Global Microchannel Heat Exchanger Market Is Expected to Reach USD 18,264.2 Million In 2026

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Global Microchannel Heat Exchanger Market Is Expected to Reach USD 18,264.2 Million In 2026
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 micro structured 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.
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.
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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 dominate 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, less refrigerant requirement, 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.
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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 price.
 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 cumbersome microchannel heat exchanger to meet the growing demand for compact products and lightweight components in the HVAC installations.
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Company Profiles and Competitive Intelligence:
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),
·        Sumitomo Precision Products Co Ltd (Japan)
·        among others.
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