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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Microchannel Heat Exchanger Market Outlook
The global microchannel heat exchanger market size is expected to achieve USD 56.81 billion by 2032, growing at a CAGR of 13.2% between 2024 and 2032. The microchannel heat exchanger market is being driven by the growing automotive industry due to an increase in automotive manufacturing, globally.
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The Asia Pacific is the leading regional market in the industry. India and China, especially, account for a significant proportion of the industry in the Asia Pacific region. The microchannel heat exchanger industry in the two countries is being driven by their robust automotive industry. The rapidly growing economies of the countries are also aiding the industry growth. The industry is also expected to see a healthy growth in Japan and South Korea driven by the rising production of automobiles in these countries.
Market Segmentation
The microchannel heat exchanger industry can be divided on the basis of segments like type and application. The industry can be broadly categorised according to its application segments into:
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- Automotive
- HVAC
- Residential AC
- Commercial AC
- Precision Cooling
- Commercial Refrigeration
- Stationary Refrigeration
- Transport Refrigeration
- Cold Storage
- Others
Condenser, evaporator, and water coil are the common types of microchannel heat exchanger, with condenser being the leading type. The EMR report looks into the regional markets of microchannel heat exchanger like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.
Market Analysis
The microchannel heat exchanger industry is being driven by the rising energy efficiency regulations and stringent emission standards across the globe. The industry is also finding impetus for its growth in the increasing demand for lightweight electronic appliances. The high demand for the product in the growing HVAC industry is also driving the industry. HVAC is expected to be the leading application sector for microchannel heat exchanger. The product is finding rising use in HVAC products like air conditioners and in heat pumps in refrigerators. Water coil and condenser types of the product are projected to witness a robust growth in the coming years.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global microchannel heat exchanger market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Sanhua (Hangzhou) Micro Channel Heat Exchanger Co., Ltd
- EVAPCO, Inc.
- MAHLE GmbH
- Modine Manufacturing Company
- Goldstone HVACR Inc.
- ThermoKey S.p.A.
- Kaltra Innovativtechnik GmbH
- API Heat Transfer Inc.
- Climetal S.L.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global microchannel heat exchanger market is projected to grow at a CAGR of nearly 13.2% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 56.81 billion by 2032.
The major drivers of the industry include the rising disposable incomes, increasing population, rising automotive industry, and the rising demand for lightweight electronic appliances.
The rising energy efficiency regulations and stringent emission standards are expected to be the key trends guiding the growth of the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with the Asia Pacific accounting for the largest market share.
The leading types of microchannel heat exchanger in the market are condenser, evaporator, and water coil.
The significant application segments in the market are automotive, HVAC, and commercial refrigeration, among others.
The leading players in the market are Sanhua (Hangzhou) Micro Channel Heat Exchanger Co., Ltd , EVAPCO, Inc., MAHLE GmbH, Modine Manufacturing Company, Goldstone HVACR Inc., ThermoKey S.p.A. , Kaltra Innovativtechnik GmbH, API Heat Transfer Inc. , Climetal S.L., Others.
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