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Shell & Tube Heat Exchanger Market Size

Report ID: GMI9967
Published Date: Jun 2024
Report Format: PDF

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Shell & Tube Heat Exchanger Market Size

Shell & Tube Heat Exchanger Market was valued at USD 5.9 billion in 2023 and is set to witness about 8.2% CAGR between 2024 and 2032. Rising energy demands for heating & cooling systems across building infrastructure Increased investments in heavy-duty industrial operations is set to influence the product deployment.

Shell & Tube Heat Exchanger Market

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According to data from Eurostat, the European Union heating and cooling account for approximately half of the total energy consumption. The establishment of new chemical and petrochemical facilities, coupled with the exploration of both conventional and unconventional hydrocarbon reserves in various regions, will present new opportunities for the expansion of the heat exchanger industry.

Shell & Tube Heat Exchanger Market Report Attributes
Report Attribute	Details
Base Year:	2023
Shell & Tube Heat Exchanger Market Size in 2023:	USD 5.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	8.2%
2032 Value Projection:	USD 12.1 Billion
Historical Data for:	2021 – 2023
No. of Pages:	90
Tables, Charts & Figures:	55
Segments covered:	Application and Region
Growth Drivers:	Stringent standards by respective authorities to curb carbon emissions Favorable regulatory initiatives toward adoption of clean energy alternatives Growing adoption of energy efficient technologies
Pitfalls & Challenges:	Significant associated cost and maintenance requirements

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size shell & tube heat exchanger was reached USD 5.9 billion in 2023 and is anticipated to register 8.2% CAGR between 2024 and 2032, due to the stringent standards by respective authorities to curb carbon emissions and favorable regulatory initiatives.

The chemical application segment in the shell & tube heat exchanger market is anticipated to reach 3.4 billion by 2032, due to rising demand for chemical products, energy efficiency, sustainability, stringent regulations, and improved process control through digital technologies.

Asia Pacific shell & tube heat exchanger market is set to reach USD 4.5 billion by 2032, due to manufacturing expansion, chemical refining growth, and increased investments in energy-intensive infrastructure.

A.A. Anderson & Co., Inc., ALFA LAVAL, API Heat Transfer, Bronswerk, COMP AIR TREATMENT SYSTEM P. LTD., Enerquip Thermal Solutions, Exergy LLC, FUNKE Wärmeaustauscher Apparatebau GmbH, and HRS Process Systems Ltd., among others.