Microchannel heat exchangers (MCHEs) are advanced thermal management devices characterized by their compact design and high efficiency. They consist of multiple small channels, typically less than one millimeter in diameter, through which fluids flow to facilitate heat transfer. This design enables superior thermal performance and a reduced footprint compared to traditional heat exchangers.
The microchannel heat exchanger market consists of sales, by entities (organizations, sole traders, or partnerships), of microchannel heat exchanger that are used across a wide range of industries, including automotive, heating, ventilation and air conditioning (HVAC) and commercial refrigeration and other specialized industries. These exchangers are essential in compact, lightweight and highly efficient heat transfer solutions.
The global microchannel heat exchanger market was valued at $10,485.73 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 6.00%.
Strong Economic Growth In Emerging Markets
Economic growth drove the growth of the microchannel heat exchanger market during the historic period. Economic growth positively impacts microchannel heat exchangers by driving higher demand for advanced, energy-efficient technologies in industries such as automotive, HVAC (heating ventilation and air conditioning) and electronics, which require improved cooling solutions. For example, in 2022, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, in India, GDP growth rate in 2022 was 7.00%, representing a change of $193.4 billion over 2021. Further, according to Macrotrends, a US-based research platform that enables users to screen and research stocks, commodities, precious metals, oil, gas and global metrics, the GDP (gross domestic product) growth rate for South Korea in 2021 was 4.15%, an increase of 4.85% from 2020. Therefore, economic growth drove the microchannel heat exchanger market during the historic period.
Strategic Expansion Of Manufacturing Facilities
Major companies operating in the microchannel heat exchanger market are focusing on expanding manufacturing facilities to fulfill the demand for their microchannel heat exchanger (MCHE) devices worldwide. Manufacturing facilities are specialized industrial sites equipped with machinery, tools and labor to produce goods, components, or finished products on a large scale. For instance, in November 2024, Kaltra, a Germany-based thermal management technology company, opened a 32,400 m2 manufacturing facility for microchannel heat exchanger (MCHE) products. The new facility will feature cutting-edge production equipment, including fin mills, high-performance automatic and semi-automatic core builders, controlled atmosphere brazing (CAB) furnaces and advanced test and inspection systems. This expansion is designed to optimize manufacturing processes, ensure superior product quality and enhance cost efficiency. By investing in this strategic development, Kaltra reinforces its leadership in microchannel coil technology and its commitment to meeting the growing demands of global industries.
The global microchannel heat exchanger market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.5% of the total market in 2023.
Microchannel Heat Exchanger Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global microchannel heat exchanger market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for microchannel heat exchanger? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The microchannel heat exchanger market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider microchannel heat exchanger market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by material type, by fluid mechanism and by end-use industry.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the microchannel heat exchanger market.
- Global Market Size And Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by material type, by fluid mechanism and by end-use industry in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major pl Competitive Dashboard Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies: Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations: This section includes recommendations for microchannel heat exchanger providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- 1)By Type: Air Handling Units; Heat Pumps; Fan Coil Units; Other Types
- 2)By Material: Metal; Ceramic
- 3)By Fluid Mechanism: Single Coil; Dual Coil; Multi Coil
- 4)By End-User Industry: Automotive; Heating, Ventilation And Air Conditioning (HVAC); Commercial Refrigeration; Other End-Use Industries
- Companies Mentioned: Alfa Laval AB; Zhejiang DUNAN Artificial Environment Co. Ltd; Daikin Industries Ltd; API Heat Transfer Inc; Danfoss A/S
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; microchannel heat exchanger indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.