Nov 19, 2020   SOURCE: BusinessWire

Insights on the Microchannel Heat Exchanger Global Market to 2027 - by Type and Application - ResearchAndMarkets.com

The "Microchannel Heat Exchanger Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type and Application" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at US$ 7,794.93 million in 2019 and is projected to reach US$ 19,630.87 million by 2027; it is expected to grow at a CAGR of 12.4% from 2020 to 2027.

The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Micro heat exchangers or microstructured heat exchangers are heat exchangers in which the fluid flows in lateral confinements with dimensions below 1 mm. microchannel heat exchanger is a heat exchanger with a hydraulic diameter below 1 mm. It can be made using ceramic or metal. The microchannel heat exchanger is used in applications such as heat pumps, air conditioning, and high performance aircraft gas turbine engines. It is increasingly applied in the heating, ventilation, air conditioning, and refrigeration field owing to its highly efficient heat transfer rate, lower cost, and a compact structure. The microchannel heat exchanger improves the process technology and is used in household air conditioning and automotive air conditioning systems.

In automotive applications, heat exchangers are used for transferring heat from hot exhaust gas to the coolant fluid to increase the temperature of the coolant. Furthermore, the ability to efficiently transfer heat between fluids using lightweight, compact heat exchangers is important in a variety of applications, such as automotive radiators, air conditioning, and aerospace applications. Microchannel heat exchangers are well suited to these applications due to the compactness, lightness, and high heat transfer performance of the microchannel.

Microchannel Heat Exchanger is a well-proven technology, which has been widely used in the automotive industry for 20 years due to its efficiency, economy, recyclability, and lightness. Microchannel aluminum heat exchangers are used in the automotive industry due to their energy efficiency. Heat exchanger manufacturing companies are investing in research and development to develop energy-efficient heat exchangers. Vendors are actively researching the use of thermoelectric technology for the recovery of lost heat energy. Research is ongoing on the TE waste heat energy recovery method for the application of internal combustion engines in the automotive sector. TEG framework for automotive waste heat recovery systems would also be implemented.

Impact of COVID-19 Pandemic on Microchannel Heat Exchanger Market

The COVID-19 outbreak first began in Wuhan, China, in December 2019, and since then, it has spread at a fast pace worldwide. As of October 2020, the US, Brazil, India, Russia, South Africa, Mexico, and the UK are among the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemical and materials is one of the major industries suffering facing serious disruptions such as office and factory shutdown and supply chain breaks, as a result of this outbreak.

Reasons to Buy

  • Highlights key business priorities to assist companies realign their business strategies.
  • Features key findings and crucial progressive industry trends in the global microchannel heat exchanger market, thereby allowing players to develop effective long-term strategies.
  • Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
  • Scrutinizes in-depth market trends as well as key market drivers and restraints.
  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Market Dynamics

Drivers

  • Steady Growth in Automotive Production
  • Advantages of using Micro Channel Heat Exchangers in various applications

Restraints

  • Volatile Prices of Raw Material and high cost associated with microchannel heat exchangers

Opportunities

  • Use of Thermal Management Systems for EVs

Future Trends

  • High Demand for MCHE in the growing HVAC Industry

Companies Mentioned

  • API Heat Transfer
  • Climetal S.L.
  • Danfoss
  • Denso Corporation
  • Hanon System
  • Kaltra
  • Zhejiang Kangsheng Co. Ltd (Kasun)
  • MahleGmbh
  • Modine Manufacturing Company
  • Sanhua Holding Group

For more information about this report visit https://www.researchandmarkets.com/r/4uty9g