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    Shell & Tube Heat Exchangers Market Report

    Shell & Tube Heat Exchangers Market Report
    Report code - SR2049 Published On : Jul,2022 No. of Pages: 110
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    Shell & Tube Heat Exchangers Market Size, Share, Trend, Forecast, Competitive Analysis See more...

    Market Highlights

    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. 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-use 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. 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.

    Market Segments' Analysis

    Based on the 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.

    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. 

    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 in the most comprehensive way. 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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The shell & tube heat exchangers market is segmented into the following categories. 

    Shell & Tube Heat Exchangers Market, by End-Use Industry Type

    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Petrochemical & Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Food & Beverages (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • HVAC & Refrigeration (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Water & Wastewater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pharmaceuticals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine & Shipbuilding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Shell & Tube Heat Exchangers Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Italy, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

    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

    A Bird's Eye View of the Market

    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.

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