Microchannel Heat Exchanger Market is projected to be worth USD 2.57 Billion by 2027, registering a CAGR of 9% during the forecast period (2021 - 2027), The market was valued at USD 12.10 billion in 2020.
COVID 19 Analysis
The global pandemic of COVID 19 has affected the lives of all businessmen to the great extent. Owing to the increasing outbreak of COVID 19, the lockdown situation, and post lockdown situation the financial front has suffered a lot. Now along with health crises, one has to deal with financial crises as well that have pushed the economies into forced recession. Owing to this situation, many manufacturing units were shut down as a result s steep downfall in revenues has been observed in the microchannel heat exchanger market.
It is expected that the microchannel heat exchanger market is expected to recover from this global pandemic situation at the end of the first quarter of the coming year during the forecasted period.
The most prominent market players in the global market are as follows:
These prominent market players use various strategies like collaboration, partnership, merger and acquisition, product innovation, and various other policies for attracting the customer base in the potential market all across the globe.
The microchannel heat exchanger market is growing at a very fast pace owing to increasing demand for cooling, heat, air ventilation, refrigerator in various industries. Also, the strictness in regulations regarding emission standards for energy efficiency drives the growth of the microchannel heat exchanger market in the global market. Owing to high demand in residential as well as commercial applications with the help of microchannel heat exchanger also drives the growth of this market in the global market.
The increasing demand for microchannel heat exchangers in commercial, as well as residential infrastructure owing to significant up-gradation in the technology that helps in maintaining the quality of the atmosphere after installing an HVAC system, helps in providing various growth opportunities during the forecasted period. Also, the increased demand for construction will directly help in raising growth opportunities for the microchannel heat exchanger market in the global market.
The microchannel heat exchanger market is growing tremendously in the global market but various factors like volatility of raw material and increase in prices of raw material act as various restraining factors that hinder the growth of the microchannel heat exchanger market in the global market. Another factor that hampers the growth is the corrosion in heat exchangers, which makes maintenance and cleaning mandatory after few days, and due to its complex design, it is difficult to do so.
Value Chain Analysis
The microchannel heat exchanger market is growing tremendously owing to advancements in technology and its application in residential and commercial infrastructure. It is also used in aerospace, bioengineering, infrared detectors, efficient laser mirrors and superconductors, film deposition thermal control. The microchannel heat exchanger provides various benefits like compactness for space-critical applications, efficient flow distribution, high volumetric heat flux, robust design, and moderate pressure drops. It is expected to grow soon.
The market in the global market has been divided based on industry, application, and phase.
Based on the industry
The microchannel heat exchanger market in the global market has been divided based on industry into power, refrigerated transport, residential, food processing, commercial, and many others. The largest market share has been held by commercial dividends and hence dominates the market.
Based on the application
The market in the global market has been divided based on application into the evaporator, heat pump, chiller, and condenser. It is expected that the largest market share has been held by the heat pump dividend and hence dominates the market.
Based on the Phase
The market in the global market has been divided based on phase into two-phase and single-phase. It is expected that a single-phase dividend dominates the global market and holds the largest market value.
The microchannel heat exchanger market in the global market has been divided based on region into the North America region, the Asia-Pacific region, the Europe region, and the rest of the world. The largest market share in the microchannel heat exchanger market is held by the Asia-Pacific region as China is the largest market in the global market. Also, the increasing use of HVAC installation at the residential as well as commercial complexes along with increasing MCHE in industrial manufacturing processes.
The second-largest market share in the market is held by the North American region owing to the increase in technology up-gradation in the region. Also, the presence of many competitive players in the U.S. region helps in holding the second position in the global market. The third position is held by the Europe region followed by the Middle East and Africa region.
This global microchannel heat exchanger market research report consists of the following aspects:
|CAGR||9% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Industry and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Kaltra (Germany), Welcon Inc. (Japan), Shanghai Shenglin M&E Technology Co. Ltd. (China), Evapco Inc. (U.S.), Climetal SL (Spain), Modine Manufacturing Company (U.S.), Danfoss (Denmark), Zhejiang DUNAN Artificial Environment Co. Ltd. (China), Sanhua (U.S.), Vacuum Process Engineering (U.S.), Sumitomo Precision Products Co. Ltd. (Japan)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The APAC microchannel heat exchanger market is expected to record a substantial market valuation from USD 2.3 billion in 2023.
The global microchannel heat exchanger market is projected to register a 13.45% CAGR in the forecast period.
Technological advancements, rapid urbanization are increasing the adoption in the manufacturing industry.
the lack of awareness and technical expertise in lower economies is likely to hamper the growth of the market over the review period.
The residential segment is slated to expand as the fastest-growing segment.
The heat pump segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global microchannel heat exchanger market are Kaltra (Germany), Shanghai Shenglin M&E Technology Co Ltd (China), Welcon Inc (Japan), among others.