The global brazed plate heat exchangers market size reached US$ 975.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1404.5 Million by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028. The rising demand for heating, ventilation, air conditioning, and refrigeration (HVAC-R) systems, the growing adoption of renewable energy, and the introduction of asymmetric plate design technology represent some of the key factors driving the market.
|Market Size in 2022
||US$ 975.2 Million
|Market Forecast in 2028
||US$ 1404.5 Million
|Market Growth Rate (2023-2028)
Brazed plate heat exchangers (BPHEs) are devices used for highly efficient heat transfer solutions. They are comprised of multiple thin plates, brazing materials, inlet and outlet connections, gaskets, and support frames. BPHEs are manufactured using durable and corrosion-resistant materials, such as stainless steel, titanium, copper, aluminum, brass, and nickel-based alloys. They are widely used in refrigeration, food processing, drug manufacturing, automobiles, heat recovery, seawater cooling, solar energy, industrial processes, and heating, ventilation, and air conditioning (HVAC) systems. As compared to traditional heat exchangers, BPHEs are compact, lightweight, cost-effective, easy to install, less prone to leakages, and offer high thermal efficiency. They are also eco-friendly, energy efficient, require low maintenance, and provide long service life. As a result, BPHEs find extensive applications across the food and beverage (F&B), pharmaceutical, power generation, oil and gas, automotive, and chemical industries.
Brazed Plate Heat Exchangers Market Trends:
The rising demand for heating, ventilation, air conditioning, and refrigeration (HVAC-R) system is one of the primary factors driving the market growth. BPHEs are widely used in HVAC-R systems as condensers, evaporators, and chillers and to recover lost heat from the exhaust air streams, which, in turn, reduces energy consumption and saves costs. In addition to this, the increasing utilization of HVAC systems in residential, industrial, and commercial buildings is acting as another growth-inducing factor. Furthermore, the growing adoption of renewable energy, such as solar, wind, biomass, and geothermal energy, owing to the rising environmental concerns, is facilitating the product demand to transfer heat from collector fluid, combustion chambers, and ground sources for energy production. Additionally, the introduction of asymmetric plate design technology, which allows more efficient heat transfer, minimizes costs, improves efficiency, increases performance, and reduces fouling, is positively influencing the market growth. Apart from this, the recent development of microchannel technology, which aids in lowering refrigerant charges, reducing maintenance, and increasing product lifespan, is providing a thrust to the market growth. Moreover, the widespread product utilization in the automotive cooling systems to maintain the temperature of batteries, electronics, transmission, and the engine is favoring the market growth. Other factors, including rapid industrialization activities, increasing investment in the development of advanced products, and the growing demand for energy-efficient solutions in industrial processes, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global brazed plate heat exchangers market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on product and end user.
- Single Circuit
- Multi Circuit
The report has provided a detailed breakup and analysis of the brazed plate heat exchangers market based on the product. This includes single circuit and multi circuit. According to the report, multi circuit represented the largest segment.
End User Insights:
- Chemical and Petrochemical
- Food and Beverage
- Power Generation
- Heavy Industries
A detailed breakup and analysis of the brazed plate heat exchangers market based on the end user has also been provided in the report. This includes HVAC-R, chemical and petrochemical, food and beverage, power generation, heavy industries, and others. According to the report, HVAC-R accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe was the largest market for brazed plate heat exchangers. Some of the factors driving the Europe brazed plate heat exchangers market included rapid industrialization activities, the implementation of various government initiatives, and significant technological advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global brazed plate heat exchangers market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Alfa Laval AB, API Heat Transfer Inc., Boyd Corporation, Chart Industries Inc., Danfoss A/S, Hisaka Works Ltd., HRS Heat Exchangers Limited (Exchanger Industries Limited), Kaori Heat Treatment Co. Ltd., Kelvion Holding GmbH, Paul Mueller Company, Swep International A.B. (Dover Corporation), Xylem Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Brazed Plate Heat Exchangers Market Report Scope:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Single Circuit, Multi Circuit
|End Users Covered
||HVAC-R, Chemical and Petrochemical, Food and Beverage, Power Generation, Heavy Industries, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alfa Laval AB, API Heat Transfer Inc., Boyd Corporation, Chart Industries Inc., Danfoss A/S, Hisaka Works Ltd., HRS Heat Exchangers Limited (Exchanger Industries Limited), Kaori Heat Treatment Co. Ltd., Kelvion Holding GmbH, Paul Mueller Company, Swep International A.B. (Dover Corporation), Xylem Inc., etc.
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Key Questions Answered in This Report:
- How has the global brazed plate heat exchangers market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global brazed plate heat exchangers market?
- What is the impact of each driver, restraint, and opportunity on the global brazed plate heat exchangers market?
- What are the key regional markets?
- Which countries represent the most attractive brazed plate heat exchangers market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the brazed plate heat exchangers market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the brazed plate heat exchangers market?
- What is the competitive structure of the global brazed plate heat exchangers market?
- Who are the key players/companies in the global brazed plate heat exchangers market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the brazed plate heat exchangers market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global brazed plate heat exchangers market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the brazed plate heat exchangers industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.