Shell & Tube Heat Exchanger Market Share

APAC Market Forecast

Asia Pacific industry is expected to dominate majority revenue share of 30% by 2037. This growth is set to be influenced by the rising urban population. For instance, Asia's cities are expanding at such a pace that by 2030, over 55 percent of the region's massive population will be living in cities. Hence, this has further increased manufacturing activities which is further set to increase demand for shell & tube heat exchanger. Furthermore, this region has a robust chemical processing industry, and the need for heat exchangers—which transmit heat in a variety of chemical processing applications—is being driven by the growing market for chemical goods.

European Market Analysis

The shell & tube heat exchanger market is also set to have significant growth in the revenue during the forecast period. The major element to influence the market expansion in this region is growing infrastructure development which is further encouraging the demand for chemicals hence further influencing the market growth. Moreover, investment in renewable energy is also high in this region. As a result, the deployment of shell & tube heat exchangers is projected to rise in this region.