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Plate Heat Exchanger Market Size

Report ID: GMI8887
Published Date: Apr 2024
Report Format: PDF

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Plate Heat Exchanger Industry Analysis

Plate Heat Exchanger Market size was valued at over USD 4.4 billion in 2023 and the industry is set to experience a CAGR of 8.3% through 2032. Increasing investments in heavy-duty industrial operations, growing energy usage in building heating & cooling systems along with regulatory measures toward limiting the emissions is set to influence the industry landscape.

Plate Heat Exchanger Market

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For instance, in March 2024, the UNFCCC and the IEA unveiled a fresh collaboration phase aimed at advancing the energy pledges established during the COP28 climate conference aiming to work towards curbing global warming to 1.5 °C. Moreover, initiatives toward energy efficiency and growing need for compact & space-saving heat exchanger solutions are contributing to the industry growth.

Plate Heat Exchanger Market Report Attributes
Report Attribute	Details
Base Year:	2023
Plate Heat Exchanger Market Size in 2023:	USD 4.4 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	8.3%
2032 Value Projection:	USD 9.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	235
Tables, Charts & Figures:	298
Segments covered:	Application, and Region
Growth Drivers:	New initiatives to keep a check on the rising carbon footprint Influx of new investments across industrial infrastructure Stringent emission norms by respective administrations Stringent emission norms by respective administrations
Pitfalls & Challenges:	Significant maintenance requirements and associated operational expenses

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Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

Plate heat exchanger industry size recorded USD 4.4 billion in 2023 and is expected to register 8.3% CAGR from 2024 to 2032, owing to the rising investments in heavy-duty industrial operations, growing energy usage in building heating & cooling systems along with regulatory measures toward limiting the emissions.

The chemical application segment size will account for USD 2.5 billion by 2032 and is projected to depict substantial growth between 2024 and 2032, owing to the high demand for diverse chemical products, combined with the increasing focus on energy efficiency and sustainability.

Asia Pacific plate heat exchanger industry size is projected to be worth USD 3 billion by 2032 and is expected to expand at significant CAGR from 2024 to 2032, on account of the expansion of the petrochemicals, chemicals, energy, and manufacturing sectors and increasing investments in energy-intensive industries.

ALFA LAVAL, Accessen Group Co., Ltd., API Heat Transfer, BARRIQUAND Group, Beltecno, Danfoss, Dry Coolers, FUNKE Wärmeaustauscher Apparatebau GmbH, HFM, HISAKA WORKS LTD., HRS Heat Exchangers, Kelvion Holding GmbH, Kinam Engineering Industries, SPX FLOW, SWEP International AB, TENEZ a.s, Thermofin, UNITED HEAT EXCHANGERS, Wessels Company, Xylem are some of the major plate heat exchanger companies worldwide.