The Future of Brazed Plate Heat Exchangers: Market Insights, Growth Opportunities, and Technological Advancements
The global brazed plate heat exchangers market size is expected to reach USD 1.62 billion by 2030, registering a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. Rising product demand, particularly on account of cost-effectiveness, lower carbon footprints, and higher energy efficiency is anticipated to drive the industry. According to Centrum Institutional Research, investments in the chemical industry have increased 2.5 times in the last decade, rising to 6,100 crores in FY22. Brazed plate heat exchangers are used in the chemical manufacturing process to cool, heat, and mix chemicals. The chemical industry’s rapid expansion is projected to be a major driver for market growth. In industrial power generation engines, lubricating oil is required to optimize performance, protect moving parts, and provide optimal operating conditions for internal components. A brazed plate heat exchanger is used for activation units and ...