Brazed Plate Heat Exchangers Market Analysis Report By Product, By Application, By Region, Competitive Landscape And Segment Forecasts From 2019 To 2025

Industry Insights

The global brazed plate heat exchangers market size was accounted for USD 859.1 million in 2018. It is expected to witness growth with a CAGR of 7.5% over the forecasted years, 2019 to 2025. This growth can be associated with the rising usage of such products across several floor oil coolers, heating appliances, refrigerant evaporators, condensers, and economizers.

These heat exchangers have smaller footprints and are being used for heat transfer from one fluid to another further avoiding their mixing. The industry uses these coolers largely for cooling function rather than the function of heating. Moreover, other features like the low cost of maintenance required coupled with the improved efficiency are expected to drive the market growth in the upcoming years.

Such exchangers are comprised of joint plates of metal for heat transfer. These plates use copper for their vacuum brazing. Such a process of vacuum brazing is generally preferred due to its feature of providing higher strength at the joints. Thus, the market for brazed plate heat exchangers is projected to expand during the forecasted years, 2019 to 2025.

U.S. can be considered as the major market across the global market owing to the rising need for urbanization coupled with rapid advances being made in terms of technology throughout the HVAC industry. Moreover, other features like advancements being made in the VRF (variable refrigerant flow) technology are anticipated to drive market growth in the upcoming years.

Product Insights

The product segment of multi-circuit held the largest share of around 65.3% across the global market and is expected to continue its dominance over the forecasted period, 2019 to 2025. This growth can be attributed to several features like energy efficiency, smaller footprints, and low cost of maintenance. Moreover, the rising usage of such multi-circuit brazed plate heat exchangers across all applications of HVAC is anticipated to boost the brazed plate heat exchanger market growth in the upcoming years.

In 2018, the product segment of single-circuit heat exchangers generated revenue of USD 298.3 Million and is expected to register moderate growth in the upcoming years. This growth can be attributed to surging demand across water heating and heating pump applications.

Application Insights

The application segment of HVAC is anticipated to generate revenue of USD 337.0 Million by the end of 2025. This growth can be attributed to the rising demand for electric appliances like air conditioners and refrigerators among the millennial population. In addition, rapid technological advances being made coupled with rising demand for smaller products is also projected to surge the demand for such heat exchangers in the upcoming years.

The industrial segment held a share of around 25.5% across the global market and it is projected to witness growth with a CAGR of 6.3% during the forecasted years, 2019 to 2025. This growth can be attributed to the rising usage of such heat exchangers across several petrochemicals, chemical, power generation, pharmaceuticals, and oil & gas industries owing to its requirement of limited space for installation.

Regional Insights

Europe is anticipated to hold the largest share of around 34.1% across the global market by 2025. Rising industrialization across several countries like Italy, France, and Germany is expected to drive this market growth in the upcoming years. In addition, surging infrastructure developments being implemented by governmental organizations are projected to boost market growth in the upcoming years. Moreover, the surging number of commercial offices, industries, and buildings is anticipated to boost the need for HVAC systems thereby fueling the demand for such heat exchangers.

Furthermore, rising infrastructural activities across developing countries of the Asia Pacific and North America are anticipated to boost the growth of the market from 2019 to 2025. An increasing number of infrastructural activities across the U.S. has created the demand for HVAC products. Moreover, the NIIF (National Investment & Infrastructure Fund) is being provided by the Indian government for boosting the infrastructural activities across the country.

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 laborers 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 has 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.

Brazed Plate Heat Exchanger Market Share Insights

The market of such heat exchangers is competitive in nature while the key players in the market are Danfoss A/S; Alfa Laval AB; SWEP International AB; and SPX flow, Inc. They are continuously investing in research and development to gain a competitive advantage over other players.

In addition, several marketing strategies are being implemented by these players to expand their business, widen their product reach, and product portfolio. They are also launching several new products to cater to the regional and global market. Furthermore, their R&Ds is engaged in developing customized products as per the desired specifications and standards.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Million Insights has segmented the global brazed plate heat exchangers market report based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Single Circuit
    • Multi Circuit

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • HVAC
    • Industrial
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • France
        • Italy
    • the Asia Pacific
        • China
        • India
        • Japan
    • Central & South America
        • Brazil
    • Middle East and Africa
        • Saudi Arabia
        • UAE