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Microchannel Heat Exchanger Market Size, Growth Analysis & Forecast To 2026
Microchannel heat exchanger is multi-pass parallel-flow heat exchangers and known as Micro-scale heat exchangers or microstructure heat exchangers. It comprises of manifolds, multi-port tubes, and fins. These are used to heat or cool fluids by transferring heat and widely accepted in the applications of air conditioning, heat pump, and engine, where space is a constraint. They adopted in the various end-use industry, namely, construction, automobile, and power generation industry.
Global microchannel heat exchanger market was valued at USD 9,429.2 million in 2018 and is expected to reach USD 18,264.2 million in 2026, growing at a CAGR of 8.8% from 2019 to 2026.
The growing implementation of energy efficiency regulations and stringent emission standards across the automotive and power industry and high demand for microchannel heat exchanger in the automotive HVAC system are expected to drive the growth of the market. The evolution of electric vehicles will enhance the demand for thermal management systems, which expected to further create demand for microchannel heat exchanger in the application of automotive HVAC. ...
The automotive industry is creating demand for mini-sized component demand owing to space constraint and compact vehicle size. However, volatile prices of raw metals and highly complex and expensive manufacturing are expected to hamper the growth of the global microchannel heat exchanger market during the forecast period. The production of the low-cost product in the Asia-Pacific market is the major challenge for the companies to cater to the demand from other regions
• Water Coil
• Single Phase
• Two Phase
• Air Conditioning
• Heat Pump
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The major players operating in the global microchannel heat exchanger market are Modine Manufacturing Company (US), Danfoss (Denmark), Zhejiang DUNAN Artificial Environment Co Ltd (China), Sanhua (US), Vacuum Process Engineering (US), Shanghai Shenglin M&E Technology Co Ltd (China), Evapco Inc (US), Climetal SL (Spain), Kaltra Innovativtechnik GmbH (Germany), and Sumitomo Precision Products Co Ltd (Japan) among others.
Asia-Pacific accounted for more than 40% share of the global microchannel heat exchanger market in 2018 and is expected to dominate the market throughout the forecast period. The large population countries in the region such as China and India, although Japan and China are major technology innovators in the world. China accounted for the largest share in the Asia-Pacific market, owing to the presence of huge automotive and HVAC industries.
North America is expected to hold the highest CAGR in the global market. Manufacturers are investing in the development to innovate the designing of a cumbersome microchannel heat exchanger to meet the growing demand for compact products and lightweight components in the HVAC installations.
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