Global Printed Circuit Heat Exchanger Market Size To Grow At A CAGR Of 4.60% In The Forecast Period Of 2023-2028
The ‘Global Printed Circuit Heat Exchanger Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global printed circuit heat exchanger market, assessing the market on the basis of its segments like materials, technology, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Printed Circuit Heat Exchanger Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.60%
Growing industrialisation in the developing countries is fuelling the demand and use for printed circuit heat exchangers that are used in industries worldwide for various purposes. These include heating, processing of the upstream hydrocarbon, floating production storage, offloading floating vessels, petrochemical, and for floating liquefied natural gas operations. They are also used for cooling purposes in order to ensure that pieces of equipment do not overheat.
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Printed circuit heat exchangers are attracting attention from a number of end users owing to their properties such as being lightweight, high heat transfer, extreme endurance to a range of temperatures and pressures, small volume, and compactness. Due to its economic and environmental advantages such as production of negligible or less pollution and use of less energy, the demand for efficient heat energy technology is increasing, fuelling the growth of the printed circuit heat exchanger market.
Increasing investments by the market players in industries such as chemicals, petrochemicals, HVAC, gas processing, and power plants is subjected to contribute to the growth of the printed circuit heat exchanger market. Further, heat exchangers are used for a number of applications in chemical processing, production of industrial gases, and offshore energy production, among others, increasing the demand from such industries.
Printed Circuit Heat Exchanger Industry Definition and Major Segments
A printed circuit heat exchanger is defined as a type of heat exchanger that is used for processing applications and is based on diffusion bonding and chemical etching technologies. They are known widely for their properties such as robustness, compactness, and high number of transfer units. They are used for various applications that require high performance and efficiency.
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Based on materials, the market is segmented into:
• Steel and Stainless Steel
• Nickel and Nickel Based Alloys
• Titanium and Titanium Alloys
On the basis of technology, the market is bifurcated into:
• Chemical Etching
• Diffusion Bonding
Based on application, the market is divided into:
• Chemical Processing
• Oil and Gas
• Power Generation
On the basis of region, the market is classified into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Printed Circuit Heat Exchanger Market Trends
The key trends in the global printed circuit heat exchanger market include the technological innovations and advancements such as the development of diffusion bonded printed circuit heat exchangers. They are believed to provide better and efficient heat transfer and also perform better in corrosive environments and in conditions of extreme temperature and pressure. These improvements are expected to gain popularity among end users.
The improvements in the production of printed circuit heat exchangers is reducing their overall cost. The unit size reduces due to excess pipework, associated equipment, and elimination of frames which thereby reduces costs, fuelling the demand for the printed circuit heat exchangers.
North America is anticipated to hold a large share in the printed circuit heat exchanger market owing to the rising demand from petrochemicals, chemicals, and oil and gas industries. Governments in the region are focussing on initiatives and undertakings for high intensity thermal exchange which is also contributing to the growth of the market. Europe is expected to grow in the forecast period in terms of revenue due to growing use of PCHE in refineries and the chemical industry.
Key Market Players
The major players in the global printed circuit heat exchanger market report are:
• Kobe Steel Ltd.
• Kelvion Holding GmbH
• Meggitt PLC
• Alfa Laval Inc.
• DongHwa Entec Co., Ltd
• Tanktech Co. Ltd.
• Precision Micro Ltd.
• VPE Thermal LLC
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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