The gasketed plate heat exchanger market size was valued at $3.1 billion in 2021, and is estimated to reach $5.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031. Gasketed plate heat exchanger consist of a series of corrugated plates hung from a carrying bar clamped between fixed and movable heads. The heat transfer plates are normally manufactured in stainless steel, however are available in other materials. In gasketed plate heat exchanger, each heat transfer plate is fitted with an elastomeric gasket, which seals and distributes the process fluids. The heads, normally referred to as channel covers, include connections to permit the entry of the process fluid into the plate pack. gasketed plate heat exchanger are used for heating and cooling for the petrochemical, food, drink, dairy, and pharmaceutical & biotechnology industries; as well as pasteurizing and sterilizing in the food and drink industries. However, the main features of gasketed heat exchanger are suitable for heating, cooling, freezing, pasteurizing, sterilizing, cooking, and concentration in the food & dairy industries. Owing to pressure and temperature gradients among plates, these devices are exposed to a high-stress level.
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Gasketed plate heat exchanger are highly used in pharmaceutical, oil & gas, and food & beverages industries. In addition, rise in demand for medicines, gasoline, and other food products across the globe may act as the major driving factor for the gasketed plate heat exchanger market growth. Moreover, rise in dependency on petrochemical has led to increase in the demand for gasketed plate heat exchanger system that is anticipated to create lucrative opportunities for the market.
The gasketed plate heat exchanger market forecast is segmented on the basis of Type, Material, End-use, and region. Depending on Type, the market is categorized into industrial GPHE, semi welded GPHE, and widegap GPHE. On the basis of Material, it is divided into stainless steel, titanium and tungsten. On the basis of End-use, it is classified into chemical, oil & gas, HVAC & refrigeration, food & beverage, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global gasketed plate heat exchanger market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Danfoss, Heatex Industries Ltd., HRS Process Systems Ltd., HYDAC International GmbH, Alfa Laval, Kelvion Holding GmbH, Majestic Marine & Engineering Services, Process Engineers and Associates, Xylem, Ved Engineering, Transcon Engineers Pvt. Ltd., Delta Cooling Towers P. Ltd., Techtrans Engineers, and Tranter.
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The global gasketed plate heat exchanger market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021-2031. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the gasketed plate heat exchanger market growth.
- On the basis of Type, the industrial GPHE segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
- On the basis of Material, the stainless-steel segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
- On the basis of End-use, the food & beverage segment registered the highest gasketed plate heat exchanger market share and is projected to maintain the same during the forecast period.
- On the basis of region, Asia-Pacific registered the highest market share and is projected to maintain the same during the forecast period.
- The COVID-19 pandemic severely impacted the growth of the global gasketed plate heat exchanger market owing to supply chain disruptions, economic uncertainty, and weakened economic activities.
- Economic uncertainty and volatility in financial and commodity markets along with the reduction in demand for oil and gas due to disagreements with the organization of the petroleum exporting countries (OPEC) during the COVID-19 pandemic impacted the growth of the global market.
- Post lockdown, chemical, petrochemical, and food & beverages industries have commenced their functions at a rapid pace and are trying to recover their losses.
Key Segment of market:
- Industrial GPHE,
- Semi Welded GPHE
- Widegap GPHE.
- Stainless Steel
- Oil & Gas
- HVAC & Refrigeration
- Food & Beverage
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