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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.
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.
Why is the demand for plate heat exchanger rising in chemical application?
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.
What factors are influencing plate heat exchanger market growth in Asia Pacific?
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.
How big is the plate heat exchanger market?
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.
Who are the key plate heat exchanger industry players?
ALFA LAVAL, Accessen Group Co., Ltd., API Heat Transfer, BARRIQUAND Group, Beltecno, Danfoss, Dry Coolers, FUNKE W