Brazed Plate Heat Exchangers Market Report
RA07189
Brazed Plate Heat Exchangers Market by Product (Single-circuit and Multi-circuit), Application (HVAC-R, Chemical & Petrochemical, Food & Beverage, Power Generation, Heavy Industry, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Brazed Plate Heat Exchangers Overview
Brazed plate heat exchangers are compact and efficient devices used to transfer heat between two fluids. The design consists of thin plates stacked together, with alternating passages for the hot and cold fluids. These plates are brazed, or bonded, together to create a strong, leak-tight unit. Such heat exchangers offer high heat transfer rates due to their large surface area and turbulent flow patterns, resulting in improved energy efficiency and reduced space requirements compared to traditional alternatives. Brazed plate heat exchangers find extensive applications in HVAC systems, refrigeration, industrial processes, and renewable energy systems. Their effectiveness in heat transfer, compact size, and durability have driven adoption across various industries. Their maintenance-friendly design and suitability for high-pressure and high-temperature applications further contribute to their popularity.
Global Brazed Plate Heat Exchangers Market Analysis
The global brazed plate heat exchangers market size was $1.00 billion in 2022 and is predicted to grow with a CAGR of 6.5%, by generating a revenue of $1.83 billion by 2032.
COVID-19 Impact on Global Brazed Plate Heat Exchangers Market
The emergence of Covid-19 significantly affected the brazed plate heat exchangers market. These heat exchangers play a crucial role in various industries, including HVAC, refrigeration, and industrial processes. The pandemic disrupted supply chains and manufacturing operations, leading to fluctuations in production and availability of these heat exchangers. The market saw a decline in demand as industries scaled back investments due to economic uncertainties. Travel restrictions and lockdowns slowed construction and industrial activities, impacting the need for new heat exchanger installations. Maintenance and replacement projects were postponed, affecting aftermarket sales.
Conversely, sectors like pharmaceuticals and healthcare experienced heightened demand for heat exchangers to support vaccine production and medical equipment. This somewhat mitigated the overall downturn. Market players adapted by focusing on online sales channels and remote support for clients. The shift towards remote work posed challenges in terms of customer engagement and project execution.
Growing Demand for Brazed Plate Heat Exchangers from Various Industries to Drive the Market Growth
Brazed plate heat exchangers are highly used in various industries, such as petrochemical, oil & gas, chemical, HVACR, food & beverages, and power generation. In addition, increased demand for products & services by these industries across the globe are expected to act as a major driving factor for the brazed plate heat exchangers market. Besides, the brazed plate heat exchanger market has witnessed steady growth due to increasing demand for energy-efficient solutions and advancements in manufacturing technologies. Various companies, both established players and newer entrants, offer a range of options, catering to diverse needs. As industries continue to prioritize sustainability and cost-effectiveness, the market for brazed plate heat exchangers is expected to thrive. Moreover, the high adoption of brazed plate heat exchangers due to their wide application in a complex series of processes, such as separation, evaporation, cooling, heating, condensing and others.
High Costs to Restrain the Market Growth
Initial investment and replacement expenses can be higher in brazed plate heat exchangers as compared to other heat exchanger types. The intricate manufacturing process and specialized materials contribute to these elevated costs, which is the major factor likely to impede the market growth. Besides, the concern of its susceptibility to corrosion is another limiting factor. The materials used in the plates might not withstand aggressive substances, leading to a shortened lifespan and reduced performance. Moreover, the compact design, while space-efficient, can hinder cleaning and maintenance efforts.
Advancements in Brazed Plate Heat Exchangers to Drive Excellent Opportunities
The brazed plate heat exchanger presents several promising avenues for future opportunities. Its efficiency and compact design make it an attractive option for various industries, such as HVAC & refrigeration and industrial processes. These sectors are increasingly focused on energy efficiency and reducing carbon footprints and the heat exchanger's ability to transfer heat effectively aligns with these goals. In addition, ongoing advancements in materials and manufacturing techniques offer the potential for improved performance and durability. This could lead to extended lifespan, reduced maintenance requirements, and enhanced resistance to corrosive environments, expanding the range of applications and increasing customer satisfaction. Furthermore, emerging markets present an untapped potential for the brazed plate heat exchanger as developing economies continue to industrialize, the demand for efficient heat exchange solutions will rise.
Global Brazed Plate Heat Exchangers Market Share, by Product, 2022
The multi-circuit sub-segment accounted for the highest market share in 2022. The dominance of multi-circuit brazed plate heat exchangers (BPHEs) can be attributed to their superior thermal efficiency, compact design, and versatility. These BPHEs consist of multiple circuits stacked together, allowing for efficient heat transfer between two fluids without mixing them. Besides, unlike other heat exchanger types, multi-circuit BPHEs offer a higher heat transfer surface area within a smaller footprint. This feature is particularly valuable in industries where space is a constraint. Moreover, multi-circuit BPHEs find wide application in various industries, including HVAC, refrigeration, and industrial processes. Their ability to handle different fluid types, temperatures, and pressures further adds to their appeal.
Global Brazed Plate Heat Exchangers Market Share, by Application, 2022
The HVAC-R sub-segment accounted for the highest market share in 2022. Brazed plate heat exchangers have found their dominance in the realm of HVAC-R due to their exceptional efficiency and versatility. Their compact design, constructed from thin plates joined together, facilitates superior heat transfer between fluids. Such efficiency is crucial in heating, ventilation, air conditioning, and refrigeration (HVAC-R) systems, where precise temperature regulation and energy conservation are paramount. precise temperature control is vital for optimal performance in HVAC-R. Brazed plate heat exchangers facilitate this by ensuring rapid heat transfer between fluids, contributing to quick and accurate adjustments in temperature. This speed and accuracy are especially vital in applications where maintaining consistent temperatures directly affects human comfort and equipment efficiency. Furthermore, the corrosion-resistant materials used in these heat exchangers align with HVAC-R requirements, as these systems frequently deal with varying fluid compositions and moisture levels. This resistance ensures prolonged equipment life and minimizes maintenance.
Global Brazed Plate Heat Exchangers Market Share, by Region, 2022
The Europe brazed plate heat exchangers market generated the largest revenue in 2022. The prominence of Europe in the utilization of brazed plate heat exchangers can be attributed to a convergence of factors that have cultivated a favorable environment for their widespread adoption. The industries in the region have displayed a robust emphasis on energy efficiency and sustainability, propelling the demand for innovative heat exchange technologies. This has fuelled the popularity of brazed plate heat exchangers due to their exceptional heat transfer efficiency, compact design, and compatibility with a diverse range of applications. Furthermore, the region's stringent regulatory framework concerning environmental standards and emissions has motivated industries to seek efficient heat exchange solutions to meet these requirements. The compactness and effectiveness of brazed plate heat exchangers align well with space limitations and the need for optimized performance. Moreover, Europe’s extensive focus on industries, such as HVAC, refrigeration, and automotive manufacturing has created a fertile ground for the utilization of brazed plate heat exchangers, which excel in managing thermal loads within these sectors.
Competitive Scenario in the Global Brazed Plate Heat Exchangers Market
Product development and collaborations are the common strategies followed by the key companies. Some of the leading brazed plate heat exchangers market players are Alfa Laval, Danfoss, Kelvion Holding GmbH, SWEP International AB, Xylem Inc., API Heat Transfer, AIC, Hisaka Works, Ltd., Charts Industries, Inc, and Kaori Heat Treatment Co. Ltd.
| Aspect | Particular |
| Historical Market Estimations | 2020-2022 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product |
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| Segmentation by Application |
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| Key Companies Profiled |
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Q1. What is the size of the global brazed plate heat exchangers market?
A. The size of the global brazed plate heat exchangers market was over $1.00 billion in 2022 and is projected to reach $1.83 billion by 2032.
Q2. Which are the major companies in the brazed plate heat exchangers market?
A. Alfa Laval, Danfoss, Kelvion Holding GmbH, SWEP International AB, Xylem Inc., and API Heat Transfer.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Europe region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and investment are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. AIC, Hisaka Works, Ltd., Charts Industries, Inc, and Kaori Heat Treatment Co. Ltd. are investing more on R&D activities.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Brazed Plate Heat Exchangers Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Brazed Plate Heat Exchangers Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Brazed Plate Heat Exchangers Market, By Material
5.1. Overview
5.2 HVACR
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 Chemical
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Food & beverage
5.4.1 Definition, key trends, growth factors, and opportunities
5.4.2 Market size analysis, by region, 2020-2027
5.4.3 Market share analysis, by country, 2020-2027
5.5 Power
5.5.1 Definition, key trends, growth factors, and opportunities
5.5.2 Market size analysis, by region, 2020-2027
5.5.3 Market share analysis, by country, 2020-2027
5.6 Heavy industries
5.6.1 Definition, key trends, growth factors, and opportunities
5.6.2 Market size analysis, by region, 2020-2027
5.6.3 Market share analysis, by country, 2020-2027
5.7 Others
5.7.1 Definition, key trends, growth factors, and opportunities
5.7.2 Market size analysis, by region, 2020-2027
5.7.3 Market share analysis, by country, 2020-2027
5.8 Research Dive Exclusive Insights
5.8.1 Market attractiveness
5.8.2 Competition heatmap
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6. Brazed Plate Heat Exchangers Market, By End Use
6.1. Overview
6.2 Evaporator
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Condenser
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Economizer
6.4.1 Definition, key trends, growth factors, and opportunities
6.4.2 Market size analysis, by region, 2020-2027
6.4.3 Market share analysis, by country, 2020-2027
6.5 Research Dive Exclusive Insights
6.5.1 Market attractiveness
6.5.2 Competition heatmap
7. Brazed Plate Heat Exchangers Market, By Region
7.1 North America
7.1.1 U.S
7.1.1.1 Market size analysis, By Material, 2020-2027
7.1.1.2 Market size analysis, By End Use, 2020-2027
7.1.2 Canada
7.1.2.1 Market size analysis, By Material, 2020-2027
7.1.2.2 Market size analysis, By End Use, 2020-2027
7.1.3 Mexico
7.1.3.1 Market size analysis, By Material, 2020-2027
7.1.3.2 Market size analysis, By End Use, 2020-2027
7.1.4 Research Dive Exclusive Insights
7.1.4.1 Market attractiveness
7.1.4.2 Competition heatmap
7.2 Europe
7.2.1 Germany
7.2.1.1 Market size analysis, By Material, 2020-2027
7.2.1.2 Market size analysis, By End Use, 2020-2027
7.2.2 UK
7.2.2.1 Market size analysis, By Material, 2020-2027
7.2.2.2 Market size analysis, By End Use, 2020-2027
7.2.3 France
7.2.3.1 Market size analysis, By Material, 2020-2027
7.2.3.2 Market size analysis, By End Use, 2020-2027
7.2.4 Spain
7.2.4.1 Market size analysis, By Material, 2020-2027
7.2.4.2 Market size analysis, By End Use, 2020-2027
7.2.5 Italy
7.2.5.1 Market size analysis, By Material, 2020-2027
7.2.5.2 Market size analysis, By End Use, 2020-2027
7.2.6 Rest of Europe
7.2.6.1 Market size analysis, By Material, 2020-2027
7.2.6.2 Market size analysis, By End Use, 2020-2027
7.2.7 Research Dive Exclusive Insights
7.2.7.1 Market attractiveness
7.2.7.2 Competition heatmap
7.3 Asia-Pacific
7.3.1 China
7.3.1.1 Market size analysis, By Material, 2020-2027
7.3.1.2 Market size analysis, By End Use, 2020-2027
7.3.2 Japan
7.3.2.1 Market size analysis, By Material, 2020-2027
7.3.2.2 Market size analysis, By End Use, 2020-2027
7.3.3 India
7.3.3.1 Market size analysis, By Material, 2020-2027
7.3.3.2 Market size analysis, By End Use, 2020-2027
7.3.4 Australia
7.3.4.1 Market size analysis, By Material, 2020-2027
7.3.4.2 Market size analysis, By End Use, 2020-2027
7.3.5 South Korea
7.3.5.1 Market size analysis, By Material, 2020-2027
7.3.5.2 Market size analysis, By End Use, 2020-2027
7.3.6 Rest of Asia-Pacific
7.3.6.1 Market size analysis, By Material, 2020-2027
7.3.6.2 Market size analysis, By End Use, 2020-2027
7.3.7 Research Dive Exclusive Insights
7.3.7.1 Market attractiveness
7.3.7.2 Competition heatmap
7.4 LAMEA
7.4.1 Brazil
7.4.1.1 Market size analysis, By Material, 2020-2027
7.4.1.2 Market size analysis, By End Use, 2020-2027
7.4.2 Saudi Arabia
7.4.2.1 Market size analysis, By Material, 2020-2027
7.4.2.2 Market size analysis, By End Use, 2020-2027
7.4.3 UAE
7.4.3.1 Market size analysis, By Material, 2020-2027
7.4.3.2 Market size analysis, By End Use, 2020-2027
7.4.4 South Africa
7.4.4.1 Market size analysis, By Material, 2020-2027
7.4.4.2 Market size analysis, By End Use, 2020-2027
7.4.5 Rest of LAMEA
7.4.5.1 Market size analysis, By Material, 2020-2027
7.4.5.2 Market size analysis, By End Use, 2020-2027
7.4.6 Research Dive Exclusive Insights
7.4.6.1 Market attractiveness
7.4.6.2 Competition heatmap
8. Competitive Landscape
8.1 Top winning strategies, 2020-2027
8.1.1 By strategy
8.1.2 By year
8.2 Strategic overview
8.3 Market share analysis, 2020-2027
9. Company Profiles
9.1 Alfa Laval (Sweden)
9.1.1 Overview
9.1.2 Business segments
9.1.3 Product portfolio
9.1.4 Financial performance
9.1.5 Recent developments
9.1.6 SWOT analysis
9.2 Kelvion (Germany)
9.2.1 Overview
9.2.2 Business segments
9.2.3 Product portfolio
9.2.4 Financial performance
9.2.5 Recent developments
9.2.6 SWOT analysis
9.3 SWEP (Sweden)
9.3.1 Overview
9.3.2 Business segments
9.3.3 Product portfolio
9.3.4 Financial performance
9.3.5 Recent developments
9.3.6 SWOT analysis
9.4 Danfoss (Denmark)
9.4.1 Overview
9.4.2 Business segments
9.4.3 Product portfolio
9.4.4 Financial performance
9.4.5 Recent developments
9.4.6 SWOT analysis
9.5 Xylem (US)
9.5.1 Overview
9.5.2 Business segments
9.5.3 Product portfolio
9.5.4 Financial performance
9.5.5 Recent developments
9.5.6 SWOT analysis
9.6 and others
9.6.1 Overview
9.6.2 Business segments
9.6.3 Product portfolio
9.6.4 Financial performance
9.6.5 Recent developments
9.6.6 SWOT analysis
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