At 9.1% CAGR, Asia Pacific Brazed Plate Heat Exchangers Market is Projected to be Worth US$ 573.02 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific brazed plate heat exchangers market was valued at US$ 285.74 million in 2022 and is projected to reach US$ 573.02 million by 2030, registering a CAGR of 9.1% from 2022 to 2030. Growing pharmaceutical industry and increasing usage of brazed plate heat exchangers in HVACR industry are among the critical factors attributed to drive the Asia Pacific brazed plate heat exchangers market growth.

Brazed plate heat exchangers are becoming increasingly popular in the HVACR industry due to their numerous advantages over traditional heat exchangers. Brazed plate heat exchangers can achieve thermal efficiencies of up to 95%, making them more efficient than other types of heat exchangers, such as shell-and-tube heat exchangers, which can lead to significant energy savings for HVACR applications. Brazed plate heat exchangers are much smaller and lighter than other types of heat exchangers, making them easier to install and transport. It is essential for HVACR applications, where space is often limited. Brazed plate heat exchangers are highly durable and reliable, making them ideal for demanding HVACR applications. They are also resistant to corrosion and fouling. Brazed plate heat exchangers are used in chillers and heat pumps to transfer heat between the refrigerant and the water or air that is being cooled or heated. Also, these are used in air handlers to transfer heat between the hot or cold water that is being circulated and the air that is being supplied to the building. Various companies are launching these exchangers for HVACR applications. In 2021, Trane launched a new line of air handlers that use brazed plate heat exchangers. These air handlers are more efficient and reliable than traditional air handlers, and they provide superior indoor air quality. Also, in 2022, Daikin launched a new line of condensing units that use brazed plate heat exchangers. These condensing units are more efficient and reliable than traditional condensing units, and they operate more quietly. Hence, the increasing usage of brazed plate heat exchangers in the HVACR industry is anticipated to create a substantial opportunity for the brazed plate heat exchanger market in the coming years.

On the contrary, limited availability of skilled technicians hampers the growth of Asia Pacific brazed plate heat exchangers market.

Based on product, the Asia Pacific brazed plate heat exchangers market is bifurcated into single circuit and multi circuit. The multi circuit segment held 65.7% market share in 2022, amassing US$ 187.78 million. It is projected to garner US$ 381.37 million by 2030 to register 9.3% CAGR during 2022-2030.

In terms of application, the Asia Pacific brazed plate heat exchangers market is segmented into condenser, economizer, evaporator, and others. The evaporator segment held 49.9% share of Asia Pacific brazed plate heat exchangers market in 2022, amassing US$ 142.51 million. It is anticipated to garner US$ 287.27 million by 2030 to expand at 9.2% CAGR during 2022-2030.

By end-use industry, the Asia Pacific brazed plate heat exchangers market is divided into HVACR, chemical, food & beverage, power, heavy industries, IT & telecommunication, others. The HVACR segment held 37.4% share of Asia Pacific brazed plate heat exchangers market in 2022, amassing US$ 106.94 million. It is projected to garner US$ 235.19 million by 2030 to expand at 10.4% CAGR from 2022 to 2030.

Based on country, the Asia Pacific brazed plate heat exchangers market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 34.7% share of Asia Pacific brazed plate heat exchangers market in 2022. It was assessed at US$ 99.01 million in 2022 and is likely to hit US$ 209.10 million by 2030, registering a CAGR of 9.8% during 2022-2030.

Key players operating in the Asia Pacific brazed plate heat exchangers market are Alfa Laval AB, Baode Heat Exchanger Equipment Co Ltd, Chart Industries Inc, Danfoss AS, Hisaka Works Ltd, Paul Mueller Co, SWEP International AB, and Xylem Inc, among others.

• In August 2023, SWEP launched the B8DW unit as the latest addition to the range of double wall heat exchangers, designed for applications requiring improved leak protection.
  
  
• In May 2023, Alfa Laval Business Unit Brazed & Fusion Bonded Heat Exchangers announced that it will increase its production of brazed plate heat exchangers to meet increasing demand in the ongoing global energy transition.
  
  
  
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