Shell & Tube Heat Exchanger Market: Overview
Heat exchanger is a mechanical gadget which is utilized for trading or separating heat from hot liquid to cold liquid. These are utilized to move heat between at least two liquids. Liquids utilized can be single or two stage. Contingent upon the exchanger type, these liquids can be isolated or in direct contact with the shell. Move of heat starting with one liquid then onto the next is an activity, which is utilized in a few compound enterprises. These are usually made of shell, which go about as external coat for the exchange of vitality and tubing’s are implanted or created into the shell while producing a heat exchanger. The material of development for cylinders and shell are for the most part same and cylinders are installed in shell with the assistance of astounds.
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.