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).
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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