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Plate Heat Exchanger Market Analysis

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

Plate Heat Exchanger Market Analysis

The chemical application and is set to witness significant growth and surpass USD 2.5 billion by 2032 owing to the growing demand for diverse chemical products, combined with a increasing focus on energy efficiency and sustainability. Stringent safety regulations and compliance requirements in chemical processing operations, coupled with integration of digital technologies such as sensors and data analytics into heat exchanger systems, enable real- enhanced control, real time monitoring, and predictive maintenance in customized chemical premises, will further influence the business landscape.


Asia Pacific Plate Heat Exchanger Market Size, 2022 - 2032 (USD Billion)

The Asia Pacific plate heat exchanger market is set to grow at USD 3 billion by 2032. Significant growth across sectors including petrochemicals, chemicals, energy, and manufacturing, particularly in emerging economies, continuous expansion of manufacturing facilities, along with increased investments in energy-intensive industries, will positively influence the industry landscape.

For example, according to the Japanese Ministry of Economy, Trade and Industry (METI), as of December 2023, Japan's overall crude oil imports reached approximately 12.4 billion liters in November 2023, an increase of 8.7% from previous month, where imports were around 11.4 billion liters. Moreover, rapid industrialization and urbanization are accelerating construction activities, creating a demand for energy-efficient heating & cooling systems across buildings will complement the industry outlook.

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.

Plate Heat Exchanger Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 298
  • Countries covered: 29
  • Pages: 235
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