Plate and Frame Heat Exchanger Market

Industry Overview

Plate and frame heat exchanger are very effective tools for transferring thermal energy between two or more fluids. It consists of a frame constructed of several thin, corrugated metal plates, usually stainless steel. These plates build a system of confined channels through which the passage of hot and cold fluids alternate. In this configuration, the surface area for heat exchange is maximized.

Global plate and frame heat exchanger market was worth USD 5.28 billion  in 2022 and is expected reach USD 8.15 billion by 2030 with a CAGR of 6.03% during the forecast period, i.e., 2023-2030. The global plate and frame heat exchangers market is witnessing growth due to their application in the food and beverage industry for hygiene processing, in chemical processing for effective temperature control, and in HVAC systems for energy-efficient building climate control. Plate and frame heat exchangers offer great thermal efficiency, have ability to work with delicate materials, and their small size make them ideal for a variety of uses, including optimization of chemical processes, guarantee of food safety, and increase building energy efficiency.

Furthermore, high thermal efficiency, compact size, and adaptability to a broad variety of flow rates, temperatures, and pressures are some of the main characteristics of plate and frame heat exchangers, which makes them suitable for a range of industries for diverse applications.

Geographically, the market is expanding rapidly in North America, Europe, and the Asia Pacific, as a result of large chemicals and petrochemicals industry. However, the market confronts constraints such as fouling issues, corrosion and need for regular maintenance. Overall, the plate and frame heat exchanger market offer potential prospects for market participants to develop and fulfill the growing needs of heat exchangers in chemicals, oil & gas, and food & beverages industry.

Market Segmentation

Insight by Product Type

Based on the product type, the global plate and frame heat exchanger market is segmented into gasketted, welded, and brazed. Gasketed type plate and frame heat exchangers dominated the  global plate and frame heat exchanger market in 2022 with ~40% share owing to greater flexibility and ease of maintenance.

Moreover, for industries with stringent hygiene requirements, such as food processing or pharmaceutical, gaskets allow the disassembly and reassembly of plates, making it easier to clean or replace individual components. Additionally, gasketed designs can be quickly enlarged or modified to fit changing process requirements, making them more versatile to handle various fluids and temperatures.

Insight by End-User

Based on the end-use industry, the global plate and frame heat exchanger market is segmented into Oil and gas, chemicals, HVAC and refrigeration, food and beverages, power generation, pulp and paper, others. Chemicals industry held the largest share of ~24% in the global plate and frame heat exchanger market in 2022 owing to precise temperature control capabilities of these heat exchangers. Furthermore, adaptable designs of plate and frame heat exchangers allows for easy modification to handle different fluids and temperatures, making them invaluable tools for a wide range of chemical processes.

Global Plate and Frame Heat Exchanger Market Report Coverage

Industry Dynamics

Growth Drivers

High adaptability and versatility of plate and frame heat exchangers

Plate and frame heat exchangers stand out for their outstanding thermal efficiency due to the large surface area available for heat transfer. In industries such as HVAC, food and beverages, and chemical processing, where compactness and space optimization are crucial, this efficiency is a game-changer for companies. These heat exchangers are especially useful in situations with limited space due to their small design, which provides an effective solution for uses requiring high heat transfer rates. Plate and frame heat exchangers significantly improve productivity across a range of sectors by having an impact on processes that depend on precise temperature control.

Furthermore, plate and frame heat exchangers exhibit extraordinary adaptability and versatility with efficient handling of a variety of fluids and accommodation of a range of temperatures and pressures. Because of this adaptability, they are vital instruments in a variety of sectors, including petrochemicals, power generation, and pharmaceuticals, where effective heat transmission is crucial. Heat exchangers manufacturers have also started launching dedicated plate and frame heat type of exchangers meant for specific applications in specific industries. For instance, in February 2023, Alfa Laval launched a new hygienic line of gasketed plate heat exchangers (GPHEs) especially for food and beverage manufacturers to maintain high hygiene standards and maximize productivity.

Extensive demand from oil and gas, and petrochemicals industry

In the sector of oil & gas processing, where precise temperature control is crucial, plate and frame heat exchangers play an important role.. Critical processes like distillation, evaporation, and condensation benefit greatly from their skill in achieving a close temperature approach and enabling high rates of heat transfer. Since plate and frame heat exchangers significantly improve process efficiency, which leads to lower energy consumption and higher total production yields, these heat exchangers have become essential to both the oil and gas, and petrochemical sectors. Their capacity to uphold strict temperature control guidelines guarantees that petrochemical reactions go as intended, ultimately resulting in higher-quality final end-products.

Opportunities

Growing demand from biopharmaceutical industry

Thanks to improvements in medical therapies, the biopharmaceutical sector is booming with plate and frame heat exchangers playing an important role in fermentation, purification, and sterilization processes in the industry. These heat exchangers control the temperature during fermentation, promoting the growth of microorganisms and distinguish useful bioproducts from contaminants during purification. To ensure the safety of the final product, dangerous bacteria are eliminated during sterilization. These heat exchangers also play a vital role in preserving the effectiveness, quality, and safety of biopharmaceutical production, supporting the market's pursuit of cutting-edge treatments.

Geographic Overview

• North America
• Europe
• Asia Pacific (APAC)
• Middle East and Africa (MEA)
• Latin America

The global plate and frame heat exchanger market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa region. Europe held ~32% market share in 2022; however, the Asia-Pacific region is expected to grow with the highest CAGR owing to the presence of the several large manufacturers in China, highly developed chemicals and petrochemicals industry of China, and growing demand for HVAC and refrigeration systems in the region.

Competitive Insight

Alfa Laval is a world leader in plate and frame heat exchangers and is known for its knowledge of heat transfer techniques. The company has a broad product portfolio for a variety of industries, including chemical processing, food and beverage production, and HVAC. The business stands out for its dedication to sustainability and innovation, which is seen by its ongoing attempts to improve the effectiveness and environmental performance of their heat exchangers. Alfa Laval has established itself as a reliable supplier of heat transfer systems with a presence in over 100 countries. They are market leaders in plate and frame heat exchangers, thanks to their customer-centered philosophy, which is in line with the changing demands of many sectors throughout the world. The company also places a major emphasis on research and development of new and advanced plate and frame heat exchangers.

Kelvion Holding GmbH is known for its expertise in heat exchange solutions with a comprehensive selection of premium plate and frame heat exchangers suited to numerous industrial applications. With a presence all over the world and a history spanning more than a century, Kelvion has made a name for itself as a reliable supplier of effective heat transfer systems. The company's wide range of products cater to industries such as food and beverage, chemical processing, HVAC, and power generation. It is clear from Kelvion's ongoing efforts to enhance the energy effectiveness and environmental performance of their heat exchangers that the company is dedicated to innovation and sustainability. Their cutting-edge technologies and focus on the needs of the consumer make them a major player in the industry.

Recent Development by Key Players

In May 2023, Xylem launched a new high-efficiency gasketed plate and frame heat exchanger with the additional of advanced ‘X’ plates, which increase the heat transfer thermal performance up to 20%, reduces surface area by up to 20%, and reduces material by another 15%.

In April 2023, Alfa Laval partnered with Boliden to manufacture more sustainable heat exchangers. Alfa Laval also announced that it will use Boliden’s low-carbon copper to produce brazed heat exchanger with a lower carbon footprint than its competitors. Alfa Laval is aiming to launch its first low-carbon brazed heat exchanger by the end of 2023.

Key Players Covered in the Report

Kelvion Holding GmbH, Guntner GmbH and Co. KG, Hisaka Works Ltd., HRS, Kaori Heat Treatment Co., Ltd., SGL Group, SPX Flow, AIC, GEA Group, Alfa Laval, API Heat Transfer, Danfoss Group, Fischer Maschinen, Apparatebau GmbH, Armstrong Fluid Technologies, Thermax Ltd, GU and THT, Xylem, FUNKE, LS Heat Exchange, and Kaori Heat Treatment.

The plate and frame heat exchanger market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.

Segments Covered in the Report

• ByType

• Gasketed
• Welded
• Brazed

• By End-Use Industry

• Oil and gas
• Chemicals
• HVAC and refrigeration
• Food and beverages
• Power generation
• Pulp and paper
• Other End-use Industry

Region Covered in the Report

• North America

• U.S.
• Canada
• Mexico

• Europe

• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Rest of Europe

• Asia-Pacific (APAC)

• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific

• Middle East and Africa (MEA)

• Saudi Arabia
• U.A.E
• South Africa
• Rest of MEA

• Latin America

• Argentina
• Brazil
• Chile
• Rest of Latin America

Source: VynZ Research

Source: VynZ Research

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Product Type
                1.2.2.    By End-User
                1.2.3.    By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Methodology
                1.5.1.    Data Sources
                        1.5.1.1. Primary Research
                        1.5.1.2. Secondary Research
                1.5.2.    Methodology
                        1.5.2.1. Data Exploration
                        1.5.2.2. Forecast Parameters
                        1.5.2.3. Data Validation
                        1.5.2.4. Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis
                3.3.3.    Market Share Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Product Type
                5.1.1.    Gasketed
                        5.1.1.1. Market Definition
                        5.1.1.2. Market Estimation and Forecast to 2030 
                5.1.2.    Welded
                        5.1.2.1. Market Definition
                        5.1.2.2. Market Estimation and Forecast to 2030
                5.1.3.    Brazed
                        5.1.2.1. Market Definition
                        5.1.2.2. Market Estimation and Forecast to 2030
        5.2.    By End-User
                5.2.1.    Oil and gas
                        5.2.1.1. Market Definition
                        5.2.1.2. Market Estimation and Forecast to 2030
                5.2.2.    Chemicals
                        5.2.2.1. Market Definition
                        5.2.2.2. Market Estimation and Forecast to 2030
                5.2.3.    HVAC and refrigeration
                        5.2.3.1. Market Definition
                        5.2.3.2. Market Estimation and Forecast to 2030
                5.2.4.    Food and beverages
                        5.2.4.1. Market Definition
                        5.2.4.2. Market Estimation and Forecast to 2030
                5.2.5.    Power generation
                        5.2.5.1. Market Definition
                        5.2.5.2. Market Estimation and Forecast to 2030
                5.2.6.    Pulp and paper
                        5.2.6.1. Market Definition
                        5.2.6.2. Market Estimation and Forecast to 2030
                5.2.7.    Other End-use Industry
                        5.2.7.1. Market Definition
                        5.2.7.2. Market Estimation and Forecast to 2030
                        
6.    North America Market Estimate and Forecast

        6.1.    By Product Type
        6.2.    By End-User
        6.3.    By Country – U.S., Canada, and Mexico
                6.3.1.    U.S. Market Estimate and Forecast
                6.3.2.    Canada Market Estimate and Forecast
                6.3.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Product Type
        7.2.    By End-User
        7.3.    By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
                7.3.1.    Germany Market Estimate and Forecast
                7.3.2.    France Market Estimate and Forecast
                7.3.3.    U.K. Market Estimate and Forecast
                7.3.4.    Italy Market Estimate and Forecast
                7.3.5.    Spain Market Estimate and Forecast
                7.3.6.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Product Type
        8.2.    By End-User
        8.3.    By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
                8.3.1.    China Market Estimate and Forecast
                8.3.2.    Japan Market Estimate and Forecast
                8.3.3.    India Market Estimate and Forecast
                8.3.4.    South Korea Market Estimate and Forecast
                8.3.5.    Singapore Market Estimate and Forecast
                8.3.6.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Product Type
        9.2.    By End-User
        9.3.    By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
                9.3.1.    Brazil Market Estimate and Forecast
                9.3.2.    Saudi Arabia Market Estimate and Forecast
                9.3.3.    South Africa Market Estimate and Forecast
                9.3.4.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    Kelvion Holding GmbH
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    Guntner GmbH and Co.
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    KG 
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    Hisaka Works Ltd.
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    HRS
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    Kaori Heat Treatment Co., Ltd.
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    SGL Group
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    SPX Flow
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    AIC
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.   GEA Group
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.11.   Alfa Laval
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.12.   API Heat Transfer
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.13.   Danfoss Group
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.14.   Fischer Maschinen
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.15.   Apparatebau GmbH
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.16.   Armstrong Fluid Technologies
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.17.   Thermax Ltd
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.18.   GU and THT
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.19.   Xylem
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.20.   FUNKE
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.21.   LS Heat Exchange
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.22.   Kaori Heat Treatment
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Plate and Frame Heat Exchanger Market Size, By Product Type, 2018 - 2023 (USD Billion)
Table 5 Global Plate and Frame Heat Exchanger Market Size, By Product Type, 2025 - 2030 (USD Billion)
Table 8 Global Plate and Frame Heat Exchanger Market Size, By End-User, 2018 - 2023 (USD Billion)
Table 9 Global Plate and Frame Heat Exchanger Market Size, By End-User, 2025 - 2030 (USD Billion)
Table 10 Global Plate and Frame Heat Exchanger Market Size, By Region, 2018 - 2023 (USD Billion)
Table 11 Global Plate and Frame Heat Exchanger Market Size, By Region, 2025 - 2030 (USD Billion)
Table 12 North America Plate and Frame Heat Exchanger Market Size, By Product Type, 2018 - 2023 (USD Billion)
Table 13 North America Plate and Frame Heat Exchanger Market Size, By Product Type, 2025 - 2030 (USD Billion)
Table 16 North America Plate and Frame Heat Exchanger Market Size, By End-User, 2018 - 2023 (USD Billion)
Table 17 North America Plate and Frame Heat Exchanger Market Size, By End-User, 2025 - 2030 (USD Billion)
Table 18 North America Plate and Frame Heat Exchanger Market Size, By Region, 2018 - 2023 (USD Billion)
Table 19 North America Plate and Frame Heat Exchanger Market Size, By Region, 2025 - 2030 (USD Billion)
Table 20 Europe Plate and Frame Heat Exchanger Market Size, By Product Type, 2018 - 2023 (USD Billion)
Table 21 Europe Plate and Frame Heat Exchanger Market Size, By Product Type, 2025 - 2030 (USD Billion)
Table 24 Europe Plate and Frame Heat Exchanger Market Size, By End-User, 2018 - 2023 (USD Billion)
Table 25 Europe Plate and Frame Heat Exchanger Market Size, By End-User, 2025 - 2030 (USD Billion)
Table 26 Europe Plate and Frame Heat Exchanger Market Size, By Region, 2018 - 2023 (USD Billion)
Table 27 Europe Plate and Frame Heat Exchanger Market Size, By Region, 2025 - 2030 (USD Billion)
Table 28 Asia-Pacific Plate and Frame Heat Exchanger Market Size, By Product Type, 2018 - 2023 (USD Billion)
Table 29 Asia-Pacific Plate and Frame Heat Exchanger Market Size, By Product Type, 2025 - 2030 (USD Billion)
Table 32 Asia-Pacific Plate and Frame Heat Exchanger Market Size, By End-User, 2018 - 2023 (USD Billion)
Table 33 Asia-Pacific Plate and Frame Heat Exchanger Market Size, By End-User, 2025 - 2030 (USD Billion)
Table 34 Asia-Pacific Plate and Frame Heat Exchanger Market Size, By Region, 2018 - 2023 (USD Billion)
Table 35 Asia-Pacific Plate and Frame Heat Exchanger Market Size, By Region, 2025 - 2030 (USD Billion)
Table 36 RoW Plate and Frame Heat Exchanger Market Size, By Product Type, 2018 - 2023 (USD Billion)
Table 37 RoW Plate and Frame Heat Exchanger Market Size, By Product Type, 2025 - 2030 (USD Billion)
Table 40 RoW Plate and Frame Heat Exchanger Market Size, By End-User, 2018 - 2023 (USD Billion)
Table 41 RoW Plate and Frame Heat Exchanger Market Size, By End-User, 2025 - 2030 (USD Billion)
Table 42 RoW Plate and Frame Heat Exchanger Market Size, By Region, 2018 - 2023 (USD Billion)
Table 43 RoW Plate and Frame Heat Exchanger Market Size, By Region, 2025 - 2030 (USD Billion)

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Plate and Frame Heat Exchanger Market- Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Plate and Frame Heat Exchanger Market Highlight
Figure 12 Global Plate and Frame Heat Exchanger Market, By Product Type, 2018 - 2030 (USD Billion)
Figure 14 Global Plate and Frame Heat Exchanger Market, By End-User, 2018 - 2030 (USD Billion)
Figure 15 Global Plate and Frame Heat Exchanger Market, By Region, 2018 - 2030 (USD Billion)
Figure 16 North America Plate and Frame Heat Exchanger Market Highlight
Figure 17 North America Plate and Frame Heat Exchanger Market, By Product Type, 2018 - 2030 (USD Billion)
Figure 19 North America Plate and Frame Heat Exchanger Market, By End-User, 2018 - 2030 (USD Billion)
Figure 20 North America Plate and Frame Heat Exchanger Market, By Region, 2018 - 2030 (USD Billion)
Figure 21 Europe Plate and Frame Heat Exchanger Market Highlight
Figure 22 Europe Plate and Frame Heat Exchanger Market, By Product Type, 2018 - 2030 (USD Billion)
Figure 24 Europe Plate and Frame Heat Exchanger Market, By End-User, 2018 - 2030 (USD Billion)
Figure 25 Europe Plate and Frame Heat Exchanger Market, By Region, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific Plate and Frame Heat Exchanger Market Highlight
Figure 27 Asia-Pacific Plate and Frame Heat Exchanger Market, By Product Type, 2018 - 2030 (USD Billion)
Figure 29 Asia-Pacific Plate and Frame Heat Exchanger Market, By End-User, 2018 - 2030 (USD Billion)
Figure 30 Asia-Pacific Plate and Frame Heat Exchanger Market, By Region, 2018 - 2030 (USD Billion)
Figure 31 RoW Plate and Frame Heat Exchanger Market Highlight
Figure 32 RoW Plate and Frame Heat Exchanger Market, By Product Type, 2018 - 2030 (USD Billion)
Figure 34 RoW Plate and Frame Heat Exchanger Market, By End-User, 2018 - 2030 (USD Billion)
Figure 35 RoW Plate and Frame Heat Exchanger Market, By Region, 2018 - 2030 (USD Billion)