Global Microchannel Heat Exchanger (MCHE) Market 2019-2024: High Demand for MCHE in the Growing HVACR Industry – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “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” report has been added to ResearchAndMarkets.com’s offering.

The MCHE market is estimated to be USD 11.3 billion in 2019 and is projected to reach USD 20.7 billion by 2024.

This growth is attributed to stringent regulations concerning emissions and energy efficiency regulations, along with the growth of the HVACR and automotive industries and beneficial properties of MCHEs over its substitute products. However, low-cost MCHE supplied by local MCHE manufacturers, especially from APAC, is hampering the market growth. On the other hand, the increasing use of EVs in the automotive industry is expected to leverage new growth opportunities for MCHE manufacturers.

The key companies profiled in this report include 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 automotive application segment accounted for the largest market share

The automotive application dominates the MCHE market and is projected to register a high CAGR during the forecast period. Growing production and demand for automotive, along with the growing demand for electric vehicles, will boost the demand for MCHE in this application.

Moreover, MCHE is in high demand for cooling of liquid to increase the efficiency and reduce the size of the radiator in the engine cooling system in the automotive industry. Thus, the demand for MCHE in battery refrigeration and air conditioning in automotive is projected to grow during the forecast period.

APAC is the largest and fastest-growing MCHE market

APAC is estimated to account for the largest share of the MCHE market, owing to the growing purchasing power of the middle-income group, high demand for air conditioning system in automobiles, and increasing population. China, India, Japan, Indonesia, and South Korea are the countries in the APAC market for MCHE.

China accounted for the largest share of the APAC market, owing to the presence of huge automotive and HVAC industries. Moreover, in the overall AC demand, APAC countries registered an annual growth of more than 17% year-on-year. This scenario in the region is favorable for the growth of the MCHE market during the forecast period.

Market Dynamics

Drivers

  • Energy Efficiency Regulations and Stringent Emission Standards
  • High Demand for MCHE in the Growing HVACR Industry

Restraints

  • Production of Low-Cost MCHE in APAC

Opportunities

  • Use of Thermal Management Systems for EVs

Challenges

  • Capital-Intensive Market

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Macroeconomic Overview

7 MCHE Market, By Type

8 MCHE Market, By Application

9 MCHE Market, By Region

10 Competitive Landscape

11 Company Profiles

  • API Heat Transfer
  • Calsonic Kansei
  • Climetal
  • Danfoss
  • Denso Corporation
  • Evapco
  • Goldstone Hvacr
  • Hanon Systems
  • Kaltra
  • Kangsheng Group
  • MAHLE
  • Modine
  • Nortek Global HVAC
  • Sanden
  • Sanhua
  • Tata Toyo Radiator
  • Thermokey
  • Zhejiang Dun ‘An Artificial Environment

For more information about this report visit https://www.researchandmarkets.com/r/jyvvyt

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics: Heat Exchangers and Cooling Towers