Dublin, Feb. 21, 2025 (GLOBE NEWSWIRE) — The “Microchannel Heat Exchanger Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the microchannel heat exchanger market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global microchannel heat exchanger market reached a value of nearly $14.22 billion in 2024, having grown at a compound annual growth rate (CAGR) of 6.28% since 2019. The market is expected to grow from $14.22 billion in 2024 to $22.24 billion in 2029 at a rate of 9.36%. The market is then expected to grow at a CAGR of 9.22% from 2029 and reach $34.57 billion in 2034.
The global microchannel heat exchanger market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 22.5% of the total market in 2023. Alfa Laval AB. was the largest competitor with a 3.56% share of the market, followed by Zhejiang DUNAN Artificial Environment Co. Ltd. with 3.09%, Daikin Industries Ltd. 2.90%, API Heat Transfer Inc. with 2.77%, Danfoss A/S. with 2.61%, Evapco Inc. with 2.37%, DENSO Corporation with 1.91%, Sanhua Holding Group Co. Ltd. with 1.59%, Kobelco (Kobe Steel, Ltd.) with 0.87% and Brazeway Inc. with 0.84%.
Market-trend-based strategies for the microchannel heat exchanger market include focus on developing technologically advanced products, focus on expanding manufacturing facilities, focus on developing advanced products, such as heat pumps and focus on developing innovative products such as brazed plate heat exchangers (BPHE) for enhance heat transfer efficiency. Player-adopted strategies in the microchannel heat exchanger market include focus on strengthening its business operations through strategic investments, focus on enhancing business capabilities through the launch of new products and focus on strengthening its business operations through technological advancements.
Growth in the historic period resulted from the economic growth, rising automotive industry and increasing industrialization. Factors that negatively affected growth in the historic period were supply chain disruptions. Going forward, the increasing urbanization, shift towards renewable energy, increasing construction industry, growth in data centers, expansion of smart cities, rise in consumer electronics and favorable government initiatives will drive the growth. Factor that could hinder the growth of the microchannel heat exchanger market in the future include labor shortages.
The microchannel heat exchanger market is segmented by type into air handling units, heat pumps, fan coil units and other types. The air handling units market was the largest segment of the microchannel heat exchanger market segmented by type, accounting for 33.79% or $4.8 billion of the total in 2024. Going forward, the heat pumps segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by type, at a CAGR of 10.68% during 2024-2029.
The microchannel heat exchanger market is segmented by material type into metal and ceramic. The metal market was the largest segment of the microchannel heat exchanger market segmented by material type, accounting for 84.73% or $12.04 billion of the total in 2024. Going forward, the metal segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by material type, at a CAGR of 9.40% during 2024-2029.
The microchannel heat exchanger market is segmented by fluid mechanism into single coil, dual coil and multi coil. The single coil market was the largest segment of the microchannel heat exchanger market segmented by fluid mechanism, accounting for 49.48% or $7.03 billion of the total in 2024. Going forward, the dual coil segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by fluid mechanism, at a CAGR of 9.86% during 2024-2029.
The microchannel heat exchanger market is segmented by end-use industry into automotive, heating, ventilation and air conditioning (HVAC), commercial refrigeration and other end-use industries. The heating, ventilation and air conditioning (HVAC) market was the largest segment of the microchannel heat exchanger market segmented by end-use industry, accounting for 40.73% or $5.79 billion of the total in 2024. Going forward, the automotive segment is expected to be the fastest growing segment in the microchannel heat exchanger market segmented by end-use industry, at a CAGR of 10.25% during 2024-2029.
Asia Pacific was the largest region in the microchannel heat exchanger market, accounting for 44.80% or $6.37 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the microchannel heat exchanger market will be Asia Pacific and Western Europe where growth will be at CAGRs of 9.97% and 9.63% respectively. These will be followed by Eastern Europe and South America where the markets are expected to grow at CAGRs of 8.85% and 8.79% respectively.
To take advantage of the opportunities, the analyst recommends the microchannel heat exchanger companies to focus on developing energy-efficient heat exchangers, focus on expanding manufacturing capabilities, focus on developing heat pumps with advanced capabilities, focus on developing brazed plate heat exchangers, focus on heat pumps for market growth, focus on metal for market growth, focus on dual coil for market growth, expand in emerging markets, focus on expanding distribution channels for microchannel heat exchanger companies, focus on price optimization through market segmentation, focus on digital marketing strategies to drive growth for companies, focus on building strategic partnerships to enhance market reach and focus on automotive for market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 316 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $14.22 Billion |
| Forecasted Market Value (USD) by 2034 | $34.57 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Top Opportunities
- The top opportunities in the microchannel heat exchanger markets segmented by type will arise in the air handling units segment, which will gain $2.91 billion of global annual sales by 2029.
- The top opportunities in the microchannel heat exchanger market segmented by material type will arise in the metal segment, which will gain $6.83 billion of global annual sales by 2029.
- The top opportunities in the microchannel heat exchanger markets segmented by fluid mechanism will arise in the single coil segment, which will gain $4.17 billion of global annual sales by 2029.
- The top opportunities in the microchannel heat exchanger markets segmented by end-use industry will arise in the heating, ventilation and air conditioning (HVAC) segment, which will gain $3.34 billion of global annual sales by 2029.
- The microchannel heat exchanger market size will gain the most in China at $2.2 billion.
Major Market Trends
- Revolutionizes Heat Exchanger Market With Next-Gen MCHE Technology
- Strategic Expansion of Manufacturing Facilities
- Advanced Heat Pumps With Microchannel Heat Exchanger Technology
- Innovative Brazed Plate Heat Exchangers Revolutionize HVAC&R Efficiency
Key Mergers and Acquisitions
- Pentair Plc Acquires G & F Manufacturing LLC
- Robert Bosch GmbH Acquires Johnson Controls
- Nexson Group Acquires Thermowave GmbH
- 2G Energy AG Acquires NRGTEQ.
Scope
- Type: Air Handling Units; Heat Pumps; Fan Coil Units; Other Types
- Material: Metal; Ceramic
- Fluid Mechanism: Single Coil; Dual Coil; Multi Coil
- End-User Industry: Automotive; Heating, Ventilation and Air Conditioning (HVAC); Commercial Refrigeration; Other End-Use Industries
For more information about this report visit https://www.researchandmarkets.com/r/akvdqt
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- Microchannel Heat Exchanger Market
