At 7.3% CAGR, Middle East & Africa Brazed Plate Heat Exchangers Market is Projected to be worth US$ 169.20 million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa brazed plate heat exchangers market was valued at US$ 95.96 million in 2022 and is projected to reach US$ 169.20 million by 2030, registering a CAGR of 7.3% 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 Middle East & Africa brazed plate heat exchangers market growth.

The pharmaceutical industry has strict requirements for sterility and temperature control in its manufacturing processes. Brazed plate heat exchangers are important for these applications because they are hermetically sealed and can be used to heat and cool fluids to precise temperatures. Brazed plate heat exchangers are considered highly efficient and reliable at transferring heat. It is widely used in the pharmaceutical industry, where heat transfer is used in a variety of processes, such as distillation, crystallization, and drying. Brazed plate heat exchangers are available in various sizes and configurations, making them versatile and scalable solutions for the pharmaceutical industry. It is crucial as pharmaceutical companies need to be able to adjust their production capacity to meet demand easily. Brazed plate heat exchangers are utilized to heat and cool sterile fluids such as water, saline, and buffers. These fluids are used in a variety of pharmaceutical manufacturing processes, such as the production of injectables and sterile liquids. Also, brazed plate heat exchangers can be used to sterilize equipment such as bioreactors, pipelines, and tanks. It helps to prevent the contamination of pharmaceutical products. These heat exchangers are used in the manufacturing of vaccines to heat and cool the culture medium in which the vaccine virus is grown.

Furthermore, over the years, several countries have experienced significant demand for drugs, and the trend is rapidly increasing, propelling pharmaceutical companies to increase their production and sales. The demand for generic drugs is more important than the counterparts, i.e., the brand name drugs, owing to lower cost with the same chemical composition. This is leading to the development of new and innovative manufacturing processes, which often require the use of brazed plate heat exchangers. Hence, the growing pharmaceutical industry is a key factor driving the market for brazed plate heat exchangers.

On the contrary, limited availability of skilled technicians hampers the growth of the Middle East & Africa brazed plate heat exchangers market.

Based on product, the Middle East & Africa brazed plate heat exchangers market is bifurcated into single circuit and multi circuit. The multi circuit segment held 64.3% market share in 2022, amassing US$ 61.65 million. It is projected to garner US$ 110.20 million by 2030 to register 7.5% CAGR during 2022-2030.

In terms of application, the Middle East & Africa brazed plate heat exchangers market is segmented into condenser, economizer, evaporator, and others. The evaporator segment held 48.6% share of Middle East & Africa brazed plate heat exchangers market in 2022, amassing US$ 46.66 million. It is anticipated to garner US$ 82.68 million by 2030 to expand at 7.4% CAGR during 2022-2030.

By end-use industry, the Middle East & Africa brazed plate heat exchangers market is divided into HVACR, chemical, food & beverage, power, heavy industries, IT & telecommunication, others. The HVACR segment held 40.4% share of Middle East & Africa brazed plate heat exchangers market in 2022, amassing US$ 38.81 million. It is projected to garner US$ 74.99 million by 2030 to expand at 8.6% CAGR from 2022 to 2030.

Based on country, the Middle East & Africa brazed plate heat exchangers market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 28.7% share of Middle East & Africa brazed plate heat exchangers market in 2022. It was assessed at US$ 27.55 million in 2022 and is likely to hit US$ 45.46 million by 2030, registering a CAGR of 6.5% during 2022-2030.

Key players operating in the Middle East & Africa brazed plate heat exchangers market are Alfa Laval AB, Danfoss AS, 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 February 2022, Alfa Laval launched the new Alfa Laval AC540 brazed plate heat exchanger at its first online net-zero launch event, where it showcased new, cutting-edge thinking in energy-efficiency, clean energy, and circular-economy solutions.
  
  
  
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