The
global plate and frame heat exchanger market is expected to reach USD 5.99
billion by 2022, according to a new report by Grand View Research, Inc. Growing
awareness towards energy efficiency coupled with construction space constraints
is expected to drive the market over the forecast period. Surging demand for
thermal management in district heating applications is expected to drive
product significance in commercial and residential sectors over the long term.
Technological
advancements along with surging requirement for heat recovery utilities in
chemical, food & beverage and HVAC sectors is expected to steer plate and
frame heat exchangers market growth. Growing energy efficient utilities need
along with expanding power generation infrastructure in economies including
India, Vietnam, China and Thailand is anticipated to drive market growth.
Welded
systems emerged as the leading product segment and accounted for over 20% of
total market revenue in 2014. Owing to its widespread use in oil & gas,
automobile, pharmaceuticals, petrochemicals and paper manufacturing industries,
the segment is expected to gain share over other counterparts over the next
seven years. This product segment is anticipated to increase penetration in oil
& gas industry owing to reduced chance of leakage and enhanced corrosion
resistance.
In depth research report on Plate and Frame Heat
Exchanger Market
Further key findings from the report suggest:
·
Global plate & frame heat
exchanger market was worth USD 3.41 billion in 2014 and is expected to reach
USD 5.99 billion by 2022, at a CAGR of 7.3% from 2015 to 2022
·
Chemicals emerged as the
leading end-use industry with demand share estimated at 23.9% in 2014. Growing
chemical & petrochemical industry particularly in the U.S., Germany and
China is anticipated to impact plate & frame heat exchangers demand
positively over the next seven years. HVAC & refrigeration is expected to
witness the highest growth of 8.0% from 2015 to 2022.
·
Europe was the leading regional
market and accounted for 37.5% of global revenue in 2014. Increasing product
use across refineries and chemical industries owing to stringent government
regulations have been the major factor contributing for high penetration.
·
Asia Pacific is expected to
witness the highest gains in its market size over the forecast period. The
region is expected to grow at an estimated CAGR of 8.4% from 2015 to 2022.
·
The global industry is
moderately fragmented with presence of large number participants across the
globe. Major companies involved in manufacturing & distribution of plate
heat exchangers include AIC S.A., API Heat Transfer, Danfoss, Fischer Maschinen-und
Apparatebau AG, Kelvion, Guntner, Hisaka Works, Alfa Laval, Kaori Heat
Treatment and SWEP International.
Grand
View Research has segmented the plate and frame heat exchanger market on the
basis of product, application and region:
Global Plate and Frame Heat Exchanger Product
Outlook (Revenue, USD Million, 2012 - 2022)
·
Brazed plate heat exchanger
·
Gasketed plate & frame heat
exchanger
·
Welded plate & frame heat
exchanger
·
Others
Global Plate and Frame Heat Exchanger End-Use
Outlook (Revenue, USD Million, 2012 - 2022)
·
Chemical
·
Food & beverage
·
HVAC & refrigeration
·
Oil & gas
·
Power generation
·
Pulp & paper
·
Others
Global Plate and Frame Heat Exchanger Regional
Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S
o
Canada
·
Europe
o
Germany
o
France
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
·
Middle East and Africa
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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