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Microchannel Heat Exchanger Companies

Focused on heat exchange technology, these companies design and manufacture microchannel heat exchangers. These exchangers are used for efficient heat transfer in various applications, such as HVAC systems and industrial processes.

Microchannel Heat Exchanger Key Company

*Disclaimer: List of key companies in no particular order

Latest Company Updates:

September 2023- Researchers plan the new liquid filter for better solar energy use. Photovoltaic (PV) modules refer to gadgets that transform sunlight into electrical energy. On the other hand, they go through a low conversion efficiency of nearly 20% as they can only transform near-infrared wavelengths into electricity. In contrast, other wavelengths heat the PV module, lowering its efficiency. To argue against this, researchers have built photovoltaic-thermal (PVT) systems, in which produced heat is moved away by a heat exchanger with a coolant fluid. This lowers the temperature of the PV module, enhancing its efficiency. In addition, the gathered heat can be used as a kind of thermal energy. To further improve the cooling down effect of PV modules and gather thermal energy, disjointed PVT systems endowed with liquid filters have been formulated. The filters, situated on PV modules, get certain wavelengths of sunlight contributing nominally to electricity production, such as near-infrared, visible light, and ultraviolet (UV), enabling their transition into thermal energy for several application areas.

On the other hand, water, a popular liquid filter, cannot absorb UV rays. Now, a group of scientists, commanded by Jae Won Lee, the Assistant Professor from Korea Maritime & Ocean University, has launched an advanced blend (mixture) of fish oil and water as a liquid filter. It effectively absorbs both UV light and infrared, raising the energy harvesting potential of de-coupled PVT systems. Their work was revealed in Energy Conversion and Management.

Top listed global companies in the industry are:

  • 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. Lid. (China)

  • Sanhua (U.S.)

  • Vacuum Process Engineering (U.S.)

  • Sumitomo Precision Products Co. Ltd. (Japan), and others.

Global Microchannel Heat Exchanger Market Overview:

Microchannel Heat Exchanger Market Size was valued at USD 2.2 Billion in 2022. The Microchannel Heat Exchanger Market industry is projected to grow from USD 2.3 Billion in 2023 to USD 3.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2032). Increasing demand for cooling, heating, ventilation, and refrigeration, as well as stricter laws governing emission standards are the key market drivers enhancing the market growth.

Microchannel Heat Exchanger Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Microchannel Heat Exchanger Market Trends

  • Rising demand from the automobile industry drives market growth.

Market CAGR for microchannel heat exchanger is being driven by the increasing demand from the automobile industry. The microchannel heat exchangers use air conditioning, which is a crucial necessity for vehicles. The heat exchanger is also used to transfer heat from exhaust gas to coolant fluid and raise the temperature of the coolant. Furthermore, the ability to efficiently transfer heat utilising lightweight and small exchangers is advantageous for a variety of automotive applications such as air conditioning, vehicle radiators, HVAC systems, and others. According to the National Automobile Dealers Association (NADA), light vehicle sales are expected to reach roughly 16.3 million units in the first quarter of 2021, representing a 12.7% rise over the same period in 2020. With increased output, the automobile industry is pushing the microchannel heat exchangers market. Furthermore, the lightweight, compactness, efficiency, and excellent heat transferring performance of microchannel heat exchangers for automotive are driving significant market expansion and demand.

Microchannel heat exchangers are widely utilised in heating, ventilation, air conditioning, and refrigeration systems in a variety of industrial sectors, including commercial and residential buildings, power generating, automotive, and others. Because of their superior advantages such as decreased costs, increased heat transferring rate, compact construction, and efficiency, microchannel heat exchangers are pushing the market for HVAC systems. The increasing use of heat exchangers in air coolers, condensing systems, and other applications is driving up demand for the microchannel heat exchangers market. According to the International Energy Agency (IEA), space cooling emitted 1GT of CO2 and utilised around 8.5% of total energy consumption in 2019. Furthermore, the growing demand for HVAC services for air conditioning in homes, offices, and other sectors is driving the use of microchannel heat exchangers, creating significant market potential opportunities.

According to the American Chemical Society, the chemical industry in the United States will grow by 2.5% in 2019 and 3% in 2020. The rising domestic end-use sectors are major elements boosting the development of the chemical industry in the United States. The growing chemical demand from numerous end-use applications drives additional capital investment in the chemical sector. Heat exchangers are needed in the chemical manufacturing process to chill, heat, and combine chemicals. The increasing expansion of the chemical sector is projected to be a prominent driver driving the heat exchangers market.

Microchannel Heat Exchanger Market Segment Insights:

Microchannel Heat Exchanger Type Insights

The Microchannel Heat Exchanger Market segmentation, based on type includes heat pump, chiller, air handling unit, fan coil unit and others. During the projected period, the heat pump segment is expected to have the greatest CAGR and dominate the market share. A heat pump system heats or cools air from your chamber's return before redistributing it through the supply ducts. A refrigeration system pump that uses outside air to heat or chill a specified area for applications such as drying, washing, and pasteurisation. The pump has a high system efficiency, low noise levels, low energy consumption, and can reduce refrigerant charge by up to 70%.

Microchannel Heat Exchanger Phase Insights

The Microchannel Heat Exchanger Market segmentation, based on phase, includes single phase and double phase. In 2022, the single-phase segment is predicted to have the greatest CAGR and the largest market share. Single phase heat exchangers are extensively used in a variety of cooling and heating applications. These include free cooling systems, dry coolers, air conditioners, and others, with water or glycol mixtures serving as the most common medium. When the liquid fluid in the microtubes follows the course of the single phase, single-phase heat transfer happens.

Figure1: Microchannel Heat Exchanger Market, by Phase, 2022 & 2032 (USD Billion)

Microchannel Heat Exchanger Market, by Phase

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Microchannel Heat Exchanger End-User Insights

The Microchannel Heat Exchanger Market segmentation, based on end-user, includes HVACR, food processing, refrigerated transport, power and others. HVACR segment held the greatest share (37% in 2022) and is predicted to expand the size of the microchannel heat exchangers market in the future years. Heating, ventilation, and air conditioning (HVAC) utilisation is increasing in the automotive, power, electronics, and other industries. When compared to conventional heat exchangers, it is predicted to grow rapidly because to its superior qualities such as efficiency, lightweight, and low refrigerant volumes. HVAC is primarily employed for effective heat transmission in automobile air conditioning systems, the electronics sector, commercial buildings, and other applications.

Microchannel Heat Exchanger Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific Microchannel Heat Exchanger Market area will dominate this market, because of the large automobile and HVAC sectors. India is the world's fastest-growing economy, with an annual GDP growth rate of more than 7.0% expected for the forecast period. Moreover, China’s Microchannel Heat Exchanger Market held the largest market share, and the Indian Microchannel Heat Exchanger Market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: Microchannel Heat Exchanger Market Share By Region 2022 (USD Billion)

Microchannel Heat Exchanger Market Share

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Microchannel Heat Exchanger Market accounts for the second-largest market share due to the low labor costs in the region. Further, the German Microchannel Heat Exchanger Market held the largest market share, and the UK Microchannel Heat Exchanger Market was the fastest growing market in the European region

The North America Microchannel Heat Exchanger Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of the microchannel coil's minimum air pressure dips, a high duty/size ratio allows for a compact configuration, while reduced fan rotation rates provide low-noise operation..

Microchannel Heat Exchanger Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Microchannel Heat Exchanger Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Microchannel Heat Exchangerindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Microchannel Heat Exchanger industry to benefit clients and increase the market sector. In recent years, the Microchannel Heat Exchanger industry has offered some of the most significant advantages to medicine. Major players in the Microchannel Heat Exchanger Market, including Climatel SL (Spain), Danfoss (Denmark), Zhejiang DUNAN Artificial Environment co., LTD (China), Sanhua (US), Vacuum Process Engineering (US) and others, are attempting to increase market demand by investing in research and development operations.

Carrier Corporation is a worldwide American corporation based in Palm Beach Gardens, Florida that manufactures heating, ventilation, and air conditioning (HVAC), refrigeration, and fire and security systems. Carrier began as an independent firm manufacturing and marketing HVAC systems in 1915, and has since expanded to encompass commercial refrigeration and food service equipment, as well as fire and security technologies. In 2021, Sanhua has joined the Carrier Alliance programme and entered a long-term strategic collaboration with Carrier, according to Carrier Corporation. Sanhua will offer designed components, such as heat exchangers and drives, throughout Carrier's HVAC and Refrigeration portfolios under the terms of the deal.

Alfa Laval AB is a Swedish corporation founded in 1883 by Gustaf de Laval and Oscar Lamm. The company, which began by offering centrifugal separation solutions for dairy (see Separator (milk)), today produces specialised equipment and solutions for heavy industry. The goods are used to heat, cool, segregate, and convey oil, water, chemicals, drinks, foodstuffs, starch, and medications. In March 2022,  Alfa Laval, a pioneer in critical heat transfer, separation, and fluid handling technologies, has introduced a gasket plate heat exchanger that is likely to have an impact on a variety of applications. The TS45 is the most advanced exchanger on the market, providing both performance and versatility.

Key Companies in the Microchannel Heat Exchanger market include

  • 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. Lid. (China)

  • Sanhua (U.S.)

  • Vacuum Process Engineering (U.S.)

  • Sumitomo Precision Products Co. Ltd. (Japan)

Microchannel Heat Exchanger Industry Developments

In May 2021: Vacuum Processing Engineering Inc., a microchannel heat exchanger producer, announced a supply collaboration with Sandia National Laboratories and the United States Department of Energy (DOE). Vacuum Processing Engineering Inc. created the next generation of heat exchangers for concentrating solar thermal plants as part of this collaboration.

In September 2021: Danfoss has unveiled a new line of microchannel heat exchangers for low-density alternative refrigerants. The solution tackles a design difficulty for OEMs switching to lower GWP refrigerants like R1234ze and R515B, especially in big air-cooled chillers that use screw and centrifugal compression. Because of the low density of these refrigerants, system performance is sensitive to pressure drops.

In July 2021: Kaltra strengthened its manufacturing skills by investing in manufacturing equipment. In 2023, the company will install core builders with bulk-hopper type tube loading systems, fin mills with louvre slitting forming rolls, ultrasonic cleaning machines, extruders, and test equipment, increasing manufacturing capacity by 20%.

Microchannel Heat Exchanger Market Segmentation

Microchannel Heat Exchanger Market By Type Outlook

  • Heat Pump

  • Chiller

  • Air Handling Unit

  • Fan Coil Unit

  • Others

Microchannel Heat Exchanger Market By Phase Outlook

  • Single Phase

  • Double Phase

Microchannel Heat Exchanger Market By End-User Outlook


  • Food Processing

  • Refrigerated Transport

  • Power

  • Others

Microchannel Heat Exchanger Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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