June 5, 2015: Plate and Frame Heat Exchangers Market Worth $5.5 Billion by 2020
Europe Is the Biggest Market; Asia-Pacific Is the Fastest Growing Market
DALLAS — The global plate and frame heat exchangers market is forecast to reach $5.5 billion by 2020, representing an annualized growth rate of 9.3 percent from 2015 to 2020, according to a new market research report published by MarketsandMarkets.
Europe is the biggest market for plate and frame heat exchangers globally, and has been a leader with respect to demand as well as production capacity. The region is where most of the global leaders in heat exchanger manufacturing are located. Plate and frame heat exchangers consumption in the region is estimated to grow at a compound annual growth rate (CAGR) of around 6.5 percent from 2015 to 2020. This region has a relatively slow growth rate as a result of its dominant market size and slow economic activity as compared to other regions. The demand in this region is boosted mainly due to the surging energy demand from end-user industries.