Microchannel Heat Exchanger Market Research Report - Global Forecast till 2027

Microchannel Heat Exchanger Market Report: Information by Industry (Residential, Commercial, Refrigerated Transport, Power), Application (Chiller, Heat Pump, Condenser and Evaporator), Phase (Single-Phase and Two-Phase), Region - Forecast till 2027

ID: MRFR/E&P/6472-CR | October 2020 | Region: Bric | 111 pages

Microchannel Heat Exchanger Market Overview


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.


Competitive Landscape


The most prominent market players in the global market are as follows:



  • 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)


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.
Market Dynamics


Drivers


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.


Opportunities


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.


Restraints


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.


Market Segmentation


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.


Regional Analysis


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.


Recent Developments



  • In September 2016, Luvata Heat Transfer Solutions (Finland) has been acquired by Modine Manufacturing Company (U.S.) for increasing the total market value in the global market to approximately USD 422 million during the forecasted period for increasing its portfolio.

  • In July 2017, owing to the increasing demand for MCHE installation especially in the automotive industry in Mexico, a new manufacturing unit has been set up to cater to the increasing demand in Mexico by Sanhua.

  • In September 2018, the fluid pressure and controls business namely Magna International which has been set up in Canada had acquired Hanon Systems for providing energy and thermal management solutions that will help in enhancing the existing cooling business dividend.

  • In January 2019, Ecapco Inc. (U.S.), for expansion purposes and to increase sales in the Middle East region established its new office in Dubai, UAE. Though in 2017, they announced that they will establish its new office in Taneytown (U.S.) and later ended up in Dubai for enhancing the manufacturing capacity all across the globe.

  • In February 2019, a fin-type condenser has been developed by Shanghai Shenglin for an un-named France client that helped the company for increasing the market share in the Europe region.


The multi-pass parallel that has three parts that are multi-port tubes which is less than 1 mm hydraulic diameter, manifolds and fins that regulate heat flow are microchannel heat exchanger. By transferring heat from one fluid to another, these are used for heating and cooling. These are most prominent in refrigerants flowing in a microchannel. In the advanced technology era, the microchannel heat exchanger is used in various industries like the automobile industry, construction industry, and power generation industry. Owing to its use in multiple applications like residential and commercial infrastructure the demand for microchannel heat exchanger market in the global market.
Report Overview


This global microchannel heat exchanger market research report consists of the following aspects:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This research report contains the impact of the global pandemic of COVID 19 on the market revenues during the forecasted period along with the factors that drive the market. This report also contains the restraining factors that hinder the growth of the microchannel heat exchanger market in the global market. The expected future growth rate is also estimated and mentioned.

Microchannel Heat Exchanger Market



Report Scope:
Report Attribute/Metric Details
  Market Size    USD 2.57 Billion
  CAGR   9% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  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

  • Increasing demand for microchannel heat exchangers
  • Increased demand for construction
  •   Key Market Drivers

  • Increasing demand for cooling, heat, air ventilation, refrigerator
  • Strictness in regulations regarding emission standards
  • High demand in residential as well as commercial applications


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    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.

    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.