Microchannel Heat Exchanger Market is predicted to reach USD 3261.45 Million at a CAGR of 6.8% during the forecast period

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Microchannel Heat Exchanger Market.

Global Microchannel Heat Exchanger Market

MCHEs are multi-pass parallel-flow heat exchangers that comprise three parts, namely, manifolds, multi-port tubes with less than 1 mm hydraulic diameter, and fins. These devices are used to heat or cool fluids by transferring heat between two or more fluids in residential and commercial air conditioning systems and refrigeration equipment. The heat exchangers are highly efficient, with the refrigerant flowing in microchannels. MCHE products have applications in various industries, including automotive, oil & gas, and chemical processing.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Microchannel Heat Exchanger Market Research Report

Microchannel Heat Exchanger Market Synopsis

According to the MRFR analysis, the Global Microchannel Heat Exchanger market size is projected to reach USD 3261.45 million by 2030 at a CAGR of 6.8%.

The global Microchannel Heat Exchanger market demand is driven by the rise in demand for microchannel heat exchangers (MCHEs) in the manufacturing industry and the rapid growth in the global construction industry. Moreover, technological advancements in MCHEs have fueled market growth. However, volatile raw material prices can restrain the growth of the microchannel heat exchanger market. Furthermore, the shift from HVAC coils to MCHE is expected to form future opportunities for the Microchannel Heat Exchanger market growth.

COVID-19 has had a massive global influence, affecting practically every person, corporation, and Microchannel Heat Exchanger market. The outbreak wiped out many worldwide supply lines and brought many businesses to face severe financial losses and go bankrupt. Stay-at-home orders generated a surge in demand for remote working platforms, and the tech industry saw some of the most dramatic developments as a result. However, microchannel heat exchanger manufacturers stayed open, thereby offering maintenance services in different ways. Logistics delays and challenges have impacted transport, which caused further disruptions in the supply chain processes. These factors caused the supply chain of MCHE system components to cause delay and, in turn, hampered the adoption to some extent. Additionally, the scarcity of materials used in transmission lines and workers' unavailability created havoc in the Microchannel Heat Exchanger market.

Microchannel Heat Exchanger Market Competitive Landscape

The global Microchannel Heat Exchanger market has witnessed significant growth over the forecast period. There are several domestic, regional, and global players operating in the Microchannel heat exchanger market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the global Microchannel heat exchanger market who have contributed to the Microchannel Heat Exchanger market growth.

Kaltra, Welcon Inc., Shanghai Shenglin M&E Technology Co., Ltd., Evapco Inc., Climatel SL, Danfoss, Zhejiang DUNAN Artificial Environment co., LTD, Sanhua, Vacuum Process Engineering, Sumitomo Precision Products Co., Ltd, and Modine Manufacturing Company are the major players in the Microchannel Heat Exchanger market.

Microchannel Heat Exchanger Market Segmentation:

Based on Type:

• Heat Pump: A heat pump system takes air from your chamber's return and heats or cools it before redistributing it through the supply ducts. It is a type of refrigeration system pump that uses outside air to heat or cool a specific area for purposes such as drying, washing, and pasteurization. The pump offers a high system efficiency, low noise levels, low energy usage, and up to a 70% reduction in refrigerant charge.


• Chiller: A heat exchanger chiller system uses a device to transfer heat between different fluids. To remove heat generated by a heated operation, thermal exchange chillers can employ air or a mixture of liquids as coolants. Chillers are refrigeration devices that use a vapor-compression or absorption refrigeration cycle to extract heat from a liquid. With 70 percent less refrigerant charge and 50 percent less weight than a conventional heat exchanger, microchannel technology has boosted chiller efficiency, lowered condensing temperature, and reduced compressor power.


• Air Handling Unit: The appropriate ventilation requirements for purifying, air-conditioning, or replenishing the interior air in a building are housed in an air handling unit (AHU), which comprises elements mounted in large, accessible box-shaped units called modules. The unit serves various purposes along with ensuring proper ventilation of the interior with outside air. These include filtering and controlling the quality of the air that enters the interiors through air purification filters (the air will be clean depending on how long these filters are retained), controlling the air temperature, which regulates the air conditioning system in cold or hot conditions to achieve the desired thermal sensation in the interior, and monitoring relative humidity for improved indoor comfort.


• Fan Coil Unit: A fan coil unit (FCU) is a device that heats or cools a room without the use of ductwork by using a coil and a fan. Indoor air passes through the coil, which heats or cools it before returning it to the room. FCUs are available in ceiling, floor-mounted, and freestanding forms and can be less expensive to install than ducted systems. A fan coil unit (FCU) is a device that consists of a heat exchanger (coil) and a fan. It is also known as a Vertical Fan Coil-Unit (VFC).


• Others: Other types of heat exchanger devices include fans & blowers, dampers, and filters. Fans and blowers are both mechanical devices that circulate air. They are distinguished from one another by the fact that a fan circulates air throughout a room or space, whereas a blower solely focuses on a specific or specified area. A blower is a mechanical device that comprises a fan and channels the air from the fan to a specific position or point. A fan is an electrical device that moves air, but a blower is a mechanical device that consists of a fan and channels the air from the fan to a specific location or point.

Based on Phase:

• Single Phase: Single-phase heat exchangers are commonly employed in equipment for a wide range of cooling and heating applications. These include free cooling systems, dry coolers, air conditioners, and more, with water or glycol mixes as the most prevalent media. In MCHEs, single-phase heat transfer occurs when the liquid fluid in the microtubes follows the path of the single phase.


• Double phase: The mechanism of heat transfer in MCHEs when the liquid fluid in the microtubes follows a two-phase path is known as two-phase heat transfer. When the latent heat of vaporization is released during the phase-change process, a two-phase heat exchanger transmits thermal energy between two fluids. Low thermal resistance, small flow rate, coolant inventory, and stream-wide temperature uniformity are all possible with this approach. Two-phase MCHEs have applications in the electronic cooling, power & process, air conditioning, industrial refrigeration, and food & beverage industries.

Based on End-User:

• HVACR: Microchannel heat exchangers are used in HVACR systems to improve equipment efficiency, reduce equipment size & weight, and cut the overall costs of an HVAC system. Furthermore, these heat exchangers aid in increasing an air conditioning system's cooling capacity and overall efficiency. These heat exchangers' unique circuit design helps reduce internal pressure loss by more than 65 percent, lowering compressor energy consumption significantly.


• Food Processing: MCHEs are used in the food and processing industry for applications such as heating, compressors, air conditioning, fuel heaters (natural gas, heavy fuel oil, evaporator-condenser, retail food storage, bottle cooling, heat transfer oil, and superheated water), evaporator-condenser, retail food storage, bottle cooling, heat transfer oil, and superheated water. The heat exchangers are widely used to cool or heat various items, including hazelnut paste and other forms of food pastes before they may be processed further.


• Refrigerated Transport: Due to their diverse range of capabilities spanning from half a ton to 40 tons, MCHEs are also commonly used in refrigerated transport applications. They are widely utilized in logistics and transportation applications for refrigeration and air conditioning. It is also found in the cooler of railway vehicles' primary electric converter-inverter unit and hydraulic oil coolers for construction machines. It also offers high-capacity transportation goods that give more cargo space, lower fuel costs, and improved operating efficiency.


• Power: MCHEs are widely used in the power generation industry for applications such as generator cooling, oil coolers for static and mobile transformers, fuel cells, heat recovery for gas engines, oil coolers for gas turbines, and heat transfer, resulting in increased heat transfer per unit volume and a higher heat transfer coefficient.


• Others: The others segment includes the chemicals, electronics, metals & mining, oil & gas, and steel industries, where MCHEs are increasingly being used. MCHEs are used to recover waste heat from gas-fueled furnaces, flue gases, recirculating air in kilns, glass melting and metal melting furnaces, and various other industrial operations in the chemical and processing industries. It is also used in petrochemical plants, LNG regasification plants, natural gas liquefaction plants, ethane recovery plants, LNG cold recovery plants, IGBT cooling for motor drive systems, air separation units, helium liquefaction plants, hydrogen refueling stations, and hydrogen production plants, among other applications.

Based on region:

• North America: North America is the most significant revenue contributor to the global microchannel heat exchanger market. The burgeoning construction sector and rising demand for autos are driving the expansion of the microchannel heat exchanger market in North America. Cold and warm weather conditions are common in North American countries, necessitating the installation of HVAC systems in their infrastructure. During the projected period, demand for HVAC systems is expected to rise significantly as the region's population expands. Furthermore, because the automobile industry in North America is one of the world's largest, there is a considerable demand for automotive thermal management systems.


• Europe: Due to the frigid temperature in Europe, a substantial number of HVAC systems have been built in both residential and commercial complexes. Furthermore, several of the world's largest industrial manufacturers, such as Bosch, Rolls-Royce plc, and Danfoss, are based in Europe and sell their products worldwide. The demand for most of these companies' products has been steadily increasing, resulting in expanding industrial infrastructure in the region. This factor is expected to considerably increase the demand for industrial thermal management systems over the next few years, thereby driving the growth of the microchannel heat exchanger market in Europe during the forecast period.


• Asia-Pacific: Asia-Pacific is one of the world's fastest-growing regions in Microchannel Heat Exchanger market, and it is predicted to continue rising during the forecast period. Due to the low labor costs in the region, the industrial sector has risen significantly. Furthermore, as the economy of these countries develops, so will individual discretionary income. As a result of this aspect, demand for commercial and residential HVAC systems in the region will rise. These factors are expected to drive the growth of the microchannel heat exchanger market in the region during the forecast period.


• Middle East and Africa: The Middle East & Africa comprises the countries of Oman, Saudi Arabia, the UAE, Egypt, and South Africa. The region's oil-rich countries are actively investing in modern infrastructure. Moreover, the region's industrial sector would expand substantially during the forecast period. Installations of HVAC systems are expected to increase in the region during the forecast period, which will drive the Microchannel Heat Exchanger market growth during the study period.


• South America: South America comprises Argentina, Brazil, Venezuela, and Ecuador. As labour prices in South America are lower than in North America, manufacturing processes are increasingly being outsourced to South America. The industrial sector in the region is likely to expand as demand for produced goods rises. Additionally, as the region's economies improve, so will individual per capita income. This results in an increased demand for residential and commercial HVAC systems over the forecast period. These factors are expected to drive the growth of the microchannel heat exchanger market in South America during the forecast period.