Plate and Frame Heat Exchangers Market size to grow at a CAGR of 5.1% from 2022 to 2027; Europe to account for 34% of the market growth

NEW YORK, May 31, 2023 /PRNewswire/ -- The plate and frame heat exchangers

NEW YORK, May 31, 2023 /PRNewswire/ -- The plate and frame heat exchangers market size is expected to grow by USD 1,617.18 million from 2022 to 2027. The market is expected to be progressing at a CAGR of 5.1% as per the latest Technavio market research report. Europe is estimated to account for 34% of the market's overall growth. Owing to factors such as increased reliance on the internet and social media, and continued technological advancements in the data center industry, the number of data centers in the region has increased. Governments in the European Union have enacted data retention laws to support cloud adoption and Safe Harbor. Along with the heat exchanger system, the cold climate conditions in the region help to cool the data center system more effectively and efficiently. This encourages companies to set up more data centers in the region. Hence, the construction of new data centers will boost the demand for HVAC systems and therefore for plate and frame heat exchangers in Europe. For more insights on the market share of various regions- Download sample report in MINUTES

Plate and Frame Heat Exchangers Market: Rising demand for plate and frame heat exchangers from end-users to drive growth

The rising demand for plate and frame heat exchangers from end-users is the major factor that drives the global plate and frame heat exchangers market growth.

Plate and frame heat exchangers are used in power generation to enable efficient operations. Additionally, they are also used as cooling equipment in the industrial sector. They are cooled with a coolant that regulates the operating temperature of the system.

And owing to the increase in energy demand and power consumption, the application range of plate and frame heat exchangers is expanding along with the growth of all the above industries.

Hence, such factors are expected to increase the demand for plate and frame heat exchangers across the globe and are likely to drive the growth of the market during the forecast period.

Plate And Frame Heat Exchangers Market: Expansion And Addition Of New Manufacturing Capacities

The expansion and the addition of new manufacturing capacities are the trends that will fuel the global plate and frame heat exchangers market growth.

Market vendors employ organic strategies to a large extent in order to gain a competitive advantage. Resultantly, major suppliers are expanding their manufacturing capacities to serve a large number of customers.

A few cases involve Kelvion Manufacturing expanding its heat exchanger manufacturing capacity to meet the growing demand for heat exchangers in the North American market.

Additionally, the new advanced facility consists of a research and customer training area and primarily supplied heat exchangers to European customers.

Hence, the organic strategies adopted by the market vendors will have a positive impact on the market and influence the growth of the market during the forecast period.

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Some of the key Plate And Frame Heat Exchangers Market Players:

The plate and frame heat exchangers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Advanced Industrial Components Inc., Alfa Laval AB, American Plate Exchanger APE, API Heat Transfer Inc., Avingtrans plc, Baffles cooling systems, Danfoss AS, Dover Corp., FISCHER Maschinen u. Apparatebau GmbH, FUNKE Warmeaustauscher Apparatebau GmbH, Hisaka Works Ltd., ITT Inc., Kelvion Holding GmbH, Process Engineers And Associates, S.A. Armstrong Ltd., SPX FLOW Inc., Taco Comfort Solutions, Thermaline Inc., Xylem Inc., and Paul Mueller Co. Inc.

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Plate And Frame Heat Exchangers Market: Segmentation Analysis

This market research report segments the plate and frame heat exchangers market by end-user (chemical, power, HVAC, refrigeration, and oil and gas and others), type (gasketed, welded, and brazed), and geography (Europe, North America, APAC, Middle East and Africa, and South America).

The market share growth by the chemical segment will be significant during the forecast period. The growth of the segment is because the plate and frame heat exchangers that resist corrosion and prevent cross-contamination are widely used in chemical industries. Plate and frame heat exchangers are a basic type of heat transfer equipment widely used in a variety of applications in the chemical process industry. Moreover, the exchangers for the chemical industry can be used in many applications such as heating and cooling of basic, intermediate, and final products and heat recovery or temperature control of vessels, reactors, and autoclaves. Hence, such factors contribute to the growth of the segment during the forecast period.

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Plate And Frame Heat Exchangers Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.1%

Market growth 2023-2027

USD 1,617.18 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.2

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 34%

Key countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global plate and frame heat exchangers market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Historic Market Size

5.1 Global Plate and Frame Heat Exchangers Market 2017 - 2021

6 Historic Market Size

6.1 Global Plate and Frame Heat Exchangers Market 2017 - 2021

6.2 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.3 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.4 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.5 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.6 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.7 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.8 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.9 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

6.10 Global Plate and Frame Heat Exchangers Market by Segment – Historic Analysis 2017 - 2021

7 Five Forces Analysis

7.1 Five forces summary

7.2 Bargaining power of buyers

7.3 Bargaining power of suppliers

7.4 Threat of new entrants

7.5 Threat of substitutes

7.6 Threat of rivalry

7.7 Market condition

8 Market Segmentation by End-user

8.1 Market segments

8.2 Comparison by End-user

8.3 Chemical - Market size and forecast 2022-2027

8.4 Power - Market size and forecast 2022-2027

8.5 HVAC - Market size and forecast 2022-2027

8.6 Refrigeration - Market size and forecast 2022-2027

8.7 Oil and gas and others - Market size and forecast 2022-2027

8.8 Market opportunity by End-user

9 Market Segmentation by Type

9.1 Market segments

9.2 Comparison by Type

9.3 Gasketed - Market size and forecast 2022-2027

9.4 Welded - Market size and forecast 2022-2027

9.5 Brazed - Market size and forecast 2022-2027

9.6 Market opportunity by Type

10 Customer Landscape

10.1 Customer landscape overview

11 Geographic Landscape

11.1 Geographic segmentation

11.2 Geographic comparison

11.3 Europe - Market size and forecast 2022-2027

11.4 North America - Market size and forecast 2022-2027

11.5 APAC - Market size and forecast 2022-2027

11.6 Middle East and Africa - Market size and forecast 2022-2027

11.7 South America - Market size and forecast 2022-2027

11.8 US - Market size and forecast 2022-2027

11.9 Germany - Market size and forecast 2022-2027

11.10 China - Market size and forecast 2022-2027

11.11 UK - Market size and forecast 2022-2027

11.12 Canada - Market size and forecast 2022-2027

11.13 Market opportunity by geography

12 Drivers, Challenges, and Trends

12.1 Market drivers

12.2 Market challenges

12.3 Impact of drivers and challenges

12.4 Market trends

13 Vendor Landscape

13.1 Overview

13.2 Vendor landscape

13.3 Landscape disruption

13.4 Industry risks

14 Vendor Analysis

14.1 Vendors covered

14.2 Market positioning of vendors

14.3 Advanced Industrial Components Inc.

14.4 Alfa Laval AB

14.5 American Plate Exchanger APE

14.6 API Heat Transfer Inc.

14.7 Avingtrans plc

14.8 Danfoss AS

14.9 Dover Corp.

14.10 FISCHER Maschinen u. Apparatebau GmbH

14.11 Hisaka Works Ltd.

14.12 ITT Inc.

14.13 Kelvion Holding GmbH

14.14 S.A. Armstrong Ltd.

14.15 SPX FLOW Inc.

14.16 Taco Comfort Solutions

14.17 Xylem Inc.

15 Appendix

15.1 Scope of the report

15.2 Inclusions and exclusions checklist

15.3 Currency conversion rates for US$

15.4 Research methodology

15.5 List of abbreviations

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Contacts

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