Home » Building & Construction, Business, Manufacturing & Industry, Technology » Plate And Frame Heat Exchanger Market Is Expected To Grow Rapidly Owing To Huge Demand In Power & Energy Sector Till 2022: Grand View Research, Inc.
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GrandViewResearch.com has announced the addition of “Global Plate And Frame Heat Exchanger Market Analysis And Segment Forecasts To 2022” Market Research report to their Database.

The plate and frame heat exchanger market is set to attain approximately USD 5.9 billion by 2022. It was worth USD 3.3 billion in 2014. The market faces rapid growth on account of commercial, industrial, and engineering applications. Demand from power sector and expansion in energy infrastructure sector will spur market growth over the next seven years (2015 to 2022 – forecast period).

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The plate and frame heat exchanger market focuses on improving the efficiency of its products. This combined with technological innovations would lower the costs and increase the durability & efficiency of these products. The market is marked by constant supply of raw materials like nitrile rubber gasket, chloropene rubber, EPDM (ethylene propylene diene monomer), etc. But fluctuating prices of chloropene rubber and stainless steel can negatively impact the market.

Products of the market are welded plate heat exchangers, brazed plate heat exchangers, and gasketed plate & frame heat exchangers. Gasketed exchangers were the leading product accounting for over 50% revenues in 2014. Their high growth can be attributed to use in power plants due to their compact size and low maintenance.

Welded heat exchangers should register high growth due to their widespread applications in the industries of automotives, pharmaceuticals, paper manufacturing, and petrochemicals. Brazed heat exchangers are expected to experience growth due to their applications in oil coolers, economizers, floor heating, and super-coolers.

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End-users of the plate and frame heat exchanger market comprise oil & gas, food & beverages, chemicals, HVAC & refrigeration, pulp & paper, and power. Chemicals were the leading segment with almost 24% shares (with regards to demand) in 2014. The chemical industry of Germany and China will improve overall market demand.

HVAC & refrigeration is likely to register 8% CAGR during the forecast period. Energy conservation awareness and effective thermal systems in commercial & residential areas could spur this end-user.

Europe was the largest market and accounted for around 37.5% shares in 2014. It should rise at 6.3% CAGR in the seven years ahead. Asia Pacific occupied 20% shares in the worldwide plate and frame heat exchanger market in 2014. Governmental initiatives to develop thermal & solar energy in Japan and India could drive regional demand.

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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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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