NEW YORK, Feb. 18, 2016 /PRNewswire/ --
"Increasing investment in chemicals, petrochemicals and oil & gas, and HVAC industries is a prime factor for the growth of shell & tube heat exchangers market"
The global shell & tube heat exchangers market size (2015–2020) is estimated to reach USD 7.05 billion by 2020 at a CAGR of 4.98%. Growth in chemicals industry is one of the major factors for the growth of shell & tube heat exchangers market. Shell & tube heat exchangers have the following properties: high efficiency and heat transfer capacity, low pressure drops, ease of repair, abrasive wear protection that diminishes the erosion, price advantage, and excellent drainage properties. These unique properties makes it a valuable heat exchanger for various applications and drives the growth of shell & tube heat exchangers market.
"Chemicals is the largest application of shell & tube heat exchangers"
Shell & tube heat exchangers are used in various applications such as chemicals, petrochemicals and oil & gas, HVAC & refrigeration, food & beverages, power generation, pulp & paper and others. In 2015, the chemicals segment accounted for the largest market share among all the applications, in terms of value, followed by petrochemicals and oil & gas, HVAC & refrigeration, and power generation. Among all the applications, chemicals is estimated to register the highest CAGR between 2015 and 2020.
"Rising demand from Europe is the major driver for shell & tube heat exchangers market"
In 2015, Europe is estimated to account for the largest market share, in terms of value, and is estimated to remain the market leader in next 5 years. High purity standards and stringent environmental regulations and surging energy demand in this region drive the shell & tube heat exchangers market on a very large scale. Germany led the demand for shell & tube heat exchangers due to increased demand for chemicals in the last 2–3 years. Other emerging economies, such as India and Brazil are the markets which are projected to grow rapidly.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 - 37 %, Tier 2 – 50 % and Others - 13 %
- By Designation - C level - 50%, Director level - 31%, Others - 19%
- By Region - North America - 38%, Europe - 36%, Asia-Pacific - 25%, RoW – 6%
The key companies profiled in this market research report are Alfa Laval AB (Sweden), HRS Heat Exchangers (U.K.), Standard Xchange (U.S.), SPX Corporation (U.S.), Kelvion Holdings GmbH (Germany), Southern Heat Exchanger Corporation (U.S.), Manning and Lewis (U.S.), Koch Heat Transfer Company (U.S.), Hughes Anderson Heat Exchangers Inc. (U.S.), and API Heat Transfer Inc. (U.S.)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the shell & tube heat exchangers market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.
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