Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global microchannel heat exchanger market is expected to witness significant expansion from 2023 to 2028. An insightful new study highlights the pivotal factors driving this growth, alongside the industry's major players and strategic market developments.
The comprehensive research on the microchannel heat exchanger market reveals a projected rise in market value, estimated at USD 16.1 billion in 2023, with expectations to reach approximately USD 26.3 billion by 2028. This brisk growth, at a Compound Annual Growth Rate (CAGR) of 10.4%, is primed by the pressing need for energy-efficient cooling solutions and the enforcement of stringent emission standards globally.
North America and Ceramic-Based Microchannel Heat Exchangers Gain Market Traction
Detailed analysis within the report illustrates North America holding a commanding position with the second-largest market share, thanks to advancements in technology, a vibrant industrial sector, and a keen focus on elevating energy efficiency standards. The ceramic-based material segment, renowned for its exceptional thermal resistance and durability, also secures the second-largest market share, finding applications in sectors such as aerospace and electronics that demand resilience to extreme conditions.
Evaporators and Dual Coil Microchannel Heat Exchangers: Components Driving Demand
Evaporators emerge as another significant component within the market. Their ability to change the phase of refrigerants and facilitate the absorption of heat places them at the forefront of refrigeration and air conditioning systems, marking them as the second-largest segment. Similarly, dual coil fluid-mechanisms see substantial adoption due to their operational versatility and efficiency in diverse applications, making them a prominent choice for industry-specific heat exchange needs.
Surge in HVAC Applications Propelling Market Forward
The HVAC industry's pivot toward microchannel technology underscores the sector's quest for more sustainable and compact thermal management systems. Comprising the second-largest market share amongst end-use industries, the HVAC sector's endorsement is a testimony to the microchannel heat exchanger's enhanced efficiency and improved heat transfer capabilities.
The report includes perspectives from a broad spectrum of industry experts and key market stakeholders, providing a well-rounded view of the current landscape and future prospects. An in-depth look into the strategies and achievements of global leaders in the microchannel heat exchanger market is provided, along with analysis across various market segments and regions. These insights address emergent trends and outline both the challenges and opportunities poised to define the microchannel heat exchanger market's trajectory.
With the confluence of driving forces such as the increasing call for energy-efficient regulations, the boom in the HVACR industry, and the growing implementation of microchannel heat exchangers in both automotive and renewable energy spheres, stakeholders are equipped with critical data to navigate the market landscape.
- Analysis of drivers: Energy efficient regulations, stringent emission standards, and high demand in the growing HVACR industry.
- Market Development: Breakdown of high-growth regional markets and assessment of market penetration by leading players.
- Product Development/Innovation: Research activities and mergers & acquisitions shaping the future of microchannel heat exchangers.
- Competitive Assessment: A comprehensive examination of strategies, product portfolios, and manufacturing capabilities of market leaders.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 286 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $16.1 Billion |
| Forecasted Market Value (USD) by 2028 | $26.3 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
Companies Mentioned
- Amber Enterprises India Limited
- API Heat Transfer
- Climetal S.L.
- Danfoss
- Denso Corporation
- Dunham Bush
- Evapco Alcoil
- Goldstone HVACr Inc.
- Hanon Systems
- Heatcraft Worldwide Refrigeration
- Hydro
- Kaltra
- Kaori Heat Treatment Co., Ltd.
- Kasun
- Mahle
- Modine Manufacturing Company
- Nortek Global HVAC
- Sanhua
- Shanghai Shenglin M&E Technology Co., Ltd.
- Sumitomo Precision Products Co., Ltd.
- Tata Toyo Radiator
- Thermokey
- Tipo Heat Exchangers
- Vacuum Process Engineering
- Welcon Inc.
- Young in Tech
For more information about this report visit https://www.researchandmarkets.com/r/g8c1x4
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