Shell & Tube Heat Exchangers Market is segmented by End-Use Industry Type (Oil & Gas, Petrochemical & Chemical, Food & Beverages, Power Generation, HVAC & Refrigeration, Water & Wastewater, Pharmaceuticals, Marine & Shipbuilding, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Shell & Tube Heat Exchangers Market is segmented by End-Use Industry Type...
The Shell & Tube Heat Exchangers Market is estimated to grow at a healthy CAGR of 4.5% during the forecast period, to reach a value of US$ 4.3 Billion in 2027.
Shell & tube heat exchangers are among the most popular heat exchanger types because of their simple design and exceptionally efficient heat exchange rate. They are made up of a series of tubes that are housed inside the shell. The heat exchanger is designed in such a way that one fluid flows through the smaller tubes, whereas another flows around it. The fluids can be liquids or gases on either the shell or tube sides. The performance of major demand generators, such as petrochemical & chemical, power generation, HVAC, and oil & gas, has a significant impact on the demand for heat exchangers and their types.
Covid-19 Impact
The Global Shell & Tube Heat Exchangers Market suffered a precipitous decline of 12.5% in 2020 in the wake of the COVID-19 pandemic. The majority of end-user industries experienced supply chain disruption, cash flow constraints, and temporary shutdowns in manufacturing facilities, resulting in lower demand for heat exchangers.
In 2021, the market experienced growth, owing to the combined effects of recovery in production activity of the oil & gas, petrochemical & chemical, power generation, and HVAC segments, as well as the economic recovery, an abrupt increase in raw material prices, and rising investment and expansion of various projects.
Segments Analysis
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories-
By End-Use Industry Type
Oil & Gas
Petrochemical & Chemical
Food & Beverages
Power Generation
HVAC & Refrigeration
Water & Wastewater
Pharmaceuticals
Marine & Shipbuilding
Others
By Region
North America
Europe
Asia-Pacific
Rest of the World
By End-Use Industry Type
The market is segmented as oil & gas, petrochemical & chemical, food & beverages, power generation, HVAC & refrigeration, water & wastewater, pharmaceuticals, marine & shipbuilding, and others. Petrochemical & chemical is expected to remain the dominant as well as the fastest-growing industry type during the forecast period. Low cost compared to plate heat exchangers, simple design, easy maintenance, ability to withstand high pressure and temperature, and minimal pressure loss are some of the advantages of shell & tube heat exchangers that drive their demand in the petrochemical & chemical segment.
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Regional Analysis
In terms of regions, Asia-Pacific is expected to remain the largest market for shell & tube heat exchangers during the forecast period. The region is also expected to be the fastest-growing market in the post-pandemic market developments.China is the workhorse of the region, as it is one of the major producers of oil & gas, petrochemicals, and also the leading energy-producing country.
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Key Players
The supply chain of this market comprises several nodes including raw material suppliers, component manufacturers, shell & tube heat exchanger manufacturers, distributors, and OEMs/end-users. The following are the key players in the shell & tube heat exchangers market:
Alfa Laval AB
Johnson Controls International PLC
Kelvion Holdings GmbH
Danfoss (Sondex A/S)
Funke Warmeaustauscher Apparatebau Gmb
Xylem Inc.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s shell & tube heat exchangers market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Shell & Tube Heat Exchangers Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
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The shell & tube heat exchangers market is estimated to grow at a healthy CAGR of 4.5% over the next five years to reach a value of US$ 4.3 billion in 2027.
Growing investments and expansion of various industries, such as oil & gas, petrochemical, power generation, HVAC, and food & beverages, along with an increase in adoption of heat exchangers (shell & tube) due to overall safety is expected to drive the growth of the market during the forecast period.
Alfa Laval AB, Johnson Controls International PLC, Kelvion Holdings GmbH, Danfoss (Sondex A/S), Funke Warmeaustauscher Apparatebau GmbH, and Xylem Inc. are some of the major players in the market.
Asia-Pacific is estimated to remain dominant in the shell & tube heat exchangers market in the foreseen future. Increasing investments and development in the region's energy, petrochemical & chemical, oil & gas, and food & beverage industries are expected to drive the regional market growth over the next five years.
The petrochemical & chemical segment is expected to maintain its dominance in the market over the next five years. Simple design and easy maintenance, ability to withstand high pressure and temperature, and minimum pressure loss are some advantages of shell & tube heat exchangers, driving demand for shell & tube heat exchangers in the petrochemical & chemical segment.
