Global Plate and Frame Heat Exchangers Market Report and Forecast 2024-2032

Global Plate and Frame Heat Exchangers Market Outlook

The global plate and frame heat exchangers market attained a value of more than USD 4.36 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.53% to reach over USD 7.68 billion by 2032.

Rising Demand for Plate and Frame Heat Exchangers in the Paper and Pulp Industry Bolstering the Market Growth

The increasing use of plate and frame heat exchangers to enhance the cost-effectiveness and efficient heat transfer in the paper and pulp industry is bolstering the market growth. Plate and frame heat exchangers enable the recovery of heat in pulp production to boost the energy-efficiency, which is propelling the growth of the industry. Moreover, the minimal installation costs and investment required by plate and frame heat exchangers are surging their deployment, which is bolstering the industry growth. The development of plate and frame heat exchangers that operate with fibrous fluids is expected to drive the market growth.

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The growing demand for plate and frame heat exchangers in the heating, ventilation, and air condition systems is fuelling the market growth. It is extensively used in industrial HVAC systems to promote waste heat recovery and prevent gas leaks, which is augmenting the industry growth. Moreover, the lightweight and excellent heat transfer capacity of plate and frame heat exchangers are surging their utilisation in various applications, thus significantly contributing to the growth of the industry.

Plate and Frame Heat Exchangers: Market Segmentation

Plate and frame heat exchangers are equipment that are made of corrugated frames on plates. The plates can be compressed or added in accordance with the requirement for heat exchange, which makes them versatile. They are typically deployed for liquid-liquid exchange at medium pressures. Plate and frame heat exchangers provide a high value for heat transfer coefficient, due to which they are extensively used in various applications.

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The major types of plate and frame heat exchangers are:

• Welded
• Gasketed
• Brazed 
• Others

The market can be broadly categorised on the basis of its application segments into:

• Chemical and Petrochemical
• HVAC and Refrigeration
• Food and Beverage
• Oil and Gas
• Power Generation
• Pulp and Paper
• Others

The EMR report looks into the regional markets of plate and frame heat exchangers like North America, Europe, the Asia Pacific, Latin America,  and the Middle East and Africa.

Growing Use of Plate and Frame Heat Exchangers in Power Generation to Augment the Industry Growth

The market growth of plate and frame heat exchangers in power generation is augmenting the market growth. The deployment of plate and frame heat exchangers to form combined heat and power (CHP) system is augmenting the growth of the market. In addition, plate and frame heat exchangers are increasingly deployed to save heat energy while enhancing the overall efficiency of power generation plants. As plate and frame heat exchangers are extensively deployed in nuclear power generation plants, the growing demand for sustainable energy is estimated to significantly contribute to the growth of the market.

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The development of innovative plate and frame heat exchangers to boost heat exchange performance, reduce cost, enhance efficiency, and counteracts fouling problem, is anticipated to propel the market growth. The use of metals such as copper to increase durability of plate and frame heat exchangers while enabling them to withstand challenging temperature and pressure weather conditions are estimated to invigorate the industry growth. In addition, advanced plate and frame heat exchangers that can be utilised in versatile applications, such as HVAC, engine heating, and dairy production, among others, are increasingly preferred, which is predicted to provide further impetus to the growth of the industry in the forecast period.

Key Industry Players in the Global Plate and Frame Heat Exchangers Market

The report presents a detailed analysis of the following key players in the global plate and frame heat exchangers market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Hisaka Works, Ltd.
• Kelvion Holding GmbH
• Danfoss Group
• Fischer Maschinen- und Apparatebau GmbH
• SGL Carbon SE
• Koch Industries, Inc. 
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report