The global microchannel heat exchanger market is estimated to reach USD 26.7 billion by 2026. MCHE in the automotive industry is primarily driven by growth in global automotive demand. Microchannel heat exchangers are multi-pass parallel heat exchangers of three parts: multi-port tubes with less than 1 mm hydraulic diameter, manifolds, and fins that control heat flow. This are used to heat and cool by moving heat from one fluid to another. This are particularly noticeable in refrigerants flowing through a microchannel. In today's advanced technology age, microchannel heat exchangers are used in a variety of industries, including automobiles, manufacturing, and power generation.
The demand for microchannel heat exchanger market in the global market is driven by its use in a variety of applications such as residential and commercial infrastructure. Due to increased demand for cooling, heat, air ventilation, and refrigerator in various industries, the microchannel heat exchanger market is rising at a rapid rate. In addition, the global demand for microchannel heat exchangers is growing due to stricter legislation on emission requirements for energy quality. The high demand for microchannel heat exchangers in residential and industrial applications is also propelling the growth of this industry in the global market.
Companies are heavily investing in R&D activities to meet various norms and specifications. Key players in the market, including Sanhua (China), MAHLE (Germany), are focusing on backward integration and producing their raw materials to maintain the quality of the final product. Other manufacturers rely on distributors for the delivery of raw materials to manufacturing sites and internal transportation of the final product.
In some instances, manufacturing companies have formed strategic partnerships and direct alliances with local end-users across the globe. Any change in the demand and supply of raw materials may have an impact on the industry. Therefore, manufacturers have enlarged their presence in the value chain by backward integrating and expanding their product portfolio. Some of the prominent players in the global surface disinfectant market include
The major players operating in the global microchannel heat exchanger market are Sanhua (China), MAHLE (Germany), Denso Corporation (Japan), Modine (US), Hanon Systems (South Korea), Kangsheng Group (China), Kaltra (Deutschland), Climetal (Spain), Danfoss (Denmark), and API Heat Transfer (US). Proliferation of local manufacturers is also significant in this market, thus intensifying the prevalent competition.
Microchannel Heat Exchanger Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 26.7 billion|
|Growth Rate||CAGR of 13.0% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||Sanhua (China), MAHLE (Germany), Denso Corporation (Japan), Modine (US), Hanon Systems (South Korea), Kangsheng Group (China), Kaltra (Deutschland), Climetal (Spain), Danfoss (Denmark), and API Heat Transfer (US).|
Key Segments of the Global Microchannel Heat Exchanger Market
Type Overview, 2016-2026 (USD Million)
- Water Coil
Application Overview, 2016-2026 (USD Million)
- Residential AC
- Commercial AC
- Precision Cooling
- Commercial Refrigeration
- Stationary Refrigeration
- Transport Refrigeration
- Cold Storage
Regional Overview, 2016-2026 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global microchannel heat exchanger market.
- Microchannel heat exchanger is widely used for various end uses in automotive and HVAC, owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing commercial refrigeration, there is a rise in the demand for distribution transformer which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global microchannel heat exchanger market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, products, form and usage area. Moreover, the study on microchannel heat exchanger market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global microchannel heat exchanger market is suitable for all the players across the value chain including component and raw material providers, disinfectant manufacturers, distributors, and other intermediaries
- Venture capitalists and investors looking for more information on the future outlook of the global microchannel heat exchanger market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global microchannel heat exchanger market
Frequently Asked Questions (FAQ) :
The growing demand for microchannel heat exchangers in commercial and residential infrastructure, owing to significant advancements in technology that aid in maintaining the quality of the environment after installing an HVAC system, would help provide multiple growth opportunities over the forecasted era. Furthermore, increased construction demand would directly contribute to increased growth opportunities for the global microchannel heat exchanger sector.
The global microchannel heat exchanger market is expanding rapidly, but a number of reasons, such as raw material fluctuations and rising raw material costs, are acting as stumbling blocks to the market's expansion. Another element impeding development is heat exchanger corrosion, which necessitates repair and cleaning after a few days and is difficult to accomplish due to its complicated nature.
Because of technological advances and their use in residential and industrial facilities, the microchannel heat exchanger industry is booming. Aerospace, bioengineering, infrared detectors, powerful laser mirrors and superconductors, and film deposition thermal control are just a few of the applications. Compactness for space-critical applications, effective flow distribution, high volumetric heat flux, rugged architecture, and mild pressure drops are all advantages of the microchannel heat exchanger. It is expected to expand rapidly.
Based on type, the global microchannel heat exchanger market is segmented into condenser, evaporator and water coil. The condenser type segment currently dominates the global market with around 50% market share in 2019. The HVAC industry has a strong demand for condenser MCHE because of its compact size, low refrigerant requirement, and high heat transfer rate. The water coil category, on the other hand, is expected to rise at the fastest rate due to MCHE's increasing adaptability in this market. In comparison to other heat exchangers, HVAC is smaller, more reliable, and needs less refrigerant volume. Furthermore, since it is made of titanium, it is less prone to galvanic corrosion than conventional round-tube plate fin (RTPF) coils. For effective heat transfer between refrigerant and air, MCHE is commonly used in air conditioning systems and heat pumps.
Asia Pacific is the largest regional market for microchannel hat exchanger on the global front, followed by Europe. Due to the involvement of major automotive and HVAC industries, China accounted for the largest share of the APAC industry. With an expected annual GDP growth rate of more than 7.0 percent over the projected period, India is the world's fastest-growing economy. APAC comprises four of the top five car production countries: China, India, Japan, and South Korea. In terms of total AC usage, these countries saw significant increases in 2018. As a result, the overall situation in APAC is favorable for MCHE business development. Moreover, several market incumbents are domiciled in North America and Europe, therefore giving the regions early bird advantage in adoption of latest advanced products.