Plate & frame heat exchangers offer various advantages such as compact and lightweight heat transfer surface; operate with comparatively small temperature differences. The focus of various regulatory bodies to reduce the amount of greenhouse gases for meeting the future sustainability are further driving the market for heat exchangers globally. This market intelligence report on “Plate & frame heat exchangers” makes an effort to estimate the market for plate & frame heat exchangers by type, application, and region in terms of value.
Type for plate & frame heat exchangers includes:
Applications for plate & frame heat exchangers include:
- Petrochemical and Oil & Gas
- Food & beverages
- Pulp & paper
- Power Generation
The market for plate & frame heat exchangers is projected to reach $5.5 billion by 2020. The global consumption for plate & frame heat exchangers is projected to register a CAGR of 9.30% in the next five years.
Plate & frame heat exchangers play a vital role in effective and efficient usage of energy. Plate & frame heat exchangers play an important role in the waste heat recovery process. Their simple construction allows additional advantages like easy cleaning.
The market for plate & frame heat exchangers is projected to increase in the Asia-Pacific and RoW region due rapid industrialization and surging energy prices in the future. In North America, the increasing demand for plate & frame heat exchangers can be attributed to the surging demand from end-user industries such as chemical, food & beverages, oil & gas and so on .The North American market for plate & frame heat exchangers is projected to register a CAGR of 8.30 % in the coming years.
Growing inter competition among plate & frame heat exchangers manufacturers is expected to have a low effect on the growth of plate & frame heat exchangers market. There are certain factors that are expected to hinder the market growth in the future, such as:
- Rising cost of production
Alfa Laval AB (Sweden), GEA Group (Germany), Danfoss A/S (Denmark), SPX Corporation (U.S.) are some of the key manufacturers of plate & frame heat exchangers.
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