Global Microchannel Heat Exchanger Market Scenario

The most influential factor elevating the global microchannel heat exchanger market growth is a growing demand for MCHE manufacturing sector, residential sector, and commercial sector. These sectors are growing due to the increase in commercialization and urbanization. The second factor for market growth includes growth in the construction sector and manufacturing industry. Increase in industrial production is also contributing to the market growth.

The Global Microchannel Heat Exchanger (MCHE) Market is expected to be valued at USD 2,343.9 million by 2023 with a CAGR of 8.72% during the forecast period (2018–2023).

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The report covers segmentation and the market dynamics for a better glimpse of the market in the coming years. The microchannel heat exchanger are multi-pass parallel flow heat exchangers that comprise three parts namely, manifolds, multi-port tubes with less than 1 mm hydraulic diameter, and fins. These devices are used to heat or cool fluids by transferring heat between two or more fluids. MCHEs are highly efficient with the refrigerant flowing in microchannels. Increase in manufacturing industry, residential, and commercial application owing to commercialization and urbanization, drive the MCHE market during the forecast.

Segmental Analysis

The global microchannel heat exchanger market segmentation covers application, industry, and phase.

The application-based segmentation of this market covers chiller, condenser, evaporator, and heat pump. During the forecast period, the heat pump segment is expected to dominate the market.

In the context of industry, the market has been segmented into commercial, food processing, power, rail, refrigerated, residential, sea, transport road, and others. The “others” segment covers chemicals, electronics, metals & mining, oil & gas, and steel industries. During the forecast period, the commercial segment is expected to dominate the market.

Based on the phase, the market has been segmented into single-phase and two-phase. During the forecast period, the single-phase segment has been projected to lead the market growth.

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Regional Segmentation

The regional segmentation of the global microchannel heat exchanger market covers Asia Pacific, Europe, North America, and Rest of the World (RoW).

During the forecast period, the Asia Pacific region is expected to hold the largest market share in the global market. The market is also surging due to the rising application of MCHE in industrial manufacturing processes. India and Japan are two other important country-specific markets in this region.

Europe stands with the second largest market share due to the presence of many major industrial manufacturers in this region. Other factors intensifying the market growth in this region include major industrialization projects and surging manufacturing operations due to which the demand for HVAC systems is increasing.

North America is contributing remarkably to the global market due to the industrialized economy and technological advancement. Major market players are mostly based in the USA. The other two significant markets in this region are Canada and Mexico.

The RoW segment covers South America and the MEA region. In South America, the market is lower than in North America due to limited technological advancement. In the MEA region, the market is low due to the limited availability of technology.

Microchannel Heat Exchanger Market Leading Players:

Prominent players profiled in the microchannel heat exchanger market are Kaltra (Germany), Welcon Inc (Japan), Shanghai Shenglin M&E Technology Co Ltd (China), Evapco Inc (US), Climetal SL (Spain), Modine Manufacturing Company (US), Danfoss (Denmark), Zhejiang DUNAN Artificial Environment Co Ltd (China), Sanhua (US), Vacuum Process Engineering (US), and Sumitomo Precision Products Co Ltd (Japan).

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