Kaori chairman Hans Han. Credit: DIGITIMES
Kaori Heat Treatment expects its sales of plate heat exchangers to increase 30% on year in 2021 and is optimistic about further room for growth next year, according to company chairman Hans Han.
Kaori is currently the fifth-largest maker of plate heat exchangers in the world and the largest in Taiwan. The company has also entered into the fuel cell business in recent years and reportedly is a supplier to Bloom Energy.
The company is also spending effort on developing hydrogen energy storage technologies and immersive liquid cooling solutions for servers.
The plate heat exchanger market had a scale of around US$710 million in 2020 and is expected to rise to US$790 million in 2021. The top-2 suppliers worldwide each accounts for around 30% market share at the moment, while Kaori's market share is expected to rise to 5% in 2021, up from 2020's 4.8%, driven primarily by the COVID-19 pandemic.
Kaori saw significantly increased orders for plate heat exchangers from Europe and Taiwan as Europe is now pushing keenly on saving power and reducing carbon emissions, while Taiwan has growing heat dissipation demand from its semiconductor and machine tools industries
Burning natural gas for heat during winter is now considered not eco-friendly enough by Europeans. The acquisition of natural gas is heavily influenced by geopolitics. Heat pump systems equipped with plate heat exchangers are starting to replace traditional natural gas boilers in European households especially new houses.
With over a million houses in Europe expected to be installed with a heat pump system, the company's overall sales are expected to be driven by the plate heat exchanger business in the upcoming years.
Kaori will also see rising plate heat exchanger orders from freezers as demand for the cold chain will continue to rise.
Since Kaori's factories in China and Taiwan are not affected by the pandemic much, many vendors have turned to seek supply from Kaori or make the company their alternative supplier. Thanks to this, Kaori's revenue growth is expected to perform above the average.
Electric vehicles (EV) are another key area for Kaori's plate heat exchanger business and the company is now shipping products to US- and China-based EV makers for 3,000-4,000 EVs a month at the moment, Han added.
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December 21, 2021 at 02:45PM
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Kaori upbeat about sales of plate heat exchangers - Digitimes
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