The plate and frame heat exchanger market is expected to grow at a CAGR of 6.5% to reach USD 8.1 billion by 2028 from USD 5.9 billion in 2023. The market growth is driven by various factors, including the significant demand from end-use industries such as chemical processing, food and beverages, petrochemicals and oil and gas, paper and pulp, HVAC (Heating, Ventilation, and Air-Conditioning), and power generation.
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The key global players in the plate and frame heat exchanger market, such as Alfa Laval (Sweden), Danfoss (Denmark), Kelvion Holding GmbH (Germany), SPX Flow (US), XYLEM (US), API Heat Transfer (US), H. Guntner (UK) LTD. (England), Boyd Corporation (US), Johnson Controls (Ireland), and Wabtec Corporation (US) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches and expansions.
ALFA LAVAL
Alfa Laval is one of the global leaders in providing products and solutions in heat transfer, separation, and fluid handling. Alfa Laval heat transfer products include exhaust gas economizers, oil/gas-fired composite steam boilers, oil/gas-fired hot water and waste heat recovery heaters, cooling, and heating systems. The company operates under three divisions: Energy Division, Food & Water, and Marine Divisions. Alfa Laval provides heat exchangers through the energy division. Alfa Laval has a business presence in North America, South America, the Middle East & Africa, Asia Pacific, and Europe. It runs 37 production facilities in Europe, the US, South America, and Asia-Pacific. The business works closely with its clients to deliver tailored business solutions, and it has a presence in more than 100 countries for sales and services, with 110 service centers in over 160 countries.
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Danfoss
Danfoss is one of the leading manufacturers in providing energy-efficient solutions for heating, cooling, and power management. Also offers a wide range of heat exchangers with various applications, such as industrial processes, refrigeration, and air conditioning, are available. It offers a variety of products for different end-use industries, including food and beverage, chemical, heavy, and other industries. Danfoss drives, climate solutions, and power solutions make up the company’s three operating segments. It provides a wide range of products under the Danfoss climate solutions segment, including compressors, valves, condensers, pressure pumps, and heat exchangers. The company operates 97 production sites in 20 countries in Europe, North America, the Middle East & Africa, and Asia Pacific with sales & distribution offices and operations in more than 100 countries with 41,928 employees worldwide. It has 34 dedicated sites to produce Danfoss climate solutions products in 15 counties.
Asia Pacific is anticipated to be the fastest-growing market for plate and frame heat exchangers during the forecast period, in terms of value. This growth is driven by rapid industrialization, increasing investments in infrastructure, and rising demand from industries such as HVAC, power generation, and chemicals. The region’s expanding manufacturing sector and focus on energy efficiency further bolster market expansion.
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