Plate & Frame Heat Exchangers: $5.5 Billion market by 2020 signifying firm annualized growth rate of 9.30% from 2015 to 2020. The global plate & frame heat exchangers market has been witnessing many developments over the past few years. Plate & frame heat exchangers are preferred and widely accepted equipment for heat recovery process. The focus of various regulatory bodies to reduce the energy consumption for meeting the future sustainability are further driving the market for plate & frame heat exchangers globally. Plate & frame heat exchangers consumption has grown significantly in the recent times and is at an emerging stage in various countries.
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Plate and frame heat exchangers are the fastest growing segment in the heat exchanger market. It consists of a series of slender corrugated formed metal plates. Every pair of plate’s form a passage in which the fluid flows. They are then stacked collectively to form a sandwich type construction in which the other fluid flows in the spaces created between successive pairs of plates. This type of heat exchangers offers a compact and lightweight heat transfer surface. The plate heat exchanger offers advantages such as: it can operate with comparatively small temperature differences; the units in a plate and frame heat exchanger occupy a lesser amount of floor space and floor loading by having a large surface area that is created from a small volume. Their simple construction allows additional advantages like easy cleaning. Increased investment in the food & beverages, petrochemical, chemical, and HVACR industries and stringent environmental regulations are the major drivers triggering the growth of plate & frame heat exchangers market.
The key manufacturers of plate & frame heat exchangers, such as Alfa Laval AB (Sweden), GEA Group (Germany), Danfoss A/S (Denmark), SPX Corporation (U.S.), are investing in research & development activities and production facility to meet the growing demand for plate & frame heat exchangers.
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