Brazed Plate Heat Exchangers Market Statistics
The global brazed plate heat exchangers market is projected to drive at a CAGR of 7.1% and likely to reach an estimated value of USD 1.12 bn by 2024 in comparison to its valuation of 0.79bn in 2020.
The global brazed-plate heat exchanger market is projected to witness robust growth in the coming years. This is primarily driven by the increase in the demand for efficient energy storage systems and the rising installation of industrial facilities such as power plants, food processing plants, and other large industrial structures. In addition, increasing focus on the green building sector and stringent government regulations are also expected to drive the brazed-plate heat exchanger market over the forecast period.
Rapid Urbanization to Drive the Brazed Plate Heat Exchangers Market
The global brazed heat plate exchangers market is expected to be driven by rapid urbanization. Increasing investment in the energy sector by the government, increasing adoption of LEDs in street lights and indoor lighting, and rising demand for energy-efficient appliances are expected to propel the HVAC market. Advantages of brazed plate heat exchangers are their lightweight, high strength, low cost, ease of design and installation, ability to withstand high temperatures, flexibility in design, and large transmission capacity. These heat exchangers are used in various applications such as power generation, industrial process, geothermal, chemical and petrochemical, food and beverage, oil & gas, mining, etc. are projected to boost the growth opportunities in the global brazed plate heat exchangers market in the coming years.
The major factors restraining the market growth of brazed-plate heat exchangers include the high cost of raw material, stringent government regulations, and innovations in the new types of heat exchangers.
The increasing demand for efficient and environment-friendly energy storage systems, rising demand for the efficient cooling system, and growing adoption of industrial plants by various industries are some of the key factors expected to drive the global brazed plate heat exchangers market during the forecast period.
Growing Demand for Energy Efficiency to Augment the Sales of Brazed Plate Heat Exchangers
The focus is also being placed on promoting distributed energy generation, such as solar and wind energy, on reducing the demand for fossil fuels. For example, in the U.S., the Energy Independence and Security Act of 2007, among other governmental programs, has led to growth opportunities for the brazed plate heat exchangers market. Thus, a shift from fossil fuels to renewable energy has created a tremendous demand for heat exchangers. Furthermore, stringent emission standards set by the U.S. government for the transportation sector, including light-duty vehicles, heavy-duty engines, and aircraft, are expected to drive demand for heat exchangers.
Low Maintenance Cost to Boost the Multi-Circuit Segment
Based on type, the market has been categorized into single circuit exchangers and multi-circuit exchangers. Growing awareness among the users regarding the importance of maintaining a healthy indoor environment and reducing costs associated with the HVAC system is expected to drive the growth of multi-circuit heat exchangers. Increasing investment in infrastructure projects such as the government’s construction of airports, hospitals, and power plants is expected to drive this segment.
Furthermore, single circuit brazed plate heat exchangers can be used in various industrial and commercial applications, thereby increasing their demand over the forecast period. These applications include pharmaceutical, food, chemical, and other industries. Moreover, single circuit brazed plate heat exchangers is extensively used in residential buildings for heating and cooling purpose. Thus, the single circuit is expected to witness moderate growth during the forecast period.
The HVAC segment is expected to lead during the forecast period based on application. With stringent government regulations regarding chemicals in air conditioning systems, the demand for brazed plate heat exchangers is expected to rise. Moreover, brazed plate heat exchangers are highly durable and are resistant to corrosion, which further contributes to their increasing demand.
Simultaneously, the industrial segment is projected to witness significant growth during the forecast period. These exchangers are primarily installed in small and medium-sized industries as they are compact and easy to install and can be easily moved to another location. Moreover, they do not require much maintenance and do not require a large amount of space. These types of exchangers are widely used in pharmaceuticals, food, beverages, and chemical industries. The increasing demand for small and medium-sized enterprises is the primary factor that is anticipated to drive the growth in this segment. Moreover, they can be easily retrofitted into existing plants and installed in new locations. They have been extensively used in pharmaceuticals, paints & coatings, food & beverages, chemicals, etc.
Growing Adoption of Renewable Source of Energy to Drive the Asia Pacific Market
The market in the Asia-Pacific region is projected to be the largest during the forecast period owing to the increasing use of renewable energy sources, growing demand for efficient and environment-friendly energy storage systems, and rising installation of industrial facilities such as power plants, food processing plants, and other large industrial installations. The increasing investments in the construction sector of many countries in the region are expected to fuel the growth of the HVAC industry. For example, China has been investing a large amount of money in constructing buildings as well as other infrastructure with the aim of improving its economy.
Europe is likely to grow at a significant pace during the forecast period. Increasing the adoption of HVAC systems in commercial buildings and distribution centers is expected to fuel the region’s demand for brazed plate heat exchangers. The Healthcare sector is expected to be another significant growth driver for brazed plate heat exchangers in the region.
The growing construction activities across the U.S. is expected to fuel the market growth during the forecast period. Moreover, increasing awareness regarding the benefits of HVAC systems in industrial applications and manufacturing processes across the U.S. is expected to boost the HVAC market in the country. Moreover, stringent government regulations related to installing HVAC systems in residential buildings are expected to further fuel the market growth in the country.
Competitive Landscape
The companies are investing in research and development, and companies can develop new products that can be tested for quality assurance and can be tested for efficacy
In Feb 2022, Kelvion Brazed PHE GmbH commissioned a study in which the best way to prevent water-borne diseases is to follow a few simple rules. In this study, participants were provided with a list of hygiene tips and asked to rate their effectiveness.
In Jan 2022, Danfoss Sensing Solutions announced doubling its production by 130% 2022 and building on solid demand growth in the industrial and consumer markets.
Some of the key players in the market are as follows-
- Danfoss A/S
- Alfa Laval AB
- Kelvion Holding GmbH
- GEA Group Aktiengesellschaft
- SPX flow, Inc
- Hisaka Works Ltd
Product Outlook
- Single Circuit
- Multi-Circuit
Application OutlookÂ
- HVAC
- Industrial
- Others
Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Greece
- The NetherlandsÂ
Asia Pacific
- Japan
- China
- IndiaÂ
Latin America
- Mexico
- Brazil
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- UAEÂ
Frequently Asked Questions
At what rate the brazed plate heat exchangers market is expected to grow?
The brazed plate heat exchangers market is expected to grow at a CAGR of 7.1% from 2020 to 2024
What are the factors driving the growth of the brazed plate heat exchangers market?
Demand for efficient energy storage systems and rising installation of industrial facilities such as power plants, food processing plants to drive the market during the forecast period.
What are the market restraints during the forecast period?
High cost of raw material is projected to impede the market during the forecast years.
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Product Outlook
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Product Outlook, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Product Outlook, 2022-2032
5.3.1. Single Circuit
5.3.2. Multi-Circuit
5.4. Y-o-Y Growth Trend Analysis By Product Outlook, 2017-2021
5.5. Absolute $ Opportunity Analysis By Product Outlook, 2022-2032
6. Global Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Application Outlook
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Application Outlook, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Application Outlook, 2022-2032
6.3.1. HVAC
6.3.2. Industrial
6.3.3. Others
6.4. Y-o-Y Growth Trend Analysis By Application Outlook, 2017-2021
6.5. Absolute $ Opportunity Analysis By Application Outlook, 2022-2032
7. Global Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021
7.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. East Asia
7.3.5. South Asia
7.3.6. Oceania
7.3.7. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Country
8.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
8.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Product Outlook
8.2.3. By Application Outlook
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Outlook
8.3.3. By Application Outlook
8.4. Key Takeaways
9. Latin America Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Country
9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Argentina
9.2.1.4. Chile
9.2.1.5. Peru
9.2.1.6. Rest of Latin America
9.2.2. By Product Outlook
9.2.3. By Application Outlook
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Outlook
9.3.3. By Application Outlook
9.4. Key Takeaways
10. Europe Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. Italy
10.2.1.3. France
10.2.1.4. U.K.
10.2.1.5. Spain
10.2.1.6. Russia
10.2.1.7. BENELUX
10.2.1.8. Rest of Europe
10.2.2. By Product Outlook
10.2.3. By Application Outlook
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Outlook
10.3.3. By Application Outlook
10.4. Key Takeaways
11. East Asia Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.2. By Product Outlook
11.2.3. By Application Outlook
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Outlook
11.3.3. By Application Outlook
11.4. Key Takeaways
12. South Asia Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Thailand
12.2.1.3. Malaysia
12.2.1.4. Indonesia
12.2.1.5. Rest of South Asia
12.2.2. By Product Outlook
12.2.3. By Application Outlook
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Outlook
12.3.3. By Application Outlook
12.4. Key Takeaways
13. Oceania Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Product Outlook
13.2.3. By Application Outlook
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product Outlook
13.3.3. By Application Outlook
13.4. Key Takeaways
14. MEA Brazed Plate Heat Exchangers Market Analysis 2017-2021 and Forecast 2022-2032, By Country
14.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021
14.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032
14.2.1. By Country
14.2.1.1. GCC
14.2.1.2. Rest of MEA
14.2.2. By Product Outlook
14.2.3. By Application Outlook
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product Outlook
14.3.3. By Application Outlook
14.4. Key Takeaways
15. Key Countries Brazed Plate Heat Exchangers Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Product Outlook
15.1.2.2. By Application Outlook
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Product Outlook
15.2.2.2. By Application Outlook
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Product Outlook
15.3.2.2. By Application Outlook
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Product Outlook
15.4.2.2. By Application Outlook
15.5. Argentina
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Product Outlook
15.5.2.2. By Application Outlook
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. Â By Regional
16.3.2. Â By Product Outlook
16.3.3. Â By Application Outlook
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Danfoss A/S
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Alfa Laval AB
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Kelvion Holding GmbH
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. GEA Group Aktiengesellschaft
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. SPX flow, Inc
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Hisaka Works Ltd
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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