Global Microchannel Heat Exchanger Market Report and Forecast 2024-2032

Global Microchannel Heat Exchanger Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the global microchannel heat exchanger market is projected to grow at a CAGR of 13.2% between 2024 and 2032. Aided by the re-emergence of traditional shaving practices and the widespread appeal for a closer and more luxurious shaving experience, the market is expected to grow significantly by 2032.

Microchannel heat exchangers are compact heat exchangers that feature multiple parallel channels, offering a large surface area for heat transfer. These exchangers are known for their high efficiency, low refrigerant charge, and reduced weight compared to traditional heat exchangers. They are predominantly used in HVAC systems, automotive air conditioning, and in refrigeration applications due to their ability to efficiently handle phase changes of the working fluid.

A rising global emphasis on energy conservation and sustainability has primarily fuelled the microchannel heat exchanger market growth. With the increasing energy costs and environmental concerns associated with greenhouse gas emissions, industries and consumers alike are leaning towards technologies that minimise energy wastage. Microchannel heat exchangers, with their compact design and high-efficiency levels, perfectly fit this requisite, leading to their growing integration into modern cooling and heating systems.

Another major driver for the microchannel heat exchanger market demand is the ongoing innovation in the automotive sector. As the automotive industry continually evolves, there is an inherent need for lightweight, efficient, and compact components. The automotive sector relies on MCHEs for vehicle air conditioning systems, given their advantages over traditional systems in terms of size, weight, and performance.

In the HVAC domain, particularly in large commercial spaces, there's a surging demand for systems that can maintain optimal indoor air quality and temperature with minimal energy expenditure. Microchannel heat exchangers, owing to their high surface area-to-volume ratio, have proven effective in meeting these stringent requirements, thereby witnessing a surge in demand.

According to the microchannel heat exchanger market analysis, the refrigeration sector, which is central to various industries like food and beverages, pharmaceuticals, and logistics, is undergoing a transformation. As industries aim to achieve better cooling efficiency with a lower environmental footprint, MCHEs are becoming a pivotal component of next-generation refrigeration solutions.

The growing urbanisation, coupled with the increasing disposable income in emerging economies, has led to a spurt in demand for residential and commercial HVAC systems. With consumers becoming more conscious about energy savings and system efficiency, the adoption of MCHE-based systems is on an upward trajectory.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type
  • Condenser
  • Evaporator
  • Water Coil
Market Breakup by Application
  • Automotive
  • HVAC
Residential AC

Commercial AC

Precision Cooling
  • Commercial Refrigeration
Stationary Refrigeration

Transport Refrigeration

Cold Storage
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global microchannel heat exchanger market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Sanhua (Hangzhou) Micro Channel Heat Exchanger Co., Ltd
  • EVAPCO, Inc.
  • Modine Manufacturing Company
  • Goldstone HVACR Inc.
  • ThermoKey S.p.A.
  • Danfoss Industries Pvt. Ltd.
  • Kaltra Innovativtechnik GmbH
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Microchannel Heat Exchanger Market Analysis
8.1 Key Industry Highlights
8.2 Global Microchannel Heat Exchanger Historical Market (2018-2023)
8.3 Global Microchannel Heat Exchanger Market Forecast (2024-2032)
8.4 Global Microchannel Heat Exchanger Market by Type
8.4.1 Condenser
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Evaporator
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Water Coil
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Microchannel Heat Exchanger Market by Application
8.5.1 Automotive
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 HVAC
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.2.3 Breakup by Type
8.5.2.3.1 Residential AC
8.5.2.3.2 Commercial AC
8.5.2.3.3 Precision Cooling
8.5.3 Commercial Refrigeration
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.3.3 Breakup by Type
8.5.3.3.1 Stationary Refrigeration
8.5.3.3.2 Transport Refrigeration
8.5.3.3.3 Cold Storage
8.5.4 Others
8.6 Global Microchannel Heat Exchanger Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Microchannel Heat Exchanger Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Microchannel Heat Exchanger Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Microchannel Heat Exchanger Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Microchannel Heat Exchanger Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Microchannel Heat Exchanger Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code- 841950)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Sanhua (Hangzhou) Micro Channel Heat Exchanger Co., Ltd
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 EVAPCO, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Modine Manufacturing Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Goldstone HVACR Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 ThermoKey S.p.A.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Danfoss Industries Pvt. Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Kaltra Innovativtechnik GmbH
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Microchannel Heat Exchanger Market: Key Industry Highlights, 2018 and 2032
2. Global Microchannel Heat Exchanger Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Microchannel Heat Exchanger Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Microchannel Heat Exchanger Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Microchannel Heat Exchanger Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Microchannel Heat Exchanger Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Microchannel Heat Exchanger Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Microchannel Heat Exchanger Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Microchannel Heat Exchanger Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Microchannel Heat Exchanger Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Microchannel Heat Exchanger Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Microchannel Heat Exchanger Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Microchannel Heat Exchanger Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Microchannel Heat Exchanger Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Microchannel Heat Exchanger Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Microchannel Heat Exchanger Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Microchannel Heat Exchanger Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Major Exporting Countries by Value
19. Major Importing Countries by Value
20. Major Exporting Countries by Volume
21. Major Importing Countries by Volume
22. Global Microchannel Heat Exchanger Market Structure

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