exchangers?

Brazed plate heat exchangers (BPHEs) are compact and highly efficient devices used to transfer heat between two fluids. They consist of thin, corrugated plates stacked together and brazed at the edges to create alternating channels for the hot and cold fluids. During operation, one fluid flows through the even-numbered channels while the other passes through the odd-numbered channels, allowing for effective heat transfer.

BPHEs are widely used in various industries, including HVAC (heating, ventilation, and air conditioning), refrigeration, process industries, and renewable energy systems. Their compact design results in reduced space requirements and lower weight compared to traditional shell-and-tube heat exchangers. These features, along with their high thermal efficiency, make brazed plate heat exchangers a popular choice for applications where space, weight, and heat transfer performance are critical factors.

Market Dynamics

Major drivers of Brazed Plate Heat Exchangers Market growth during the forecast period include:

• Steady Demand: The Brazed Plate Heat Exchangers market is experiencing continuous growth owing to its rising applications in HVAC, refrigeration, and industrial processes, fuelled by the need for energy efficiency.

• Space-Saving Advantage: The compact and lightweight design of BPHEs enables convenient installations in urban and limited spaces, driving their increasing demand.

• Superior Efficiency: BPHEs are favored over traditional shell-and-tube heat exchangers for their higher thermal efficiency, driving a shift towards these advanced solutions.

• Industrial Expansion: The growing process industries and chemical sectors are driving significant demand for brazed plate heat exchangers, thanks to their suitability for handling diverse fluids and pressures.

• Raw Material Price Volatility: Fluctuations in metal prices, such as copper and stainless steel, can impact the overall market dynamics.

Segments Analysis

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By End-Use Industry Type

Based on the end-use industry type, the brazed plate heat exchangers market is segmented as HVAC, chemical, food & beverages, power, heavy industries, and others. The HVAC industry is expected to remain the fastest-growing segment of the market, owing to an increase in demand from the global construction sector. Further, the construction sector is growing due to an increase in globalization, urbanization, rising standard of living, the increasing purchasing power of parity (PPP), infrastructural development, and increasing need for the construction of megacities in emerging countries, which in turn, is propelling the growth of the segment during the forecast period.

Regional Analysis

In terms of regions, Europe is estimated to be the largest brazed plate heat exchangers market during the forecast period, owing to the large industrial base in this region. The growth of the market is driven by the presence of a large number of brazed plate heat exchanger manufacturers, and the growth of the HVAC end-use industry, which is generating huge demand for brazed plate heat exchangers in the European region. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the major brazed plate heat exchanger manufacturers are-

• Alfa Laval AB
• Kelvion Holding GmbH
• SWEP
• Danfoss
• Xylem Inc.
• API Heat Transfer Inc.
• Chart Industries, Inc.

Research Methodology

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 with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. 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.

What Deliverables Will You Get in this Report?

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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.

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