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The sanitary gasketed plate heat exchangers market is estimated to grow at a CAGR of 5.97% between 2022 and 2027. The size of the market is forecast to increase by USD 772.25 million. The growth of the market depends on several factors, including the rising demand from the water and wastewater industry, the rising demand for sanitary GPHE from end-users, and the advantages of sanitary GPHEs.
This report extensively covers market segmentation by 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). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global sanitary gasketed plate heat exchangers market as a part of the global industrial machinery market. The parent, the global industrial machinery market, covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. The global industrial machinery market is expected to grow at a moderate pace. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The rising demand from the water and wastewater industry is notably driving the market growth, although factors such as the volatility in raw material prices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Sanitary Gasketed Plate Heat Exchangers Market Driver
The rising demand from the water and wastewater industry is the key factor driving the global sanitary gasketed plate heat exchangers market growth. Sanitary GPHE optimizes water temperature and increases the energy efficiency of water treatment plants. Anaerobic digestion processes for the biological stabilization of municipal sewage sludge are widely used in most sewage treatment plants. As energy costs continue to rise, new wastewater treatment plants are installing sanitary panels and spiral GPHEs to reduce energy consumption and improve operational efficiency.
Water is a critical element for manufacturing industries, such as pharmaceuticals, food and beverage, and paper and pulp. The expanding production activities in these end-user industries must comply with the stringent environmental regulations and water conservation norms framed by governing agencies. New water treatment facilities will be established to meet the rising demand for water, especially in developing economies, thereby creating significant demand for sanitary GPHEs and driving the growth potential of the global sanitary GPHE market during the forecast period
Significant Sanitary Gasketed Plate Heat Exchangers Market Trend
Growth in aftermarket sales is the primary trend in the global sanitary gasketed plate heat exchangers market growth. Gaskets have a short lifespan, which varies based on the application. They need to be replaced regularly to comply with federal or local emission regulations and to maintain process efficiency by eliminating leakages. The replacement or upgrade of gaskets contributes significantly to the growth of the global sanitary GPHE market. Gaskets are a critical component in pumps, compressors, and agitators, among others. The high pressure or high temperature of fluids, which causes even a small leak or minuscule damage, necessitates the replacement of the gasket.
A major share of the global sanitary GPHE market is based on aftermarket sales. The majority of mechanical seal replacements are like-for-like, which means that end-users that use cartridge seals will continue only to use cartridge seals. As most of these seals have a short lifespan and need frequent replacement, vendors are also focusing more on aftermarket sales. Such growth in aftermarket sales is expected to drive the growth of the global sanitary GPHE market during the forecast period.
Major Sanitary Gasketed Plate Heat Exchangers Market Challenge
Volatility in raw material prices is a major challenge to the global sanitary gasketed plate heat exchangers market growth. Furthermore, the fluctuations in the prices of raw materials for the production of sanitary GPHE are expected to hamper the market growth. Some of the raw materials required for manufacturing sanitary GPHE include stainless steel, aluminum, titanium, copper, silicone, PTFE, thermoplastic polyurethane (TPU), fluorocarbon elastomer, natural rubber, and graphite. The increase in the prices of these raw materials is expected to increase the cost of production and result in a subsequent decline in the profit margins of market vendors.
Additionally, the cost of energy consumed in the production of sanitary GPHE, along with that of transportation and secondary materials, is also increasing. The price is expected to witness a 20% increment due to the rise in energy and labor costs. Hence, such factors are expected to hinder the growth of the global sanitary GPHE market during the forecast period.
Key Sanitary Gasketed Plate Heat Exchangers Market Customer Landscape
The report includes the adoption lifecycle of the market, covering 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 Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
alfalaval.com - The company offers sanitary gasketed plate heat exchangers such as H4 and H8 for the food and beverage industry.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the food and beverage segment will be significant during the forecast period. The food and beverage industry requires optimized sanitary GPHE to ensure reliable production processes, energy efficiency, and hassle-free cleaning procedures. All these factors enable vendors in the industry to deliver safe yet competitive products. Such factors will increase the market growth during the forecast period.
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The food and beverage segment was valued at USD 825.59 million in 2017 and continue to grow by 2021. Major applications of sanitary GPHE in the food and beverage industry, such as general heating, general cooling, energy-efficient evaporation and condensation, thermal solution for sterilization, aroma recovery, pasteurization, and de-aeration. The rising demand for processed food due to the improvements in economic conditions in developed economies will result in the expansion of the food and beverage industry, thereby raising the market potential for sanitary GPHE in the industry during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is the highest contributor to the global sanitary GPHE market. The market in the region is expected to exhibit the same high growth rate during the forecast period. The food and beverage industry has been growing rapidly in APAC because the region is home to the two most populous countries in the world, namely China and India, resulting in high demand for food. The unorganized sector largely dominates the food and beverage industry in APAC.
Industrial activities in this region were severely affected in 2020 as the COVID-19 pandemic increased concerns for all governments across the region. However, as the pandemic witnessed containment, the recovery of industrial sectors picked up pace in 2021. Capital spending is expected to grow, which is expected to drive the market toward recovery during the forecast period. In APAC, the growing demand for food and beverages and other industrial goods is anticipated to revive the growth of the regional sanitary GPHE market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by 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).
Sanitary Gasketed Plate Heat Exchangers Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.97% |
Market growth 2023-2027 |
USD 772.25 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.14 |
Regional analysis |
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, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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