Gasketed Plate Heat Exchanger Market to Accrue $5.1 Bn, Globally, by 2031 at 5.2% CAGR: Allied Market Research

News provided by

Oct 05, 2022, 05:30 ET

Massive use of gasketed plate heat exchanger in pharmaceutical, oil & gas, and food & beverages industries drive the growth of the global gasketed plate heat exchanger market.

PORTLAND, Ore., Oct. 5, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Gasketed Plate Heat Exchanger Market by Type (Industrial GPHE, Wide Gap GPHE, Semi Welded GPHE), by Material (Stainless Steel, Titanium, Tungsten), by End User (Food and Beverage, Oil and Gas, HVAC and Refrigeration, Chemical, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global Gasketed Plate Heat Exchanger industry was estimated at $3.1 billion in 2021, and is set to reach $5.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Download Free Sample Report (380 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/31475

Drivers, restraints, and opportunities

Massive use of gasketed plate heat exchanger in pharmaceutical, oil & gas, and food & beverages industries drive the growth of the global gasketed plate heat exchanger market. In addition, a prominent demand for medicines, gasoline, and other food products globally is predicted to boost market trends. Moreover, the increase in the need for water treatment and purification plants will create new growth opportunities for the global market in the years ahead. However, the possibility of leakages in gasketed plate heat exchanger due to higher pressure drops can obstruct the growth of the global market.

Covid-19 scenario:

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.

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

Based on the type, the industrial GPHE segment contributed to 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 predicted to contribute majorly toward overall market share by 2031. The growth of the segment over the forecast period can be attributed to the use of gasketed plate heat exchanger in chemicals, biotechnology, adhesives, pharmaceuticals, food & beverages, solvents, and water & sewage. Furthermore, this same segment is predicted to register the fastest CAGR of nearly 5.6% from 2022 to 2031. The report also analysis other segments such as Wide Gap GPHE and Semi Welded GPHE.

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

On basis of the material, the stainless steel segment is set to contribute more than four-fifths of the global gasketed plate heat exchanger market in 2031. Furthermore, the same segment also accounted majorly for the global market share in 2021. In addition, the stainless steel segment is anticipated to record the fastest CAGR of 5.4% during the forecast period. The growth of the segment over the forecast timeline can be attributed to rise in demand for petrochemicals and products such as binders, resins, dyes, pigments, latex, acids, alkalis, petroleum products, and solvents leading to a rise in demand for stainless-steel gasketed plate heat exchanger. The report also includes other segments such as Titanium and Tungsten.

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

In terms of the end user, the food and beverage segment contributed to the highest market share in 2021, accounting for half of the global gasketed plate heat exchanger market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The expansion of this segment over the forecast timeline is due to rising demand for packed products such as juice, glucose, cold drinks, sauces, and others leading to enhanced demand for gasketed plate heat exchanger. Furthermore, the food and beverage segment is predicted to register the fastest CAGR of nearly 5.6% from 2022 to 2031. The report also analyzes segments such as Oil and Gas, HVAC and Refrigeration, Chemical, and Others.

Interested to Procure the Data? Inquire Here @: https://www.alliedmarketresearch.com/purchase-enquiry/31475

Asia Pacific to retain global market domination over 2022-2031

By Region, Asia-Pacific contributed notably in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global gasketed plate heat exchanger market in 2021. The growth of the market in the region over the forecast timespan can be attributed to the rise in population and urbanization in the region leading to an increase in water purification engineering in the Asia-Pacific and may act as the major driving factor for the regional market. In addition, the Asia-Pacific region is anticipated to record the fastest CAGR of 5.6% from 2022 to 2031. The report analyzes other segments such as Europe, LAMEA, and North America.

Major market players

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
Tranter

The report analyzes these key players in the global gasketed plate heat exchanger market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.

Trending Reports in Gasketed Plate Heat Exchanger Industry (Book Now with 10% Discount):

India Heat Exchangers Market: India Opportunity Analysis and Industry Forecast, 2019-2026

Heat Exchanger Market: Global Opportunity Analysis and Industry Forecast 2021-2030

Brazed Plate Heat Exchangers Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Energy Recovery Ventilator Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Plate Heat Exchanger Market: Global Report opportunity Analysis and Industry Forecast, 2020-2030

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on Blog: https://www.marketinshort.com/
Follow Us on | Facebook | LinkedIn | YouTube