Plate and Frame Heat Exchanger Market
The global "plate & frame heat Exchanger Market" size is estimated to reach at a high CAGR during the forecast period 2024-2031.
Heat exchangers are devices that transmit heat between two or more fluids of differing temperatures (liquids, vapors, or gases). The heat transfer process might be gas-to-gas, liquid-to-gas, or liquid-to-liquid, depending on the type of heat exchanger used. It occurs through a solid separator, which prevents the mixing of fluids or direct contact with fluids with each other. Plate and frame heat exchangers are one type of heat exchanger.
It is broad, parallel channels formed by stacking thin, similar plates. Hot and cold fluids alternately pass through the channels. A gasket or welding separates plates and patterns that can be used to enhance turbulent flow. Plates are piled together to increase the heating capacity and additional plates may be added to gasket designs. The flow can be set up in either a parallel or a counterflow configuration. Because plates have a wide surface area, plate and frame heat exchangers can transfer more heat between the two fluids for a given volume than shell and tube heat exchangers.
However, Plate heat exchangers aren't ideal for every application. A Shell & Tube heat exchanger is often more cost-effective when there is a large temperature difference between two fluids. Due to the huge amount of turbulence caused by the tiny flow channels of a plate heat exchanger, there might be a considerable pressure loss. Shell & Tube heat exchangers can also be used in applications that need little pressure loss.
Market Scope
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Type, By Application, and By Region |
| 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 vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | Asia Pacific |
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Market Dynamics
Improving demand for heat recovery utilities in the chemical; Heating, Ventilation, and Air Conditioning (HVAC); and food and beverage sectors is expected to uplift the market growth for plate & frame heat exchangers.
Improving demand for heat recovery utilities in the chemical; Heating, Ventilation, and Air Conditioning (HVAC); and food and beverage sectors is expected to uplift the market growth for plate & frame heat exchangers.
To function properly, food, beverage, and pharmaceutical processing systems require the addition and removal of heat, and processes must be carefully managed to maintain proper temperatures. Heat exchangers control fluid temperatures in processing systems to meet pasteurization, filling, and food safety criteria. Heat exchangers are used in the food and beverage industry to reduce or remove microbial, making items safe to eat and preventing spoiling.
Heat exchangers can also heat or cool materials throughout various processing phases, such as filling, drying, and concentration. Heat exchangers utilize unique designs to enhance efficiency and meet processing needs for various goods with varying viscosities. Plate heat exchanger technology, for example, is critical in dairy, beverage, and processed food applications.
It provides the exact combination of temperature and holding time for precise pasteurization and ultra-high temperature treatment and regeneration in a variety of applications which includes Milk and cheese milk pasteurization, ultra-high temperature sterilization, beverage, and energy drink pasteurization, standard and pulpy juice pasteurization, beer wort heating and beer cooling and others. Thus improving demand for heat exchangers from different industries is expected to escalate the market share for the product in the forecast period.
Increasing demand for energy-efficient heat exchange systems is creating a huge opportunity for plate & frame exchangers.
Over the last several years, the global plate and frame heat exchanger industry has seen a lot of changes. Plate and frame heat exchangers are the most popular and commonly used heat recovery equipment. The global market for plate and frame heat exchangers is being driven by regulatory bodies' efforts to reduce energy usage to fulfill future sustainability goals. The use of plate and frame heat exchangers has increased dramatically in recent years and is gaining traction in several nations. Europe is currently the largest market for plate and frame heat exchangers, accounting for more than 35% of the global market.
For instance, Pasteurization is dependent on the ability of a heat exchanger to recover heat from processed milk. For pasteurization, milk has to be stored at 4°C to prevent microbial growth. Pasteurization involves heating milk to 72 °C for at least 15 seconds to kill bacteria, then cooling it to 4 °C to terminate the process and preserve the milk. The pasteurized milk's heat is used to warm the cold milk. The existing hot milk, which is also being pre-cooled, warms the incoming cold milk. Its transfer efficiency reduces the amount of energy used for heating and cooling. The process is called regenerative heat exchange or heat recovery. As much as 94 – 95% of the heat content of pasteurized milk can be recycled.
COVID-19 Impact on Plate and Frame Heat Exchanger Market Growth
The COVID-19 pandemic has hurt the global Plate & Frame Heat Exchanger market's growth. The demand for heat exchanger systems has dropped due to industrial slowdowns and travel restrictions caused by the pandemic's lockdown in many nations worldwide. As a result, it had an impact on the Plate & Frame Heat Exchanger market. End-Users of plate and frame exchangers such as food and beverages, oil and gas, chemical, and HVAC have seen a major drop during the COVID-19 period, predominantly due to a reduction in demand and supply chain disruption.
For instance, the oil and gas industries have begun to reduce operating and capital expenditures to deal with the issue, reducing the overall market share for the sector. Furthermore, countries that are net oil exporters are facing a historic double blow: a worldwide economic slowdown brought on by the COVID-19 pandemic and an oil market meltdown, with the benchmark price for US crude oil, the West Texas Intermediate, briefly falling below zero for the first time in history (in April 2020). However, the improving vaccination percentage across the globe is expected to increase the Plate & Frame Heat Exchanger market in the forecast period.
Market Segment Analysis
The global Plate & Frame Heat Exchanger Market can be segmented by type, application, and region.
Brazed plate heat exchangers are one of the most efficient systems to transfer heat which provides unparalleled performance at the lowest life-cycle cost, saving in space, energy, and maintenance.
The global Plate & Frame Heat Exchanger market-based on type is segmented into brazed, welded, and gasketed. Out of the mentioned types, brazed is expected to grow at the fastest pace in the forecast period. Brazed plate heat exchangers are one of the most efficient systems to transfer heat. They are designed to provide unparalleled performance with the lowest life-cycle cost and save in space, energy, and maintenance.
Furthermore, brazed plate heat exchangers provide a small, efficient, and maintenance-free solution for heating, cooling, evaporation, and condensing in a variety of applications. Each unit is built for task optimization, with a variety of characteristics that assure excellent thermal performance and optimal reliability. It allows for the longest feasible service life, even under exceptionally high design pressures.
In addition, The robust brazed plate heat exchanger construction requires no gaskets, eliminating their risk of leaking. It means stable thermal and hydraulic performance, with minimal maintenance and operational downtime. Furthermore, the small size saves space and allows for more flexibility in system design. Larger systems can be built unit by unit using normal doors and elevators and capacity can be easily expanded as the need grows.
Market Geographical Share
Growing demand for energy-efficient machinery in various energy-intensive manufacturing processes among various end-users of Asia-Pacific has escalated the market share for plate and frame heat exchangers in the region.
Growing concerns about energy prices are likely to motivate enterprises to implement cost-effective strategies in their industrial activities, resulting in the considerable market growth in the Asia Pacific over the forecast period. It necessitates the use of energy-efficient machinery in a variety of energy-intensive manufacturing processes. Over the projected period, new construction activities for combined heat and power (CHP) plants and nuclear capacity are likely to propel the power generation industry in Asia-Pacific.
Furthermore, rising attendance at athletic events has increased demand for utilities such as air conditioning, residential hot water delivery, and refrigeration systems, boosting demand for plate heat exchangers in the region in the forecast period. In addition, China is a market leader in the Asia Pacific for plate and frame heat exchangers, whereas India is in the market's second position. China's dominance is due to the country's tremendous growth in the chemical, food, and beverage, and oil and gas industries. During the forecast period, the plate and frame heat exchangers market in the Middle East, Africa, and Latin America is expected to rise at a modest rate.
Companies and Competitive Landscape
The Plate & Frame Heat Exchanger market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are Alfa Laval AB, GEA Group, Danfoss A/S, SPX Corporation, AIC S.A, Fischer Maschinen- und Apparatebau GmbH, Guntner GmbH & Co. KG, Hisaka Works Limited, Kelvion Holding GmbH, Armstrong Fluid Technology, and others.
The major companies are adopting several growth strategies such as acquisitions, product launches, and collaborations, contributing to the market growth of the Plate & Frame Heat Exchanger globally.
- For instance, In July 2021, Exchanger Industries Limited (EIL), a Canadian company and globally recognized designer and manufacturer of heat transfer products for the energy, industrial, and clean power generation sectors, announced the news to acquire HRS Heat Exchangers Ltd (HRS).
Alfa Laval AB
Overview: Alfa Laval operates in the energy, marine and food, and water sectors, providing expertise, products, and services to various businesses in over 100 countries. The organization is dedicated to streamlining operations, fostering responsible growth, and propelling forward - constantly going above and beyond to assist customers in attaining their business objectives and sustainability goals. Alfa Laval employs 17,500 people. In 2019, sales totaled SEK 46.5 million (about EUR 4.4 million). The company is traded on the Nasdaq OMX exchange.
Product Portfolio: The Company has a product portfolio of Plate & Frame Heat Exchangers that include:
- Alfa Laval AC74:Alfa Laval built the AC74 heat exchangers primarily for air conditioning and process cooling applications, but the environmentally friendly design opens up new opportunities for a wide range of tasks. AC74 models also have a higher kilowatt range than previous models, ranging from 50 kW to 160 kW.
Key Development
- The company launched Alfa Laval AC74: a new generation of brazed plate heat exchangers. The AC74 is designed as a versatile solution for air conditioning and process cooling. It contains proprietary innovations that improve energy efficiency and enable the use of low-GWP refrigerants (GWP).
