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.

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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 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.

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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.

Also Read: https://www.marketwatch.com/press-release/microchannel-heat-exchanger-market-2019-business-development-history-current-scenario-top-players-sales-revenue-growth-factor-and-industry-poised-for-rapid-growth-by-2024-2019-10-21

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