Shell & Tube Heat Exchanger Market by Material (Steel, Nickel & Nickel Alloys, Titanium, Tantalum), Application (Chemicals, Petrochemicals, HVAC & Refrigeration, Food & Beverages, Power Generation, Pulp & Paper), and Region - Global Forecast to 2027

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Date: 07-Nov-2022
No. of pages: 212
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The global shell & tube heat exchanger market is projected to register a CAGR of 5.4% between 2022 and 2027, in terms of value.

The global shell & tube heat exchanger market size is projected to grow from USD 9.0 billion in 2022 to USD 11.7 billion by 2027, at a CAGR of 5.4% between 2022 and 2027. Rising demand from emerging markets and growing industrialization are expected to offer significant growth opportunities to manufacturers of shell & tube heat exchanger.

“The petrochemical and oil & gas segment accounted for the second largest CAGR in the shell & tube heat exchanger market in terms of value, during the forecast period.”

Shell & Tube heat exchangers are used in the petrochemical industry in the manufacturing of alcohols, aromatics, detergents, olefins, varnishes, and plastics & wastewater treatment. The demand of shell & tube heat exchangers in the petrochemical industry varies according to the grades of oil. Some of the major processes utilizing the shell & tube heat exchangers in the petrochemical industry are syngas heater, boiler feedwater heater, and sour gas heater.

“Steel is the largest material segment of shell & tube heat exchanger market.”

Steel is widely used in shell & tube heat exchanger. This material accounted for the largest share of material in the shell & tube heat exchanger market. Stainless steel is ideally used for the construction of shell & tube heat exchanger due to its high strength & durability, and resistance against corrosion. The most preferred steel grades by manufactures are mild steel and stainless steel.

“North America is estimated to be the second-largest market for shell & tube heat exchanger”

North America is the second-largest market for Shell and tube heat exchangers. US, Canada, and the Mexico are the major countries in the North American market. The region has a strong industrial base. Some of the major players operating in the shell and tube heat exchangers market are based in this region, such as Xylem, API Heat Transfer, Koch Heat Transfer, and Manning & Lewis.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the shell & tube heat exchangers market, and information was gathered from secondary research to determine and verify the market size of several segments.


  • By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%

  • By Designation: C Level Executives– 20%, Directors – 10%, and Others – 70%

  • By Region: APAC – 50%, Europe – 20%, North America – 10%, the Middle East & Africa –10%, and South America- 10%


The key players in this market are Alfa Laval AB (Sweden), HRS Heat Exchangers (UK), Kelvion (Germany), Xylem (US), API Heat Transfer (US), Koch Heat Transfer (US), Thermex (UK), Manning and Lewis (US), Thermofin (Canada), and Mersen (France).

Research Coverage:

The report offers insights into the Shell & tube heat exchanger market in key regions. It aims at estimating the size of the shell & tube heat exchanger market during the forecast period and projects future growth of the market across various segments based on material, application, and region. The report also includes an in-depth competitive analysis of the key players in the shell & tube heat exchanger market, along with company profiles, MNM view, recent developments, and key market strategies.

Key Benefits of Buying the Report

From an insight perspective, this research report focuses on various levels of analysis — industry analysis (industry trends), market share ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the shell & tube heat exchanger; high growth regions; and market drivers, restraints, opportunities, and challenges.

Shell & Tube Heat Exchanger Market by Material (Steel, Nickel & Nickel Alloys, Titanium, Tantalum), Application (Chemicals, Petrochemicals, HVAC & Refrigeration, Food & Beverages, Power Generation, Pulp & Paper), and Region - Global Forecast to 2027

Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.3 Scope Of The Study
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered For The Study
1.4 Currency
1.5 Stakeholders
1.6 Units Considere
1.7 Inclusions & Exclusions
1.8 Summary Of Changes

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List Of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.3 Primaries
2.1.3.1 Primary Interviews – Demand And Supply-Side
2.1.3.2 Key Industry Insights
2.1.3.3 Breakdown Of Primary Interviews
2.2 Market Size Estimation
2.2.1 Top-Down Approach
2.2.1.1 Approach For Arriving At Market Size Using Top-Down Analysis
2.2.2 Bottom-Up Approach
2.2.2.1 Approach For Arriving At Market Size Using Bottom-Up Analysis
2.3 Forecast Growth Estimation
2.4 Data Triangulation
2.5 Factor Analysis
2.6 Assumptions
2.7 Limitations & Risks Associated With The Shell & Tube Heat Exchangers Market

3 Executive Summary

4 Premium Insights
4.1 Shell & Tube Heat Exchangers Market, By Material
4.2 Shell & Tube Heat Exchangers Market, By Application
4.3 Shell & Tube Heat Exchangers Market Growth Rate, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges

6 Industry Trend
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Raw Material Suppliers
6.2.2 Manufacturers
6.2.3 Distributors
6.2.4 End Consumers
6.3 Porter’s Five Forces Analysis
6.3.1 Threat Of Substitutes
6.3.2 Bargaining Power Of Buyers
6.3.3 Threat Of New Entrants
6.3.4 Bargaining Power Of Suppliers
6.3.5 Intensity Of Competitive Rivalry
6.4 Patent Analysis
6.5 Average Selling Price Trends
6.5.1 Based On Type
6.5.2 Based On Suppliers (Key Players)
6.5.3 Based On Region
6.6 Ecosystem/ Market Mapping
6.7 Technology Trends
6.8 Raw Material Analysis
6.9 Regulation And Tariffs Analysis
6.9.1 Regulatory Bodies, Government Agencies And Other Organizations
6.10 Trade Analysis (Export/Import)
6.11 Macroeconomic Indicators
6.12 Trends/Disruptions Impacting Customer’s Business
6.13 Key Conferences And Events
6.14 Key Stakeholders And Buying Criteria
6.14.1 Key Stakeholder In Buying Process
6.14.2 Buying Criteria
6.15 Case Study Analysis

7 Shell & Tube Heat Exchangers Market, By Flow Type
7.1 Introduction
7.2 Parallel Flow
7.3 Counter Flow
7.4 Cross Flow

8 Shell & Tube Heat Exchangers Market, By Material
8.1 Introduction
8.2 Steel
8.3 Nickel & Nickel Alloys
8.4 Titanium
8.5 Tantalum
8.6 Hastelloy
8.7 Others

9 Shell & Tube Heat Exchangers Market, By Application
9.1 Introduction
9.2 Chemicals
9.3 Petrochemical And Oild & Gas
9.4 Hvac & Refrigeration
9.5 Food & Beverages
9.6 Power Generation
9.7 Pulp & Paper
9.8 Others

10 Shell & Tube Heat Exchangers Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 China
10.2.2 Japan
10.2.3 India
10.2.4 South Korea
10.2.5 Rest Of Asia Pacific
10.3 North America
10.3.1 U.S
10.3.2 Canada
10.3.3 Mexico
10.4 Europe
10.4.1 Germany
10.4.2 U.K
10.4.3 France
10.4.4 Italy
10.4.5 Spain
10.4.6 Turkey
10.4.7 Rest Of Europe
10.5 Middle-East & Africa
10.5.1 Saudi Arabia
10.5.2 South Africa
10.5.3 Uae
10.5.4 Rest Of Mea
10.6 South America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest Of South America

11 Competitive Landscapes
11.1 Introduction
11.2 Strategies Adopted By Key Players
11.3 Market Share Analysis
11.3.1 Ranking Of Key Market Players
11.3.2 Market Share Of Key Players, 2020
11.4 Revenue Analysis Of Top Players
11.5 Market Evaluation Matrix
11.6 Company Evaluation Matrix
11.6.1 Star
11.6.2 Emerging Leaders
11.6.3 Pervasive
11.6.4 Participant
11.7 Competitive Benchmarking
11.8 Company Footprint
11.9 Company Application Footprint
11.10 Company Region Footprint
11.10.1 Strength Of Product Portfolio
11.10.2 Business Strategy Excellence
11.11 Startups And Small And Medium-Sized Enterprises (Smes) Evaluation Matrix
11.11.1 Progressive Company
11.11.2 Responsive Companies
11.11.3 Starting Blocks
11.12 Competitive Scenario
11.12.1 New Product Launches
11.12.2 Deals
11.12.3 Other Developments

12 Company Profiles
((Business Overview, Financials*, Products Offered, Scorecard Of Product Offering, Scorecard Of Businessstrategy, And Recent Developments)
12.1 Alfa Laval Ab
12.1.1 Business Overview
12.1.2 Products Offered
12.1.3 Recent Developments
12.1.4 Mnm View
12.1.4.1 Key Strengths/Right To Win
12.1.4.2 Strategic Choices Made
12.1.4.3 Weaknesses And Competitive Threats
12.2 Hrs Heat Exchangers
12.3 Kelvion
12.4 Xylem
12.5 Api Heat Transfer
12.6 Koch Heat Transfer
12.7 Manninng & Lewis
12.8 Mersen
12.9 Thermax
12.10 Thermofin
12.11 Other Companies
12.11.1 Barriquand
12.11.2 Brask Inc.
12.11.3 Elanco
12.11.4 Enerfin
12.11.5 Fbm Hudson Italiana
12.11.6 Funke
12.11.7 Gea Power Cooling System Inc.
12.11.8 Kennedy Tank & Manufacturing
12.11.9 Km Group
12.11.10 Mason Manufacturing
12.11.11 Mezzo Technologies
12.11.12 Southern Heat Exchangers
12.11.13 Tinita Engg.
12.11.14 United Heat Exchangers
12.11.15 Wcr Inc.

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