Sanitary gasketed plate heat exchangers market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio
NEW YORK, Feb. 2, 2023 /PRNewswire/ -- According to Technavio, the global sanitary gasketed plate heat exchangers marketsize is estimated to grow by USD 772.25 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.97% during the forecast period. APAC will account for 38% of the market's growth during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 1978.40 million.For more Insights, Request a sample report
Global Sanitary gasketed plate heat exchangers market - Five Forces The global sanitary gasketed plate heat exchangers market is fragmented, and the five forces analysis covers?
Bargaining Power of Buyers
The threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
Threat of Substitutes
Interpretation of porter's five models helps to strategize the business, for entire details ? buy the report!
Global sanitary gasketed plate heat exchangers market ? Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global sanitary gasketed plate heat exchangers market - Segmentation assessment
Segment Overview Technavio has segmented the market based on application (food and beverage, dairy, biotech and pharmaceutical, home and personal care, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The food and beverage segment will grow at the highest rate during the forecast period. This is due to the increased demand for processed food brought on by improved economic conditions in developed economies. Sanitary GPHE is widely used in the food and beverage industry for various applications such as general heating, general cooling, energy-efficient evaporation and condensation, thermal solution sterilization, fragrance recovery, pasteurization, and deaeration. The use of sanitary GPHE in the food and beverage industry allows for the efficient and safe transfer of heat, which is essential for the production of high-quality food and beverages. This trend will lead to the growth of the food and beverage segment during the forecast period.
Geography overview By geography, the global sanitary gasketed plate heat exchangers market is segmented into APAC, North America, Europe, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global sanitary gasketed plate heat exchangers market.
APAC will account for 38% of the market's growth during the forecast period. This is due to the high demand for food in the region, particularly in the two most populous nations, China and India. The food and beverage market in APAC has been expanding rapidly, driven by an increasing population and rising disposable income. In APAC, the food and beverage business is primarily dominated by the unorganized sector, with many small and medium-sized business enterprises (SMEs) present in the region. With the growth of the e-commerce industry, SMEs are able to cater to a larger consumer base, which in turn drives the demand for sanitary GPHE in the food and beverage industry during the forecast period.
Global sanitary gasketed plate heat exchangers market ? Market dynamics
Key factor driving market growth
The rising demand from the water and wastewater industry is the key factor driving the global sanitary gasketed plate heat exchangers market growth.
For manufacturing sectors like medicines, food and beverage, and paper and pulp, water is a crucial element. The rising manufacturing operations in these end-user industries must comply with the strict environmental laws and water conservation standards established by governing agencies.
In order to meet the growing demand for water, particularly in developing economies, more water treatment facilities will be established. This will significantly increase the need for sanitary GPHEs and boost the growth potential of the market during the forecast period.
Leading trends influencing the market
Growth in aftermarket sales is the primary trend in the global sanitary gasketed plate heat exchangers market growth.
Depending on the application, gaskets have a short lifespan. To maintain process efficiency by stopping leaks and to comply with federal or local emission requirements, they must be updated on a regular basis.
Vendors are concentrating more on aftermarket sales as most of these seals have a short lifespan and require frequent replacement.
Additionally, technological advances in the design of sanitary GPHE and the developing chemical industry in China and India are expected to drive the growth of the global sanitary GPHE market during the forecast period.
Major challenges hindering the market growth
Volatility in raw material prices is a major challenge to the global sanitary gasketed plate heat exchangers market growth.
It is anticipated that the market expansion will be hampered by changes in the price of the raw materials used to make sanitary GPHE. The cost of production is anticipated to rise due to the increase in the price of these raw materials, which will therefore lower vendors' profit margins.
The price of transportation, secondary materials, and the energy used in the manufacturing of hygienic GPHE are all rising. Furthermore, factors like high market competition and stringent regulations and policies are expected to hinder the growth of the global sanitary GPHE market during the forecast period.
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APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 38%
Key countries
US, Canada, China, India, and Germany
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Alfa Laval Corporate AB, API Heat Transfer Inc., Danfoss AS, Delta T Heat Exchangers, Hisaka Works Ltd., HRS Process Systems Ltd., KAORI HEAT TREATMENT Co. Ltd., Kelvion Holding GmbH, onda SPA, Paul Mueller Co. Inc., Process Engineers and Associates, Southwest Thermal Technology Inc., SPX FLOW Inc., Techtrans Engineers, Tranter, Varalka Engineers Pvt. Ltd., Ved Engineering, Wenzhou Ace Machinery Co. Ltd., Wuxi Bes Heat Exchangers Co. Ltd., and Xylem Inc.
Market dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization purview
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Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 06: Executive Summary ? Chart on Incremental Growth
Exhibit 07: Executive Summary ? Data Table on Incremental Growth
Exhibit 08: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 09: Parent market
Exhibit 10: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 13: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 161: Validation techniques employed for market sizing
Exhibit 162: Information sources
12.5 List of abbreviations
Exhibit 163: List of abbreviations
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