Plate and frame heat exchangers market is expected to grow over the forecast period owing to widespread use of plate and frame heat exchangers in various industrial, engineering and commercial applications including aerospace and commercial building HVAC. Rising efficiency standards coupled with global energy infrastructure expansion is expected to augment the market growth. Incremental technological improvements leading to frequent upgradation and replacement of old technologies are expected to propel the market growth over the forecast period. Moreover, widespread adoption of energy efficient plate and frame heat exchangers owing to rising environmental concerns is anticipated to increase demand for plate and frame heat exchangers across wide range of industries. Plate and frame heat exchangers find its applications in industries including power generation, oil & gas, automobile, pharmaceutical, petrochemical and paper manufacturing.
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Welded plate heat exchangers accounted for largest market segment owing to its large scale use in industries including oil & gas, automobile, petrochemical, paper and pharmaceutical pertaining to effective heat transfer and easy access for maintenance. Rising use of Gasketed plate heat exchanger in power plants owing to lower maintenance costs and compact size is expected to augment market growth. However, competition from new entrants and rising energy costs coupled with development of highly efficient heat exchangers is expected to be a major challenge for the growth of global plate and frame heat exchanger market over the forecast period.
Key market players include GEA Group, Danfoss A/S, Alfa Laval AB, SPX Corporation, Tranter Inc., SGL Carbon Technic, LLC and Taco, Inc. GEA group is involved in production of heat exchangers including plate and frame, finned tube and shell & tube. In addition, Gea group also manufactures wide range of industrial equipments including air filtration, air treatment and ash handling systems. Danfoss A/S is actively involved in manufacturing of plate and frame heat exchangers. Alfa Laval AB is actively involved in manufacturing various heat transfers, fluid separation and handling equipments. SGL Carbon Technic is actively involved in manufacturing of wide range of heat exchangers including plate & frame, cylindrical block, cubic block and multi tube bundle. Tranter Inc. is actively involved in productions of variety of heat exchangers including special purpose spiral and prime surface heat exchangers.
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