Brazed Plate Heat Exchangers Market Size Report and Growth Analysis 2030

Brazed Plate Heat Exchangers Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product (Single Circuit and Multi-circuit), Application (Condenser, Economizer, Evaporator, and Others), and End Use Industry (HVACR, Chemicals, Food & Beverage, Power, Heavy Industries, IT & Telecommunication, and Others)

Publication Month : Dec 2023

  • Report Code : TIPRE00009417
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 173
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[Research Report] The brazed plate heat exchangers market size was valued at US$ 1.12 billion in 2022 and is expected to reach US$ 2.11 billion by 2030; it is estimated to record a CAGR of 8.3% from 2022 to 2030.

Analyst Perspective:

Compact and lightweight brazed plate heat exchangers are more energy-efficient than traditional heat exchangers, making them a major choice for applications where energy efficiency is critical. Compact and lightweight brazed plate heat exchangers can be installed in spaces where traditional heat exchangers are unable to fit. This is important for applications in aerospace and marine industries, where space is limited. These exchangers are easy to transport and install, making them ideal for portable applications such as construction and disaster relief. In addition, compact and lightweight brazed plate heat exchangers are used in portable construction equipment, such as air compressors and generators, as well as in mobile disaster relief units to provide hot water and heating equipment for victims. Increasing technological advancements are making it possible to develop brazed plate heat exchangers that are highly compact and lightweight for various industrial applications. As the need for energy-efficient solutions continues to grow, along with technological advancements, the demand for compact and lightweight brazed plate heat exchangers is expected to increase. Therefore, the increasing focus on the development of compact and lightweight designs is anticipated to fuel the brazed plate heat exchangers market in near future.

Brazed Plate Heat Exchangers Market Overview:

A brazed plate heat exchanger comprises corrugated plates that combine to establish channels through which a cold medium and a hot medium (typically water) can be distributed. These heat exchangers can be used for a range of functions in a cooling or heating system—they can act as evaporators, oil or gas coolers, condensers, and other functions that imply the transfer of cooling or heating. They are widely used in many different industries and often in large-scale residential heat networks. They play an essential role in delivering air conditioning processes and refrigeration, production, data center cooling, and residential heating. Brazed plate heat exchangers offer various advantages. Approximately 95% of the material is used for heat transfer, with no requirement for gaskets or auxiliary equipment. You can also make effective use of slight temperature changes due to the extremely turbulent flow. Due to its sturdy design, gaskets are not used, reducing the possibility of leaks. This indicates consistent hydraulic and thermal performance and less maintenance and downtime. The small size of the exchangers allow for a more flexible system design and better use of available space.

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Brazed Plate Heat Exchangers Market: Strategic Insights

brazed-plate-heat-exchangers-market
Market Size Value inUS$ 1.12 billion in 2022
Market Size Value byUS$ 2.11 billion by 2030
Growth rateCAGR of 8.3% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Brazed Plate Heat Exchangers Market Driver: 

Growing Pharmaceutical Industry Fuels Brazed Plate Heat Exchangers Market Growth

The pharmaceutical industry has strict requirements for sterility and temperature control in its manufacturing processes. Brazed plate heat exchangers are important for these applications because they are hermetically sealed and can be used to heat and cool fluids to precise temperatures. Brazed plate heat exchangers are considered highly efficient and reliable at transferring heat. It is widely used in the pharmaceutical industry, where heat transfer is used in a variety of processes, such as distillation, crystallization, and drying. Brazed plate heat exchangers are available in various sizes and configurations, making them versatile and scalable solutions for the pharmaceutical industry. It is crucial as pharmaceutical companies need to be able to adjust their production capacity to meet demand easily. Brazed plate heat exchangers are utilized to heat and cool sterile fluids such as water, saline, and buffers. These fluids are used in a variety of pharmaceutical manufacturing processes, such as the production of injectables and sterile liquids. Also, brazed plate heat exchangers can be used to sterilize equipment such as bioreactors, pipelines, and tanks. It helps to prevent the contamination of pharmaceutical products. These heat exchangers are used in the manufacturing of vaccines to heat and cool the culture medium in which the vaccine virus is grown.

Furthermore, over the years, several countries have experienced significant demand for drugs, and the trend is rapidly increasing, propelling pharmaceutical companies to increase their production and sales. The demand for generic drugs is more important than that of their counterparts, i.e., brand name drugs, owing to lower costs for the same chemical composition. This is leading to the development of new and innovative manufacturing processes, which often require the use of brazed plate heat exchangers. Hence, the growing pharmaceutical industry is a key factor driving the brazed plate heat exchangers market.

Brazed Plate Heat Exchangers Market Segmental Analysis:

The brazed plate heat exchangers market is segmented on the basis of product, application, end use industry, and geography. Based on product, the brazed plate heat exchangers market is bifurcated into a single circuit and multi-circuit. The multi-circuit segment held a larger share of the brazed plate heat exchangers market in 2022. In terms of application, the market is segmented into condenser, economizer, evaporator, and others. The evaporator segment held the largest share in the brazed plate heat exchangers market in 2022 and is expected to continue its dominance over the forecast period. Based on end use industry, the brazed plate heat exchangers market is categorized into HVACR, chemicals, food & beverages, power, heavy industries, IT & telecommunication, and others. The HVACR segment held the largest share in the brazed plate heat exchangers market in 2022. Geographically, the brazed plate heat exchangers market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

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The multi-circuit segment held a larger share in the brazed plate heat exchangers market in 2022. A multi-circuit brazed plate heat exchanger is a type of heat exchanger that transfers heat between fluids by using two or more distinct circuits. This type of heat exchanger is frequently employed in situations where distinct fluids must be isolated from one another or when the temperature of numerous fluids must be controlled independently. Several players provide multi-circuit brazed plate heat exchangers. For instance, HFM provides an HFM brazed plate heat exchanger that consists of two separate channels or circuits. It is vacuum-brazed with a pure copper filler; it is used for the vacuum-brazing process. The presence of leading multi-circuit brazed plate heat exchanger providers is projected to boost the multi-circuit segment in the market.

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Brazed Plate Heat Exchangers Market Regional Analysis:

The North American brazed plate heat exchangers market was valued at US$ 319.41 million in 2022 and is projected to reach US$ 580.64 million by 2030; it is expected to record a CAGR of 7.8% from 2022 to 2030. In North America, regulations related to climate change and environmental concerns are forcing the HVAC sector to reconsider its refrigerant selection and put more emphasis on increased performance and energy efficiency. Moreover, in the HVAC industry, all American Supply Association (ASA) members should be informed about the switch to low-global warming potential (LGWP) refrigerants. HFC refrigerants are likely to be phased out by 85% by 2036, according to the federal AIM Act. A few US states such as California have set deadlines for compliance, while many other states have already modified their building regulations to permit the use of LGWP refrigerants, including A2L. The deadlines for refrigerants with a global warming potential (GWP) of 750 or above have been established by the California Air Resource Board (CARB). Thus, the increasing concern for the environment and emphasis on LGWP are propelling the growth of the North America brazed plate heat exchangers market.

Brazed Plate Heat Exchangers Market Key Player Analysis:

Alfa Laval AB, API Heat Transfer Inc, Baode Heat Exchanger Equipment Co Ltd, Chart Industries Inc, Danfoss AS, Hisaka Works Ltd, Kelvion Holding GmbH, Paul Mueller Co, SWEP International AB, and Xylem Inc are among the leading brazed plate heat exchangers market players. Several other major companies have been analyzed during this research study to get a holistic view of the brazed plate heat exchangers market ecosystem.

Recent Developments:

The brazed plate heat exchangers market players highly adopt inorganic and organic strategies. A few major brazed plate heat exchangers market developments are listed below:

  • In August 2023, SWEP launched the B8DW unit as its latest product addition to the range of double wall heat exchangers, designed for applications requiring improved leak protection.
  • In June 2023, Danfoss expanded its heat exchanger production capacity in response to heat pumps, chillers, and district energy. The Danish manufacturer claims to have substantially expanded its production of brazed-plate heat exchangers in China and Slovenia. In addition, Danfoss invested in propane test facilities in France and further expanded its range of R290 microplate brazed plate heat exchangers.
  • In April 2022, US firm Chart Industries received an order to provide equipment for the second phase of Venture Global’s Plaquemines LNG export project in Louisiana. This order was for the production of six brazed aluminum heat exchanger assemblies (BAHX) and cold boxes. These were the first six of the anticipated 18 BAHX assemblies and cold boxes for the full 10 mtpa Plaquemines Phase 2 facility.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Application, and End Use Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What will be the market size of the global brazed plate heat exchanger market by 2030?

The global brazed plate heat exchanger market is expected to reach US$ 2.11 billion by 2030.

Which are the key players holding the major market share of the global brazed plate heat exchanger market?

The key players holding majority shares in the global brazed plate heat exchanger market are Alfa Laval AB, Danfoss AS, Hisaka Works Ltd, Kelvion Holding GmbH, and SWEP International AB.

What is the incremental growth of the global brazed plate heat exchanger market during the forecast period?

The incremental growth expected to be recorded for the global brazed plate heat exchanger market during the forecast period is US$ 995.28 million.

What is the estimated market size for the global brazed plate heat exchanger market in 2022?

The Global brazed plate heat exchanger market was estimated to be US$ 1.12 billion in 2022 and is expected to grow at a CAGR of 8.3% during the forecast period 2022 - 2030.

What are the future trends of the global brazed plate heat exchanger market?

Rise in usage of edge computing is impacting the 5G base station market, which is anticipated to play a significant role in the global brazed plate heat exchanger market in the coming years.

What are the driving factors impacting the global brazed plate heat exchanger market?

Growing pharmaceutical industry, increasing usage of brazed plate heat exchangers in HVACR industry, and growth in number of renewable energy projects are the major factors that propel the global brazed plate heat exchanger market.

The List of Companies - Brazed Plate Heat Exchangers Market

  1. Alfa Laval AB
  2. API Heat Transfer Inc.
  3. Baode Heat Exchanger Equipment Co Ltd      
  4. Chart Industries Inc
  5. Danfoss AS
  6. Hisaka Works Ltd
  7. Kelvion Holding GmbH
  8. Paul Mueller C
  9. SWEP International AB
  10. Xylem Inc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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