The global brazed plate heat exchangers market size is anticipated to reach USD 1.4 billion by the end of 2025. It is anticipated to register growth with a CAGR of 7.5% during the forecasted period, 2019 to 2025.This growth can be attributed to the rapid urbanization and increasing infrastructure development which in turn is fueling the demand for refrigeration and air conditioning systems across the globe.
In addition, several other benefits like smaller footprints, low maintenance cost, and free from leakage are expected to fuel up the demand for these heat exchangers. Moreover, usage of vacuum brazing processes in manufacturing of such products for providing better strength to the joints also adds up to the surging demand among various industrial applications thereby fueling is demand.
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The multi circuit held the largest share of around 65.3% across the global market due to its several features like energy efficient, smaller footprints and low cost of maintenance. The single-circuit product segment created revenue of USD 298.3 Million owing to its surging demand across water heating and heating pump applications.
The HVAC application segment is anticipated to generate USD 337.0 Million by the end of 2025 owing to rising demand for electric appliances like air conditioners and refrigerators across te developed and developing regions across the globe. On the other hand, the industrial application segment is anticipated to held 25.5% share across the global market due to rising usage of such heat exchangers across several petrochemicals, chemical, power generation, pharmaceutical industries.
Europe is expected to hold a share of 34.1% across the global market owing to surging concept of industrialization across several countries like Italy, France, and Germany. Moreover, increasing infrastructure activities across Asia Pacific and North America are projected to fuel up the demand for such heat exchangers in the upcoming years.
The brazed plate heat exchanger market players are investing more in R&Ds to gain competitive advantage over other players. Moreover, they have started implementing marketing strategies to widen their product portfolio and to penetrate deeper in the emerging markets.
Further key findings from the report suggest:
• The market across the U.S. is anticipated to grow at a CAGR of 8.5% during the forecasted period, 2019 to 2025.
• In 2018, the market across Germany generated revenue of USD 113.3 Million and it is anticipated to reach USD 188.3 Million till 2025.
• The multi circuit held the largest share of around 65.3% across the global brazed plate heat exchangers market in 2018.
• The HVAC application segment is projected to generate revenue of USD 337.0 Million across the global market by 2025.
COVID-19 Impact Insights
The global brazed plate heat exchangers market has been hindered due to the outbreak of COVID-19. Lockdown imposition and restrictions over domestic and international travel have reduced the availability of skilled labourers for the production of HVAC equipment. Moreover, delays or suspensions across construction activities have reduced the demand for heat exchangers. Also, the closure of several manufacturing facilities across the globe due to economic and political instability have stagnated the market growth. But, initiatives being undertaken by the key players for developing technologically advanced products are expected to drive the market growth to some extent over the post-pandemic period.
Global Brazed Plate Heat Exchangers Market: Key Players
Danfoss A/S; Alfa Laval AB; SWEP International AB; and SPX flow, Inc.
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