DUBLIN – (BUSINESS WIRE) – By Material (Steel, Nickel & Nickel Alloys, Titanium, Tantalum), Application (Chemical, Petrochemical, HVAC & Refrigeration, Food & Beverage, Power Generation, Pulp & Paper) & Region – Forecast to 2027 report added to ResearchAndMarkets.com offer.
The global market for shell-and-tube heat exchangers is expected to grow from US$9.0 billion in 2022 to US$11.7 billion in 2027 at a CAGR of 5.4% from 2022 to 2027. Growing demand and growing industrialization in emerging markets are expected to open up growth opportunities for large manufacturers of shell and tube heat exchangers.
The petrochemical and oil and gas segments will rank second in terms of CAGR in the shell-and-tube heat exchanger market by value during the forecast period.
Shell and tube heat exchangers are used in the petrochemical industry for the production of alcohols, aromatics, detergents, olefins, varnishes and plastics, as well as for waste water treatment. The needs of the petrochemical industry for shell and tube heat exchangers depend on the grade of oil. Some of the main processes in the petrochemical industry that use shell-and-tube heat exchangers are syngas heaters, boiler feed water heaters, and acid gas heaters.
Steel is widely used in shell and tube heat exchangers. This material holds the largest market share for shell and tube heat exchangers. Stainless steel is well suited for shell and tube heat exchangers due to its high strength and durability, as well as its resistance to corrosion. The steel grades most preferred by manufacturers are mild steel and stainless steel.
North America is the second largest market for shell and tube heat exchangers. The United States, Canada and Mexico are the main countries in the North American market. The region has a strong industrial base. Some of the key players in the shell and tube heat exchanger market are based in the region, such as Xylem, API Heat Transfer, Koch Heat Transfer and Manning & Lewis.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other directors of innovation and technology, as well as heads of various key organizations operating in the shell and tube heat exchanger market, and information was collected from secondary studies in order to establish and verify market size of several segments.
The key players in this market are Alfa Laval AB (Sweden), HRS Heat Exchangers (UK), Kelvion (Germany), Xylem (USA), API Heat Transfer (USA), Koch Heat Transfer (USA), Thermex (UK), Manning . and Lewis (USA), Thermofin (Canada) and Mersen (France).
The report provides information on the market of shell and tube heat exchangers in key regions. It aims to estimate the market size of Shell and Tube Heat Exchangers market for the forecast period and predict the future growth of various segments based on material, application, and region. The report also includes an in-depth competitive analysis of key players in the Shell and Tube Heat Exchangers market, along with company profiles, MNM views, recent developments, and key market strategies.
In terms of insight, this research report focuses on analysis at various levels – industry analysis (industry trends), market share rankings of leading companies, and company profiles, which together compose and discuss the main views on the competitive landscape; and high growth heat exchanger segments, high growth regions, market drivers, constraints, opportunities and challenges.
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com Office Hours EDT 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours + 353-1 -416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com Office Hours EDT 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours + 353-1 -416-8900
Post time: Jan-03-2023