Microchannel Heat Exchanger Market

The demand for microchannel heat exchangers (MCHE) is mainly driven by manufacturing industry, residential, and commercial application owing to an increase in commercialization and urbanization. Increase in construction, automobile, and power generation industry also drives the microchannel heat exchanger (MCHE) market.

The global microchannel heat exchanger market is projected to grow at 8.72% CAGR during the forecast period, 2018–2023. In 2017, the global MCHE market was led by Asia-Pacific with a 36.5% share, followed by Europe and North America with shares of 27.5% and 21.8%, respectively.

The global MCHE market has been segmented based on end item, application, end-use, phase, and region. On the basis of end item, the market has been segmented into chiller, heat pump, air handling unit, fan coil units, and others. The heat pump segment is expected to grow at the fastest rate during the forecast period. In 2017, the heat pump segment held 36.21% share of the global MCHE market. On the basis of application, the market has been segmented into, residential, commercial, and refrigerated transport. The commercial segment is expected to grow at the fastest rate during the forecast period. In 2017, the commercial segment held a 42.28% share of the global MCHE market. Based on end-use, the market is segmented as HVACR, refrigerated transport, food processing, power, and others. The HVACR segment held the largest market share of 36.51% in 2017. On the basis of phase, the market is further segmented into single-phase and two-phase. The single-phase segment is expected to grow at a faster rate during the forecast period. In 2017, the single-phase segment held 55.2% share of the global MCHE market.