Global Shell and Tube Heat Exchangers Market to Reach $11.4 Billion by 2030
The global market for Shell and Tube Heat Exchangers estimated at US$7.8 Billion in the year 2023, is expected to reach US$11.4 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2023-2030. Steel-based Shell and Tube Heat Exchangers, one of the segments analyzed in the report, is expected to record a 6% CAGR and reach US$4 Billion by the end of the analysis period. Growth in the Nickel & Nickel Alloys-based Shell and Tube Heat Exchangers segment is estimated at 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.4 Billion, While China is Forecast to Grow at 5.3% CAGR
The Shell and Tube Heat Exchangers market in the U.S. is estimated at US$2.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 4.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.
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