Product Code: CH 3410
The plate & frame heat exchanger market is projected to reach USD 10.50 billion by 2030 from USD 7.21 billion in 2025, at a CAGR of 7.8%. Plate & frame heat exchangers, with their versatility and highly efficient thermal control, are essential components in HVACR systems, which have a direct correlation with the building and industrial maintenance markets. The renewed demand for HVACR equipment has been magnified due to new demand for infrastructure and urbanization through new building stock and refurbishment of existing stock in commercial and residential sectors. The HVACR sector appeals to all sectors of finance, and its growth is creating a range of heating, cooling, and energy-treatment applications requiring plate & frame heat exchangers to meet demands globally, driving the growth of the plate and frame heat exchanger sector.
Scope of the Report |
Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million), Volume (Units) |
Segments | By Type, By Application, and By Region |
Regions covered | Europe, North America, Asia Pacific, Middle East & Africa, and South America |
"Based on type, welded plate & frame heat exchanger is the second-largest type in plate & frame heat exchanger market during the forecast period, in terms of value."
Welded plate and frame heat exchangers are the second most significant types of plate and frame heat exchangers in terms of market value. They can accommodate high pressures and high temperatures, making them suitable for challenging industrial applications in the oil & gas, chemical processing, power generation, and HVAC sectors. Their compact, high-performance architectural presence provides exceptionally productive heat transfer in limited installation spaces. Their welded construction means they do not have gaskets that may fail and shut down operations or allow fluid leakages. This improves the reliability and operational safety of the heat exchanger system. Additionally, welded plate and frame heat exchangers can be literally tailored and sized to specific process needs, while their efficient maintenance and cleaning features maximize appeal across all industries, thus securing their competitive position in the marketplace.
"Based on application, chemicals is the second-fastest-growing application in the plate & frame heat exchanger market during the forecast period, in terms of value."
The chemicals segment is projected to be the second-largest application segment, showing the fastest growth in the plate & frame heat exchanger market during the forecast period, in terms of value, due to the industry's demand for dependable, effective, and corrosion-resistant heat transfer solutions. In addition, chemical processing inherently involves extremes in aggressive fluids, high temperatures, and direct evidence of strict thermal control and cleanliness, requiring the use of plate & frame heat exchangers, especially those manufactured with expert materials like titanium, Hastelloy, etc. Plate & frame heat exchangers can be configured to fit within small spaces, making them easy to maintain and relatively simple to isolate & flush to remove process media and promote efficient operation. As they handle complex and corrosive media, less downtime means the organization maximizes utilization, efficiency, and uptime. The continued global expansion of chemical manufacturing continues to benefit from highly advanced and flexible heat exchangers and assimilated ancillary equipment that contribute to the maximization of safe, efficient, and effective management of their costly process time - and identify features to optimize reliable operation and share in the heat exchanger market.
"Based on region, Asia Pacific accounts for the largest share and is projected to be the fastest-growing region in the plate & frame heat exchanger market, in terms of value."
The largest and fastest-growing region for plate & frame heat exchangers is the Asia Pacific due to heavy industrialization, increased urbanization, and economic growth occurring in major countries in the region, such as China and India. This has resulted in the demand for plate heat exchangers in several important sectors, such as chemicals, HVAC, petrochemicals, food & beverage, and oil & gas markets. The largest growth drivers include a focus on energy efficiency, investment of infrastructure and general manufacturing, and a growing push for advanced technologies. Further, other important factors include government policies promoting growth, an abundance of low-cost labor, and global, mostly major manufacturers, deciding to expand their footprint in the Asia Pacific and, as a category, have a strong market share, thrusting the region's currently dominant and fast growing position in this market. If these conditions continue, the Asia Pacific is expected to retain the leading share in terms of both, size and growth in the plate & frame heat exchanger market over the forecast period.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees is as follows:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
- By Designation: Directors- 35%, Managers - 25%, and Others - 40%
- By Region: North America - 22%, Europe - 22%, Asia Pacific - 45%, RoW - 11%
The key players in this market are ALFA LAVAL (Sweden), Danfoss (Denmark), Kelvion Holding GmbH (Germany), SPX Flow (US), XYLEM (US), API Heat Transfer (US), H. Guntner (UK) LTD. (UK), Boyd Corporation (US), Johnson Controls (Ireland), Wabtec Corporation (US), Barriquand Technologies Thermiques (France), Chart Industries (US), Funke Heat Exchanger (Germany), Hisaka Works Ltd. (Japan), Radiant Heat Exchangers Pvt. Ltd. (India), SWEP International AB (Sweden), Vahterus OY (Finland), Kaori (Taiwan), Diversified Heat Transfer (US), HRS Heat Exchangers (UK), ONDA (Italy), SECESPOL (Poland), HYDAC (Germany), Baode (China), and Thermofin (Canada).
Research Coverage
This report segments the plate & frame heat exchanger market based on type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, product launches, expansions, and mergers and acquisitions associated with the plate & frame heat exchanger market.
Key benefits of buying this report
This research report focuses on various levels of analysis, including industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the plate & frame heat exchanger market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (Stringent environmental regulations, Rising demand for HVACR equipment, Technological developments in brazed plate heat exchangers, Expansion of chemical and petrochemical industries), restraints (Volatility in raw material prices, Increasing demand for battery electric vehicles, Application limitations and alternative technologies), opportunities (Growth of plate & frame heat exchanger aftermarket, Rapid industrialization in emerging regions) and challenges (Clogging of heat exchangers, Limited serviceability of brazed plate & frame heat exchangers).
- Market Penetration: Comprehensive information on the plate & frame heat exchangers offered by top players in the global plate & frame heat exchanger market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the plate & frame heat exchanger market.
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the market for plate & frame heat exchangers across regions.
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global plate & frame heat exchanger market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the plate & frame heat exchanger market.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.3.1 MARKETS COVERED AND REGIONAL SCOPE
- 1.3.2 INCLUSIONS & EXCLUSIONS
- 1.3.3 YEARS CONSIDERED
- 1.3.4 CURRENCY CONSIDERED
- 1.3.5 UNITS CONSIDERED
- 1.4 STAKEHOLDERS
- 1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Primary interviews: Demand and supply sides
- 2.1.2.3 Key industry insights
- 2.1.2.4 Breakdown of interviews with experts
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.2 TOP-DOWN APPROACH
- 2.3 MARKET SIZE PROJECTION
- 2.4 DATA TRIANGULATION
- 2.5 FACTOR ANALYSIS
- 2.6 ASSUMPTIONS
- 2.7 LIMITATIONS AND RISKS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 SIGNIFICANT OPPORTUNITIES FOR PLATE & FRAME HEAT EXCHANGER MARKET PLAYERS
- 4.2 EUROPE: PLATE & FRAME HEAT EXCHANGER MARKET, BY APPLICATION AND COUNTRY
- 4.3 PLATE & FRAME HEAT EXCHANGER MARKET, BY TYPE
- 4.4 PLATE & FRAME HEAT EXCHANGER MARKET, BY APPLICATION
- 4.5 PLATE & FRAME HEAT EXCHANGER MARKET, BY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Stringent environmental regulations
- 5.2.1.2 Rising demand for HVACR equipment
- 5.2.1.3 Technological developments in brazed plate heat exchangers
- 5.2.1.4 Expansion of chemical and petrochemical industries
- 5.2.2 RESTRAINTS
- 5.2.2.1 Volatility in raw material prices
- 5.2.2.2 Increasing demand for battery electric vehicles
- 5.2.2.3 Application limitations and alternative technologies
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Growth of plate & frame heat exchanger aftermarket
- 5.2.3.2 Rapid industrialization in emerging regions
- 5.2.4 CHALLENGES
- 5.2.4.1 Clogging of heat exchangers
- 5.2.4.2 Limited serviceability of brazed plate & frame heat exchangers
- 5.3 VALUE CHAIN ANALYSIS
- 5.3.1 RAW MATERIAL SUPPLIERS
- 5.3.2 MANUFACTURERS
- 5.3.3 DISTRIBUTORS
- 5.3.4 END USERS
- 5.4 PORTER'S FIVE FORCES ANALYSIS
- 5.4.1 THREAT OF NEW ENTRANTS
- 5.4.2 THREAT OF SUBSTITUTES
- 5.4.3 BARGAINING POWER OF SUPPLIERS
- 5.4.4 BARGAINING POWER OF BUYERS
- 5.4.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.5 MACROECONOMIC INDICATORS
- 5.5.1 POWER GENERATION
- 5.5.2 DEMAND FOR AIR CONDITIONING (AC)
- 5.5.3 CHEMICAL SALES
- 5.6 KEY CONFERENCES & EVENTS, 2025-2026
- 5.7 KEY FACTORS AFFECTING BUYING DECISIONS
- 5.7.1 QUALITY
- 5.7.2 SERVICE
- 5.8 TARIFFS AND REGULATIONS
- 5.8.1 ASIA PACIFIC
- 5.8.2 EUROPE
- 5.8.3 NORTH AMERICA
- 5.8.3.1 US
- 5.8.3.2 Canada
- 5.9 AVERAGE SELLING PRICE ANALYSIS
- 5.9.1 AVERAGE SELLING PRICE BASED ON REGION
- 5.9.2 AVERAGE SELLING PRICE BASED ON APPLICATION, 2022-2030
- 5.9.3 AVERAGE SELLING PRICE OF TOP THREE MARKET PLAYERS, 2024
- 5.10 TECHNOLOGY ANALYSIS
- 5.10.1 MICRO/NANOSTRUCTURED SURFACES
- 5.10.2 ADDITIVE MANUFACTURING
- 5.10.3 SURFACE COATINGS
- 5.10.4 COMPUTATIONAL FLUID DYNAMICS (CFD)
- 5.10.5 INTELLIGENT MONITORING AND CONTROL SYSTEMS
- 5.11 ECOSYSTEM
- 5.12 PATENT ANALYSIS
- 5.12.1 INTRODUCTION
- 5.12.2 METHODOLOGY
- 5.12.3 DOCUMENT TYPE
- 5.12.4 INSIGHTS
- 5.12.5 LEGAL STATUS OF PATENTS
- 5.12.6 JURISDICTION ANALYSIS
- 5.12.7 TOP COMPANIES/APPLICANTS
- 5.13 TRADE ANALYSIS
- 5.13.1 IMPORT-EXPORT SCENARIO OF PLATE & FRAME HEAT EXCHANGER MARKET (HS CODE 841950)
- 5.14 CASE STUDIES
- 5.14.1 REQUIREMENT IN DISTRICT HEATING SYSTEM
- 5.15 IMPACT OF 2025 US TARIFF ON PLATE & FRAME HEAT EXCHANGER MARKET
- 5.15.1 INTRODUCTION
- 5.15.2 KEY TARIFF RATES
- 5.16 PRICE IMPACT ANALYSIS
- 5.16.1 IMPACT ON COUNTRY/REGION
- 5.16.1.1 US
- 5.16.1.2 Europe
- 5.16.1.3 Asia Pacific
- 5.17 IMPACT ON END-USE INDUSTRIES
6 PLATE & FRAME HEAT EXCHANGER MARKET, BY TYPE
- 6.1 INTRODUCTION
- 6.2 GASKETED PLATE & FRAME HEAT EXCHANGER
- 6.2.1 COMPACT SIZE, HIGH HEAT TRANSFER EFFICIENCY, EASY MAINTENANCE, AND WIDE RANGE OF OPERATING CONDITIONS TO DRIVE MARKET
- 6.3 WELDED PLATE HEAT EXCHANGER (WPHE)
- 6.3.1 SUITABILITY FOR HANDLING AGGRESSIVE FLUIDS TO BOOST MARKET
- 6.4 BRAZED PLATE HEAT EXCHANGER (BPHE)
- 6.4.1 HIGH EFFICIENCY, COMPACT SIZE, RELIABILITY, AND EASE OF MAINTENANCE TO FUEL DEMAND
- 6.5 OTHER TYPES
7 PLATE & FRAME HEAT EXCHANGER MARKET, BY APPLICATION
- 7.1 INTRODUCTION
- 7.2 HVAC & REFRIGERATION
- 7.2.1 INCREASING DEMAND FOR READY-TO-SERVE AND PACKAGED FOODS AND BEVERAGES TO DRIVE MARKET
- 7.3 CHEMICALS
- 7.3.1 NEED FOR SAFE AND EFFICIENT HEAT TRANSFER IN CHEMICAL PROCESSES TO FUEL DEMAND
- 7.4 PETROCHEMICALS AND OIL & GAS
- 7.4.1 REQUIREMENT FOR EFFICIENT OIL COOLING, CONDENSATION, HEAT RECOVERY, AND GAS PROCESSING TO SUPPORT GROWTH
- 7.5 FOOD & BEVERAGES
- 7.5.1 COST-EFFECTIVE SOLUTIONS AS CONDENSERS, CHILLERS, AND EVAPORATORS TO PROPEL MARKET
- 7.6 POWER GENERATION
- 7.6.1 CONSISTENT COOLING OF LUBE OILS, BEARINGS, AND ROTOR BLADES IN DIESEL, STEAM, OR GAS TURBINES TO DRIVE MARKET
- 7.7 PULP & PAPER
- 7.7.1 ENHANCED PRODUCTION EFFICIENCY AND MAXIMIZED HEAT RECOVERY TO DRIVE MARKET
- 7.8 OTHER APPLICATIONS
8 PLATE & FRAME HEAT EXCHANGER MARKET, BY REGION
- 8.1 INTRODUCTION
- 8.2 ASIA PACIFIC
- 8.2.1 CHINA
- 8.2.1.1 Availability of low-cost labor and cheap raw materials to drive market
- 8.2.2 INDIA
- 8.2.2.1 Rapid urbanization and industrialization to propel market
- 8.2.3 JAPAN
- 8.2.3.1 Substantial demand from transportation and automotive sectors to boost market
- 8.2.4 SOUTH KOREA
- 8.2.4.1 Investments in energy sources to drive market
- 8.2.5 REST OF ASIA PACIFIC
- 8.3 NORTH AMERICA
- 8.3.1 US
- 8.3.1.1 Increasing demand for natural gas and petroleum to drive market
- 8.3.2 CANADA
- 8.3.2.1 Availability of vast natural resources to contribute to market growth
- 8.3.3 MEXICO
- 8.3.3.1 Population growth to drive demand for power generation
- 8.4 EUROPE
- 8.4.1 GERMANY
- 8.4.1.1 Transition toward renewable energy sources to support market growth
- 8.4.2 FRANCE
- 8.4.2.1 Chemical exports to boost market growth
- 8.4.3 UK
- 8.4.3.1 R&D expenditure in chemical sector to boost market
- 8.4.4 ITALY
- 8.4.4.1 Growing numbers of chemical manufacturers to boost market
- 8.4.5 SWEDEN
- 8.4.5.1 Oil & gas sector to fuel market growth
- 8.4.6 REST OF EUROPE
- 8.5 MIDDLE EAST & AFRICA
- 8.5.1 GCC COUNTRIES
- 8.5.1.1 Saudi Arabia
- 8.5.1.1.1 Government implementation of new power projects to drive market growth
- 8.5.1.2 UAE
- 8.5.1.2.1 Expansion of natural gas production facilities to boost growth
- 8.5.1.3 Rest of GCC countries
- 8.5.2 REST OF MIDDLE EAST & AFRICA
- 8.6 SOUTH AMERICA
- 8.6.1 BRAZIL
- 8.6.1.1 Growing population to fuel market growth
- 8.6.2 ARGENTINA
- 8.6.2.1 Focus on non-hydro renewable sources to boost demand
- 8.6.3 REST OF SOUTH AMERICA
9 COMPETITIVE LANDSCAPE
- 9.1 OVERVIEW
- 9.2 REVENUE ANALYSIS OF TOP PLAYERS, 2022-2024
- 9.3 MARKET SHARE ANALYSIS, 2023
- 9.4 MARKET EVALUATION MATRIX, 2024
- 9.5 COMPANY EVALUATION MATRIX, KEY PLAYERS, 2024
- 9.5.1 STARS
- 9.5.2 EMERGING LEADERS
- 9.5.3 PERVASIVE PLAYERS
- 9.5.4 PARTICIPANTS
- 9.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
- 9.5.5.1 Company footprint
- 9.5.5.2 Region footprint
- 9.5.5.3 Type footprint
- 9.5.5.4 Application footprint
- 9.6 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX
- 9.6.1 RESPONSIVE COMPANIES
- 9.6.2 STARTING BLOCKS
- 9.6.3 PROGRESSIVE COMPANIES
- 9.6.4 DYNAMIC COMPANIES
- 9.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
- 9.6.5.1 Detailed list of key startups/SMEs
- 9.6.5.2 Competitive benchmarking of key startups/SMEs
- 9.7 COMPETITIVE SCENARIO
- 9.7.1 PRODUCT LAUNCHES
- 9.7.2 DEALS
- 9.7.3 EXPANSIONS
- 9.7.4 OTHERS
10 COMPANY PROFILES
- 10.1 KEY PLAYERS
- 10.1.1 ALFA LAVAL
- 10.1.1.1 Business overview
- 10.1.1.2 Products offered
- 10.1.1.3 Recent developments
- 10.1.1.3.1 Product launches
- 10.1.1.3.2 Deals
- 10.1.1.3.3 Expansions
- 10.1.1.4 MnM view
- 10.1.1.4.1 Key strengths
- 10.1.1.4.2 Strategic choices
- 10.1.1.4.3 Weaknesses and competitive threats
- 10.1.2 DANFOSS
- 10.1.2.1 Business overview
- 10.1.2.2 Products offered
- 10.1.2.3 Recent developments
- 10.1.2.3.1 Product launches
- 10.1.2.3.2 Deals
- 10.1.2.4 MnM view
- 10.1.2.4.1 Key strengths
- 10.1.2.4.2 Strategic choices
- 10.1.2.4.3 Weaknesses and competitive threats
- 10.1.3 KELVION HOLDING GMBH
- 10.1.3.1 Business overview
- 10.1.3.2 Products offered
- 10.1.3.3 Recent developments
- 10.1.3.3.1 Product launches
- 10.1.3.3.2 Others
- 10.1.3.4 MnM view
- 10.1.3.4.1 Key strengths
- 10.1.3.4.2 Strategic choices
- 10.1.3.4.3 Weaknesses and competitive threats
- 10.1.4 SPX FLOW
- 10.1.4.1 Business overview
- 10.1.4.2 Products offered
- 10.1.4.3 Recent developments
- 10.1.4.3.1 Product launches
- 10.1.4.3.2 Expansions
- 10.1.4.4 MnM view
- 10.1.4.4.1 Key strengths
- 10.1.4.4.2 Strategic choices
- 10.1.4.4.3 Weaknesses and competitive threats
- 10.1.5 XYLEM
- 10.1.5.1 Business overview
- 10.1.5.2 Products offered
- 10.1.5.3 Recent developments
- 10.1.5.4 MnM view
- 10.1.5.4.1 Key strengths
- 10.1.5.4.2 Strategic choices
- 10.1.5.4.3 Weaknesses and competitive threats
- 10.1.6 API HEAT TRANSFER
- 10.1.6.1 Business overview
- 10.1.6.2 Products offered
- 10.1.6.3 MnM view
- 10.1.7 BOYD
- 10.1.7.1 Business overview
- 10.1.7.2 Products offered
- 10.1.7.3 Recent developments
- 10.1.7.4 Expansions
- 10.1.7.5 MnM view
- 10.1.8 H. GUNTNER (UK) LIMITED
- 10.1.8.1 Business overview
- 10.1.8.2 Products offered
- 10.1.8.3 Recent developments
- 10.1.8.4 MnM view
- 10.1.9 JOHNSON CONTROLS
- 10.1.9.1 Business overview
- 10.1.9.2 Products offered
- 10.1.9.3 Recent developments
- 10.1.9.4 MnM view
- 10.1.10 WABTEC CORPORATION
- 10.1.10.1 Business overview
- 10.1.10.2 Products offered
- 10.1.10.3 Recent developments
- 10.1.10.3.1 Product launches
- 10.1.10.3.2 Deals
- 10.1.10.4 MnM view
- 10.2 OTHER PLAYERS
- 10.2.1 BARRIQUAND TECHNOLOGIES THERMIQUES
- 10.2.2 CHART INDUSTRIES
- 10.2.3 FUNKE HEAT EXCHANGER APPARATEBAU
- 10.2.4 HISAKA WORKS, LTD.
- 10.2.5 RADIANT HEAT EXCHANGER PVT. LTD.
- 10.2.6 SWEP INTERNATIONAL AB
- 10.2.7 VAHTERUS OY
- 10.2.8 KAORI
- 10.2.9 DIVERSIFIED HEAT TRANSFER
- 10.2.10 HRS HEAT EXCHANGERS
- 10.2.11 ONDA
- 10.2.12 SECESPOL
- 10.2.13 HYDAC
- 10.2.14 BAODE
- 10.2.15 THERMOFIN
11 APPENDIX
- 11.1 DISCUSSION GUIDE
- 11.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 11.3 CUSTOMIZATION OPTIONS
- 11.4 RELATED REPORTS
- 11.5 AUTHOR DETAILS