Plate and Frame Heat Exchanger Market size was estimated at USD 3.35 billion in 2014 and is projected to reach USD 5.99 billion by 2022. It is expected to experience a significant growth over the forecast period. This can be attributed to growing use in applications such as commercial, industrial and engineering sectors in addition to rising product utilization, especially in residential & commercial HVAC, automotive segments.
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Market Synopsis of Plate and Frame Heat Exchanger Market:
The industry is identified by
growing emphasis on enhanced efficiency standards together with technological
improvements and new developments. These factors are expected to reduce total
ownership expenses and improve durability & efficiency levels of heat
exchangers over the next eight years. Need for power generation coupled with
infrastructural expansions in the energy sector is expected to serve the growth
over the next seven years.
Plate and frame heat exchanger
industry is identified by a regular procurement of raw material supplies such
as stainless steel, EPDM rubber and chloroprene rubber. However, chloroprene
rubber in addition to stainless steel has fluctuating prices of raw materials
that are expected to hamper market growth. Technological advancements and
innovations in the gasket, frame and plate designs are anticipated to increase
the heat transfer efficacy, reduce operating costs, maintenance costs and
investment. The market is expected to be driven by new product development
through the implementation of various technical innovations
In 2014, frame heat exchanger and
gasketed plate were the leading product segments capturing approximately 50.0%
of the market revenue. Widespread application in power plants owing to compact
size and lower maintenance has resulted in this high market penetration. It is
widely used for cooling, heating, evaporation, condensation and heat recovery
applications. The market is expected to have a positive impact on account of
growing gasketed heat exchanger demand, especially in petrochemical and power
generation and automotive sector.
Increasing use in floor heating,
economizers, refrigerant evaporators, oil coolers, condensers and super-coolers
is expected to serve the brazed plate heat exchanger market significantly
however, the market can face a few challenges with respect to competition from
new market players thereby impacting the growth of plate heat exchanger
industry from 2016 to 2024. Further, the conventional technology is being
replaced with highly efficient substitutes which are expected to pose a major
threat to market growth. On the other hand, welded plate heat exchanger is
anticipated to experience high growth owing to its rising use in numerous
industries such as petrochemical, automobile, paper manufacturing and
pharmaceuticals on account of improved features in performance.
In 2014, HVAC contributed to over
20.0% of the overall market and is anticipated to witness high growth in the
next eight years. Asia Pacific is expected to fuel demand in the sector on
account of growing construction projects in Asia Pacific over the review
period. Rising need for efficient thermal management in commercial and
residential establishments coupled with increasing consumer spending is
anticipated to propel HVAC demand from 2016 to 2024. HVAC systems form a key
segment under heat exchangers. Rising awareness concerning energy management
and conservation and cutback in energy bills is expected to propel demand for
the product in HVAC sector.
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Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Plate and Frame Heat
Exchanger: Market Variables, Trends & Scope
Chapter 4 Plate and Frame Heat
Exchanger: Product Estimates & Trend Analysis
Chapter 5 Plate and Frame Heat
Exchanger: Application Estimates & Trend Analysis
Chapter 6 Plate and Frame Heat
Exchanger: End-use Estimates & Trend Analysis
Chapter 7 Plate and Frame Heat
Exchanger: Industrial End-use Estimates & Trend Analysis
Chapter 8 Plate and Frame Heat
Exchanger: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Plate and Frame Heat
Exchanger: Manufacturers Company Profiles
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