Market Size (2016)
2016
—
Energy & Power
Microchannel Heat Exchanger Market
By Segment, By Region, And Segment Forecasts, 2016 – 2023
Vertical: EnPBase Year: 201710 Sections
Executive Summary
Microchannel Heat Exchanger Market — Snapshot
Projected (2023)
2023
—
CAGR (2016–2023)
N/A
Key Players
108+
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.
Key Insight
Microchannel Heat Exchanger Market is a key focus area for market intelligence and strategic research.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansMarket Scope & Coverage
What this report covers
- Geographic Coverage: This analysis covers 4 regions: North America, Europe, Asia Pacific, Rest of the World.
- Market Segmentation: The market is analyzed across key segments with forecasts from 2016 to 2023.
- Competitive Landscape: 108 leading companies are profiled, covering market positioning, strategies, and recent developments.
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View Subscription PlansMarket Overview
Microchannel Heat Exchanger Market — Growth Trajectory
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. MCHEs are highly efficient with the refrigerant flowing in microchannels. They are used in residential and commercial air conditioning systems and refrigeration equipment. MCHE products are deployed in various industries, including automotive, oil & gas, and chemical processing.
These heat exchangers offer improved efficiency by consuming 30% less refrigerant, improved coefficient of performance by around 10%, and are more lightweight and compact as compared to traditional heat exchangers.
Market Share by Application
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View Subscription PlansMarket Dimensions
How this market is segmented
- End Item End Item is broken down into: Chillers, Heat Pumps, Air handling Unit, Fan Coil Units, Others.
- Application Application is broken down into: Residential, Commercial, Refrigerated Transport, Application_Food Processing, Application_Power, Application_Others.
- End-Use End-Use is broken down into: HVACR, End-Use_Refrigerated Transport, Food Processing, Power, End-Use_Others.
- Phase Phase is broken down into: Single-Phase, Two-Phase.
Geographic Analysis
Regional market breakdown
- North America North America is one of the key regions covered in this market analysis.
- Europe Europe is one of the key regions covered in this market analysis.
- Asia Pacific Asia Pacific is one of the key regions covered in this market analysis.
- Rest of the World Rest of the World is one of the key regions covered in this market analysis.
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View Subscription PlansResearch Methodology
Microchannel Heat Exchanger Market — How We Researched This Market
This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2017
Historical Period
2016 – 2017
Forecast Period
2017 – 2023
Primary Interviews
150+
Research Process
Historical data (2016–2017) and forecast period (2017–2023)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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Analytics
Microchannel Heat Exchanger Market — Key Findings
Analytical insights on Microchannel Heat Exchanger Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
Microchannel Heat Exchanger Market represents a significant market opportunity with multiple growth drivers across regions and segments.
Market Dynamics
The global demand for Microchannel Heat Exchanger is driven by the rise in demand for MCHE in the manufacturing industry and the rapid growth in the global construction industry. Moreover, technological advancements in MCHEs has fueled the market growth. However, volatile raw material prices can restrain the growth of microchannel heat exchanger market
Market Drivers
MCHEs have a wide range of applications in industries including power stations, chemical plants, petrochemical plants, refineries, sewage treatment, automobiles, and aerospace. According to statistical reports from the World Bank, the value additions from global manufacturing sector grew from USD 12.38 trillion in 2016 to USD 13.49 trillion in 2017. The growth in manufacturing sector is further expected to continue during the forecast period primarily due to the increase in demand for manufactured goods, globally. Asia-Pacific is expected to grow at the fastest rate during the forecast period, owing to the increase in industrial production in the countries of China and India.
Additionally, due to the reduced labor costs, multi-national companies are seeking opportunities to set-up their manufacturing base in these countries for higher profits. For instance, in December 2018, Boeing inaugurated its new factory in Zhoushan, China. The factory has been built to deliver 7,700 planes to China in the next 20 years with an estimated cost of about USD 1.2 trillion. MCHEs will have various applications in aircraft, including water heating and fuel heating prior to combustion.
Data from the European Automobile Manufacturers Association showcases the increase in demand for automobiles between 2016 and 2017. The growth is expected to further continue during the forecast period, primarily due to the increasing purchasing power of the customers, globally.
MCHEs are primarily used in automotive radiators to cool down the liquid passing through it, which is subsequently used for maintaining the engine temperature during operations. Radiators are important parts of automobiles and as the global demand for automobiles grows, the demand for MCHE market is also expected to grow, globally. Additionally, the repair and maintenance of existing automobiles is also expected to substantially raise the demand for MCHE during the forecast period.
Based on these factors, the increasing demand for MCHE in the manufacturing sector is expected to substantially impact the growth of the global microchannel heat exchanger (MCHE) market during the forecast period.
As industrial automation is growing, manufacturers are taking steps to incorporate advanced technologies to improve plant efficiency, which will have a high impact on the global microchannel heat exchanger market during the beginning of the forecast period. As environmental norms are expected to increase in the next few years and it is expected to lead to the stagnation in the growth of the industrial sector, making the impact on the global MCHE market moderate by the end of the forecast period.
Market Opportunities
Traditional HVAC coils are used in a wide number of applications, such as industrial & commercial refrigeration, mobile air conditioning, heat pumps, and commercial & residential air conditioning. Over the years many traditional HVAC coils have become obsolete and replacing them would involve high costs for the end users. However, this is an opportunity for MCHE manufacturers to design custom-fit equipment, which can efficiently replace the existing coils. Incorporating MCHEs in existing equipment can substantially reduce the weight of the equipment and advanced analytics tools can be used to monitor the functioning of the MCHE for further improvement processes.
Urban cities, where HVAC installations is the highest, have limited spaces and replacing existing coils with MCHE can reduce the space occupied by the coils. Additionally, installations of MCHE in industries will further contribute improve the efficiency of the plant. Therefore, the ongoing developments within HVAC industry, and the transition from HVAC to MCHE, is an opportunity in the market.
Market Restraints
Some of the raw materials used in the manufacturing of MCHE include aluminum, stainless steel, copper, titanium, and Inconel. Raw material prices may vary from time to time, which eventually adds to the final manufacturing cost of MCHE. The raw material prices are highly regulated and are liable to change regularly. This is a major concern for manufacturers as their manufacturing cost is impacted by these changes. In most cases when raw material prices increase, the price of the final product also increases for the clients. For instance, price of aluminum had reached about USD 1.18 per pound in April 2018, which in March 2019, came down to about USD 0.66 per pound. The price of copper had been fluctuating between USD 2.5 to USD 3.5, between April 2018 and March 2019. The fluctuation in the raw material prices can be a hinderance in the growth of global microchannel heat exchanger (MCHE) market during the forecast period.
Currently, the varying costs associated with manufacturing MCHE has a high impact on the demand for MCHE in many price-sensitive countries and small and mid-sized industries. However, the growing spending capacity of the end-use industries, increasing government focus on encouraging the use of advanced MCHE, and product development strategies to minimize costs, are expected to decrease the impact of the volatile raw material prices during the forecast period. Therefore, the impact of the restraint on the MCHE market is expected to shift from high to moderate over the forecast period.
Strategic Outlook and Future Directions
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Companies
Key companies profiled in Microchannel Heat Exchanger Market
Profiles of 108 companies operating in the Microchannel Heat Exchanger Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Vacuum Pro
Vacuum Process Engineering
Energy & Power
Vacuum Process Engineering is one of the leaders in offering products and services integrated with metallurgy and innovative technology. It is also focused on technological advancement in terms of joining/bonding, specialized coatings, advanced thermal processing, and unique assembly methods. It provides precision brazing, diffusion bonding, thin film coating, heat treating, and contract manufacturing services. The company manufactures diffusion bonded microchannel heat exchangers for a wide range of applications. The company also provides retro-reflectors, metal sheets, tubes, heat exchangers, and turnkey assembly products for production, testing, and analysis. The company operates at two locations namely, California, and Massachusetts. The company has five major competitors in the market, including Modine Manufacturing Company (US), Danfoss (Denmark), Sanhua (US), Welcon (Japan), and Goldstone HVACR INC (Canada).
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Sanhua
Sanhua
Energy & Power
Sanhua is a leading manufacturer of HVACR controls and components as well as it is an OEM in automotive, appliance, and HVAC&R industries. The company primarily delivers standard controls and line components, aftermarket products, customized controls & line components, electronic controls, and products for household refrigerators. The company offers products and services for a wide range of applications, which include commercial air conditioning, commercial refrigeration, heat pumps, and home appliances. Sanhua has business unit in China and South Korea with presence in countries, such as France, Germany, Italy, Spain, Japan, Thailand, Malaysia, Chile, and the US. The major competitors of the company in the market are Danfoss (Denmark), Modine Manufacturing Company (US), Zhejiang DUNAN Artificial Environment co., LTD (China), and Kaltra (Germany).
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Danfoss
Danfoss
Energy & Power
Danfoss is one of the global leaders in providing products, services and solutions for cooling, drives, heating, and power solutions. The company provides products and solutions for end users, such as automotive, energy and natural resources, food and beverage, marine, offshore, mobile hydraulics, refrigeration and air conditioning, residential and commercial buildings, water and wastewater. The company has five business segments, namely, Danfoss power solutions, Danfoss cooling, Danfoss drives, Danfoss heating, and other areas. Microchannel heat exchanger falls under its Danfoss Cooling and Danfoss Heating segment. This segment also offers products, such as compressors and condensing units, valves electronic controllers, sensors, high-pressure pump, heating & cooling systems, radiator valves & thermostats, floor heating & heat pumps, and heat cost allocators in order to provide an optimal operation of pumps, fans, chillers, electric vehicles, conveyors, power conversion, and hybrid systems. Danfoss has 71 factories and 23 research and development sites, across the globe. Its major subsidiaries are Danfoss Gesellschaft m.b. (Austria), Danfoss Compressors Holding A/S (Denmark), Danfoss Power Solutions Oy A (Finland), Danfoss Commercial Compressors S. (France), and Danfoss Power Solutions GmbH & Co. OH (Germany). The company primarily competes with companies, such as Legrand (France), IDEC (Japan), and Federal Signal Corporation (The US).
Revenue$5.7B
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Modine Man
Modine Manufacturing Company
Energy & Power
Modine Manufacturing Company is one of the largest providers of products and services with expertise in thermal management solutions, across the globe. It is delivering thermal management technology and solutions for commercial, industrial, ventilating, building heating, air conditioning, and refrigeration. The company also provides products for powertrain cooling & engine cooling, coils, coolers, and coatings & heating, and ventilation & air conditioning. The company caters to various end users including automobile, agricultural, construction, commercial & industrial equipment manufacturers, heating, and ventilation & cooling manufacturers. The company has two business segments, namely, vehicular segment and industrial segment. Microchannel heat exchangers are offered under the industrial segment. This segment also offers products such as unit coolers, remote condensers, fluid coolers, transformer oil coolers, brine coolers, and coatings to protect against corrosion. Modine Manufacturing Company has production and technical facilities located in regions, such as North America, South America, Europe, Asia, and Africa. Its major subsidiaries are Geofinity Manufacturing Inc. (Canada), Airedale International Air Conditioning (England), Airedale Group ltd (England), Modine Thermal Systems Private ltd. (India), and Luvata Italy Srl (Italy). Some of its competitors in the market are Kelvion Holding GmbH (Germany), Alfa-Laval AB(Sweden), LU-VE S.p.A(Italy), Lennox International, Inc. (US), Super Radiator Coils (US), DunAn Precision Manufacturing, Inc.(US), and Guntner GmbH & Co. KG (Germany).
Revenue$1.5B
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Climetal S
Climetal SL
Energy & Power
Climetal SL is engaged in the business of designing and manufacturing heat exchangers for end users including HVACR, automobiles, trains, and power plants. The company manufactures both fin & tube heat exchangers and aluminum brazed heat exchangers. Additionally, the company also manufactures customized equipment for its clients. The company operates through two segments including products & services. The company offers its MCHE products through the product segment. Climetal has an extensive range of aftermarket condensers for the automotive industry. Some of the major companies that form its clientele are Alfa Romeo, BMW AG, Groupe Renault, Fiat Italy SPA, and Volvo Car Corporation.
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Evapco
Evapco
Energy & Power
Evapco Inc is primarily manufactures, develops, and provides services for heat transfer equipment for HVACR and industrial processes. The company operates through four business segments including commercial HVAC, industrial process, power generation, and industrial refrigeration. The industrial refrigeration segment offers the MCHE products to the clients. The company’s heat exchanger product line primarily consists of coils for various end-use industries. Additionally, the company also offers epoxy electro coating for protecting the coils from corrosion. Evapco also offers the Microchannel Select Software, which can help clients in product selection, product drawings, performance printouts, and generating product ratings. Evapco has its offices in the regions of Asia-Pacific, Africa, Europe, North America, and South America. The company’s major branch offices are located in the countries of Australia, Belgium, Brazil, China, South Africa, and the US. The company supplies its products through a global network of 170 offices. Additionally, the company has 24 manufacturing plants spread across 10 countries. Evapco has a 60,000 square feet research center in Taneytown, the US. The center has eight environmental test chambers for testing various cooling equipment.
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
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Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Microchannel Heat Exchanger Market
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