Welded Plate And Block Heat Exchangers Industry Overview
The global welded plate and block heat exchangers market size was valued at USD 831.4 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2019 to 2025.
The global market is expected to witness significant growth on account of rising product demand from various end-use industries including HVAC and refrigeration, food & beverages, petrochemicals, and power generation, among others. HVAC & refrigeration end-use segment dominated the market in 2018 owing to the increasing consumer spending coupled with growing demand for thermal management in residential and commercial establishments.
Gather more insights about the market drivers, restrains and growth of the Welded Plate And Block Heat Exchangers Market
Rising demand from power generation sector is resulting in the expansion of energy infrastructure, which is expected to drive the growth of the market over the forecast period. Rising demand from the chemical industry, technological innovation, and increasing focus on improving efficiency standards are further expected to drive the growth of the market over the forecast period.
Companies are shifting their focus toward product differentiation to ensure continuous regeneration of their product portfolios and to cater to consumer-specific requirements. Companies are also adopting strategic initiatives such as mergers & acquisitions to diversify their product portfolios and reduce vulnerability to fluctuations in the raw material prices. Major market players are not only taking advantage of low-cost feedstock in Asia Pacific and CSA regions but also investing heavily in R&D activities dedicated to sustainability.
The U.S. leads other countries in terms of the number of operational nuclear reactors. Ongoing construction activities for additional nuclear capacities are expected to drive power generation industry over the foreseeable future. Growing chemical industry in the country is anticipated to have a positive influence on the product demand over the forecast period. Growing refinery capacities and establishment of new chemical plants in the U.S. are other factors that are projected to drive the plate & block heat exchangers market over the forecast period.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
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Welded Plate And Block Heat Exchangers Market Segmentation
Grand View Research has segmented the global welded plate and block heat exchanger market on the basis of end use and region:
Welded Plate And Block Heat Exchanger End Use Outlook (Revenue, USD Million, 2014 - 2025)
- Chemical
- Food & Beverages
- HVAC & Refrigeration
- Petrochemicals
- Power Generation
- Pulp & Paper
- Others
Welded Plate And Block Heat Exchanger Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
Europe
Central & South America
Middle East and Africa
Key Companies profiled:
- Alfa Laval AB
- API Heat Transfer
- Danfoss
- Kelvion Holding GmbH.
- Nexson Group
- Barriquand Group
- SPX Flow
- Hisaka Works Limited
- Tranter Inc.
- WCR,Inc.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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