The global shell & tube heat exchangers market size is
anticipated to reach USD 8.1 billion by 2025, exhibiting a CAGR of 6.1% over
the forecast period, according to a new report published by Grand View
Research, Inc. The market is anticipated to be driven by the ascending demand
for shell and tube heat exchangers in chemical, power generation, and
petrochemical industries, specifically in the emerging economies in Asia
Pacific and CSA.
Shell and tube heat exchangers play a
significant role in enhancing the heat transfer efficiency of industrial
machinery. Rising demand for efficient thermal management systems is expected
to boost the consumption of these exchangers over the forecast period. Growing
industrial sectors including food & beverages, chemical, pulp & paper,
power generation, metal & mining, textiles, and petrochemicals are expected
to result in an increase in the requirement for highly efficient and compact
heat exchangers. This, in turn, is projected to drive the market for shell and
tube heat exchangers over the forecast period.
Based on end use, chemical is expected to
emerge as the largest segment in the global shell and tube exchangers market
over the forecast period. The segment is expected to be valued at USD 1.8
billion by 2025. Petrochemicals end-use segment is expected to progress at the
fastest CAGR of 7.2% from 2019 to 2025. Furthermore, growing environmental
concerns regarding waste discharge from the mills are expected to propel the
demand for shell and tube heat exchangers in pulp & paper industry.
Increasing consumer spending coupled with
ascending demand for thermal management in residential and commercial
establishments is expected to drive HVAC segment over the forecast period.
Moreover, growing awareness regarding energy conservation and reduction in
energy bills is anticipated to propel the product demand in this segment.
Europe regional market accounted for a share
of 28.4% in the total market in 2018 and is expected to move ahead at a CAGR of
3.8% from 2019 to 2025. Recent developments in renewable and nuclear energy
sectors are expected to drive power generation segment in Europe. Asia Pacific
emerged as the largest regional market in 2018 and is anticipated to witness
significant growth over the forecast period. The region is projected to ascend
at a CAGR of 8.1% over the forecast period.
Browse full research report on Shell
And Tube Heat Exchangers Market:
https://www.grandviewresearch.com/industry-analysis/shell-tube-heat-exchangers-market
Further key
findings from the report suggest:
- Asia Pacific is expected to emerge as the
largest and fastest-growing regional shell & tube heat exchangers
market over the forecast period
- Rising construction projects of industrial and
commercial establishments coupled with favorable government initiatives in
India, China, and Japan to develop thermal & solar energy are expected
to drive the demand for shell and tube heat exchangers in the APAC region
- North America market for shell and tube heat
exchangers is anticipated to reach USD 1.5 billion by 2025
- CSA and MEA are expected to exhibit a growth
rate of 7.8% and 5.9%, respectively, over the forecast period. Rising
requirement for heat recovery application in petrochemical and food &
beverages sectors is projected to propel the product demand over the
forecast period.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/shell-tube-heat-exchangers-market/request/rs1
Grand
View Research has segmented the global shell & tube heat exchangers market
based on end use and regional:
Shell &
Tube Heat Exchangers End-Use Outlook (Revenue, USD Million,
2014 - 2025)
- Chemical
- Food & Beverages
- HVAC &
Refrigeration
- Petrochemicals
- Power Generation
- Pulp & Paper
- Others
Shell &
Tube Heat Exchangers Regional Outlook (Revenue, USD Million,
2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- Central & South
America
- Brazil
- Middle East and
Africa
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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