GASKETED PLATE HEAT EXCHANGER MARKET BY TYPE (INDUSTRIAL GPHE, WIDE GAP GPHE, SEMI WELDED GPHE), BY MATERIAL (STAINLESS STEEL, TITANIUM, TUNGSTEN), BY END USER (FOOD AND BEVERAGE, OIL AND GAS, HVAC AND REFRIGERATION, CHEMICAL, OTHERS): GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST-
The global gasketed plate heat exchanger market revenue was around US$ 3.5 billion in 2021 and is estimated to reach US$ 5.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2022 to 2031.
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A gasketed plate heat exchanger is a kind of heat exchanger that is transferred heat energy from one fluid to another. In a gasketed plate heat exchanger, elastomeric gaskets are used on the plates to seal the channels and route the fluids into different channels. Assembled between a pressure plate and a frame plate, the plate pack is compressed by tightening bolts inserted between these plates. With its close temperature approach and good thermal efficiency. It takes up less room and is simple to repair and maintain.
Factors Influencing Market Growth
Rapid technological development across all industries, particularly in the oil, chemical, gas, and food & beverage sectors, has increased demand for gasketed plate heat exchangers, which may be the main driver propelling the market’s expansion.
A rise in the number of water treatment and purification facilities, which, in turn lead to more opportunities for the global market.
Leaks in gasketed plate heat exchangers are uncommon, but more likely because of the gaskets, which have a higher pressure drop than shell and tube. This could hamper the market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the global gasketed plate heat exchanger market. Due to the high peak of the COVID-19 scenario, the production of gasketed plate heat exchanger systems were halted for a certain amount of time, which had a significant negative influence on sales. However, gasketed plate heat exchanger was produced well after production resumed. Additionally, the market will experience significant growth over the next few years as gasketed plate heat exchanger usage rises in the global food, oil & gas, and medical sectors.
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Regional Insights
The Asia-Pacific area is expected to contribute the highest revenue in the gasketed heat plate market. This is due to developing nations concentrating primarily on economies based on gas, which is anticipated to generate plenty of chances for the market for gasketed plate heat exchangers.
Leading Competitors
The leading competitors in the global gasketed plate heat exchanger market are:
Alfa Laval
Kelvion Holding GmbH
SWEP International AB
Danfoss
Hisaka Works Ltd
Enoveneta
Tranter
Vitherm
API Heat Transfer
Xylem
Others
Segmentation Analysis
The global gasketed plate heat exchanger market segmentation focuses on Type, Material, End User, and Region.
Segmentation based on Type
Industrial GPHE
Wide Gap GPHE
Semi Welded GPHE
Segmentation based on Material
Stainless Steel
Titanium
Tungsten
Segmentation based on End User
Others
Food and Beverage
Oil and Gas
HVAC and Refrigeration
Chemical
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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