Brazed Plate Heat Exchangers Market is Booming globally with Marginal Growth

Posted by Mrudula Anil Karmarkar on August 31st, 2021

The global brazed plate heat exchangers market size is anticipated to be valued at USD 1.4 billion by 2025, accelerating at a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising urbanization and infrastructure developments have resulted in an increased demand for heat management systems. As a result, the demand for this market is likely to boost over the forecast period.

The small footprint of brazed plate heat exchangers has resulted in their high adoption rate in industries including HVAC, chemical, petrochemical, oil & gas, power generation, and pharmaceuticals. These exchangers offer low maintenance cost and are energy efficient. Increasing demand for energy-saving products is expected to further boost the market growth over the forecast period.

Single circuit segment was valued at USD 298.3 million in 2018 and it is expected to reach USD 470.8 million by 2025. Single circuit brazed plate heat exchangers are used for water heating applications and are highly utilized for the construction of heat pumps. Multi-circuit was the dominant segment in 2018, valued at USD 560.8 million, and it is expected to reach USD 950.0 million over the forecast period. Multi-circuit brazed plate heat exchangers are majorly used in industries with high production levels.

HVAC application segment was valued at USD 209.1 million in 2018 and is expected to be valued at USD 377.1 million over the forecast period. Brazed plate heat exchangers are highly adopted by the HVAC industry owing to their small footprint and energy efficiency. Increasing construction of residential and commercial buildings has resulted in an increased demand for HVAC systems, which, in turn, has triggered the product demand. The U.S. is expected to be the largest market by 2025 owing to an increase in the construction of residential and commercial buildings and increasing establishment of industries. Germany is expected to be the second-largest market over the forecast period owing to high rate of infrastructural development. Increasing investments in infrastructure development in Asia Pacific region are expected to boost market growth in the region over the forecast period.

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Brazed plate heat exchangers are small-sized exchangers used to transfer heat between two fluids without the risk of the fluids getting mixed. They are used for both heating and cooling purposes. Industries use cooling functions more than the heating functions to avoid overheating of volatile substances that can damage the equipment. Moreover, the market is flourishing owing to the advantageous properties of brazed plate heat exchangers including small footprint, low maintenance cost, and cost-efficiency.

Further key findings from the report suggest:

• The U.S. market, in terms of revenue, is projected to progress at a rate of 8.5% over the forecast period
• German market was valued at USD 113.3 million in 2018 and is expected to reach USD 188.3 million over the forecast period
• Industrial application segment was valued at USD 219.5 million in 2018 and it is expected to reach USD 336.8 million by 2025 with the increasing product demand in this segment
• As of 2018, India was among the largest markets in Asia Pacific and is expected to reach USD 125.8 million over the forecast period.

Alfa Laval AB; GEA Group Aktiengesellschaft; SWEP International AB; Danfoss A/S; Kelvion Holding GmbH; Hisaka Works Ltd.; and SPX flow, Inc. are the key participants in the market for brazed plate heat exchangers. The market is highly competitive and hence the players need to engage in constant innovation to maintain market position.

The companies are focusing on optimum business growth by introducing various strategies to set a benchmark. Many of the companies are investing heavily in research & development in order to continue to bring in new products to the global market. Investing in R&D elevates aids in offering differentiated products according to consumer requirements.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.