PUBLISHER: Grand View Research | PRODUCT CODE: 1301014
PUBLISHER: Grand View Research | PRODUCT CODE: 1301014
Shell And Tube Heat Exchanger Market Size, Share & Trends Analysis Report By Material (Hastelloy, Steel, Nickel & Nickel Alloys, Tantalum), By End-use (Power Generation, Chemical), By Region, And Segment Forecasts, 2023 - 2030
Shell And Tube Heat Exchanger Market Growth & Trends
The global shell and tube heat exchangers market size is expected to reach USD 9,200.3 million by 2030, expanding at 4.9% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing penetration of shell & tube heat exchangers in the chemicals and petrochemical industry is anticipated to expand the market growth. Furthermore, declining prices of exotic metals and escalating demand for shell & tube heat exchangers in the oil & gas industry would also surge demand over the coming years.
China's chemical industry is expected to grow by approximately 6% (y-o-y) over the coming years according to the International Monetary Fund. This is expected to boost the construction of new chemical plants, resulting in surging the demand for shell and tube heat exchangers over the forecast period.
Titanium shell & tube heat exchangers are used in a wide range of applications in chemical, power generation, petrochemical, and desalination plants. The characteristics of titanium, such as high resistance to stress corrosion in various liquids, including aqueous chlorides such as seawater or brine, wet halogens & halides, and hot acidic & highly oxidizing solutions, such as nitric acid & ferric chloride, are expected to augment its demand in shell & tube heat exchangers.
Additive manufacturing techniques are replacing traditional manufacturing methods such as welding or brazing, alignment, die-casting, milling, stamping, or a combination of methods. Additive manufacturing (AM) aids in facilitating the innovation of advanced titanium shell & tube heat exchangers. The limitations of traditional methods are rectified in AM techniques.
Traditional heat exchangers registered an enormous footprint, thus, augmenting the facility layout area and overall construction expenses of the facility. Maintenance and disassembly of the equipment result in further costs for facility owners. Shell & tube components also incur expensive maintenance costs owing to their large size and component weight.
Heat exchangers with smaller sizes and improved heat transfer efficiency have been developed in response to growing concerns about energy loss and building costs. Due to the aforementioned causes, welded spiral heat exchangers, plate & frame, shell & tube, and micro-channel heat exchangers are now more commonly utilized in end-use industries.
Key companies are strategizing to increase revenue generation, with a focus on R&D, mergers & acquisitions, and geographic expansion. For instance, in August 2022, Bell & Gossett, a brand of Xylem, announced that the company has unified ESP-Thermal, an online plate, and shell & tube heat exchanger selection program, into the Xylem ESP-Systemwize selection tool.
Shell And Tube Heat Exchanger Market Report Highlights
- The steel material segment accounted for 31.1% of the global revenue in 2022. The material is available in different varieties like stainless steel, duplex steel, carbon steel, super duplex steel, and others. Carbon steel tubes find application in condensers & heat exchangers for heat transfer and pneumatic & hydraulic tubing. Carbon steel shell & tube heat exchangers are used in various end-use industries including petrochemical, water treatment, food, nuclear, pharmaceutical, agrochemical, fine chemical, and oil & gas
- Nickel & Nickel Alloys segment is expected to witness the fastest CAGR of 5.3% over the forecast period. The nickel alloy shell & tube heat exchangers are used in the tubing of steam generators in nuclear power plants, oil & gas extraction, high-temperature aircraft systems, and desalination equipment. In addition, these heat exchangers are used for the storage and low-pressure transport of helium, oxygen, and nitrogen
- The chemical segment accounted for a dominant share of 21.9% of the global revenue in 2022. Shell & tube heat exchangers are used in the chemical processing industry (CPI) on account of their properties such as design flexibility and high corrosion resistance. Their properties provide them with the ability to handle fluids having varying levels of solids. These heat exchangers are majorly used in the production processes of sulfuric acid, nitric acid, phosphoric acid, and urea
- Asia Pacific region is anticipated to grow at the fastest CAGR of 6.0% over the forecast period. The increasing investments in the chemical sector are further expected to have a positive impact on the Asia Pacific shell & tube heat exchangers industry. Furthermore, ongoing investments in the commercial and residential construction industry are expected to drive the demand for HVAC and refrigeration over the forecast period. Shell & tube heat exchangers play a crucial role in enhancing the overall energy efficiency of a heating or cooling system
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumption
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Shell & Tube Heat Exchangers Market Variables, Trends & Scope
- 3.1. Market Segmentation & Scope
- 3.2. Penetration and Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Technology Overview
- 3.5. Regulatory Framework
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenge Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis: Shell & Tube Heat Exchangers Market
- 3.7.1. Industry Analysis - Porter's
- 3.7.1.1. Supplier Power
- 3.7.1.2. Buyer power
- 3.7.1.3. Threat of substitutes
- 3.7.1.4. The threat of new entrants
- 3.7.1.5. Competitive rivalry
- 3.7.2. PESTEL Analysis
- 3.7.2.1. Political Landscape
- 3.7.2.2. Economic Landscape
- 3.7.2.3. Social Landscape
- 3.7.2.4. Technological Landscape
- 3.7.2.5. Environmental Landscape
- 3.7.2.6. Legal Landscape
- 3.7.1. Industry Analysis - Porter's
- 3.8. Economic Mega Trend
- 3.9. Distribution Channel
- 3.10. Vendor Matrix
- 3.10.1. List of key raw material providers
- 3.10.2. List of key manufacturers
- 3.10.3. List of key service providers
Chapter 4. Shell & Tube Heat Exchangers Market: Material Estimates & Trend Analysis
- 4.1. Material Movement Analysis & Market Share, 2022 & 2030
- 4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.2. Haste Alloy
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3. Titanium
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3.2. Market estimates and forecasts, by source type, 2018 - 2030 (USD Million)
- 4.4. Nickel & Nickel Alloys
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Titanium
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6. Steel
- 4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6.2. Market estimates and forecasts, by steel type, 2018 - 2030 (USD Million)
- 4.7. Others
- 4.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Shell & Tube Heat Exchangers Market: End-use Estimates & Trend Analysis
- 5.1. End-Use Movement Analysis & Market Share, 2022 & 2030
- 5.2. Power Generation
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.3. Petrochemicals
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Chemical
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Food & Beverages
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. HVAC & Refrigerators
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.7. Pulp & Paper
- 5.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.8. Others
- 5.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Shell & Tube Heat Exchangers Market: Regional Estimates & Trend Analysis
- 6.1. Regional Movement Analysis & Market Share, 2022 & 2030
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. Macroeconomic Outlook
- 6.2.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Macroeconomic Outlook
- 6.2.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Macroeconomic Outlook
- 6.2.4.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.2. France
- 6.3.2.1. Macroeconomic Outlook
- 6.3.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Macroeconomic Outlook
- 6.3.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.4. Italy
- 6.3.4.1. Macroeconomic Outlook
- 6.3.4.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.2. China
- 6.4.2.1. Macroeconomic Outlook
- 6.4.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.3. India
- 6.4.3.1. Macroeconomic Outlook
- 6.4.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.4. Japan
- 6.4.4.1. Macroeconomic Outlook
- 6.4.4.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5. Middle East & Africa
- 6.5.1. Saudi Arabia
- 6.5.1.1. Macroeconomic Outlook
- 6.5.1.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.2. UAE
- 6.5.2.1. Macroeconomic Outlook
- 6.5.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.1. Saudi Arabia
- 6.6. Central & South America
- 6.6.1. Brazil
- 6.6.1.1. Macroeconomic Outlook
- 6.6.1.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.1. Brazil
Chapter 7. Shell & Tube Heat Exchangers Market: Competitive Analysis
- 7.1.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.1.2. Company Categorization
- 7.1.3. Participant's Overview
- 7.1.4. Financial Overview
- 7.1.5. Product Benchmarking
- 7.1.6. Company Market Positioning
- 7.1.7. Company Market Share Analysis
- 7.1.8. Company Heat Map Analysis
- 7.1.9. Strategy Mapping
Chapter 8. Company Profiles
- 8.1. Alfa Laval
- 8.2. HRS Heat Exchangers
- 8.3. Kelvion Holding GmbH
- 8.4. API Heat Transfer
- 8.5. Brask, Inc.
- 8.6. Koch Heat Transfer Company
- 8.7. Xylem Inc.
- 8.8. WCR, Inc.
- 8.9. Southern Heat Exchanger Corporation
- 8.10. Manning and Lewis
- 8.11. Elanco, Inc.
- 8.12. Mersen
- 8.13. Thermex
- 8.14. Tinita Engineering Pvt. Ltd
- 8.15. Barriquand Technologies Thermiques
List of Tables
- Table 1 Shell & tube heat exchangers market estimates and forecasts, by material, 2018 - 2030 (USD Million)
- Table 2 Shell & tube heat exchangers market estimates and forecasts, by end-use, 2018 - 2030 (USD Million)
- Table 3 U.S. Macroeconomic Outlook
- Table 4 Canada Macroeconomic Outlook
- Table 5 Mexico Macroeconomic Outlook
- Table 6 France Macroeconomic Outlook
- Table 7 Germany Macroeconomic Outlook
- Table 8 Italy Macroeconomic Outlook
- Table 9 China Macroeconomic Outlook
- Table 10 India Macroeconomic Outlook
- Table 11 Japan Macroeconomic Outlook
- Table 12 Saudi Arabia Macroeconomic Outlook
- Table 13 UAE Macroeconomic Outlook
- Table 14 Brazil Macroeconomic Outlook
- Table 15 Recent Developments & Impact Analysis, By Key Market Participants
- Table 16 Company Market Share, 2022
- Table 17 Company Heat Map Analysis, 2022
- Table 18 Key Companies undergoing expansion
- Table 19 Key Companies involved in mergers & acquisition
List of Figures
- Fig. 1 Market Segmentation & Scope
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot
- Fig. 8 Competitive Landscape Snapshot
- Fig. 9 Penetration and Growth Prospect Mapping
- Fig. 10 Value Chain Analysis
- Fig. 11 Market Dynamics
- Fig. 12 Shell & tube heat exchangers Market PORTER's Analysis
- Fig. 13 Shell & tube heat exchangers Market PESTEL Analysis
- Fig. 14 Shell & Tube Heat Exchangers Market, by Material: Key Takeaways
- Fig. 15 Shell & tube heat exchangers Market: Material Movement Analysis & Market Share, 2022 & 2030
- Fig. 16 Haste Alloy market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 17 Titanium market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Nickel & Nickel Alloys market estimates & forecasts, by source type, 2018 - 2030 (USD Million)
- Fig. 19 Tantalum market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Steel market estimates & forecasts, by source type, 2018 - 2030 (USD Million)
- Fig. 21 Others market estimates & forecasts, by source type, 2018 - 2030 (USD Million)
- Fig. 22 Shell & Tube Heat Exchangers Market, by End-Use: Key Takeaways
- Fig. 23 Shell & tube heat exchangers Market: End-use Movement Analysis & Market Share, 2022 & 2030
- Fig. 24 Power generation market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 25 Petrochemicals market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 26 Chemical market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 27 Food & Beverages market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 28 HVAC & Refrigerators market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Pulp & Paper market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 30 Others market estimates & forecasts, 2018 - 2030 (USD Million)
