Brazed Plate Heat Exchangers Market Size, Share, Industry, Forecast and outlook (2023-2030)
The brazed Plate Heat Exchangers Market is Segmented By Product (Single Circuit, Multi-Circuit), By Material (Copper, Aluminum, Stainless Steel, Others), By Application (Evaporator, Condenser, Economizer), By End-User (HVAC, Chemical, Food & Beverage, Power, Heavy Industries, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2029.
Brazed Plate Heat Exchangers Market Size, Demand Insights
The global brazed plate heat exchangers market has reached at a CAGR 5.9% during the forecast period 2023-2029.
Brazed plate heat exchangers are liquid-to-liquid heat exchangers that are compact, highly efficient, and long-lasting. The heat exchangers can be utilized for both heating and cooling. Though, industries employ cooling functions more than heating to avoid overheating volatile substances damaging equipment.
Brazed Plate Heat Exchangers Market Scope and Summary
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Metrics |
Details |
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Market CAGR |
5.9% |
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Segments Covered |
By Product, By Material, By Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Heat exchangers are stacked brazed plates that are often corrugated to increase surface area and heat transfer. The efficient counterflow design of brazed plate heat exchangers allows 90% of the material for heat transmission. The heat exchangers can be up to 80% to 90% smaller than traditional shell-and-tube designs. Therefore, the market is thriving due to the advantages of brazed plate heat exchangers, such as their small footprint, low maintenance cost, and cost-efficiency.
Brazed Plate Heat Exchangers Market Dynamics and Trends
High efficiency with lower life-cycle costs drives the market of brazed plate heat exchangers over conventional plate heat exchangers. However, the demountable nature of brazed plate heat exchangers will likely restrain the market.
High efficiency with lower life-cycle costs drive the market of brazed plate heat exchangers over conventional plate heat exchangers
One of the most typical issues with conventional plate heat exchangers is an erratic supply of all parallel channels. The fluid spreads more in the initial channels than the last to balance the pressure drop. Furthermore, as the number of plates increases, even distribution decreases, resulting in a drop in the exchanger's total performance.
On the other hand, brazed plate heat exchangers are one of the most efficient heat transmission methods. They are intended to give an unrivaled performance at the lowest possible life-cycle cost. Furthermore, because the plates are furnace brazed at 1100°C, these heat exchangers lack headers, tie bars, and sealing gaskets. As a result, the brazed plate heat exchangers are more compact, lighter, and less bulky than ones with gaskets.
Therefore, brazed plate heat exchangers are now widely utilized due to their advantages, such as their small footprint, low maintenance cost, and cost-efficiency over many industries, including HVAC, heavy industries, and power generation.
The demountable nature of brazed plate heat exchangers is likely to restraint the market
The fundamental disadvantage of brazed plate heat exchangers is that they are not removable or demountable, making maintenance and cleaning impossible or difficult. There is no flexibility because the number of plates cannot be changed. Furthermore, pressure loss is another problem while utilizing the brazed plate heat exchangers. To accomplish the desired tiny pressure drop, one must simultaneously use numerous brazed plate heat exchangers, which raises the volume and, consequently, the overall expense.
COVID-19 Impact on Brazed Plate Heat Exchangers Market Growth
HVAC is one of the significant industries that uses brazed plate heat exchangers. The pandemic wreaked havoc on practically every industry, including HVAC. According to data from Associated Builders and Contractors (ABC), the beginning of the year saw the most difficulties for nonresidential development. The pandemic caused a 4.8% drop in the GDP of the U.S. in the first quarter of 2020 alone.
However, the HVAC industry's future appears bright as demand continues to soar and the economy emerges from the depths of the recession. The increased ubiquity of the vaccine and decreased uncertainty surrounding HVAC projects will help businesses prosper after a particularly difficult year.
Brazed Plate Heat Exchangers Market Segment and Shares Analysis
Based on material, the global brazed plate heat exchangers market is segmented into copper, aluminum, stainless steel, and others.
Copper is the most thermally conductive common metal. The metal boasts a thermal conductivity of pure copper 386.00 W/(mK) at 20°C, which, combined with its relatively low specific heat of roughly 0.385 J/g°C, accounts for its prominence in heat exchangers. As a result, copper-brazed plate heat exchangers offer efficient heat transfer while maintaining a modest footprint. The brazed plate heat exchangers require no maintenance, have a long service life, and resist high temperatures and exceptionally high design pressures. In addition, heat exchangers are utilized for various cooling, heating, evaporation, and condensing tasks.
However, copper has less flexibility than aluminum, making it more difficult to mold into certain shapes. As a result, designers working on a plate-fin exchanger, a form of heat exchanger that combines plates and finned chambers to transfer heat between fluids, may discover that aluminum is a superior fit for the fins.
Brazed Plate Heat Exchangers Market Geographical Analysis
Based on geography, the global brazed plate heat exchangers market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa.
Europe is projected to have a significant market share due to rising HVAC and industrial sectors that use heat exchangers in water treatment, power generation, and other applications. Germany, Italy, and France are expected to impact the global brazed plate heat exchangers market. The countries include several major companies in the brazed plate heat exchangers market, including Alfa Laval, Danfoss, SWEP, and Kelvion.
In October 2019, SWEP, a Sweden-based company, added a new pressure class model, B427-Y, to their brazed plate heat exchangers lineup. The new type is intended for clients that require low-pressure heat exchangers. Similarly, in July 2016, Danfoss acquired Sondex Holding A/S, a global maker of heat transfer equipment. The acquisition aided the company in improving its product range and fortifying its position in the brazed plate heat exchangers industry.
Furthermore, rising government investments in infrastructure development will likely enhance product demand in the region. Increasing infrastructure development, such as offices, buildings, and industries, is predicted to increase demand for HVAC systems and, as a result, demand for brazed plate heat exchangers.
Brazed Plate Heat Exchangers Companies and Competitive Landscape
The global brazed plate heat exchangers market is consolidated and highly competitive with multinational businesses. The major companies include Alfa Laval, Kelvion, SWEP, Danfoss, Xylem, API Heat Transfer, Boyd Corporation, Hisaka Works, Kaori, and Paul Mueller Company. The major players in the market are known to incorporate numerous market strategies to achieve growth in the global brazed plate heat exchangers market; these include mergers, acquisitions, product launches, contributions, and collaborations.
Alfa Laval
Overview: Alfa Laval is a Europe-based company specializing in developing specialist products and solutions for heavy industry. The company is headquartered in Lund, Sweden. Further, Alfa Laval has subsidiaries in more than 35 countries globally.
Product Portfolio: Alfa Laval offers copper-brazed plate heat exchangers that deliver efficient heat transfer with a small footprint. The products are available in both single- and multi-circuit
Key Development:
- In October 2019, Alfa Laval introduced the CB210, a new brazed plate heat exchanger variant. In this new model, the company has added various technological elements which will give more capacity in the same area while also increasing the thermal efficiency of a heating or cooling system.
Frequently Asked Questions
What is the Projected CAGR value of the Brazed Plate Heat Exchangers Market?
The brazed Plate Heat Exchangers Market is expected to grow at a CAGR of 5.9% during the forecasting period 2023-2029.
Which region controlled the global market during 2023-2029?
North America region Controls the Brazed Plate Heat Exchangers Market during 2023-2029.
Which is the fastest-growing region in the Brazed Plate Heat Exchangers Market?
Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.