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Microchannel Heat Exchanger Market worth $20.7 billion by 2024 | Key players Sanhua, MAHLE, Denso Corp, Modine, Hanon Systems

01-17-2022 10:04 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Microchannel Heat Exchanger Market, MCHE Market, Microchannel Heat Exchanger

Microchannel Heat Exchanger Market, MCHE Market, Microchannel Heat Exchanger

According to recent market research "Microchannel Heat Exchanger Market by Type (Condenser, Evaporator, and Water Coil), Application (Automotive, HVAC, Commercial Refrigeration), and Region (North America, Europe, APAC, South America, and Middle East & Africa) - Global Forecast to 2024", The MCHE market is projected to grow from USD 11.3 billion in 2019 to USD 20.7 billion by 2024, at a CAGR of 13.0% during the forecast period. The growth of the MCHE can be attributed to the stringent government regulations on energy efficiency and emissions. In addition, the advantages of MCHE over fin & tube heat exchanger has increased its demand in HVAC and refrigeration systems.

Browse 68 market data Tables and 33 Figures spread through 112 Pages and in-depth TOC on "Microchannel Heat Exchanger Market - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/microchannel-heat-exchanger-market-32760657.html

MCHE has several advantages over its substitutes such as plate & fin and fin & tube. MCHE has a compact design and hence can be incorporated in HVAC systems, such as residential AC, indoor display, and automobile AC, where space is a major constraint. MCHE is making 35% more compact units that require significantly less refrigerant and save considerable energy, along with 77% lower hold-up volume, being 68% lightweight, and providing 4% more cooling capacity as compared to fin & tube heat exchangers.

The condenser segment dominated the MCHE market, with a share of more than 90.0% in 2018. Its high utilization in heat transfer systems is majorly driving its demand. The demand for condenser is majorly driven by HVAC systems where the compact design is one of the crucial factors amongst efficiency and emission standards. With the added advantages of MCHE, it is now being used as condensing units in various HVACR systems such as HVAC chillers, process chillers, food & beverage process equipment, data center systems, industrial process equipment, rooftop systems, and airside equipment.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=32760657

The MCHE market size is estimated at USD 11.3 billion in 2019 and is projected to reach USD 20.7 billion by 2024, at a CAGR of 13.0% between 2019 and 2024. MCHE is majorly used as condensers in HVAC, commercial refrigeration, and automotive applications for air conditioning. MCHE is efficient, require less refrigerant charge volume, and has better heat transfer rate as compared to its substitute products, namely, fin & tube and plate & fin heat exchangers.

The key players in the MCHE market are Sanhua (China), MAHLE (Germany), Denso Corporation (Japan), Modine (US), Hanon Systems (South Korea), Kangsheng Group (China), Kaltra (Deutschland), Climetal (Spain), Danfoss (Denmark), and API Heat Transfer (US). The MCHE market report analyzes the key growth strategies, such as expansion, acquisition, joint venture, and new product launch, adopted by the leading market players, between 2015 and 2018.

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Sanhua is among the key players in the MCHE market. The company adopted the organic growth strategy of expansion. In 2017, the company expanded its production base in Mexico, which is one of the automotive manufacturing hubs in North America and South America. This expansion will allow the company to cater to the demand and expand its footprints in these regions. In 2015, the company invested in a facility in Mexico to increase its manufacturing capacities of MCHE. The newly formed manufacturing unit will have capacity of 13,000 units per month.

MAHLE is one of the leading manufacturers of MCHE for automotive applications. The company adopted the organic strategy of acquisition to grow in the market. In 2015, it acquired Delphi Thermal (US), a manufacturer of thermal management systems. This acquisition will expand and add air conditioning, heat exchangers, and powertrain cooling product portfolio to its thermal management business segment.

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The MCHE market size is estimated at $11.3 billion in 2019 and is expected to reach $20.7 billion by 2025 with a CAGR of 12.8%. The growth of global automotive production is a major driving force for MCHE in the automotive industry. MCHE is primarily used as a condenser in automotive applications for HVAC, commercial refrigeration and air conditioning. MCHE is efficient, has a low refrigerant charge and has a better