At 7.8% CAGR, North America Brazed Plate Heat Exchangers Market is Projected to be Worth US$ 580.64 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America brazed plate heat exchangers market was valued at US$ 319.41 million in 2022 and is projected to reach US$ 580.64 million by 2030, registering a CAGR of 7.8% from 2022 to 2030. Growing pharmaceutical industry and increasing focus on compact and lightweight designs are among the critical factors attributed to drive the North America brazed plate heat exchangers market growth.

Compact and lightweight brazed plate heat exchangers are more energy-efficient than traditional heat exchangers, making them a major choice for applications where energy efficiency is critical. Compact and lightweight brazed plate heat exchangers can be installed in spaces where traditional heat exchangers are unable to fit. This is important for applications in aerospace and marine industries, where space is limited. These exchangers are easy to transport and install, making them ideal for portable applications such as construction and disaster relief. Compact and lightweight brazed plate heat exchangers are used in aircraft to cool the engines and other systems, which helps to reduce the weight of the aircraft and improves fuel efficiency and performance. Similarly, these are used in ships to cool the engines and other systems that help to reduce the weight of the ship, which improves fuel efficiency and performance. In addition, compact and lightweight brazed plate heat exchangers are used in portable construction equipment, such as air compressors and generators, as well as in mobile disaster relief units to provide hot water and heating equipment for victims. Increasing technological advancements are making it possible to develop brazed plate heat exchangers that are highly compact and lightweight for various industrial applications. As the need for energy-efficient solutions continues to grow, along with technological advancements, the demand for compact and lightweight brazed plate heat exchangers is expected to increase. Therefore, the increasing focus on the development of compact and lightweight designs is anticipated to fuel the brazed plate heat exchanger market in the coming years.

On the contrary, limited availability of skilled technicians hampers the growth of North America brazed plate heat exchangers market.

Based on product, the North America brazed plate heat exchangers market is bifurcated into single circuit and multi circuit. The multi circuit segment held 69.6% market share in 2022, amassing US$ 222.35 million. It is projected to garner US$ 409.03 million by 2030 to register 7.9% CAGR during 2022-2030.

In terms of application, the North America brazed plate heat exchangers market is segmented into condenser, economizer, evaporator, and others. The evaporator segment held 51.3% share of North America brazed plate heat exchangers market in 2022, amassing US$ 163.87 million. It is anticipated to garner US$ 297.17 million by 2030 to expand at 7.7% CAGR during 2022-2030.

By end-use industry, the North America brazed plate heat exchangers market is divided into HVACR, chemical, food & beverage, power, heavy industries, IT & telecommunication, others. The HVACR segment held 37.8% share of North America brazed plate heat exchangers market in 2022, amassing US$ 120.59 million. It is projected to garner US$ 236.97 million by 2030 to expand at 8.8% CAGR from 2022 to 2030.

Based on country, the North America brazed plate heat exchangers market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.2% share of North America brazed plate heat exchangers market in 2022. It was assessed at US$ 253.04 million in 2022 and is likely to hit US$ 458.13 million by 2030, registering a CAGR of 7.7% during 2022-2030.

Key players operating in the North America brazed plate heat exchangers market are Alfa Laval AB, API Heat Transfer Inc, Chart Industries Inc, Danfoss AS, Paul Mueller Co, and Xylem Inc, among others.

• In May 2023, Alfa Laval Business Unit Brazed & Fusion Bonded Heat Exchangers announced that it will increase its production of brazed plate heat exchangers to meet increasing demand in the ongoing global energy transition.
  
  
• In April 2022, US firm Chart Industries received an order to provide equipment for the second phase of Venture Global's Plaquemines LNG export project in Louisiana. This order was for the production of six brazed aluminum heat exchanger assemblies (BAHX) and cold boxes. These were the first six of the anticipated 18 BAHX assemblies and cold boxes for the full 10 mtpa Plaquemines Phase 2 facility.
  
  
  
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