Industry Overview
Plate and frame heat exchanger are very effective tools for transferring thermal energy between two or more fluids. It consists of a frame constructed of several thin, corrugated metal plates, usually stainless steel. These plates build a system of confined channels through which the passage of hot and cold fluids alternate. In this configuration, the surface area for heat exchange is maximized.
Global plate and frame heat exchanger market was worth USD 5.28 billion in 2022 and is expected reach USD 8.15 billion by 2030 with a CAGR of 6.03% during the forecast period, i.e., 2023-2030. The global plate and frame heat exchangers market is witnessing growth due to their application in the food and beverage industry for hygiene processing, in chemical processing for effective temperature control, and in HVAC systems for energy-efficient building climate control. Plate and frame heat exchangers offer great thermal efficiency, have ability to work with delicate materials, and their small size make them ideal for a variety of uses, including optimization of chemical processes, guarantee of food safety, and increase building energy efficiency.
Furthermore, high thermal efficiency, compact size, and adaptability to a broad variety of flow rates, temperatures, and pressures are some of the main characteristics of plate and frame heat exchangers, which makes them suitable for a range of industries for diverse applications.
Geographically, the market is expanding rapidly in North America, Europe, and the Asia Pacific, as a result of large chemicals and petrochemicals industry. However, the market confronts constraints such as fouling issues, corrosion and need for regular maintenance. Overall, the plate and frame heat exchanger market offer potential prospects for market participants to develop and fulfill the growing needs of heat exchangers in chemicals, oil & gas, and food & beverages industry.
Market Segmentation
Insight by Product Type
Based on the product type, the global plate and frame heat exchanger market is segmented into gasketted, welded, and brazed. Gasketed type plate and frame heat exchangers dominated the global plate and frame heat exchanger market in 2022 with ~40% share owing to greater flexibility and ease of maintenance.
Moreover, for industries with stringent hygiene requirements, such as food processing or pharmaceutical, gaskets allow the disassembly and reassembly of plates, making it easier to clean or replace individual components. Additionally, gasketed designs can be quickly enlarged or modified to fit changing process requirements, making them more versatile to handle various fluids and temperatures.
Insight by End-User
Based on the end-use industry, the global plate and frame heat exchanger market is segmented into Oil and gas, chemicals, HVAC and refrigeration, food and beverages, power generation, pulp and paper, others. Chemicals industry held the largest share of ~24% in the global plate and frame heat exchanger market in 2022 owing to precise temperature control capabilities of these heat exchangers. Furthermore, adaptable designs of plate and frame heat exchangers allows for easy modification to handle different fluids and temperatures, making them invaluable tools for a wide range of chemical processes.
Global Plate and Frame Heat Exchanger Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018–2022
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Base Year Considered
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2023
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Forecast Period
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2023 - 2030
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Market Size in 2022
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$5.28 Billion
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Revenue Forecast in 2030
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$8.15 Billion
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Growth Rate
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CAGR 6.03%
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Segments Covered in the Report
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By Product Type and By End User
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, and Rest of the World
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Industry Dynamics
Growth Drivers
High adaptability and versatility of plate and frame heat exchangers
Plate and frame heat exchangers stand out for their outstanding thermal efficiency due to the large surface area available for heat transfer. In industries such as HVAC, food and beverages, and chemical processing, where compactness and space optimization are crucial, this efficiency is a game-changer for companies. These heat exchangers are especially useful in situations with limited space due to their small design, which provides an effective solution for uses requiring high heat transfer rates. Plate and frame heat exchangers significantly improve productivity across a range of sectors by having an impact on processes that depend on precise temperature control.
Furthermore, plate and frame heat exchangers exhibit extraordinary adaptability and versatility with efficient handling of a variety of fluids and accommodation of a range of temperatures and pressures. Because of this adaptability, they are vital instruments in a variety of sectors, including petrochemicals, power generation, and pharmaceuticals, where effective heat transmission is crucial. Heat exchangers manufacturers have also started launching dedicated plate and frame heat type of exchangers meant for specific applications in specific industries. For instance, in February 2023, Alfa Laval launched a new hygienic line of gasketed plate heat exchangers (GPHEs) especially for food and beverage manufacturers to maintain high hygiene standards and maximize productivity.
Extensive demand from oil and gas, and petrochemicals industry
In the sector of oil & gas processing, where precise temperature control is crucial, plate and frame heat exchangers play an important role.. Critical processes like distillation, evaporation, and condensation benefit greatly from their skill in achieving a close temperature approach and enabling high rates of heat transfer. Since plate and frame heat exchangers significantly improve process efficiency, which leads to lower energy consumption and higher total production yields, these heat exchangers have become essential to both the oil and gas, and petrochemical sectors. Their capacity to uphold strict temperature control guidelines guarantees that petrochemical reactions go as intended, ultimately resulting in higher-quality final end-products.
Opportunities
Growing demand from biopharmaceutical industry
Thanks to improvements in medical therapies, the biopharmaceutical sector is booming with plate and frame heat exchangers playing an important role in fermentation, purification, and sterilization processes in the industry. These heat exchangers control the temperature during fermentation, promoting the growth of microorganisms and distinguish useful bioproducts from contaminants during purification. To ensure the safety of the final product, dangerous bacteria are eliminated during sterilization. These heat exchangers also play a vital role in preserving the effectiveness, quality, and safety of biopharmaceutical production, supporting the market's pursuit of cutting-edge treatments.
Geographic Overview
- North America
- Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
The global plate and frame heat exchanger market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa region. Europe held ~32% market share in 2022; however, the Asia-Pacific region is expected to grow with the highest CAGR owing to the presence of the several large manufacturers in China, highly developed chemicals and petrochemicals industry of China, and growing demand for HVAC and refrigeration systems in the region.
Competitive Insight
Alfa Laval is a world leader in plate and frame heat exchangers and is known for its knowledge of heat transfer techniques. The company has a broad product portfolio for a variety of industries, including chemical processing, food and beverage production, and HVAC. The business stands out for its dedication to sustainability and innovation, which is seen by its ongoing attempts to improve the effectiveness and environmental performance of their heat exchangers. Alfa Laval has established itself as a reliable supplier of heat transfer systems with a presence in over 100 countries. They are market leaders in plate and frame heat exchangers, thanks to their customer-centered philosophy, which is in line with the changing demands of many sectors throughout the world. The company also places a major emphasis on research and development of new and advanced plate and frame heat exchangers.
Kelvion Holding GmbH is known for its expertise in heat exchange solutions with a comprehensive selection of premium plate and frame heat exchangers suited to numerous industrial applications. With a presence all over the world and a history spanning more than a century, Kelvion has made a name for itself as a reliable supplier of effective heat transfer systems. The company's wide range of products cater to industries such as food and beverage, chemical processing, HVAC, and power generation. It is clear from Kelvion's ongoing efforts to enhance the energy effectiveness and environmental performance of their heat exchangers that the company is dedicated to innovation and sustainability. Their cutting-edge technologies and focus on the needs of the consumer make them a major player in the industry.
Recent Development by Key Players
In May 2023, Xylem launched a new high-efficiency gasketed plate and frame heat exchanger with the additional of advanced ‘X’ plates, which increase the heat transfer thermal performance up to 20%, reduces surface area by up to 20%, and reduces material by another 15%.
In April 2023, Alfa Laval partnered with Boliden to manufacture more sustainable heat exchangers. Alfa Laval also announced that it will use Boliden’s low-carbon copper to produce brazed heat exchanger with a lower carbon footprint than its competitors. Alfa Laval is aiming to launch its first low-carbon brazed heat exchanger by the end of 2023.
Key Players Covered in the Report
Kelvion Holding GmbH, Guntner GmbH and Co. KG, Hisaka Works Ltd., HRS, Kaori Heat Treatment Co., Ltd., SGL Group, SPX Flow, AIC, GEA Group, Alfa Laval, API Heat Transfer, Danfoss Group, Fischer Maschinen, Apparatebau GmbH, Armstrong Fluid Technologies, Thermax Ltd, GU and THT, Xylem, FUNKE, LS Heat Exchange, and Kaori Heat Treatment.
The plate and frame heat exchanger market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.
Segments Covered in the Report
- Oil and gas
- Chemicals
- HVAC and refrigeration
- Food and beverages
- Power generation
- Pulp and paper
- Other End-use Industry
Region Covered in the Report
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa (MEA)
- Saudi Arabia
- U.A.E
- South Africa
- Rest of MEA
- Argentina
- Brazil
- Chile
- Rest of Latin America
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Source: VynZ Research
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Source: VynZ Research
