Brazed Plate Heat Exchangers Market Size, Share & Trends Analysis Report By Product (Single-circuit, Multi-circuit), By Application (HVAC-R, Food & Beverage), By Region (Europe, APAC), And Segment Forecasts, 2023 - 2030

Brazed Plate Heat Exchangers Market Size, Share & Trends Analysis Report By Product (Single-circuit, Multi-circuit), By Application (HVAC-R, Food & Beverage), By Region (Europe, APAC), And Segment Forecasts, 2023 - 2030

Brazed Plate Heat Exchangers Market Growth & Trends

The global brazed plate heat exchangers market size is expected to reach USD 1.62 billion by 2030, registering a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising product demand, particularly on account of cost-effectiveness, lower carbon footprints, and higher energy efficiency is anticipated to drive the industry. According to Centrum Institutional Research, investments in the chemical industry have increased 2.5 times in the last decade, rising to 6,100 crores in FY22. Brazed plate heat exchangers are used in the chemical manufacturing process to cool, heat, and mix chemicals.

The chemical industry’s rapid expansion is projected to be a major driver for market growth. In industrial power generation engines, lubricating oil is required to optimize performance, protect moving parts, and provide optimal operating conditions for internal components. A brazed plate heat exchanger is used for activation units and engines in power generation industrial facilities as it has oil-cooling properties. Rapid industrialization in growing economies and rising investments in commercial, industrial, and residential projects have contributed to a rise in industry growth. Furthermore, increased product demand in the food, oil & gas, and other industries due to lower operational costs will also support market growth.

Brazed plate heat exchangers are utilized in the oil & gas industry for various applications, such as selective gas component extraction, natural gas evaporation, and industrial gas consumption. Brazed plate heat exchangers are now chosen over traditional shell & tube heat exchangers due to their thermal efficiency, compactness, and quicker lead time. Providers of brazed plate heat exchangers are adopting several strategies, including acquisitions, mergers, new product developments, and geographical expansions to enhance their industry presence. For instance, in October 2021, Alfa Laval launched the AC74 to improve energy efficiency and enable the use of refrigerants with a low global warming potential.

Brazed Plate Heat Exchangers Market Report Highlights

• The multi-circuit segment is estimated to expand at a steady CAGR over the forecast period owing to advantages, such as a low maintenance cost, smaller footprint, and energy efficiency
• The HVAC-R segment accounted for the maximum share in 2022. Due to their lower footprint, brazed plate heat exchangers have become increasingly popular among HVAC equipment manufacturers
• The Europe region accounted for the maximum revenue share in 2022. Rising public and private infrastructure investments are expected to drive brazed plate heat exchanger demand in the HVAC & refrigeration industry
• Asia Pacific is estimated to advance at the fastest CAGR over the forecast period owing to increased industrial construction and infrastructure activities in emerging nations, such as India, China, Vietnam, and Thailand
• In February 2022, Alfa Laval launched AC540 brazed plate heat exchangers, such as ACK540, ACH540, CBP540 and ACP540, which were manufactured in San Bonifacio, Italy