Market World Plate and Frame Heat Exchanger Market | Seite 2

In 2014, frame heat exchanger and gasketed plate were the leading product segments capturing approximately
50.0% of the market revenue. Widespread application in power plants owing to compact size and lower
maintenance has resulted in this high market penetration. It is widely used for cooling, heating, evaporation,
condensation and heat recovery applications. The market is expected to have a positive impact on account of
growing gasketed heat exchanger demand, especially in petrochemical and power generation and automotive
sector.
Increasing use in floor heating, economizers, refrigerant evaporators, oil coolers, condensers and super-coolers
is expected to serve the brazed plate heat exchanger market significantly however, the market can face a few
challenges with respect to competition from new market players thereby impacting the growth of plate heat
exchanger industry from 2016 to 2024. Further, the conventional technology is being replaced with highly
efficient substitutes which are expected to pose a major threat to market growth. On the other hand, welded
plate heat exchanger is anticipated to experience high growth owing to its rising use in numerous industries
such as petrochemical, automobile, paper manufacturing and pharmaceuticals on account of improved features
in performance.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/plate-and-frame-heat-exchanger-market
In 2014, HVAC contributed to over 20.0% of the overall market and is anticipated to witness high growth in the
next eight years. Asia Pacific is expected to fuel demand in the sector on account of growing construction
projects in Asia Pacific over the review period. Rising need for efficient thermal management in commercial and
residential establishments coupled with increasing consumer spending is anticipated to propel HVAC demand
from 2016 to 2024. HVAC systems form a key segment under heat exchangers. Rising awareness concerning
energy management and conservation and cutback in energy bills is expected to propel demand for the product
in HVAC sector.
Chemical industry constituted for nearly 20% of plate and frame systems market revenue in 2014. Key products
in chemical industry include inorganic chemicals, petrochemicals and fertilizers. Petrochemical derivatives such
as ethylene, base chemicals and polymers and methanol involve crucial conditions that involve well-organized
and efficient thermal management systems in the manufacturing units. Production capacity expansions and
mergers and acquisitions of chemical facilities in Asia Pacific and Europe are anticipated to fuel chemical market
from 2016 to 2024.
Europe emerged as the largest regional segment and is thereby expected to grow at an estimated CAGR
exceeding 6.3% over the forecast period. However, high growth regions such as Asia Pacific and CSA regions
may pose a threat to the European market and capture a part of the overall market share over the forecast