Plate & Frame Heat Exchangers Market Would Be Around Of $7.43 Billion by 2025

San Francisco, 28 May 2019 - The global plate and frame heat exchangers market size is projected to be valued at USD 7.43 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.3% during the forecast period. Energy infrastructure expansion along with rising demand from power generation sector is expected to drive the growth. Factors including technological innovations and rising focus on improving the efficiency standards are anticipated to lower total ownership costs and increase durability and efficiency of heat exchangers over the foreseeable future.

Growing need for heat recovery utilities in the HVAC, chemical, and food and beverage sector is expected to spur the demand for Plate and Frame Heat Exchangers (PFHE). Expanding power generation infrastructure in countries including India, China, Thailand, and Vietnam coupled with growing need for energy efficient utilities is likely to drive the PFHE market in the forthcoming years.

Welded systems accounted for 23.20% of the total market share in terms of revenue in 2018. Widespread use of welded plate and frame heat exchangers in the automobile, oil and gas, petrochemical, pharmaceutical, and paper manufacturing industries is expected to boost growth over the next seven years. High corrosion resistance coupled with less chance of leakage of welded plate and frame heat exchangers is anticipated to drive product penetration in the oil and gas industry.

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Further key findings from the report suggest:

• Gasketed plate and frame heat exchanger occupied the largest market share of 57.08% in 2018 owing to its widespread application in heating, cooling, heat recovery, evaporation, and condensation
• Chemicals emerged as the largest end-use industry and accounted for 24.01% of the total market share in terms of revenue in 2018. Petrochemical is expected witness a CAGR of 7.1% from 2019 to 2025
• Europe led with a market share of 36.12% in terms of revenue in 2018. Stringent regulations have led to the increased use of PFHE in chemical industries and refineries which is anticipated to be the major contributing factor for the regional growth
• Asia Pacific is expected to register the highest CAGR of 8.4% over the forecast period from 2019 to 2025. Rapid urbanization coupled with growing population in countries including China and India is likely to drive the growth
• The global plate and frame heat exchanger market is characterized by the presence of large number of companies. Major companies engaged in design, manufacturing, and distribution of PFHE include Danfoss, AIC S.A; Alfa Laval; Fischer Maschinen und Apparatebau GmbH; API Heat Transfer, Inc.; Kelvion Holding GmbH; Guntner GmbH & Co. KG; and Hisaka Works Limited.

Grand View Research has segmented the global plate and frame heat exchangers market on the basis of product, end use, and region:

Plate and Frame Heat Exchangers Product Outlook (Revenue, USD Million, 2015 - 2025)

• Brazed plate heat exchanger
• Gasketed plate and frame heat exchanger
• Welded plate and frame heat exchanger
• Others

Plate and Frame Heat Exchangers End Use Outlook (Revenue, USD Million, 2015 - 2025)

• Chemical
• Food & beverage
• HVAC & refrigeration
• Petrochemical
• Power generation
• Pulp & paper
• Others

Plate and Frame Heat Exchangers Regional Outlook (Revenue, USD Million, 2015 - 2025)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • France
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
• Middle East & Africa

Access Official Press Release Of This Report: www.grandviewresearch.com/press-release/global-plate-frame-heat-exchanger-market

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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