The 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 microchannel heat exchanger is multi-pass parallel-flow heat exchangers and also known as Micro-scale heat exchangers or microstructured 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.
Microchannel Heat Exchanger Market Segmentation |
|
| By Type | 1. Condenser |
| 2. Evaporator | |
| 3. Water Coil | |
| By Phase | 1. Single Phase |
| 2. Two Phase | |
| By Application | 1. Air Conditioning |
| 2. Heat Pump | |
| 3. Engine | |
| 4. Others | |
| By Region | 1. North America (US and Canada) |
| 2. Europe (UK, Germany, France and Rest of Europe) | |
| 3. Asia Pacific (China, Japan, India and Rest of Asia Pacific) | |
| 4. Latin America (Brazil, Mexico and Rest of Latin America) | |
| 5. Middle East & Africa (GCC and Rest of Middle East & Africa) | |
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.
The condenser dominated the market throughout the forecast period
Based on the type, the microchannel heat exchanger market has been segmented into condenser, evaporator, and water coil. The condenser segment accounted for approximately 54% of the share in the global microchannel heat exchanger market in 2018. The demand for the condenser is expected due to the high demand from automotive and residential and commercial systems, where there is a high adaptability rate of HVAC systems. Moreover, the increase in demand for compact design, fewer refrigerant requirements, and a high heat transfer rate is expected to further raise the demand for condenser type in the market.
While the water coil segment accounted highest CAGR of around 10.98% in the global microchannel heat exchanger market during the forecast period owing to the growing demand for low operational-type microchannel heat exchanger.
Based on the phase, the two-phase method segment is expected to grow at a CAGR of around 9.24% during the forecast period
Based on the phase, the market has been segmented into single-phase and two-phase. The two-phase segment accounts of the largest share in the market and expected to grow at a CAGR of around 9.24% over the forecast period owing to the increase in demand for energy efficiency products.
Based on the application, the air conditioning segment is expected to dominate during the forecast period
Based on the application, the market has been segmented into air conditioning, heat pump, engine, and others. The air conditioning segment accounts of the largest share in the market and held for more than 40% of the total market in 2018. The major factors that are driving the growth of this segment are an increase in demand for lightweight systems and rising copper prices.
Asia-Pacific to dominate the microchannel heat exchanger market throughout the forecast period
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.
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.
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Chapter 1 Executive Summary
1.1. Market Summary
1.1.1. Global Microchannel Heat Exchanger Market, 2016-2026, (USD Million)
1.2. Market Snapshot: Global Microchannel Heat Exchanger Market
1.3. Market Dynamics
1.4. Global Microchannel Heat Exchanger Market, by Segment, 2018
1.4.1. Global Microchannel Heat Exchanger Market, by Type, 2018, (USD Million)
1.4.2. Global Microchannel Heat Exchanger Market, by Phase, 2018, (USD Million)
1.4.3. Global Microchannel Heat Exchanger Market, by Application, 2018, (USD Million)
1.4.4. Global Microchannel Heat Exchanger Market, by Region, 2018 (USD Million)
1.5. Premium Insights
1.5.1. Microchannel Heat Exchanger Market In Developed Vs. Developing Economies, 2018 vs 2026
1.5.2. Global Microchannel Heat Exchanger Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1. Market Overview
2.2. Market Drivers
2.2.1. The growing implementation of energy efficiency regulations
2.2.2. Stringent emission standards across the automotive and power industry
2.2.3. High demand for microchannel heat exchanger in the automotive HVAC system
2.3. Market Restraints
2.3.1. Volatile prices of raw metals
2.3.2. Highly complex and expensive manufacturing
2.4. Market Opportunities
2.4.1. The evolution of electric vehicles will enhance the demand for thermal management systems
2.4.2. Increase demand for mini-sized component due to space constraint and compact vehicle size
2.5. Industry Value Chain Analysis
2.6. Pricing Analysis
2.7. Porter’s Five Forces Analysis
Chapter 3 Global Microchannel Heat Exchanger Market, by Type
3.1. Market Overview, by Type
3.1.1. Global Microchannel Heat Exchanger Market, by Type, 2016-2026 (USD Million)
3.1.2. Incremental Opportunity, by Type, 2018
3.2. Condenser
3.2.1. Global Microchannel Heat Exchanger Market, by Condenser, 2016-2026, (USD Million)
3.3. Evaporator
3.3.1. Global Microchannel Heat Exchanger Market, by Evaporator, 2016-2026, (USD Million)
3.4. Water Coil
3.4.1. Global Microchannel Heat Exchanger Market, by Water Coil, 2016-2026, (USD Million)
Chapter 4 Global Microchannel Heat Exchanger Market, by Phase
4.1. Market Overview, by Phase
4.1.1. Global Microchannel Heat Exchanger Market, by Phase, 2016-2026 (USD Million)
4.1.2. Incremental Opportunity, by Phase, 2018
4.2. Single-Phase
4.2.1. Global Microchannel Heat Exchanger Market, by Single-Phase, 2016-2026, (USD Million)
4.3. Two-Phase
4.3.1. Global Microchannel Heat Exchanger Market, by Two-Phase, 2016-2026, (USD Million)
Chapter 5 Global Microchannel Heat Exchanger Market, by Application
5.1. Market Overview, by Application
5.1.1. Global Microchannel Heat Exchanger Market, by Application, 2016-2026 (USD Million)
5.1.2. Incremental Opportunity, by Application, 2018
5.2. Air Conditioning
5.2.1. Global Microchannel Heat Exchanger Market, by Air Conditioning, 2016-2026, (USD Million)
5.3. Heat Pump
5.3.1. Global Microchannel Heat Exchanger Market, by Heat Pump, 2016-2026, (USD Million)
5.4. Engine
5.4.1. Global Microchannel Heat Exchanger Market, by Engine, 2016-2026, (USD Million)
5.5. Others
5.5.1. Global Microchannel Heat Exchanger Market, by Others, 2016-2026, (USD Million)
Chapter 6 Global Microchannel Heat Exchanger Market, by Region
6.1. Market Overview, by Region
6.1.1. Global Microchannel Heat Exchanger Market, by Region, 2016-2026, (USD Million)
6.2. Attractive Investment Opportunity, by Region, 2018
6.3. North America Microchannel Heat Exchanger Market
6.3.1. North America Microchannel Heat Exchanger Market, by Type, 2016-2026 (USD Million)
6.3.2. North America Microchannel Heat Exchanger Market, by Phase, 2016-2026 (USD Million)
6.3.3. North America Microchannel Heat Exchanger Market, by Application, 2016-2026 (USD Million)
6.3.4. United States Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.3.5. Canada Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.4. Europe Microchannel Heat Exchanger Market
6.4.1. Europe Microchannel Heat Exchanger Market, by Type, 2016-2026 (USD Million)
6.4.2. Europe Microchannel Heat Exchanger Market, by Phase, 2016-2026 (USD Million)
6.4.3. Europe Microchannel Heat Exchanger Market, by Application, 2016-2026 (USD Million)
6.4.4. United Kingdom Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.4.5. Germany Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.4.6. France Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.4.7. Rest of Europe Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.5. Asia Pacific Microchannel Heat Exchanger Market
6.5.1. Asia Pacific Microchannel Heat Exchanger Market, by Type, 2016-2026 (USD Million)
6.5.2. Asia Pacific Microchannel Heat Exchanger Market, by Phase, 2016-2026 (USD Million)
6.5.3. Asia Pacific Microchannel Heat Exchanger Market, by Application, 2016-2026 (USD Million)
6.5.4. China Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.5.5. Japan Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.5.6. India Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.5.7. Rest of Asia Pacific Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.6. Latin America Microchannel Heat Exchanger Market
6.6.1. Latin America Microchannel Heat Exchanger Market, by Type, 2016-2026 (USD Million)
6.6.2. Latin America Microchannel Heat Exchanger Market, by Phase, 2016-2026 (USD Million)
6.6.3. Latin America Microchannel Heat Exchanger Market, by Application, 2016-2026 (USD Million)
6.6.4. Brazil Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.6.5. Mexico Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.6.6. Rest of Latin America Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.7. Middle East & Africa Microchannel Heat Exchanger Market
6.7.1. Middle East & Africa Microchannel Heat Exchanger Market, by Type, 2016-2026 (USD Million)
6.7.2. Middle East & Africa Microchannel Heat Exchanger Market, by Phase, 2016-2026 (USD Million)
6.7.3. Middle East & Africa Microchannel Heat Exchanger Market, by Application, 2016-2026 (USD Million)
6.7.4. GCC Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
6.7.5. Rest of Middle East & Africa Microchannel Heat Exchanger Market, 2016-2026 (USD Million)
Chapter 7 Competitive Intelligence
7.1. Top 5 Players Comparison
7.2. Market Positioning of Key Players, 2018
7.3. Market Players Mapping
7.3.1. By Type
7.3.2. By Phase
7.3.3. By Application
7.3.4. By Region
7.4. Strategies Adopted by Key Market Players
7.5. Recent Developments in the Market
7.5.1. Mergers & Acquisitions, Partnership, New Product Developments
Chapter 8 Company Profiles
8.1. Modine Manufacturing Company
8.1.1. Modine Manufacturing Company Overview
8.1.2. Modine Manufacturing Company Products Portfolio
8.1.3. Modine Manufacturing Company Financial Overview
8.1.4. Modine Manufacturing Company News/Recent Developments
8.2. Danfosss
8.2.1. Danfosss Overview
8.2.2. Danfosss Products Portfolio
8.2.3. Danfosss Financial Overview
8.2.4. Danfosss News/Recent Developments
8.3. Zhejiang DUNAN Artificial Environment Co Ltd
8.3.1. Zhejiang DUNAN Artificial Environment Co Ltd Overview
8.3.2. Zhejiang DUNAN Artificial Environment Co Ltd Products Portfolio
8.3.3. Zhejiang DUNAN Artificial Environment Co Ltd Financial Overview
8.3.4. Zhejiang DUNAN Artificial Environment Co Ltd News/Recent Developments
8.4. Sanhua
8.4.1. Sanhua Overview
8.4.2. Sanhua Products Portfolio
8.4.3. Sanhua Financial Overview
8.4.4. Sanhua News/Recent Developments
8.5. Vacuum Process Engineering
8.5.1. Vacuum Process Engineering Overview
8.5.2. Vacuum Process Engineering Products Portfolio
8.5.3. Vacuum Process Engineering Financial Overview
8.5.4. Vacuum Process Engineering News/Recent Developments
8.6. Shanghai Shenglin M&E Technology Co Ltd
8.6.1. Shanghai Shenglin M&E Technology Co Ltd Overview
8.6.2. Shanghai Shenglin M&E Technology Co Ltd Products Portfolio
8.6.3. Shanghai Shenglin M&E Technology Co Ltd Financial Overview
8.6.4. Shanghai Shenglin M&E Technology Co Ltd News/Recent Developments
8.7. Evapco Inc
8.7.1. Evapco Inc Overview
8.7.2. Evapco Inc Products Portfolio
8.7.3. Evapco Inc Financial Overview
8.7.4. Evapco Inc News/Recent Developments
8.8. Climetal SL
8.8.1. Climetal SL Overview
8.8.2. Climetal SL Products Portfolio
8.8.3. Climetal SL Financial Overview
8.8.4. Climetal SL News/Recent Developments
8.9. Kaltra Innovativtechnik GmbH
8.9.1. Kaltra Innovativtechnik GmbH Overview
8.9.2. Kaltra Innovativtechnik GmbH Products Portfolio
8.9.3. Kaltra Innovativtechnik GmbH Financial Overview
8.9.4. Kaltra Innovativtechnik GmbH News/Recent Developments
8.10. Sumitomo Precision Products Co Ltd
8.10.1. Sumitomo Precision Products Co Ltd Overview
8.10.2. Sumitomo Precision Products Co Ltd Products Portfolio
8.10.3. Sumitomo Precision Products Co Ltd Financial Overview
8.10.4. Sumitomo Precision Products Co Ltd News/Recent Developments
Chapter 9 Preface
9.1. Data Triangulation
9.2. Research Methodology
9.2.1. Phase I – Secondary Research
9.2.2. Phase II – Primary Research
9.2.3. Phase III – Expert Panel Review
9.2.4. Approach Adopted
9.2.4.1. Top-Down Approach
9.2.4.2. Bottom-Up Approach
9.2.5. Supply- Demand side
9.2.6. Breakup of the Primary Profiles
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