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. Growing industrialization in emerging markets, rising demand for HVACR equipment, and stringent environmental and energy efficiency regulations are driving the market for shell & tube heat exchanger. The increase in demand for shell & tube heat exchanger due to the growing industrial development in the emerging economies, such as APAC, is driving the market.
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Shell & Tube Heat Exchanger Manufacturers:
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). These players have adopted various strategies such as mergers & acquisitions, new product launches and investment & expansion to strengthen their market position. For instance, in January 2019, Mersen acquired GAB Neumann, an expert in the designing, producing and sale of graphite and silicon carbide heat exchangers for the chemicals market. This deal helps Mersen for strengthening its position in the German chemical market
Alfa Laval AB is a major global manufacturer of top-quality products for applications such as heat transfer, separation, and fluid handling. The company offers a broad portfolio of heat exchangers, boilers, decanters, exhaust gas cleaners, fluid handling equipment and separators. Alfa Laval offer their products to various industries, such as, energy & utility, home & personal care, food, dairy & beverage, marine & transportation, pharma & biotech, waste, and wastewater. The company operates under three divisions: Energy Division, Food & Water and Marine Divisions.
Alfa Laval has a global footprint with 40 production sites and distribution centers in Europe, Asia, and America. The company offers their products, systems, and services in more than 100 countries. Alfa Laval has a total of 4000 patents globally. They contribute to 15 of the 17 UN sustainable development goals.
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HRS Heat Exchangers was acquired by Exchangers Industries Limited, the Canadian market leader and global manufacturer of heat transfer products, in 2021. HRS Heat Exchangers is one the major manufacturer and supplier of heat exchangers and custom process systems. Through their products, they serve various industries such as chemical, food & beverage, and pharmaceuticals. The company’s product line includes heat exchangers, systems, fillers, and pumps. HRS is member of various associations: ADBA, World Biogas Association, British Water, American Biogas Council, PMMI, WEF and Canadian Biogas Association.
HRS Heat Exchangers operate in UK, Spain, India, USA, Mexico, Malaysia, Australia, and New Zealand. The company has a strong global distribution network.
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