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North America Plate Heat Exchanger Market Trends

Report ID: GMI11484
Published Date: Sep 2024
Report Format: PDF

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North America Plate Heat Exchanger Market Trends

North America plate heat exchanger industry is set to grow owing to growing focus on energy efficiency across industries, increased demand for compact heat exchanger solutions, and advancements in material technology. Favorable regulatory policies, efforts to reduce energy consumption, need to comply with environmental norms and introduction of enhance technologies will complement the industry landscape. Furthermore, rising demand for heating and cooling systems in residential and commercial buildings, as well as an increased emphasis on utilizing waste heat from industrial processes will complement the industry growth.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size of North America plate heat exchanger is projected to reach over USD 1.6 billion by 2032, with an estimated CAGR of 8.1% from 2024 to 2032. The growth is driven by increasing energy demand, stringent emission control regulations, and substantial investments in large-scale industrial operations.

The chemical segment is expected to exceed USD 470 million by 2032. Growth is fueled by increasing demand for diverse chemical products and the adoption of advanced heat exchanger solutions, incorporating digital technologies like sensors and data analytics, to enhance control, real-time monitoring, and predictive maintenance.

The U.S. plate heat exchanger market is projected to grow to reach over USD 1.2 billion by 2032. This growth is supported by the expansion of emerging sectors such as petrochemicals, chemicals, energy, and manufacturing, alongside a growing focus on reducing emissions and energy consumption.

Major companies leading the North America plate heat exchanger market include ALFA LAVAL, API Heat Transfer, Danfoss, SWEP International, Xylem, Paul Mueller Company, SPX FLOW, Kelvion Holding, and Funke, among others.