Welded Plate & Block Heat Exchangers Market To Reach $938.9 Million By 2030

Welded Plate & Block Heat Exchangers Market Growth & Trends

The global welded plate & block heat exchangers market size is estimated to reach USD 938.9 million by 2030, registering to grow at a CAGR of 7.1% from 2025 to 2030 according to a new report by Grand View Research, Inc. The market is anticipated to be driven by the growing demand for the product in HVAC & refrigeration, power generation, and petrochemical industries, especially in emerging economies in Asia Pacific and CSA regions.

Welded plate & block heat exchangers play a significant role in enhancing heat transfer efficiency of industrial machinery. Growing demand for efficient thermal management systems with low space requirements is expected to drive the demand for plate & block heat exchangers over the forecast period.

Growth of industrial sectors including food & beverages, chemicals, pulp & paper, power generation, metal & mining, textiles, and oil & gas is leading to an increase in the requirement for highly-efficient and compact heat exchangers, which, in turn, is expected to drive the growth of the market over the forecast period.

Based on end use, HVAC & refrigeration segment is expected to be the largest segment in the global market and the trend is expected to continue over the forecast period. HVAC & refrigeration end-use segment dominated the market in 2024 owing to increasing consumer spending coupled with the growing demand for thermal management in residential and commercial establishments.

Increasing requirement for heat recovery applications in chemical, HVAC, and food & beverage sectors is expected to drive the demand for welded plate & block heat exchangers over the forecast period. Food & beverages segment was the second-largest segment in the market in 2024. Growing concerns regarding the shelf life of processed food and alcoholic beverages are expected to drive the product demand over the forecast period.

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Welded Plate & Block Heat Exchangers Market Report Highlights

• The global welded plate and block heat exchangers market size was valued at USD 633.0 million in 2024 and is expected to grow at a CAGR of 7.1% from 2025 to 2030.

• The HVAC & refrigerators segment dominated the market with a revenue share of 28.0% in 2024, driven by urbanization and heightened awareness of indoor air quality.

• The North America welded plate and block heat exchangers market held a significant revenue share in 2024, driven by the presence of major industries such as oil & gas, chemical processing, and power generation.

Welded Plate & Block Heat Exchangers Market Segmentation

Grand View Research has segmented the global welded plate & block heat exchangers market based on end-use and region:

Welded Plate & Block Heat Exchangers End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Chemical

• Food & Beverages

• HVAC & Refrigerators

• Oil & Gas

• Power Generation

• Pulp & Paper

• Others

Welded Plate & Block Heat Exchangers Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• CSA

  • Brazil

• Argentina

  • MEA

  • UAE

  • KSA

List of Key Players in Welded Plate & Block Heat Exchangers Market

• ALFA LAVAL

• Tranter Inc.

• Kelvion Holding GmbH

• Nexson

• SHINEHEAT CORP

• AIC Inc.

• API Heat Transfer

• Shanghai Heat Transfer Equipment Co., Ltd.

• HFM

• Erivac Konsult AB