Portland, OR, Aug. 24, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the India gasketed plate heat exchanger market was estimated at $184.7 million in 2021 and is expected to hit $276.2 million by 2031, registering a CAGR of 4.1% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $184.7 Million |
| Market Size in 2031 | $276.2 Million |
| CAGR | 4.1% |
| No. of Pages in Report | 129 |
| Segments Covered | Type, Material, and End-use. |
| Drivers | Rapid industrialization |
| Increase in demand for power generation | |
| Opportunities | Surge in its adoption across many industries |
| Restraints | Fluctuation in raw material prices |
Covid-19 scenario-
- The majority of industries across the country were forced to cease operations as a result of the strict lockdowns that were enforced in the nation. Activities related to infrastructure were disrupted due to the nationwide lockdown. This, in turn, impacted the India Gasketed plate heat exchanger market negatively.
- Manufacturers of gasketed plate heat exchangers were facing difficulties as a result of the crisis, including delayed production due to lockdown limitations, reduced worker availability, supply chain delays, and fluctuations in the price of raw materials. However, the market has already started getting back on track and is expected to recoup soon.
The India gasketed plate heat exchanger market is analyzed across type, material, and end-use. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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Based on type, the industrial GPHE segment contributed to more than two-thirds of the India gasketed plate heat exchanger market revenue in 2021, and is expected to dominate by 2031. The same segment would also showcase the fastest CAGR of 4.3% throughout the forecast period. The wide gap GPHE and semi welded GPHE segments are also assessed in the study.
Based on end-user, the food and beverage segment nearly half of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 4.5% throughout the forecast period. The other segments analyzed in the report take in chemical, HVAC and Refrigeration, and oil and gas.
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Based on material, the stainless steel segment generated more than four-fifths two-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same segment would also manifest the fastest CAGR of 4.2% during the forecast period. The other segments studied in the report include Titanium and Tungsten.
The key market players analyzed in the India gasketed plate heat exchanger market report include Danfoss, Heatex Industries Ltd., HRS Process Systems Ltd., HYDAC International GmbH, Alfa Laval, Kelvion Holding GmbH, Majestic Marine & Engineering Services, Process Engineers and Associates, Xylem, Ved Engineering, Transcon Engineers Pvt. Ltd., Delta Cooling Towers P. Ltd., Techtrans Engineers, and Tranter. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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