Gasketed Plate Heat Exchanger Market Size, Share Analysis - 2031

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The global gasketed plate heat exchanger market size was valued at $3.1 billion in 2021, and is projected to reach $5.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.

A gasketed plate heat exchanger is a type of heat exchanger that is used to transfer heat energy from one fluid to another. In a gasketed plate heat exchanger, the plates are fitted with elastomeric gaskets, which seal the channels and direct the fluids into alternate channels. The plate pack is assembled between a frame plate and a pressure plate, and compressed by tightening bolts fitted between these plates. It has high thermal efficiency and close temperature approach. It is space saving and easy to service & maintain. In addition, it has maximum uptime - less fouling, stress, wear, and corrosion. Moreover, it is flexible - easy to adapt to changed duty requirements. Furthermore, gasketed plate heat exchanger have variety of application in different areas such as chemical process cooling, media containing fibers & solids (sugar and paper industry), highly viscous media (dairy and other food products), healthy drinking water treatment & purification, secure cooling for power plants with river or seawater, demanding climate control solutions (data centers), and condensation or evaporation (refrigeration, sugar or chemical industries).

Rapid technological advancement in all industries especially in chemical, oil & gas, and food & beverage have increased the demand for gasketed plate heat exchanger, which may act as the major driving factor for the gasketed plate heat exchanger market growth. In addition, rise in addiction of filter water has led to increase in the water treatment and purification plants, which in turn is expected to increase demand for gasketed plate heat exchanger and create ample of opportunities for the market. Moreover, leakages in gasketed plate heat exchanger are rare however more likely due to the gaskets, higher pressure drop than shell and tube, which may act as the major restraining factor for the market.

The gasketed plate heat exchanger market forecast is segmented on the basis of type, material, end-use, and region. Depending on type, the market is categorized into industrial GPHE, semi welded GPHE, and wide gap GPHE. On the basis of Material, it is divided into stainless steel, titanium, and tungsten. On the basis of end-use, it is classified into chemical, oil & gas, HVAC & refrigeration, food & beverage, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global gasketed plate heat exchanger market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Alfa Laval, API Heat Transfer, Danfoss, Diversified Heat Transfer, Inc., Hisaka Works, Ltd., HYDAC International GmbH, Kelvion Holding GmbH, Kaori Heat Treatment Co., Ltd., Motion Industries, Inc., Onda S.p.A, Southwest Thermal Technology Inc., SWEP International AB, Tranter, TITAN Metal Fabricators, and Xylem.

Industrial GPHE is projected as the most lucrative segment

Based on type, industrial gphe is the fastest growing segment during the forecast period. This is attributed to rising HVAC, Refrigeration, Engine cooling, Dairy and food, Chemical processing, Oil production and Power generation may create ample of opportunities for the market.

Stainless Steel is the most remunerative segment

Based on material, stainless steel holds highest market share during the forecast period. This is attributed to rising demand for food products such as chocolate, vegetable fats/ oil, syrup led to increase the demand stainless-steel gasketed plate heat exchanger, which may create wide opportunities for the market.

Food and Beverage is the fastest growing and lucrative segment

Based on end user, food and beverage is the largest segment during the forecast period.Owing to the introduction of Italian food across the globe led to increase the demand for mayonnaise, creams and other schezwan sauces and others led to create ample opportunities for the market.

Asia-Pacific is the dominating segment and maintain its dominance during the forecast period

Based on region, asia-pacific region is the highest revenue contributor during the forecast period. This is attributed to developing countries majorly focusing on gas-based economy, which in turn is expected to create ample opportunities for the gasketed plate heat exchanger market.

The COVID-19 pandemic has curtailed the movement of people, goods, and materials worldwide, including in most of the regions in which production of gasketed plate heat exchanger system is on large scale. As part of intensifying efforts to contain the spread of COVID-19, several local, state, and national governments have imposed various restrictions on the conduct of business and travel, such as stay-at-home orders and quarantines that have led to a significant number of business slowdowns and closures. The COVID-19 pandemic has resulted in, and is expected to continue to result in a substantial curtailment of business activities (including the decrease in demand for a broad variety of goods and materials), weakened economic conditions, supply chain disruptions, significant economic uncertainty and volatility in the financial and commodity markets, including the reduction in global demand for oil and gas combined with excessive supply due to disagreements between OPEC, both in the U.S. and abroad. However, due to the disruption in such all-mentioned activities led to decrease the demand for gasketed plate heat exchanger system and negatively impacted the whole market. Moreover, post lockdown, chemical, petrochemical and food & beverage industries started their operation with a higher pace to recover their loss, and after a year there has been high spike in these industries, however, after lockdown the high pace of these industries created ample of opportunities for gasketed plate heat exchanger market.

SWEP International AB, Hisaka Works Ltd., Alfa Laval, DANFOSS, Xylem, ENOVENETA, Kelvion Holding GmbH, Tranter, API Heat Transfer, Vitherm

Analyst Review

The global gasketed plate heat exchanger market has registered a dynamic growth over the past few years, owing to drastic growth in oil & gas, petrochemical, pharmaceutical, and food & beverages industries. In addition, huge investment plans of government of every nation with respect to waste water infrastructure and water management development has boosted the gasketed plate heat exchanger system market across the globe. Moreover, gasketed plate heat exchanger system is economical, requires low-capital investment, easy to install, has low maintenance costs, and compact modular design. However, mentioned advantages of gasketed plate heat exchanger system may act as the driving factor for the market growth. Furthermore, gasketed plate heat exchanger system can operate in the long term and has high performance with higher design pressure and temperatures. However, rise in demand for food & beverage boosts the demand for gasketed plate heat exchanger system. The industrialization in developing nations such as India, China, & Japan has led to increase in the usage of gasketed plate heat exchanger in various industries, which creates wide opportunities for the market.

Food and beverage is the leading application of Gasketed Plate Heat Exchanger Market

Rapid technological advancement in all industries especially in chemical, oil & gas, and food & beverage have increased the demand for gasketed plate heat exchanger, which may act as the major driving factor for the market

Asia-Pacific is the largest regional market for Gasketed Plate Heat Exchanger

Alfa Laval, Danfoss,Kelvion Holding GmbH,Tranter, and HYDAC International GmbH are the top companies to hold the market share in Gasketed Plate Heat Exchanger?

The global gasketed plate heat exchanger market was valued at $3.1 billion in 2021, and is projected to reach $5.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.

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