PUBLISHER: Grand View Research | PRODUCT CODE: 1654315
PUBLISHER: Grand View Research | PRODUCT CODE: 1654315
The global welded plate & block heat exchangers market size is estimated to reach USD 938.9 million by 2030, registering to grow at a CAGR of 7.1% from 2025 to 2030 according to a new report by Grand View Research, Inc. The market is anticipated to be driven by the growing demand for the product in HVAC & refrigeration, power generation, and petrochemical industries, especially in emerging economies in Asia Pacific and CSA regions.
Welded plate & block heat exchangers play a significant role in enhancing heat transfer efficiency of industrial machinery. Growing demand for efficient thermal management systems with low space requirements is expected to drive the demand for plate & block heat exchangers over the forecast period.
Growth of industrial sectors including food & beverages, chemicals, pulp & paper, power generation, metal & mining, textiles, and oil & gas is leading to an increase in the requirement for highly-efficient and compact heat exchangers, which, in turn, is expected to drive the growth of the market over the forecast period.
Based on end use, HVAC & refrigeration segment is expected to be the largest segment in the global market and the trend is expected to continue over the forecast period. HVAC & refrigeration end-use segment dominated the market in 2024 owing to increasing consumer spending coupled with the growing demand for thermal management in residential and commercial establishments.
Increasing requirement for heat recovery applications in chemical, HVAC, and food & beverage sectors is expected to drive the demand for welded plate & block heat exchangers over the forecast period. Food & beverages segment was the second-largest segment in the market in 2024. Growing concerns regarding the shelf life of processed food and alcoholic beverages are expected to drive the product demand over the forecast period.