The global welded plate and block heat exchanger market size
is anticipated to reach USD 1.2 billion by 2025, exhibiting a CAGR of 5.9% over
the forecast period, according to a new report published by Grand View
Research, Inc. The market is anticipated to be driven by the growing demand for
the product in HVAC & refrigeration, power generation, and petrochemical
industries, especially in emerging economies in Asia Pacific and CSA regions.
Welded plate & block heat exchangers play
a significant role in enhancing heat transfer efficiency of industrial
machinery. Growing demand for efficient thermal management systems with low
space requirements is expected to drive the demand for plate & block heat
exchangers over the forecast period.
Growth of industrial sectors including food
& beverages, chemicals, pulp & paper, power generation, metal &
mining, textiles, and oil & gas is leading to an increase in the
requirement for highly-efficient and compact heat exchangers, which, in turn,
is expected to drive the growth of the market over the forecast period.
Based on end use, HVAC & refrigeration
segment is expected to be the largest segment in the global market and the
trend is expected to continue over the forecast period. The segment is expected
to reach USD 276.1 million by 2025. HVAC & refrigeration end-use segment
dominated the market in 2018 owing to increasing consumer spending coupled with
the growing demand for thermal management in residential and commercial
establishments.
Increasing requirement for heat recovery
applications in chemical, HVAC, and food & beverage sectors is expected to
drive the demand for welded plate & block heat exchangers over the forecast
period. Food & beverages segment was the second-largest segment in the market
in 2018 and is projected to grow at a CAGR of 6.9% from 2019 to 2025. Growing
concerns regarding the shelf life of processed food and alcoholic beverages are
expected to drive the product demand over the forecast period.
Asia Pacific was the largest market in 2018.
The region is expected to be valued at USD 541.6 million by 2025, growing at an
estimated CAGR of 7.8% over the forecast period. Rapid urbanization and growing
population in various countries including China and India are expected to drive
the industrial growth in the region. In the U.S., growing refinery capacities
and the establishment of new chemical plants are expected to drive the market
growth over the forecast period.
Browse full research report on Shock
Sensor Market:
https://www.grandviewresearch.com/industry-analysis/welded-plate-block-heat-exchangers-market
Further key
findings from the report suggest:
- In terms of revenue,
the U.S. market is projected to grow at a CAGR of 1.8% over the forecast
period
- The European welded
plate and block heat exchanger market was valued at USD 248.3 million in
2018 and is projected to witness robust growth over the forecast period
owing to the rising construction and automobile industries
- CSA is expected to
exhibit a remarkable growth rate of 8.3% with increasing oil & gas
activities in Venezuela and Brazil over the forecast period.
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/welded-plate-block-heat-exchangers-market/request/rs1
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
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- Central & South
America
- Brazil
- Middle East and
Africa
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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