Microchannel
Heat Exchanger Market Analysis
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).
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
Extensive research of the microchannel heat exchanger
market segments the market by application, industry, and phase.
On the basis of application, the microchannel heat
exchanger market can be segmented into chiller, heat pump, condenser, and
evaporator. The heat pump segment is dominating the market with a value of USD
563.0 million in 2018 and can go up to USD 887.5 Million by 2023. Meanwhile,
the chillers segment is also expected to have a CAGR of 8.83% during the
forecast period.
On the basis of industry, the microchannel heat
exchanger market is comprised of residential, commercial, refrigerated
transport, food processing, power, and others. The refrigerated transport
segment is further segmented into road, sea, and rail. The commercial segment
is in the leading position and is valued at USD 346.4 Million in 2018, which
can go up to USD 516.7 million by 2023. The segment is expected to beat the
market at 8.32% CAGR during the forecast period.
On the basis of phase, the microchannel heat exchanger
market can be segmented into single-phase, and two phase. The single-phase
segment is dominating the market with a value of USD 855.3 million in 2018 and
can go up to USD 1,331.9 million by 2023. Meanwhile, the two-phase segment is
also expected to have a CAGR of 8.03% during the forecast period.
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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).
Regional Analysis
Geographic analysis of the microchannel heat exchanger
market covers North America, Europe, Asia-Pacific, and Rest of the World.
Asia-Pacific is leading the market with its market
value at USD 571.4 million in 2018.
The regional market value can go up to USD 902.4 million by 2023 with an impressive 9.57% CAGR during the forecast
period. The substantial increase in industrial sector owing to the low labor
costs and an increase in per capita disposable income are the major factor
contributing to the growth of the microchannel heat exchanger market. For
instance, in January 2019, Tesla announced that it started the construction of
a manufacturing unit in Shanghai, China, which is expected to produce
about 0.5 million (500
thousand) cars a year. The unit will be equipped with modern HVAC
systems for optimum operation of the facility. Such industrial developments in
the region would increase the demand for microchannel heat exchangers in
Asia-Pacific, which is expected to drive the microchannel heat exchanger market.
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