Shell & Tube Heat Exchanger Market: Overview

Heat exchanger is a mechanical device which is used for exchanging or extracting heat from hot fluid to cold fluid. These are used to transfer heat between two or more fluids. Fluids used can be single or two phase. Depending on the exchanger type, these fluids can be separated or in direct contact with the shell. Transfer of heat from one fluid to another is an operation, which is used in several chemical industries. These are commonly made of shell, which act as outer jacket for the transfer of energy and tubing’s are embedded or fabricated into the shell while manufacturing a heat exchanger. The material of construction for tubes and shell are mostly same and tubes are embedded in shell with the help of baffles.

Shell & Tube Heat Exchanger Market: Trends & Demands

The chemical industry is growing at a significant pace due to the rise in investments in research & development of emerging chemicals such as specialty chemicals, and fine chemicals. These chemicals require equipment for heat exchange application, which is fueling the demand for shell & tube heat exchangers. This, in turn, is anticipated to drive the shell & tube heat exchanger market in the near future. Rise in demand for petrochemicals, fibers, industrial gases, fertilizers, chlor-alkali, and other organic and inorganic chemicals, which in turn has led to the increase in demand for manufacturing equipment’s such as boilers, chillers, heat exchangers etc across the globe. All these factors are likely to fuel the shell and tube heat exchanger market.

Manufacturers operating in the global shell & tube heat exchanger market strive to explore new and better ways to manufacture shell & tube heat exchangers. However, volatility in prices of metals and high cost of production are likely to inhibit the shell & tube heat exchanger market during the forecast period.

Shell & Tube Heat Exchanger Market: Key Segmentations

Based on the flow type, the global shell & tube heat exchanger market can be segmented into counter current, co-current, cross flow, and hybrid. The counter current segment is likely to expand at a rapid pace during the forecast period, as counter current flow allows the exchange of  wide range of temperature for fluids and is highly efficient than other three flow types.

In terms of application, the global shell & tube heat exchanger market can be divided into chemicals, petrochemicals, oil & gas, food & beverages, pulp & paper, and others. The chemicals segment is projected to expand at a significant pace during the forecast period due to the consistent usage of shell & tube heat exchangers for manufacturing various chemicals such as fertilizers and specialty chemicals across the globe.

Shell & Tube Heat Exchanger Market: Regional Outlook

Based on region, the global shell & tube heat exchanger market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The shell & tube heat exchanger market in Asia Pacific is estimated to expand at a rapid pace due to the rise in per capita income of people across the region. Increase in per capita income is boosting the spending power of consumers in the region. This, in turn, is estimated to propel the demand for chemical products during manufacturing of food & beverages and oil & gas in Asia Pacific.

Shell & Tube Heat Exchanger Market: Key Players

Prominent players operating in the global shell & tube heat exchanger market include Kelvion Holdings GmbH, Alfa Laval AB, HRS Heat Exchangers, Brask Inc., Koch Heat Transfer Company, Thermax Limited, SPX Corporation, API Heat Transfer Inc., and Southern Heat Exchanger Corporation. These players engage in research & development activities, strategic alliances, and mergers & acquisitions to gain larger share of the shell & tube heat exchanger market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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