The report, now available on ASDReports, "Shell & Tube Heat Exchangers Market by Application (Chemicals, Petrochemicals and Oil & Gas, HVACR, Food & Beverages, Pulp & Paper, Power Generation) and Region - Global Forecast to 2020", The shell & tube heat exchangers market size is estimated to grow from USD 5.29 Billion in 2015 to USD 7.05 Billion by 2020, at a CAGR of 4.98%. The market is driven by the surging need for energy and high investments in chemicals and petrochemicals and oil & gas industries. Among all regions considered, RoW and Asia-Pacific are estimated to witness a strong growth in the next five years. Also, the demand across these regions is reinforced by the emerging markets, namely, China, and India.
Asia-Pacific: The Largest Market of Shell & Tube Heat Exchangers
Asia-Pacific is currently the largest market for shell & tube heat exchangers. The U.S. is the largest market for shell & tube heat exchangers in the North American region.
The favorable market forces driving the market for shell & tube heat exchangers in North America are:
Chemicals: The Largest Application Segment of Shell & Tube Heat Exchangers Market
Shell & tube heat exchangers is used in various applications such as Chemicals, petrochemicals and oil & gas, HVAC & refrigeration, power generation, pulp & paper, food & beverages, power generation, and Others. These are the main applications considered in the report. In 2015, the chemicals application segment is estimated to account for the largest market share among all the applications, in terms of value, followed by petrochemicals and oil & gas, food & beverages, HVAC & refrigeration, power generation, and pulp & paper applications. The chemicals application is estimated to grow at the highest CAGR between 2015 and 2020 among all the applications considered.
The key players in the shell & tube heat exchangers market are Kelvion Holdings GmbH (Germany), Alfa Laval AB (Sweden), HRS Heat Exchangers (U.K.), Brask Inc. (U.S.), Koch Heat Transfer Company (U.S.), Standard Xchange (U.S.), and Manning and Lewis (U.S.). SPX Corporation (U.S.), API Heat Transfer Inc. (U.S.), Southern Heat Exchanger Corporation (U.S.) and other local players.
This report covers the market by value, for the shell & tube heat exchangers and forecasts the market size till 2020. The report includes the market segmentation by application – chemicals, petrochemicals and oil & gas, food & beverages, HVAC & refrigeration, power generation, and pulp & paper, and by region – Asia-Pacific, Europe, North America and RoW. Regions are further segmented by key country markets such as China, India, Japan, U.S., Canada, Germany, U.K., France, Sweden, Italy, Brazil, and Saudi Arabia. Report also provides company profiles and competitive strategies adopted by the major market players in the global shell & tube heat exchangers market.
Read more on ASDReports!
Source: ASDReports - Market Research
Date: Feb 5, 2016