Global Shell & Tube Heat Exchanger Market Growth 2025-2031
Description
The global Shell & Tube Heat Exchanger market size is predicted to grow from US$ 6371 million in 2025 to US$ 8888 million in 2031; it is expected to grow at a CAGR of 5.7% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Shell & tube heat exchangers are one of the most widely used types of heat exchangers in industrial applications. These devices consist of a series of tubes—one set carries the hot fluid while the other carries the cold fluid—enclosed in a cylindrical shell. Heat is exchanged between the fluids through the tube walls without direct contact. Known for their durability, high-pressure resistance, and adaptability to a wide range of fluids and temperatures, shell & tube exchangers are ideal for chemical processing, power generation, oil & gas refining, HVAC, and marine applications.
Regional Insights
Asia-Pacific (largest market, ~38% share): Driven by rapid industrialization, especially in China, India, and Southeast Asia, with strong demand from chemicals, refining, and power sectors.
North America (~25%): Mature market with stable demand, especially in shale gas and downstream petrochemical processing.
Europe (~20%): Driven by sustainability goals and thermal efficiency improvements in energy and district heating sectors.
Middle East & Africa: Rapid capacity additions in oil refining and desalination.
Latin America: Slower growth but improving investment in industrial utilities and energy infrastructure.
LP Information, Inc. (LPI) ' newest research report, the “Shell & Tube Heat Exchanger Industry Forecast” looks at past sales and reviews total world Shell & Tube Heat Exchanger sales in 2024, providing a comprehensive analysis by region and market sector of projected Shell & Tube Heat Exchanger sales for 2025 through 2031. With Shell & Tube Heat Exchanger sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Shell & Tube Heat Exchanger industry.
This Insight Report provides a comprehensive analysis of the global Shell & Tube Heat Exchanger landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Shell & Tube Heat Exchanger portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Shell & Tube Heat Exchanger market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Shell & Tube Heat Exchanger and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Shell & Tube Heat Exchanger.
This report presents a comprehensive overview, market shares, and growth opportunities of Shell & Tube Heat Exchanger market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Fixed Tube Heat Exchanger
U-tube Heat Exchanger
Floating Head Heat Exchanger
Segmentation by Application:
Chemicals
Oil & Gas
HVAC & Refrigeration
Food & Beverages
Power Generation
Pulp & Paper
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Alfa Laval
Kelvion
SPX
Xylem
API Heat Transfer
Brask
Hughes Anderson
Manning and Lewis
Mason Manufacturing
Kennedy Tank
Enerfin Inc
HRS Heat Exchangers
Koch Heat Transfer
SHECO
Thermex
Funke
Thermofin
Armstrong Fluid Technology
Onda SpA
Thrush Co
Key Questions Addressed in this Report
What is the 10-year outlook for the global Shell & Tube Heat Exchanger market?
What factors are driving Shell & Tube Heat Exchanger market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Shell & Tube Heat Exchanger market opportunities vary by end market size?
How does Shell & Tube Heat Exchanger break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Shell & tube heat exchangers are one of the most widely used types of heat exchangers in industrial applications. These devices consist of a series of tubes—one set carries the hot fluid while the other carries the cold fluid—enclosed in a cylindrical shell. Heat is exchanged between the fluids through the tube walls without direct contact. Known for their durability, high-pressure resistance, and adaptability to a wide range of fluids and temperatures, shell & tube exchangers are ideal for chemical processing, power generation, oil & gas refining, HVAC, and marine applications.
Regional Insights
Asia-Pacific (largest market, ~38% share): Driven by rapid industrialization, especially in China, India, and Southeast Asia, with strong demand from chemicals, refining, and power sectors.
North America (~25%): Mature market with stable demand, especially in shale gas and downstream petrochemical processing.
Europe (~20%): Driven by sustainability goals and thermal efficiency improvements in energy and district heating sectors.
Middle East & Africa: Rapid capacity additions in oil refining and desalination.
Latin America: Slower growth but improving investment in industrial utilities and energy infrastructure.
LP Information, Inc. (LPI) ' newest research report, the “Shell & Tube Heat Exchanger Industry Forecast” looks at past sales and reviews total world Shell & Tube Heat Exchanger sales in 2024, providing a comprehensive analysis by region and market sector of projected Shell & Tube Heat Exchanger sales for 2025 through 2031. With Shell & Tube Heat Exchanger sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Shell & Tube Heat Exchanger industry.
This Insight Report provides a comprehensive analysis of the global Shell & Tube Heat Exchanger landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Shell & Tube Heat Exchanger portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Shell & Tube Heat Exchanger market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Shell & Tube Heat Exchanger and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Shell & Tube Heat Exchanger.
This report presents a comprehensive overview, market shares, and growth opportunities of Shell & Tube Heat Exchanger market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Fixed Tube Heat Exchanger
U-tube Heat Exchanger
Floating Head Heat Exchanger
Segmentation by Application:
Chemicals
Oil & Gas
HVAC & Refrigeration
Food & Beverages
Power Generation
Pulp & Paper
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Alfa Laval
Kelvion
SPX
Xylem
API Heat Transfer
Brask
Hughes Anderson
Manning and Lewis
Mason Manufacturing
Kennedy Tank
Enerfin Inc
HRS Heat Exchangers
Koch Heat Transfer
SHECO
Thermex
Funke
Thermofin
Armstrong Fluid Technology
Onda SpA
Thrush Co
Key Questions Addressed in this Report
What is the 10-year outlook for the global Shell & Tube Heat Exchanger market?
What factors are driving Shell & Tube Heat Exchanger market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Shell & Tube Heat Exchanger market opportunities vary by end market size?
How does Shell & Tube Heat Exchanger break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
137 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Shell & Tube Heat Exchanger by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Shell & Tube Heat Exchanger by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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