Product Code: 978-1-68038-720-9
Plate And Frame Heat Exchangers Market Growth & Trends:
The global plate and frame heat exchangers market size is anticipated to reach USD 8.63 billion by 2030 and is anticipated to expand at a CAGR of 5.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rapid growth in the chemical & petrochemical industries, coupled with rapid industrialization in the Asia Pacific region, is expected to propel the demand for plate & frame heat exchangers in the coming years.
According to the India Brand Equity Foundation (IBEF), the pharmaceuticals industry is recognized as the sunrise sector for the economy of the country in the Union Budget-2022. It is predicted to triple in size in the next few years. According to the Economic Survey for 2021 - 2022, the pharmaceutical industry in India is projected to reach USD 65 billion by 2024. The growth of the industry in the country can be attributed to the leadership of domestic manufacturers that offer generic pharmaceutical formulations. Thus, the growing pharmaceuticals industry in India is expected to lead to surged demand for plate & frame heat exchangers used in it during the forecast period.
Most processes in the petrochemical industry involve high pressure and temperature, thereby necessitating the optimization of heat transfer as well as the enhancement of energy savings. Factors such as the type of fluid heated or cooled govern the choice of reactor design in petrochemical production facilities. Temperature control plays a key role in the petrochemical production process to minimize the formation of undesired by-products. This necessitates the requirement for heat exchangers such as plate & frame heat exchangers to enhance productivity and reduce energy loss in the reactors.
The plate & frame heat exchanger is an essential part of the power generating units and plants as it is required for the evaporation and condensation of working fluids, extraction of heat, cooling of lube oil, and cooling of motor cooling water. The heat exchanger is a low-cost, effective, and efficient means of heat transfer. The European Union is installing new power generation plants to ensure efficient energy consumption, which is in line with the norms set by the European Parliament in 2009. The new and efficient heat exchangers, which are installed in the power generating plants, are expected to reduce the overall energy consumption. Such government initiatives are expected to drive the growth of the plate & frame heat exchangers industry over the forecast period.
Plate And Frame Heat Exchangers Market Report Highlights:
- In terms of product, the gasketed segment dominated in 2023 with 56.4% revenue share. The physical design of the gasket plate & frame heat exchanger allows easy removal of plates for expansion, cleaning, or replacement, which further reduces the maintenance cost. As gasketed plate & frame heat exchangers are easy to clean, they are typically utilized for pharmaceutical and food processing, where a high degree of sanitation is required.
- Welded plate & frame heat exchangers are similar to gasketed ones; however, in the case of welded heat exchangers, the plates are welded together. Welded plate & frame heat exchangers are ideal for transferring fluids containing corrosive materials with high temperatures as these heat exchangers are extremely durable.
- The repair & maintenance service segment dominated the market, as repair & maintenance of plate & frame heat exchangers are essential for their proper efficiency and performance. With stringent rules and regulations, maintenance of plate & frame heat exchangers in a timely manner is of vital importance.
- Plate & frame heat exchangers are used in the chemical processing industry (CPI) on account of their properties, such as design flexibility and high corrosion resistance. Their properties provide them with the ability to handle fluids having varying levels of solids. These heat exchangers are majorly used in the production processes of sulfuric acid, nitric acid, phosphoric acid, and urea.
- Europe dominated the market in 2023 owing to the region's commitment to environmental sustainability and stringent energy efficiency regulations are driving industries to adopt advanced heat transfer solutions. Plate & frame heat exchangers, known for their high thermal efficiency and versatility, are ideal for meeting these requirements across manufacturing, chemical processing, and power generation applications.
- In February 2024, Kelvion Holding GmbH introduced a new high-pressure, laser-welded cassette for industrial heat pump (HPL100S) under the HPL series. This series merges the high efficiency of plate heat exchangers with the robustness of laser-welded cassettes. Designed for both commercial and industrial heat pump systems, the semi-welded plate heat exchanger offers a one-of-a-kind solution capable of handling very high pressures of up to 63 bar-g and temperatures reaching 170 °C.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Plate & Frame Heat Exchangers Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Concentration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Raw Material Outlook
- 3.3.2. Component Outlook
- 3.3.3. Manufacture Outlook
- 3.3.4. Service Provider Outlook
- 3.3.5. Distribution Outlook
- 3.3.6. End-user Outlook
- 3.4. Technology Overview
- 3.5. Regulatory Framework
- 3.6. Free Trade Agreements (FTAs)
- 3.6.1. Impact Of Free Trade Agreements On The Market
- 3.7. Market Dynamics
- 3.7.1. Market Drivers Analysis
- 3.7.2. Market Restraints Analysis
- 3.7.3. Market Opportunity Analysis
- 3.7.4. Market Challenge Analysis
- 3.8. Plate & Frame Heat Exchangers Market Analysis Tools
- 3.8.1. Porter's Analysis
- 3.8.1.1. Bargaining power of the suppliers
- 3.8.1.2. Bargaining power of the buyers
- 3.8.1.3. Threats of substitution
- 3.8.1.4. Threats from new entrants
- 3.8.1.5. Competitive rivalry
- 3.8.2. PESTEL Analysis
- 3.8.2.1. Political landscape
- 3.8.2.2. Economic and Social Landscape
- 3.8.2.3. Technological landscape
- 3.8.2.4. Environmental Landscape
- 3.8.2.5. Legal Landscape
- 3.9. Economic Mega Trend Analysis
- 3.9.1. Covid-19 Impact On The Market
- 3.9.2. Russia-Ukraine War Impact On The Market
Chapter 4. Plate & Frame Heat Exchangers Market: Product Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Plate & Frame Heat Exchangers Market: Product Movement Analysis, 2023 & 2030 (USD Billion)
- 4.3. Brazed
- 4.3.1. Brazed Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Gasketed
- 4.4.1. Gasketed Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5. Welded
- 4.5.1. Welded Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5.1.1. Welded Market Revenue Estimates and Forecasts, By Product, 2018 - 2030 (USD Billion)
- 4.6. Others
- 4.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Plate & Frame Heat Exchangers Market: End-use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Plate & Frame Heat Exchangers Market: End-use Movement Analysis, 2023 & 2030 (USD Billion)
- 5.3. Chemical
- 5.3.1. Chemical Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. Food & Beverage
- 5.4.1. Food & Beverage Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.5. HVAC & refrigeration
- 5.5.1. HVAC & refrigeration Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.6. Oil & Gas
- 5.6.1. Oil & Gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.7. Power Generation
- 5.7.1. Power Generation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.8. Pulp & Paper
- 5.8.1. Pulp & Paper Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.9. Others
- 5.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Plate & Frame Heat Exchangers Market: Service Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Plate & Frame Heat Exchangers Market: Service Movement Analysis, 2023 & 2030 (USD Billion)
- 6.3. Inspection
- 6.3.1. Inspection Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Cleaning
- 6.4.1. Cleaning Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.5. Repair & Maintenance
- 6.5.1. Repair & Maintenance Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.6. Others
- 6.6.1. Other Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Plate & Frame Heat Exchangers Market: Region Estimates & Trend Analysis
- 7.1. Plate & Frame Heat Exchangers Market Share, By Region, 2023 & 2030 (USD Billion)
- 7.2. North America
- 7.2.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.2. U.S.
- 7.2.2.1. U.S. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.3. Canada
- 7.2.3.1. Canada Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3. Europe
- 7.3.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.2. France
- 7.3.2.1. France Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.3. Germany
- 7.3.3.1. Germany Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.4. Italy
- 7.3.4.1. Italy Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.5. Spain
- 7.3.5.1. Spain Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.6. UK
- 7.3.6.1. UK Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.2. China
- 7.4.2.1. China Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.3. India
- 7.4.3.1. India Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.4. Japan
- 7.4.4.1. Japan Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.5. South Korea
- 7.4.5.1. South Korea Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.6. Australia
- 7.4.6.1. Australia Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5. Central & South America
- 7.5.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5.3. Argentina
- 7.5.3.1. Argentina Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6. Middle East & Africa
- 7.6.1. Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.2. South Africa
- 7.6.2.1. South Africa Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.3. UAE
- 7.6.3.1. UAE Plate & Frame Heat Exchangers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Market Share Analysis, 2023
- 8.5. Company Heat Map Analysis, 2023
- 8.6. Vendor Landscape
- 8.7. Competitive Dashboard Analysis
- 8.8. SWOT Analysis, Public Company
- 8.9. Strategy Mapping
- 8.10. Company Profiles
- 8.10.1. Alfa Laval
- 8.10.1.1. Participant's Overview
- 8.10.1.2. Financial Performance
- 8.10.1.3. Product Benchmarking
- 8.10.1.4. Recent Developments
- 8.10.2. API Heat Transfer
- 8.10.2.1. Participant's Overview
- 8.10.2.2. Financial Performance
- 8.10.2.3. Product Benchmarking
- 8.10.2.4. Recent Developments
- 8.10.3. Danfoss
- 8.10.3.1. Participant's Overview
- 8.10.3.2. Financial Performance
- 8.10.3.3. Product Benchmarking
- 8.10.3.4. Recent Developments
- 8.10.4. Kelvion Holding GmbH
- 8.10.4.1. Participant's Overview
- 8.10.4.2. Financial Performance
- 8.10.4.3. Product Benchmarking
- 8.10.4.4. Recent Developments
- 8.10.5. Nexson Group
- 8.10.5.1. Participant's Overview
- 8.10.5.2. Financial Performance
- 8.10.5.3. Product Benchmarking
- 8.10.5.4. Recent Developments
- 8.10.6. Barriquand Group
- 8.10.6.1. Participant's Overview
- 8.10.6.2. Financial Performance
- 8.10.6.3. Product Benchmarking
- 8.10.6.4. Recent Developments
- 8.10.7. SPX Flow
- 8.10.7.1. Participant's Overview
- 8.10.7.2. Financial Performance
- 8.10.7.3. Product Benchmarking
- 8.10.7.4. Recent Developments
- 8.10.8. Hisaka Works Limited
- 8.10.8.1. Participant's Overview
- 8.10.8.2. Financial Performance
- 8.10.8.3. Product Benchmarking
- 8.10.8.4. Recent Developments
- 8.10.9. Tranter, Inc.
- 8.10.9.1. Participant's Overview
- 8.10.9.2. Financial Performance
- 8.10.9.3. Product Benchmarking
- 8.10.9.4. Recent Developments
- 8.10.10. WCR, Inc.
- 8.10.10.1. Participant's Overview
- 8.10.10.2. Financial Performance
- 8.10.10.3. Product Benchmarking
- 8.10.10.4. Recent Developments
- 8.10.11. Gooch Thermal Systems, Inc.
- 8.10.11.1. Participant's Overview
- 8.10.11.2. Financial Performance
- 8.10.11.3. Product Benchmarking
- 8.10.11.4. Recent Developments
- 8.10.12. Shineheat Corp.
- 8.10.12.1. Participant's Overview
- 8.10.12.2. Financial Performance
- 8.10.12.3. Product Benchmarking
- 8.10.12.4. Recent Developments
- 8.10.13. Elanco Heat Transfer Systems
- 8.10.13.1. Participant's Overview
- 8.10.13.2. Financial Performance
- 8.10.13.3. Product Benchmarking
- 8.10.13.4. Recent Developments
- 8.10.14. HFM
- 8.10.14.1. Participant's Overview
- 8.10.14.2. Financial Performance
- 8.10.14.3. Product Benchmarking
- 8.10.14.4. Recent Developments
- 8.10.15. Kinam Engineering Pvt. Ltd.
- 8.10.15.1. Participant's Overview
- 8.10.15.2. Financial Performance
- 8.10.15.3. Product Benchmarking
- 8.10.15.4. Recent Developments