Plate Fin Heat Exchanger Market Size, Share & Trends Estimation Report By Type (Plain, Perforated, Serrated, By Application (Residential, Industrial, Commercial, By Region, And Segment Forecasts, 2023 - 2030
The Global Plate Fin Heat Exchanger Market Is Expected To Grow At A CAGR Of 16.7% During The Forecast Period 2023-2030.
Plate Fin Heat Exchanger Market Overview:
Plate-fin heat exchangers stand out because of how well they are made and how well they work. Plate-fin heat exchangers are made up of a stack of flat plates and corrugated fins that are brazed together. Plate fin heat exchangers are more effective than other heat exchangers because they have a high ratio of surface area to volume. They are very flexible and can control the temperature.
The increase in the production of aeroplanes and cars is the main thing that is driving this market. Plate-fin heat exchangers are used a lot in making aeroplanes because they are light for their size. These heat exchangers are used in an airplane's system to control the environment, to cool the avionics, to cool the hydraulic oil, and to heat the fuel. Manufacturers are making a lot more planes because there are more people wanting to buy them. Over the next 20 years, 38,000 planes are expected to be made around the world. The plate-fin heat exchangers will be used because production is going to go up.
Plate-Fin Heat Exchangers are used in the car business because they are small. Example automobile radiators. In 2016, the world sold 69,506,882 passenger cars. In 2017, that number rose to 70,849,456. This will lead to a rise in the number of plate-fin heat exchangers that are made. Plate-fin heat exchangers cost more than other types of heat exchangers. So, the price makes it hard to buy.
By Flow Arrangement Plate-fin heat exchangers come in three different types. They are called crossflow, counterflow, and cross-counterflow. With a counter-flow arrangement, you can get the most heat back. In counterflow, fluids move next to each other but in different directions. From a thermodynamic point of view, this is the best way for the flow to be set up. This is the best way to get the flow going. This flow is used in machines that cool and melt very cold substances. Cross-counter flow is the worst kind of flow. In this flow, one stream moves in a straight line, and the other stream moves in a zigzag pattern.
People think that this flow is going in the opposite direction around the world, but it is called cross flow. Cross-flow and cross-counterflow are both used for the same kinds of things. This flow arrangement is usually used when the rates of flow of the two fluids are different. Cross-flow is when two fluids move in opposite directions. This plan is cheap and easy to understand. Cross-Flow Arrangement is used in some car radiators and some plane heat exchangers.
Based on their shape, this Plate-Fin heat exchanger can be broken up into plain fins, wavy fins, and offset strip fins. Plain fins have both triangular and rectangular sections. Plain triangular fins are cheaper than rectangular fins, but they aren't as strong. Wavy fins are like regular fins, but they move back and forth in the opposite direction of the water. For high-pressure streams, these wave-shaped fins are used. These wavy fins are often used in the oil and gas business. Offset strip fins are used a lot in fin geometry.
By End-user, these plate-fin heat exchangers can be used in air separation plants, petrochemical industries, and air conditioning industries. In the field of cryogenics, these heat exchangers are used to separate and freeze air. The air that has been changed is cooled to a temperature where it can turn into a liquid. It uses a countercurrent flow stream arrangement. A high-pressure plate-fin heat exchanger is used to get the oxygen and nitrogen to evaporate and warm up.
During the Forecast period, North America is anticipated to be the largest market by region.
The global plate-fin heat exchanger market is split into North America, Asia-Pacific, and the Middle East based on where it is. At the end of the period being looked at, North America would have the largest share of the market. In North America, there are a lot of top-notch companies that make aeroplanes. Plate-fin heat exchangers are used a lot in these types of planes. As explained in the market dynamics, the number of planes made goes up when the demand for them goes up.
The rise in production is also due to the fact that more people are taking commercial flights around the world. Lockheed Martin is one of the most important companies that makes aeroplanes. This company made more money in 2017 than it did in 2016, when it made $47.2 billion. This rise in income shows that production has gone up. From this, we can guess that the Global Plate-Fin Heat Exchanger Market could grow a lot.
At the end of the forecast period, the Middle East Countries would have the second largest share. Most of this share would be because these countries have natural gas refineries. Because more natural gas is being used in these countries, there are more of them. Plate-fin heat exchangers are used to process and freeze natural gas in these refineries. In the middle east, Linde group has a lot of refineries. From 2016, when they made 5.736 billion euros, they made 5.876 billion euros in 2017.
|Units||Value (USD Billion)
|Growth Rate||CAGR of 16.7% from 2023 to 2030|
|Reasons to Purchase this Report||
Many companies are trying to grow by merging, buying other companies, and forming groups. These companies also grow their market by making changes to their old products and putting out new ones. Companies are trying to fix the problems with the Plate-Fin Heat Exchanger because it is the most effective heat exchanger in many ways.
Some of the most important Plate Fin Heat Exchanger Market companies are SWEP International, Kaori Heat Treatment, Xylem Inc., Diversified Heat Transfer, Advanced Industrial Components Inc, Sondex, Lytron, Triumph Group, Tranter
- In August 2022, SWEP will add the B8DW unit to its line of double-wall heat exchangers. This unit is made for applications that need better leak protection.
- In July 2019, Boyd Corporation, the world's largest provider of solutions for thermal management, environmental sealing, and protection, said it was buying Lytron, a company that specialises in thermal management for liquid cooling. This purchase fits with Boyd's plan to help customers meet their growing needs for liquid-cooled solutions by making more liquid cold plates and heat exchangers for the medical and aerospace markets and by adding more chiller system solutions to its technology portfolio.
- July 2022, Tranter have won an order to replace two existing Shell-and-Tube heat exchangers in an oil refinery in Israel. The new heat exchangers, two large NovusBloc heat exchangers in stainless steel, will be installed in the Atmospheric Distillation process of the refinery, where they will preheat the incoming crude oil with the light gas oil fraction from the Atmospheric distillation column.
- SWEP International
- Kaori Heat Treatment
- Xylem Inc.
- Diversified Heat Transfer
- Advanced Industrial Components Inc
- Triumph Group