The global gasketed plate heat exchanger market revenue was around US$ 3.3 billion in 2023 and is estimated to reach US$ 5.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2024 to 2032.
A gasketed plate heat exchanger is a kind of heat exchanger that is utilized to transmit heat energy from one fluid to another. The fluids in a gasketed plate heat exchanger are directed into alternate channels using elastomeric gaskets installed on the plates. The plate pack is put together by compressing bolts that are positioned between the frame and pressure plates.
Market Driving Factors
Gasketed plate heat exchangers are highly utilized in oil & gas, pharmaceutical, and food & beverages industries. Additionally, an increase in demand for gasoline, medicines, and other food products worldwide may act as the main driving element for the market growth.
Rapid technological advances in all industries mainly in oil & gas, chemical, and food & beverage surge the demand for gasketed plate heat exchangers, which may act as the primary boosting factor for the market expansion. Additionally, the surge in the addiction to filtered water has led to a rise in purification plants and water treatment, which in turn is estimated to raise demand for gasketed plate heat exchangers and create lucrative opportunities for the market.
Higher pressure drops than tube and shell, which may act as the hampering factor for the market growth.
Regional Analysis
In 2023, Europe dominated the market in terms of the growth rate. This can be attributed to various elements such as the region’s dedication to environmental sustainability and strict energy efficiency laws that encouraged industries to adopt cutting-edge heat transfer solutions. Furthermore, gasketed plate heat exchanger known for their high thermal versatility and efficiency, are key in meeting these needs across various sectors, including chemical processing, manufacturing, and power generation.
Asia-Pacific dominates the market in terms of the highest revenue. This is owing to the developing nations majorly concentrating on a gas-based economy, which in turn is anticipated to create ample possibilities for the market in the region.
Segmentation Insights
Type Insight
Industrial GPHE segment is the fastest-growing during the projection period. This is majorly due to the increasing HVAC, engine cooling, refrigeration, food and dairy, oil production, chemical processing, and power generation.
Material Insight
The stainless-steel segment is estimated to dominate the market in terms of shares. This is owing to increasing demand for food products such as vegetable fats/ oil, chocolate, and syrup led to a surge in the demand for stainless-steel gasketed plate heat exchangers.
End User Insight
The food and beverage segment are predicted to dominate the market in terms of revenue. This is because the introduction of Italian food worldwide led to a surge in the demand for creams, mayonnaise, and other schezwan sauces.
The chemical segment dominates the market in terms of the largest revenue. Gasketed plate heat exchangers are broadly employed in the chemical industry for efficient heat transfer in different processes. Their high thermal efficiency and compact design make them especially appropriate for applications such as chemical processing, where accurate temperature control is critical. These heat exchangers promote the exchange of heat between various fluids, allowing for energy conservation and optimal reaction conditions. As a result, their corrosion-resistant materials provide compatibility with a range of aggressive chemicals typically encountered in industrial procedures.
Prominent Companies
Segmentation Outline
The global gasketed plate heat exchanger market segmentation focuses on the Type, Material, End User, and Region.
By Type
By Material
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL GASKETED PLATE HEAT EXCHANGER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: GASKETED PLATE HEAT EXCHANGER MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL GASKETED PLATE HEAT EXCHANGER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL GASKETED PLATE HEAT EXCHANGER MARKET, BY TYPE
5.1 OVERVIEW
5.2 INDUSTRIAL GPHE
5.3 WIDE GAP GPHE
5.4 SEMI WELDED GPHE
6 GLOBAL GASKETED PLATE HEAT EXCHANGER MARKET, BY MATERIAL
6.1 OVERVIEW
6.2 STAINLESS STEEL
6.3 TITANIUM
6.4 TUNGSTEN
7 GLOBAL GASKETED PLATE HEAT EXCHANGER MARKET, BY END USER
7.1 OVERVIEW
7.2 FOOD AND BEVERAGE
7.3 OIL AND GAS
7.4 HVAC AND REFRIGERATION
7.5 CHEMICAL
7.6 OTHERS
8 GLOBAL GASKETED PLATE HEAT EXCHANGER MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL GASKETED PLATE HEAT EXCHANGER MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 XYLEM
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 SWEP INTERNATIONAL AB
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 HISAKA WORKS LTD.
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 KELVION HOLDING GMBH
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 ENOVENETA
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 DANFOSS
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 ALFA LAVAL
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 VITHERM
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 API HEAT TRANSFER
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 TRANTER
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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