Asia Pacific Plate & Frame Heat Exchangers Market Size & Outlook
Asia Pacific plate & frame heat exchangers market, 2018-2030 (US$M)
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Asia Pacific plate & frame heat exchangers market highlights
- The Asia Pacific plate & frame heat exchangers market generated a revenue of USD 1,872.0 million in 2023.
- The market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, gasketed was the largest revenue generating product in 2023.
- Brazed is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,872.0 million |
| Market revenue in 2030 | USD 2,988.4 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | Gasketed |
| Fastest growing segment | Brazed |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Brazed, Gasketed, Welded |
| Key market players worldwide | Alfa Laval AB, API Heat Transfer, Danfoss A/S, Kelvion, Nexson Group, SPX FLOW, Hisaka Works, Tranter, WCR, Gooch Thermal Systems, HFM |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 31.7% of the global plate & frame heat exchangers market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,988.4 million by 2030.
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Plate & Frame Heat Exchangers Market Scope
Plate & Frame Heat Exchangers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific plate & frame heat exchangers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plate & frame heat exchangers market will help companies and investors design strategic landscapes.
Gasketed was the largest segment with a revenue share of 57.76% in 2023. Horizon Databook has segmented the Asia Pacific plate & frame heat exchangers market based on brazed, gasketed, welded covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region is the most rapidly expanding market globally, accounting for more than two-thirds of worldwide economic growth. The International Monetary Fund (IMF) report indicated that the region's GDP saw a 1.5% decline in 2020 due to COVID-19 containment measures and a global economic downturn.
However, the region experienced a robust recovery with an anticipated GDP growth of 4.6% in 2023. This resurgence is fueled by improving economic landscapes, swift industrialization, and increased commercial activities, which are expected to positively influence the growth of the HVAC systems market. This, in turn, is poised to boost the demand for plate & frame heat exchangers significantly.
Furthermore, a surge in construction activities across the Asia Pacific region is set to increase the need for HVAC systems further. The following table highlights some of the largest ongoing construction projects in the region. These developments are predicted to catalyze the expansion of the HVAC systems market throughout the forecast period.
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Our clientele includes a mix of plate & frame heat exchangers market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific plate & frame heat exchangers market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific plate & frame heat exchangers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific plate & frame heat exchangers market size, by country, 2018-2030 (US$M)
Asia Pacific Plate & Frame Heat Exchangers Market Outlook Share, 2023 & 2030 (US$M)
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