Showing posts with label Microchannel Heat Exchanger Market Opportunities. Show all posts
Showing posts with label Microchannel Heat Exchanger Market Opportunities. Show all posts

Wednesday, 11 December 2019

Global Microchannel Heat Exchanger Market to Grow at 8.72% CAGR Between 2017 and 2024


A heat exchanger is a device that is designed so to efficiently transfer or "exchange" heat from one matter to the another.  In this process, when a fluid is used to transfer heat, it can be water or oil or air. Thus, the most well-known type of heat exchanger is a car radiator.
The exchangers are one of the most important and widely used as a process equipment in various industrial sites. Regardless of the particular industry in mention, it will likely require some type of temperature regulation, and for that exchangers are likely to come into play in the future. The exchangers may be used for either heating or cooling, however, in the industrial sector, they are overpoweringly used for cooling particularly within plants and refineries.
Let us dive a little deeper into what heat exchanger are, their need, working and functioning, and how they are classified.

Why Are Heat Exchangers Needed?
Heat exchangers are broadly used and have various range in industrial applications. They are used as components of air conditioning and cooling systems or of heating systems. A lot of industrial processes call for the heat exchanger for the function of heat, however, mainly an essential care must be taken to keep these processes from getting too hot.
The heat exchangers in the industrial plants and factories are required to keep machinery, chemicals, water, gas and other things in a safe zone while operating a particular temperature. Apart from this, the heat exchangers may also be used to capture and transfer steam or heat exhaust that is released as a byproduct from a process or operation such that the steam or heat can be put for a better use elsewhere. Thus, this increasing efficiency and saving the plant money is what heat exchangers server for. And, due to this, the heat exchangers are essential in industries across the world.


Process of Heat Exchange
The heat exchanger classification method mainly refers either to the heat, that is being exchanged on a direct note, or whether they are separated by a physical barrier, such as the walls of their tubes.
Direct Contact Heat Exchangers – When talking about direct contact heat exchangers, these tend to bring the hot and cold fluids into the direct contact with each other in the tubes itself. This process is extremely effective means of transferring heating in a direct way, as it is considered to be safe and is desired to be processed in almost every industry, across the world. Further, direct contact heat exchangers may be a good choice if the hot and cold fluid are merely different temperature variations of the same fluid, or if the fluid mixture is a desired or irrelevant part of the industrial process.
Indirect Contact Heat Exchangers – In the indirect contact heat exchangers process, the hot and cold fluids are kept physically separated from each other. Typically, indirect contact heat exchangers keep the hot and cold fluids in different sets of pipes and rely on radiant energy and convection to exchange the heat. This is frequently done to avoid contamination or pollution of one fluid by the other.

Thursday, 21 November 2019

Global Microchannel Heat Exchanger Market to Enlarge by 2024 Due to Growing Demand from Construction Sector


Global Microchannel Heat Exchanger (MCHE) Market Synopsis:
As per Market Research Future’s (MRFR’s) analysis, the global microchannel heat exchanger market can witness a remarkable expansion for this market at 8.72% CAGR between 2017 and 2024. By value, the market can be worth the USD 2,343.8 mn by the end of the forecast period. The microchannel heat exchanger (MCHE) is defined as multi-pass parallel-flow heat exchangers that comprise three parts. These parts are manifolds, multi-port tubes with less than 1 mm hydraulic diameter, and fins. These devices can heat or cool fluids by transferring heat between two or more fluids.
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.


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 expected to grow at 9.57% CAGR, with China being the biggest country-specific market worth USD 184.2 mn. In this region, the market is growing due to increasing heating, ventilation, & air conditioning (HVAC) installations at commercial complexes and residential complexes. 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.
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.
Europe stands with the second largest market share due to the presence of many major industrial manufacturers in this region. Major country-specific markets in this region are France, Italy, Germany, and the UK.


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

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.


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