The global brazed plate heat exchangers market will exhibit a growth rate of 7.1% during the forecast period, 2020 to 2024.
The production process requires high technology to purify raw materials or extract the necessary components. Hence, the adoption of new technologies has been accelerated in recent years to reduce production costs and increase the output per unit cost, which would further drive the brazed plate heat exchangers market in the coming years.
The report by ResearchMoz provides a SWOT analysis to understand the current situation and identify critical opportunities for the market players. The report also discusses the key strategies and expected outcomes for the market players.
Power Plants Drive the Brazed Plate Heat Exchangers Market
Heat exchangers are commonly used in power generation plants to efficiently remove waste heat from water or air to be reused again instead of being released into the atmosphere as CO2. The rising demand for heat exchangers is expected to surge in the coming years, owing to rapid industrialization and urbanization, thus allowing the global brazed plate heat exchangers market in the coming years.
Demand for Sustainability to Boost the Sales of Brazed Plate Heat Exchangers Market
The increasing support from the government to use heat exchangers to reduce carbon emission and increase sustainability is expected to drive the brazed plate heat exchangers market in the coming years. The rising awareness regarding the importance of the environment and health hazards has increased the demand for brazed plate heat exchangers. An increase in the consumption of natural resources is a major factor accelerating the brazed plate heat exchangers market growth.
Heat exchangers are commonly used in power generation plants to efficiently remove waste heat from water or air so that it can be reused again instead of being released into the atmosphere as CO2. The rising demand for heat exchangers is expected in the coming few years due to rising industrialization and technological advancements. Advancements in the construction sector to reduce the cost and create an efficient environment for the growth of the brazed plate heat exchangers market are one of the major drivers.
The construction sector in China is expected to remain robust during the forecast period due to the country’s booming economy, which will positively impact the HVAC industry in the country. Moreover, the government of China has been encouraging the use of renewable energy sources such as solar and wind energy, which will allow the brazed plate heat exchangers market to dominate in the coming years.
ResearchMoz reports provide a comprehensive overview of the blazed plate heat exchangers market.
The companies are focusing on exploring marketing strategies such as product innovation, mergers, expansion, etc.
The brazed plate heat exchangers market players are –
- Danfoss A/S
- Alfa Laval AB
- Kelvion Holding GmbH
- GEA Group Aktiengesellschaft
- SPX flow, Inc
- Hisaka Works Ltd
According to the report, the global brazed plate heat exchangers market will see a 7.1% growth between 2020 and 2024.
Rising investment in the renewable energy sector is expected to drive market growth.
They are efficient at handling high temperatures, are simple to construct, and are available in various sizes. They are utilized in industrial processes, geothermal power generation, chemical and petrochemical production, food and beverage manufacturing, oil and gas extraction, etc. These features will drive the global blazed heat exchangers market.