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Shell & Tube Heat Exchangers Market – Increased Investments in Chemicals, Petrochemicals and Oil & Gas, and HVAC Industries

According to research report Shell & Tube Heat Exchangers are finding increasing acceptance in various applications, such as chemical, petrochemicals and oil & gas, HVAC & refrigeration, food & beverages, pulp & paper, power generation, and so on. These heat exchangers are capable of transferring a large amount of heat at relatively low costs and possess high heat transfer capacity, low pressure drops, ease of repair, abrasive wear protection that minimizes the erosion and price advantage. This market intelligence report on shell & tube heat exchangers makes an effort to estimate the market for shell & tube heat exchangers by application and region, in terms of value.

The trend of using shell & tube heat exchangers in various applications due to its excellent mechanical properties is projected to increase the size of the shell & tube heat exchangers market.

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Chemicals: The Largest Application Segment of Shell & Tube Heat Exchangers Market

Shell & Tube Heat Exchanger Market, Shell & Tube Heat Exchanger
Shell & Tube Heat Exchangers Market – Increased Investments in Chemicals, Petrochemicals and Oil & Gas, and Hvac Industries

Europe dominated the shell & tube heat exchangers market in 2014, in terms of value, followed by North-America and Asia-Pacific. The developed regions, such as Europe and North America are relatively mature markets as compared to Asia-Pacific and RoW. Asia-Pacific is expected to witness the highest growth rate between 2015 and 2020. The market in this region is experiencing an increase in shell & tube heat exchangers demand from chemicals, petrochemicals and oil & gas, HVAC & refrigeration, food & beverages, pulp & paper, power generation, among others applications. In Asia-Pacific, India will be the market with the highest CAGR during the forecast period between 2015 and 2020.  China has been an export-oriented country; however, the growing domestic demand is expected to increase internal market value of shell & tube heat exchangers.

Expansions, contracts, and agreements were the key strategy adopted by the industry players to achieve growth in the shell & tube heat exchangers market between 2011 and 2015. The physical properties of shell & tube heat exchangers such as high efficiency & heat transfer capacity, low pressure drops, and ease of repair are boosting its use in the chemicals, petrochemicals and oil & gas, HVAC & refrigeration, pulp & paper, and power generation applications. Increasing energy prices and the demand for more efficient use of energy has led various end-use industries to focus on energy saving, ultimately leading to an increase in the demand for heat exchangers. These aspects have encouraged companies to adopt the strategies of expansions, contracts, and agreements in the shell & tube heat exchangers market. Some of the leading shell & tube heat exchangers makers such as Alfa Laval AB (Sweden), Kelvion Holdings GmbH (Germany), API Heat Transfer Inc. (U.S.), HRS Heat Exchangers Ltd. (U.K.) are adopting this strategy to develop their businesses, globally.

Besides expansions, contracts, and agreements, the companies have adopted the strategies of mergers & acquisitions and investments to expand their market share and distribution network. These strategies also accounted for a significant share of the total number of growth strategies adopted by the players in the shell & tube heat exchangers market between 2011 and 2015.

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Key companies, such as  Alfa Laval AB (Sweden), Kelvion Holdings GmbH (Germany), API Heat Transfer Inc. (U.S.), HRS Heat Exchangers Ltd. (U.K.), SPX Corporation (U.S.), Koch Heat Transfer Inc. (U.S.), Southern Heat Exchanger Corporation (U.S.), Manning and Lewis (U.S.), Brask Inc. (U.S.) and Standard Xchange (U.S.), are the most active players in the  shell & tube heat exchangers market.

In 2015, Alfa Laval AB (Sweden) signed an agreement to supply Packinox heat exchangers to a petrochemical plant in South Korea. This agreement helped the company to increase its regional presence. In 2015, Koch Heat Transfer acquired heat exchangers brand named as ALCO products & Bos-Hatten from Peerless Mfg. Co. This acquisition helps the company to further expand its service to the current customer base. In 2015, GEA Heat Exchangers (Now Kelvion Holdings GmbH) opened a new research & development (R&D) laboratory. This would help the company in essential research development and contribute to new and innovative solutions in the heat exchanger market. Such moves are a part of the strategies of the company to consolidate and optimize its production network.

 

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