North America Plate & Frame Heat Exchangers Market Size, Share, and COVID-19 Impact Analysis, By Product (Brazed, Gasketed, Welded, and Others), By End User (Chemical, Oil & Gas, Food & Beverage, HVAC & refrigeration, Power Generation, Pulp & Paper, and Others), and North America, Plate & Frame Heat Exchangers Market Insights, Industry Trend, Forecasts to 2035

North America Plate & Frame Heat Exchangers Market Insights Forecasts to 2035

• The North America Plate & Frame Heat Exchangers Market Size Was Estimated at USD 1277.3 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 5.48% from 2025 to 2035
• The North America Plate & Frame Heat Exchangers Market Size is Expected to Reach USD 25.14 Million by 2035

According to a research report published by Spherical Insights & Consulting, The North America Plate & Frame Heat Exchangers Market  Size is anticipated to reach USD 25.14 Million by 2035, growing at a CAGR of 5.48% from 2025 to 2035. The growing industrialization, energy efficiency requirements, HVAC growth, integration of renewable energy sources, and strict environmental regulations that promote advanced thermal management systems across many industries create opportunities for the North America plate and frame heat exchangers market.  

Market Overview

The regional industrial segment devoted to the manufacture, distribution, and usage of plate and frame heat exchangers in North America which includes the US, Canada, and Mexico is known as the North America plate and frame heat exchangers market. North America Plate and frame heat exchangers are specialized devices that use metal plates to optimize surface area and thermal efficiency in order to transfer heat between two fluids without mixing them. The plate and frame heat exchangers market includes a number of industries, including chemicals, oil and gas, food and beverage processing, power generation, HVAC, and pharmaceuticals. The market is growing as a result of stricter environmental restrictions, industrial expansion, and rising demand for energy-efficient equipment. The growing need for effective heat transfer solutions across sectors is driving the market. These heat exchangers are widely used in power generation, food and beverage, chemical processing, and HVAC due to their small size and great thermal efficiency. One of the main factors driving the North America plate and frame heat exchangers market is the growing need for energy-efficient thermal systems in commercial, industrial, and HVAC applications.

Report Coverage

This research report categorizes the market for North America plate and frame heat exchangers market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America plate and frame heat exchangers market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America plate and frame heat exchangers market. 

Driving Factors

The increasing use of plate and frame heat exchangers in HVAC and refrigeration applications contributes to the North America plate and frame heat exchangers market. One of the main factors driving the growth of the plate and frame heat exchanger market is the rising need for HVACR (heating, ventilation, air conditioning, and refrigeration). The increasing usage of plate and frame heat exchangers in wastewater treatment and renewable energy applications is another important factor. Growth in HVAC, food processing, and electricity generation all contribute to adoption. Stricter international laws governing emissions and energy use also support North America plate and frame heat exchangers market.   

Restraining Factors

The market for plate and frame heat exchangers in North America is hampered by considerations like high initial installation costs, complicated maintenance, fouling problems, and restricted applicability for fluid applications requiring high pressure or viscosity.  

Market Segmentation

The North America plate and frame heat exchangers market share is classified into product and end user.  

• The gasketed segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.  

The North America plate and frame heat exchangers market is segmented by product into brazed, gasketed, welded, and others. Among these, the gasketed segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The market for gasketed plate heat exchangers is driven by their adaptability, low maintenance costs, and applicability for a variety of industrial uses. They are frequently used in industries like chemical processing, food and beverage, and electricity for effective thermal management.  

• The HVAC & refrigeration segment held a largest share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The North America plate and frame heat exchangers market is segmented by end user into chemical, oil & gas, food & beverage, HVAC & refrigeration, power generation, pulp & paper, and others. Among these, the HVAC & refrigeration segment held a largest share in 2024 and is expected to grow at a significant CAGR during the forecast period. The HVAC and refrigeration industries play a critical role in maintaining indoor climate control, cutting operating costs, and increasing energy efficiency. Adoption is also fueled by the swift urbanization and the emergence of smart building technology.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America plate and frame heat exchangers market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.  

List of Key Companies

• WCR
• HFM
• Tranter
• Kelvion
• SPX FLOW
• Alfa Laval AB
• Danfoss A/S
• Nexson Group
• Hisaka Works
• API Heat Transfer
• Gooch Thermal Systems
• Others

Key Target Audience 

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In July 2025, Alfa Laval announced that the USD 865.8 million purchase of Fives Energy Cryogenics had been completed. This acquisition strengthens Alfa Laval's technological capabilities while maintaining Thermowave's specialized worldwide operations. It first launched as a distinct unit inside Alfa Laval's Energy Division and expanded its LNG, hydrogen, and carbon capture offering. 

Market Segment

This study forecasts revenue at North America, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the North America plate and frame heat exchangers market based on the below-mentioned segments:

North America Plate & Frame Heat Exchangers Market, By Product  

• Brazed
• Gasketed
• Welded

North America Plate & Frame Heat Exchangers Market, By End User

• Chemical
• Oil & Gas
• Food & Beverage
• HVAC & refrigeration
• Power Generation
• Pulp & Paper
• Others