Ovetii apparently believe that an abundance of reports regarding escalating oil prices and limited oil supply has caused the demand for heat exchangers to increase dramatically.
A senior analyst with prominent European investment firm Ovetii, reportedly commented that the war had affected the U.S. economy, resulting in significant reductions in investment in the U.S. petrochemical sector and refineries. He went on to add that this had provided great opportunities for manufacturers in Europe to breach the gap in investment, as they form the core end user sectors for the heat exchangers.
Currently, the European heat exchanger market is buoyant, growing at a rate of 10 percent annually. Sectors like chemicals, fuel processing, power generation, pulp and paper, petrochemicals and oil and gas refineries have propelled the demand for heat exchangers.
Sources say that Ovetii are certain that the future of the heat exchanger market in Europe, lies in the plate heat exchangers. Their popularity is growing mainly due to the advantages they hold over shell and tube categories.
