The plate heat exchangers market is estimated to grow at a healthy CAGR of 5.7% during the forecast period to reach a value of US$ 4.7 Billion in 2027.
In 2021, the market experienced an excellent rebound, driven by the combined effects of recovery in the economic activity and resumption of manufacturing in different industries such as oil & gas, petrochemical & chemical, and power generation. Plate heat exchangers consist of a series of parallel plates that are placed one above the other to form a series of channels through which fluids can flow. In general, these plates are corrugated to increase turbulence; hot fluid flows in one direction in alternating chambers, while cold fluid flows in true counter-current flow in the other.
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