India Plate & Frame Heat Exchangers Market Size & Outlook
India plate & frame heat exchangers market, 2018-2030 (US$M)
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India plate & frame heat exchangers market highlights
- The India plate & frame heat exchangers market generated a revenue of USD 431.1 million in 2023 and is expected to reach USD 739.2 million by 2030.
- The India market is expected to grow at a CAGR of 8% 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.
Plate & frame heat exchangers market data book summary
| Market revenue in 2023 | USD 431.1 million |
| Market revenue in 2030 | USD 739.2 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Gasketed |
| Fastest growing segment | Brazed |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, India accounted for 7.3% of the global plate & frame heat exchangers market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China plate & frame heat exchangers market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 739.2 million by 2030.
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Plate & Frame Heat Exchangers Market Scope
Plate & Frame Heat Exchangers Market Companies
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India 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 58.87% in 2023. Horizon Databook has segmented the India plate & frame heat exchangers market based on brazed, gasketed, welded covering the revenue growth of each sub-segment from 2018 to 2030.
The plate & frame heat exchangers market in India is witnessing significant growth, fueled by an increase in construction activities, industrialization, and a rise in disposable incomes, alongside growing awareness about the products.
The India Cooling Action Plan highlights an anticipated elevenfold increase in the demand for space cooling in buildings from 2018 to 2038, with the International Energy Agency forecasting India as the world's largest consumer of space cooling by 2050.
This surge is expected to account for 28% of the country's electricity demand and 44% of its peak load, thus propelling the HVAC systems market and, by extension, the demand for plate & frame heat exchangers.
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Horizon Databook provides a detailed overview of country-level data and insights on the India plate & frame heat exchangers market , including forecasts for subscribers. This country databook contains high-level insights into India plate & frame heat exchangers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India plate & frame heat exchangers market size, by product, 2018-2030 (US$M)
India Plate & Frame Heat Exchangers Market Outlook Share, 2023 & 2030 (US$M)
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