NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
plate and frame heat exchangers market size is estimated to
grow by USD 1.42 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 4.36% during the forecast
period. Rising demand for plate and frame heat
exchangers from end-users is driving market growth, with
a trend towards expansion and addition of new manufacturing
capacities. However, fouling of heat exchangers poses a
challenge. Key market players include Advanced Industrial
Components Inc., Alfa Laval AB, American Plate Exchanger, 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, Paul Mueller Co. Inc., Process Engineers And
Associates, S.A. Armstrong Ltd., SPX FLOW Inc., Taco Comfort
Solutions, Thermaline Inc., and Xylem Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
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)
|
Region
Covered
|
Europe, North America,
APAC, Middle East and Africa, and South America
|
Key companies
profiled
|
Advanced Industrial
Components Inc., Alfa Laval AB, American Plate Exchanger, 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, Paul Mueller Co. Inc., Process Engineers And
Associates, S.A. Armstrong Ltd., SPX FLOW Inc., Taco Comfort
Solutions, Thermaline Inc., and Xylem Inc.
|
Key Market Trends Fueling Growth
The Plate and Frame Heat Exchangers Market witnesses organic
growth strategies from key vendors. Through tactics like SEO,
content marketing, social media engagement, and email campaigns,
they build brand awareness, engage leads, and foster long-term
customer relationships. Alfa Laval's April
2024 expansion of their production line for printed circuit
heat exchangers is an example. These strategies promote trust,
credibility, and market growth during the forecast
period.
The Plate and Frame Heat Exchanger market is experiencing
significant growth due to the increasing demand for efficient and
cost-effective heat transfer solutions. These exchangers are widely
used in various industries such as power generation, refining, and
manufacturing. The use of renewable energy sources and the shift
towards cleaner technologies are driving the market. The market is
also witnessing advancements in materials and designs, leading to
higher performance and longer service life. Additionally, the
growing trend towards energy conservation and sustainability is
further boosting the market. Overall, the Plate and Frame Heat
Exchanger market is expected to continue its strong growth
trajectory in the coming years.
Research report provides comprehensive data on
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Market Challenges
- Plate and frame heat exchangers face significant challenges
with maintenance and cleaning due to fouling. Fouling is the
accumulation of unwanted deposits on heat transfer surfaces,
reducing efficiency and increasing pressure drop. Reasons for
fouling include crystallization, particulate matter, biological
growth, and chemical reactions. Corrosion from reactive fluids can
also contribute to fouling. Inefficient heat exchangers may lead to
production cost increases, potential shutdowns, and early metal
replacement, resulting in additional expenses for operators. These
high maintenance costs may hinder the growth of the global plate
and frame heat exchangers market.
- The Plate and Frame Heat Exchanger market faces several
challenges. One key challenge is the increasing demand for
energy-efficient and cost-effective solutions. This requires
continuous research and development to improve the design and
performance of these heat exchangers. Another challenge is the need
to comply with stringent regulations regarding safety and
environmental impact. Procurement of materials and components also
poses a challenge due to the complexity of the system and the need
for high-quality and durable parts. Additionally, the market is
highly competitive, with numerous players vying for market share.
This necessitates a focus on innovation, customer service, and cost
competitiveness to remain competitive. Finally, the global nature
of the market adds complexity, with varying regulations and market
conditions in different regions.
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challenges - Download a Sample Report
Segment Overview
This plate and frame heat exchangers market report extensively
covers market segmentation by
- End-user
- 1.1 Chemical
- 1.2 Power
- 1.3 HVAC
- 1.4 Refrigeration
- 1.5 Oil and gas and others
- Type
- 2.1 Gasketed
- 2.2 Welded
- 2.3 Brazed
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Chemical- The Plate and Frame Heat Exchanger
market is thriving due to its efficiency in heat transfer
applications. These exchangers offer cost-effective solutions for
various industries, including food and beverage, pharmaceuticals,
and chemicals. Their modular design allows for easy maintenance and
flexibility in operation. The market is expected to grow steadily,
driven by increasing demand for energy savings and improved process
efficiency.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Plate and Frame Heat Exchanger market is experiencing
significant growth due to the increasing focus on energy efficiency
and versatility in various industries. Urbanization and the
expansion of commercial buildings in developing economies are
driving the demand for these heat exchangers in HVAC systems and
commercial refrigeration. Heat recovery technologies, used
extensively in HVACR applications, are a key area of application
for plate and frame heat exchangers. Compact designs of these
exchangers are ideal for residential AC units and industrial
activities, making them essential engineering applications for
heating, ventilation, and air conditioning. Environmental
regulations and the shift towards sustainable energy infrastructure
are also contributing to the market's growth. The nuclear power
sector and other energy infrastructure projects are significant
consumers of plate and frame heat exchangers due to their high
thermal efficiency.
Market Research Overview
The Plate and Frame Heat Exchanger market encompasses the
production, sales, and installation of these heat transfer
solutions. These exchangers utilize thin plates and frames to
facilitate efficient heat transfer between two fluids without
direct contact. They are widely used in various industries such as
oil and gas, power generation, and chemical processing. The market
is driven by factors like increasing energy efficiency
requirements, rising demand for thermal energy, and advancements in
materials and technologies. Plate and Frame Heat Exchangers offer
benefits like high heat transfer rates, easy maintenance, and
flexibility in design. Applications include cooling, heating, and
vaporization processes. The market is expected to grow
significantly due to the increasing demand for sustainable energy
solutions and the need for cost-effective heat transfer
systems.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Chemical
- Power
- HVAC
- Refrigeration
- Oil And Gas And Others
- Type
-
- Geography
-
- Europe
- North America
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio