Plate and Frame Heat Exchanger Companies

The plate & frame heat exchanger market is projected to reach USD 10.50 billion by 2030 from USD 7.21 billion in 2025, at a CAGR of 7.8% during the forecast period. Plate & frame heat exchangers are primarily in demand as an energy-efficient medium for heat transfer in industries such as HVAC, chemical processing, food & beverage, and power generation. These types of exchangers are also considered excellent for applications where minimal space and high thermal efficiency are the top priority. As industrialization is mainly taking strides in emerging nations, the need for excellent heat management systems is propelled further. On the other hand, with stricter environmental norms, industries are pushed toward the adoption of technologies that eventually reduce energy consumption and emissions, leading to a further boost to this market. Modern approaches to plate & frame heat exchanger design and materials are improving the durability and efficiency of these exchangers, resulting in their expanded applications in high-pressure and high-temperature environments.

Plate & Frame Heat Exchanger Companies

The plate & frame heat exchanger market is dominated by key manufacturers including Alfa Laval (Sweden), Danfoss (Denmark), Kelvion Holding GmbH (Germany), SPX Flow (US), XYLEM (US), API Heat Transfer (US), H. Guntner (UK) LTD. (UK), Boyd Corporation (US), Johnson Controls (Ireland), and Wabtec Corporation (US), among others. These players have undertaken various product launches, deals, and expansions from January 2019 to May 2025, to expand market share and global reach.

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In March 2025, SSAB and Outokumpu, both collaborated with Alfa Laval to incorporate low-emission steel in plate heat exchangers of Alfa Laval. They also used SSAB Zero steel and Outokumpu Circle Green stainless steel. This partnership helped Alfa Laval in reducing the carbon footprint of the product.

In December 2024, Wabtec Corporation's acquisition of Bloom Engineering bolstered its Heat Transfer and Energy Solutions portfolio, enhancing its expertise in industrial heating and combustion systems. This strategic acquisition positions Wabtec for growth in high-efficiency thermal management, perfectly aligning with the rising global demand for energy-efficient solutions such as plate and frame heat exchangers across various industrial sectors. The integration is anticipated to boost operational efficiency and sustainability, offering lasting benefits to clients in the metal, energy, and process industries.

ALFA LAVAL (Sweden) is a global leader in heat transfer, separation, and fluid handling solutions, with a wide portfolio of heat exchangers across its Energy Division. Its technologies span a variety of systems, including its plate and frame, shell and tube, and brazed plate heat exchangers that are sold under well-recognized brands such as Aalborg, Cetetube, ViscoLine, and AlfaCond. ALFA LAVAL operates in over 100 countries and has approximately 40 manufacturing plants strategically placed around the world. It also provides several services, such as system installation, maintenance, and repair. Purposeful innovation is one of the core lines of measure to which ALFA LAVAL looks for success. In 2023, ALFA LAVAL invested USD 156 million in R&D and has seasoned international test centers in Sweden and Denmark. The company has a successful track record of developing new products through in-house engineering as well as partnerships with other manufacturers like JOYMOUNT, and development providers such as SSAB and Outokumpu to gain distributor status. ALFA LAVAL has a long-standing goal to establish a recognized portfolio of products, and a customer base suited for manufacturing capacity by incorporating new customers via partnerships, as can be seen in its March 2025 partnership with SSAB and Outokumpu. Through this strategic partnership, ALFA LAVAL was able to use low-carbon SSAB Zero steel as well as Outokumpu Circle Green in its plate heat exchangers, resulting in the ability to lower the carbon impact by up to 60 percent. ALFA LAVAL is also ramping up its production of brazed plate heat exchangers in Italy, China, Sweden, and the US as it responds to the growing demand and global energy transition. Post-pandemic adversity notwithstanding, ALFA LAVAL continues to be a clear leader in the market.

Danfoss (Denmark) is a leading supplier of energy-efficient heating, cooling, and power management solutions, providing a full range of heat exchangers for industrial processes, refrigeration, and HVAC. As an example of Danfoss's green agenda, the Climate Solutions segment offers products, such as compressors, valves, condensers, pressure pumps, and heat exchangers in both, plate & frame and microchannel form factors. Danfoss has 97 production facilities in 20 countries and sales in more than 100 countries, which provides the company with an expansive global footprint. Danfoss has 34 specialized Climate Solutions facilities in 15 countries, and R&D is conducted in 23 countries. In addition, Danfoss has a strong market position in Europe and China, is reasonably well positioned in North America, and is looking to expand in the Asia Pacific, Middle East & Africa, and South America. The acquisition of Sondex provided great depth to the plate & frame heat exchanger business; however, Danfoss's strong global distribution and manufacturing network provides it with the ability to manufacture products locally at a low cost. The compatibility of Danfoss's compressors and heat pumps with the emerging trends of decarbonization and electrification allows for significant reductions in CO2 emissions. In 2024, the company invested approximately 5% of sales into R&D and sustainable innovation, wherein product development is one of the primary drivers. The acquisition of BOCK GmbH (a German CO2 compressor manufacturer) provides Danfoss with higher capacity for systems integration and the heat exchanger product line, which can be manufactured using low GWP refrigerants that are compatible across its entire product portfolio.

Market Ranking

The plate & frame heat exchanger market is highly competitive, with the five major players collectively holding 40-45% of the total market share. Alfa Laval, Danfoss, Kelvion, SPX FLOW, and Xylem maintain strong shares of the plate & frame heat exchanger market, partly due to their global scope, wide variety of products, and emphasis on innovation and sustainability. Overall, Alfa Laval's comprehensive product portfolio and firm commitment to research & development, supported by its considerable investments in improving product performance and sustainability, are major contributors to its continued strength in the overall heat exchanger market. Additionally, the only heat exchanger manufacturer with global manufacturing and service capabilities, it has a broad applicability range across a variety of industries, from marine and pharmaceuticals to energy. Danfoss' Climate Solutions segment focuses on energy efficiency and decarbonization - areas with the greatest growth potential and appeals to customer desire for sustainable applications, coupled with its acquisition of Sondex, a manufacturer of other plate heat exchangers, it grew in terms of capabilities in manufactured plate heat exchangers. Its wider footprint is able to support localized manufacturing and fast delivery to a strong choice supplier in this segment. Kelvion is known for its selection of heat exchangers, including specialized products for the power generation and petrochemical industries. Like Danfoss, it has a strong global footprint, and its focus on customer value and service makes for a good supplier. SPX FLOW has a very strong reputation in the food and beverage and pharmaceutical applications with hygienically designed plate heat exchangers vital in quality-sensitive applications. The five companies all possess strong manufacturing abilities, R&D investments, and distribution networks, with which they can satisfy peer-reliable, efficient, and sustainable plate & frame heat exchanger solutions for a wide range of industries globally.

Related Reports:

Plate & Frame Heat Exchanger Market by Type (Gasketed, Welded, Brazed), Application (HVAC & Refrigeration, Chemical, Petrochemical, Oil & Gas, Food & Beverage, Power Generation, Pulp & Paper), Region - Global Forecast to 2030