DUBLIN--(BUSINESS WIRE)--The "Brazed Plate Heat Exchangers Market by Application (Evaporator, Condenser, And Economizer), End-use Industry (HVACR, chemical, food & beverage, power, heavy industries, and others), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The BPHEs market size was USD 750 million in 2018 and is projected to reach USD 1,120 million by 2024, at a CAGR of 7.0% between 2019 and 2024.
Growth of the global construction sector and increasing demand for HVACR systems are driving the overall BPHEs market.
The market is driven by various factors, such as increasing demand for HVACR systems from the construction industry, technological developments in the BPHEs, along with rapid industrialization in emerging countries. However, BPHEs are not demountable, which is restraining the growth of the market.
HVACR industry is expected to account for the largest market share during the forecast period.
BPHEs provide efficient solutions for various applications in HVACR systems. The most common application is heat transfer between the refrigerant and water or brine solution. HVACR systems are used to economize the use of energy in the construction industry. The rapid growth in the global construction industry has a positive impact on the HVACR industry. This drives the use of BPHEs in the HVACR industry.
APAC is expected to register the highest growth during the forecast period.
APAC is expected to register the highest growth during the forecast period due to the increasing population and urbanization. The increasing developments in the construction, HVACR, and chemical industries in emerging countries of the region are providing huge growth opportunities for the BPHEs market.
- Growth of Global Construction Sector and Increasing Use of HVACr Systems in the Sector
- Technological Developments
- BPHEs are Not Demountable
- Rapid Industrialization in Emerging Economies
- Alfa Laval
- API Heat Transfer
- Chart Industries
- Hisaka Works
- Paul Mueller Company
- Baode Heat Exchanger
- Barriquand Group
- Boyd Corporation
- Diversified Heat Transfer
- HRS Heat Exchangers
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