Gasketed Plate Heat Exchangers Market is Expected to Accumulate USD 5.1 Billion Globally by 2031 at a CAGR of 5.2%: Allied Market Research

The massive use of gasketed plate heat exchangers in the pharmaceutical, oil and gas, and food and beverage industries is driving the growth of the global gasketed plate heat exchanger market.

PORTLAND, Oregon., October 5, 2022 /PRNewswire/ — Allied Market Research recently released a report titled “Sealed Plate Heat Exchangers Market By Type (Industrial GPHE, Wide Gap GPHE, Semi-Welded GPHE), By Material (Stainless Steel, Titanium, Tungsten), By End User (Food & Beverage, Oil & Gas, HVAC & Refrigeration, Chemicals, Others): Global Opportunities Analysis and Industry Forecast, 2021-2031.“According to the report, the global gasketed plate heat exchanger industry was estimated at $3.1 billion in 2021, and should reach $5.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031. The report offers detailed analysis of changing market trends, major segments, major investment pockets, value, regional landscapes and competitive scenarios.

Download a free sample report (380-page PDF with information, graphs, tables, figures): https://www.alliedmarketresearch.com/request-sample/31475

Drivers, constraints and opportunities

The massive use of gasketed plate heat exchangers in the pharmaceutical, oil and gas, and food and beverage industries is driving the growth of the global gasketed plate heat exchanger market. Additionally, strong demand for medicines, gasoline, and other food products globally is expected to drive the market trends. Moreover, increasing demand for water treatment and purification stations will create new growth opportunities for the global market in the coming years. However, the possibility of leaks in the gasketed plate heat exchanger due to higher pressure drops may hamper the growth of the global market.

Covid-19 scenario:

  • The COVID-19 pandemic has severely impacted the growth of the Global Gasketed Plate Heat Exchangers Market due to supply chain disruptions, economic uncertainty, and weakening economic activities.
  • Economic uncertainty and volatility in financial and commodity markets as well as reduced demand for oil and gas due to disagreements with the Organization of the Petroleum Exporting Countries (OPEC) during the COVID-19 pandemic have had an impact on the growth of the global market.
  • After the lockdown, the chemical, petrochemical and agro-food industries have started their activities at a rapid pace and are trying to recover their losses.

The industrial GPHE segment to dominate the global market in terms of revenue by 2031

Based on type, the industrial GPHE segment contributed the highest market share in 2021, accounting for more than two-thirds of the global gasketed plate heat exchanger market share. Reportedly, this segment is expected to contribute major contribution to the overall market share by 2031. The growth of the segment over the forecast period can be attributed to the use of gasketed plate heat exchangers in chemicals, biotechnology, adhesives, pharmaceuticals, food and beverages, solvents. , and water and sewer. Furthermore, this same segment is expected to register the fastest CAGR of almost 5.6% from 2022 to 2031. The report also analyzes other segments such as Wide Gap GPHE and Semi Welded GPHE.

The stainless steel segment will hold the major market share from 2022 to 2031

On the basis of material, the stainless steel segment is expected to contribute more than four-fifths of the global gasketed plate heat exchangers market in 2031. Additionally, the same segment also accounted for the majority of the market share in 2021. Furthermore, the stainless steel segment is expected to register the fastest CAGR of 5.4% during the forecast period. The growth of the segment over the forecast period can be attributed to the increase in demand for petrochemicals and products such as binders, resins, dyes, pigments, latex, acids, alkalis, petroleum products and solvents, leading to increased demand for stainless steel. plate heat exchanger and steel gaskets. The report also includes other segments such as titanium and tungsten.

The food and beverage segment will dominate the global market by 2031

In terms of end-user, the food and beverage segment contributed the highest market share in 2021, accounting for half of the global gasketed plate heat exchanger market share. Reportedly, this segment is expected to majorly contribute to an overall market share in 2031. The expansion of this segment over the forecast period is driven by the growing demand for packaged products such as juices, glucose, cold drinks, sauces and others leading to better demand for gasketed plate heat exchanger. Furthermore, the food and beverage segment is expected to register the fastest CAGR of almost 5.6% from 2022 to 2031. The report also analyzes segments such as oil and gas, HVAC and refrigeration, chemical and others.

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Asia Pacific maintain global market dominance over the period 2022-2031

By region, Asia-Pacific contributed notably in 2021 and is expected to continue to dominate during the forecast period. The region accounted for more than two-fifths of the global gasketed plate heat exchangers market in 2021. Market growth in the region over the forecast period can be attributed to rising population and urbanization in the region, leading to an engineering increase in water purification in the Asia Pacific and can act as the main regional market driver. Moreover, the Asia Pacific the region is expected to register the fastest CAGR of 5.6% from 2022 to 2031. The report analyzes other segments such as EuropeLAMEA and North America.

Main market players

  • Danfoss
  • Heatex Industries Ltd.
  • HRS Process Systems Ltd.
  • HYDAC International GmbH
  • Alfa Laval
  • Kelvion Holding GmbH
  • Majestic Maritime and Engineering Services
  • Process engineers and associates
  • Xylem
  • Ved Engineering
  • Transcon Engineers Pvt. ltd.
  • Delta P cooling towers. ltd.
  • Techtrans engineers
  • Tranter

The report analyzes these key players in the global Gasketed Plate Heat Exchangers market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances and joint ventures to improve market penetration and strengthen their position in the industry. The report helps the target audience to determine the performance of the market, the performance of each segment, the development of the product portfolio in the market, and the contributions made by each player to the expansion of the market.

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