Microchannel Heat Exchanger Market worth $26.3 billion by 2028- Exclusive Report by MarketsandMarkets™

News provided by

Dec 05, 2023, 06:30 ET

CHICAGO, Dec. 5, 2023 /PRNewswire/ -- The report "Microchannel Heat Exchanger Market by Material Type (Metal Based, Ceramic Based), Components (Condenser, Evaporator, Water Coil), Fluid-Mechanism (Single Coil, Dual Coil, Multi Coil), Type, End- Use Industry, and Region - Global Forecast to 2028", size is projected to reach USD 26.3 billion by 2028 from USD 16.1 billion in 2023, at a CAGR of 10.4% during the forecast period. The major drivers for the microchannel heat exchanger market are energy efficient regulations and stringent emission standards, high demand for microchannel heat exchangers in growing HVACR industry, and expansion of data centers driving the need for effective thermal management solutions. Expensive manufacturing of microchannel heat exchangers, and concerns related to durability and reliability of microchannel heat exchangers are considered restraining factors in this market. Whereas usage of microchannel heat exchangers in automotive industry and integrating microchannel heat exchangers in renewable energy systems act as opportunities in the market.

Browse in-depth TOC on "Microchannel Heat Exchanger Market"

155– Tables

50– Figures

210– Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=32760657

Metal based are the fastest growing segment based on material type, in terms of value, during the forecast period.

Metal based are the fastest-growing segment due to the inherent advantages of metals. Materials such as aluminum, steel, and copper offer superior thermal conductivity, durability, and corrosion resistance. These qualities enhance the overall efficiency and reliability of microchannel heat exchangers, making them increasingly preferred in various applications. The expanding demand for high-performance and long-lasting heat exchange solutions, coupled with the versatility and widespread availability of metal materials, positions the metal-based segment for rapid growth in the forecast period, outpacing other material types in the microchannel heat exchanger market.

Based on components, water coils are estimated to be the fastest growing segment in the overall microchannel heat exchanger market in terms of value.

The water coil segment experiences accelerated growth in the microchannel heat exchanger market during the forecast period due to heightened emphasis on energy efficiency and sustainability. Water coils, leveraging water as a heat exchange medium, offer superior thermal performance, making them a preferred choice for various applications, including HVAC and industrial processes. Additionally, the environmental advantages associated with water as a cooling medium align with increasing industry trends toward eco-friendly solutions. As the market increasingly prioritizes energy-efficient and environmentally sustainable components, the water coil segment emerges as the fastest-growing, driven by its efficiency and eco-conscious appeal in the microchannel heat exchanger market.

Based on the fluid-mechanism, dual coil is estimated to be the fastest-growing segment of microchannel heat exchanger market.

Dual coil is estimated to be the fastest growing segment of the microchannel heat exchanger market due to its enhanced versatility and performance. Dual coils enable the simultaneous and independent flow of two different fluids, providing optimal control over heat exchange processes. This flexibility makes them well-suited for diverse applications, including HVAC and industrial systems, where precise thermal management is crucial. The ability to handle multiple fluid types efficiently, coupled with the growing demand for customizable and adaptable solutions, positions dual coils as the fastest-growing fluid-mechanism segment in the microchannel heat exchanger market, meeting evolving industry needs.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=32760657

Based on end-use industry, HVAC is estimated to be the fastest-growing segment of microchannel heat exchanger market.

HVAC is estimated to be the fastest growing end-use industry of microchannel heat exchanger market, due to escalating demand for energy-efficient and compact thermal management solutions. Microchannel heat exchangers excel in meeting the stringent requirements of HVAC systems, offering enhanced heat transfer efficiency, reduced size, and improved overall performance. As the global focus intensifies on sustainable building practices and energy conservation, the HVAC sector increasingly adopts microchannel heat exchangers to optimize heating, ventilation, and air conditioning processes.

The Middle East & Africa is the second fastest growing regiont, in terms of value, during the forecast period in the microchannel heat exchanger market.

Middle East & Africa (MEA) represents the second fastest-growing region in the microchannel heat exchanger market during the forecast period. The region experiences rapid industrialization, infrastructural development, and increased adoption of advanced cooling technologies, particularly in HVAC and automotive sectors. MEA's harsh climatic conditions also drive demand for efficient heat exchange solutions. Government initiatives promoting energy efficiency and sustainability further boost market growth. As the region invests in modernizing its industrial and commercial infrastructure, the demand for microchannel heat exchangers rises, positioning the Middle East & Africa as the second fastest-growing segment in the microchannel heat exchanger market.

Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=32760657

Market Players

Some of the key players in the global microchannel heat exchanger market include Sanhua (Spain), Modine Manufacturing Company (U.S.), Danfoss (Denmark), Hydro (Norway), Kaltra (Germany) and others. These players have adopted various strategies such as mergers & acquisitions, joint ventures, and expansion to strengthen their market position.

Browse Adjacent Market: Equipment Machine and Tooling Market Research Reports

Related Reports:

Heat Exchangers Market- Global Forecast to 2028

Plate and Frame Heat Exchanger Market- Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/microchannel-heat-exchanger-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/microchannel-heat-exchanger.asp