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Shell & Tube Heat Exchangers Market

Market Insights on Shell & Tube Heat Exchangers covering sales outlook, demand forecast & up-to-date key trends

Shell & Tube Heat Exchangers Market : Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031

Shell & Tube Heat Exchangers Market Overview

A shell and tube heat exchanger is a type of heat exchanger. It is the most common heat exchanger type in oil refineries and other large chemical processes and is suitable for higher-pressure applications. As the name suggests, this type of heat exchanger is composed of a shell with a package of tubes inside it.

In order to transfer heat between the two fluids, one fluid passes through the pipe, while another fluid flows over the tubes. The tube collection is considered a package of tubes, which may be composed of many types of tubes.

Due to increasing demand for advanced modern equipment in the petrochemical, pharmaceutical, and power generation industries, offering high performance and corrosion resistance, the Shell & Tube Heat Exchangers market is projected to expand at a significant pace.

Shell & Tube Heat Exchangers Market: Dynamics

Growing knowledge of the benefits of renewable energy sources over traditional sources has led to an expanded use of renewable energy sources, thereby driving the segment of power generation. In hydroelectric dams, shell and tube heat exchangers are used as coolers to reduce the transformers, engines, and turbines' downtime. These are excellent for applications for heat recovery, pre-heating and effluent cooling applications.

The need for successful thermal management in the storage and transport of food products is projected to be led by a growing demand for manufactured and nutritious products. Over the projected era, increasing questions about corrosion resistance in food processing facilities are likely to increase demand for shell and tube heat exchangers.

The higher raw material prices, the transfer of the end-user demand from developed countries to developing countries, and the manufacturing costs are the key constraints on the development of the market for shell and tube heat exchangers. In the area of heat exchangers, the regional market offers immense capacity and prospects.

The robust presence of oil and gas deposits is projected to have a positive effect on demand development in Brazil, Argentina, Venezuela, and Columbia.

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COVID-19 crisis impact

The ongoing crisis caused by COVID-19 pandemic has affected all industry verticals resulting in subdued capital investments, retardation of production rate and supply to end procurers. The shell & tube heat exchangers industry is no exception to this effect and is understood to undertake a significant dent in the planned growth rate in the current fiscal.

With regards to the growth trend specific to shell & tube heat exchangers market, a downturn in growth is expected to have been observed in the 3 quarters of ongoing fiscal.

The recovery of Shell & Tube Heat Exchangers towards threshold growth rate is expected to incur over next 4-6 quarters which is critically dependent on end user sentiment for new sales and procurement provided the supporting rules and policies by the regional governments.

Shell & Tube Heat Exchangers Market: Regional Outlook

Developing countries like India,China, ASEAN Countries, Brazil, Mexico, Czech Republic are identified to be prominent regional markets to create significant demand and growth in the global Shell & Tube Heat Exchangers market.This is attributed to increasing investments in the chemical and petrochemical industries in the region. Furthermore, significant growth of the end-use industries, including power generation, food & beverage, and HVAC & refrigeration.

Demand in the region is likely to be driven by increased adoption of the product in key application sectors, including chemical, petrochemical, and power generation. Europe is projected to witness moderate growth over the forecast period.

Increasing exploration and production activities in offshore areas are expected to drive the market for shell and tube heat exchangers over the forecast period. In addition, several upcoming oil and gas projects in the European region are expected to have a positive impact on market growth in the coming years.

Nikhil Kaitwade
Principal Consultant
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Chemical Segment To Be The Main Driving Factor For The Market

Due to the growing penetration of shell and tube heat exchangers, the chemical segment has led the market due to its characteristics, including simple maintenance and repair, versatile structures and high pressure operations. Many corrosion-resistant materials, including zirconium, titanium, nickel alloys, duplex stainless steel and austenitic stainless steel, are made from shell and tube heat exchangers used in the chemical industry.

In the petrochemical field, shell and tube heat exchangers are used for the heat recovery process during the isolation of oil from water and steam. In addition, these are used in petrochemical plants for various refining process applications, including evaporators, condensers, and gas scrubbing coolers.

In the petrochemical industry, shell and tube heat exchangers are expected to gain substantial demand due to their enhanced properties in a corrosive environment.

Analyst Perspective

Manufacturers working in the global heat exchanger market for shells and tubes are seeking to discover innovative and better methods of manufacturing heat exchangers for shells and tubes.

However, during the forecast era, uncertainty in metal prices and high manufacturing costs are likely to hinder the shell & tube heat exchanger market.Manufacturers are also engaged in adopting various strategies including mergers & acquisitions, new product development, diversification, and geographical expansion.

These strategies aid the companies in augmenting their market presence and catering to the changing technological demand of various end-use industries.

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Shell & Tube Heat Exchangers Market: Market Participants

List of some of the prominent market participants in Shell & Tube Heat Exchangers market are:

  • Alfa Laval
  • HRS Heat Exchangers
  • Kelvion Holding GmbH
  • API Heat Transfer
  • Brask, Inc.
  • Koch Heat Transfer Company
  • Xylem Inc
  • WCR, Inc.
  • Southern Heat Exchanger Corporation
  • Manning and Lewis
  • Mersen
  • Elanco, Inc.
  • Thermex
  • Tinita Engineering Pvt. Ltd.
  • Barriquand Technologies Thermiques

“The research report on Shell & Tube Heat Exchangersmarket presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

The Shell & Tube Heat Exchangersmarket report also contains projections using a suitable set of assumptions and methodologies. The research report on Shell & Tube Heat Exchangersmarket provides analysis and information according to market segments such as of material type, and by end-use industry.

The Shell & Tube Heat Exchangers Market report covers exhaustive analysis on

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, Italy, France, U.K, Spain, Poland, Russia)
  • South Asia (India, ASEAN, Rest of South Asia)
  • East Asia (China , Japan, South Korea)
  • Middle East and Africa (GCC Countries, South Africa, Northern Africa, Rest of MEA)
  • Oceania ( Australia, New Zealand)

The Shell & Tube Heat Exchangersmarket report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The Shell & Tube Heat Exchangersmarket report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Shell & Tube Heat Exchangersmarket report also maps the qualitative impact of various market factors on market segments and geographies.

Shell & Tube Heat Exchangers Market: Segmentation

The Shell & Tube Heat Exchangers market can be segmented based on material type, and by end-use industry.

Material Type:

  • Hastelloy
  • Titanium
  • Nickel & Nickel Alloys
  • Tantalum
  • Steel
    • Stainless Steel
    • Duplex Steel
    • Carbon Steel
    • Super Duplex Steel

End-Use Industry:

  • Power Generation
  • Petrochemicals
  • Chemical
  • Food & Beverages
  • HVAC & Refrigeration
  • Pulp & Paper
  • Others

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Nikhil Kaitwade
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Shell & Tube Heat Exchangers Market