The new report by Expert Market Research titled, ‘Global Plate and Frame Heat Exchangers Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global plate and frame heat exchangers market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 6.53%
The market for plate and frame heat exchangers is being aided by the growing demand for such heat exchangers in the pulp and paper industry. The cost-effectiveness, efficient heat transfer, and energy-efficiency of plate and frame heat exchangers enable the recovery of heat in pulp production to maximise productivity, which is propelling the market growth. Moreover, they require low maintenance and minimal installation costs, which make them suitable for cost-effective applications. As plate and frame heat exchangers that can operate with fibrous fluids are being developed, they are increasingly used in heating, ventilation, and air conditioning systems. This, in turn, is driving the growth of the market.
Industry Definition and Major Segments
Plate and frame heat exchangers are heat exchangers that are made of corrugated frames on plates, the latter of which can be customised. They are typically used in applications requiring a liquid-liquid exchange. They allow for easy cleaning and maintenance, due to which they are extensively deployed in major industries such as chemical and food and beverages, among others.
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Based on type, the market is divided into:
• Welded
• Gasketed
• Brazed
• Others
On the basis of application segments, the market is segmented into:
• Chemical and Petrochemical
• HVAC and Refrigeration
• Food and Beverage
• Oil and Gas
• Power Generation
• Pulp and Paper
• Others
The major regional markets of plate and frame heat exchangers are:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The growth of the plate and frame heat exchangers is being driven by the rising use of such heat exchangers in power generation. As the demand for combined heat and power (CHP) systems is increasing, plate and frame heat exchangers are increasingly deployed in them, which is propelling the market growth. The growing demand for renewable energy is surging the deployment of plate and frame heat exchangers in renewable power generation plants, which is augmenting the industry growth. Moreover, the development of innovative plate and frame heat exchangers to reduce costs, boost heat exchange, and enhance energy efficiency is anticipated to significantly contribute to the market growth.
Key Market Players
The major players in the market are Hisaka Works, Ltd., Kelvion Holding GmbH, Danfoss Group, Fischer Maschinen- und Apparatebau GmbH, SGL Carbon SE, and Koch Industries, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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