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North America Microchannel Heat Exchanger Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type; Application

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    Report

  • 69 Pages
  • November 2020
  • Region: North America
  • The Insight Partners
  • ID: 5231514
UP TO OFF until Mar 31st 2024
According to the latest study on “North America Microchannel Heat Exchanger Market Forecast to 2027 - COVID-19 Impact and Analysis - by Type (Condenser, Evaporator, and Water Coil) and Application (HVAC, Commercial Refrigeration, and Others), and Country, the North America microchannel heat exchanger market was valued at US$ 2,263.64 million in 2019 and is projected to reach US$ 5,732.21 million by 2027; it is expected to grow at a CAGR of 12.4% during 2020-2027. The report provides understanding on the key driving factors pertaining to the market growth and highlights the prominent players in the market, along with their developments.

Microchannel heat exchangers have applications in various important and diverse fields, including aerospace; bioengineering; gas turbine blade cooling, power and process industries, refrigeration and air conditioning; infrared detectors, and efficient laser mirrors and superconductors; microelectronics; and film deposition thermal control. The advantages of microchannel heat exchangers include high volumetric heat flux, compactness for space-critical applications, robust design, efficient flow distribution, and moderate pressure drops. The transportation and chemical manufacturing industries have been using MCHEs for decades. Micro-channel heat exchangers are used by both residential and industrial heat pump air conditioning systems. The efficiency of the heat pump system with microchannel heat exchangers is compared to that of the basic heat pump system using tube and fin heat exchangers. It is demonstrated that by using microchannel heat exchangers, the system capacity can increase by 4 percent for the residential heat pump air-conditioning system, and the system efficiency can increase by 1-2 percent, keeping the face area of the heat exchangers the same. The heat exchanger weight can be reduced by 44 percent, and the refrigerant charge can be reduced by 51 percent.

Micro heat exchangers or microstructured heat exchangers are heat exchangers in which the fluid flows in lateral confinements with dimensions below 1 mm. A 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.

The North America region includes developed economies such as the US and Canada as well as Mexico as a developing nation. The companies present in the region are continuously enhancing the overall business processes to meet the customer's demand in the best possible way. Various domestic and international companies have a strong foothold in the North American region, which boost the demand for microchannel heat exchanger. The US is a major market for microchannel heat exchanger, followed by Canada and Mexico. The rapid industrialization and flexible trade policies are driving the growth of the microchannel heat exchanger market. Microchannel heat exchangers find application in diverse fields such as aerospace, automotive, bioengineering, cooling of gas turbine blades, power and process industries, refrigeration and air conditioning, infrared detectors, and powerful laser mirrors and superconductors, microelectronics, and thermal control of film deposition. Therefore, a wide range of applications of microchannel heat exchanger is boosting its demand across various industries. Also, advantages of microchannel heat exchangers include high volumetric heat flux, compactness for space-critical applications, robust design, effective flow distribution, and modest pressure drops. Rapid development in the power generation sector in leading countries such as the US and Canada boosts the demand for microchannel heat exchangers in the North America region. Additionally, a rapid rise in energy demand, especially from manufacturing plants and related industrial establishments, is further expected to further fuel the market growth.

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. The US has the highest number of confirmed cases of COVID-19 morbidities in North America. The majority of the manufacturing plants were shut down during the lockdown, and the construction industry was at a halt, which has negatively impacted the microchannel heat exchanger market. In Canada, manufacturing units deemed nonessential were shut down, and the essential projects are subject to public health guidelines. The slowdown in the sales of microchannel heat exchanger in North American region will surely affect the overall growth of the microchannel heat exchanger market.

Some of the major key players operating in the North America microchannel heat exchanger market include API Heat Transfer Inc., Climetal S. L, Danfoss, DENSO Corporation, Hanon Systems, Kaltra, Zhejiang Kangsheng Co. Ltd (Kasun), MAHLE GmbH, Modine Manufacturing Company and Sanhua Holding Group Co., Ltd. among many others.

Reasons to Buy
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the North America Microchannel Heat Exchanger Market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Microchannel Heat Exchanger Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Expert Opinion
5. Microchannel Heat Exchanger Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Steady Growth in Automotive Production
5.1.2 Advantages of using Micro Channel Heat Exchangers in various applications
5.2 Market Restraints
5.2.1 Volatile Prices of Raw Material and high cost associated with microchannel heat exchangers
5.3 Market Opportunities
5.3.1 Use of Thermal Management Systems for EVs
5.4 Future Trends
5.4.1 High Demand for MCHE in the growing HVAC Industry
5.5 Impact Analysis of Drivers and Restraints
6. Microchannel Heat Exchanger - North America Market Analysis
6.1 Microchannel heat exchanger market Overview
6.2 North America Microchannel Heat Exchanger Market -Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning of Key Players
7. North America Microchannel Heat Exchanger Market Analysis - by Type
7.1 Overview
7.2 Overview
7.3 Microchannel Heat Exchanger Market, by Type (2019 and 2027)
7.4 Condenser
7.4.1 Overview
7.4.2 Condenser: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
7.5 Evaporator
7.5.1 Overview
7.5.2 Evaporator: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
7.6 Water Coil
7.6.1 Overview
7.6.2 Water Coil: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
8. Microchannel Heat Exchanger Market Analysis - by Application
8.1 Overview
8.2 Microchannel Heat Exchanger Market, by Application (2019 and 2027)
8.3 HVAC
8.3.1 Overview
8.3.2 HVAC: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
8.4 Commercial Refrigeration
8.4.1 Overview
8.4.2 Commercial Refrigeration: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
9. Microchannel Heat Exchanger Market - Country Analysis
9.1 Overview
9.1.1 North America: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
9.1.2 North America: Microchannel Heat Exchanger Market, by Key Country
9.1.3 North America: Microchannel Heat Exchanger Market, by Application
9.1.4 North America: Microchannel Heat Exchanger Market, by Key Country
9.1.4.1 US: Microchannel Heat Exchanger Market -Revenue and Forecast to 2027 (US$ Million)
9.1.4.1.1 US: Microchannel Heat Exchanger Market, by Type
9.1.4.1.2 US: Microchannel Heat Exchanger Market, by Application
9.1.4.2 Canada: Microchannel Heat Exchanger Market -Revenue and Forecast to 2027 (US$ Million)
9.1.4.2.1 Canada: Microchannel Heat Exchanger Market, by Type
9.1.4.2.2 Canada: Microchannel Heat Exchanger Market, by Application
9.1.4.3 Mexico: Microchannel Heat Exchanger Market -Revenue and Forecast to 2027 (US$ Million)
9.1.4.3.1 Mexico: Microchannel Heat Exchanger Market, by Type
9.1.4.3.2 Mexico: Microchannel Heat Exchanger Market, by Application
10. Overview- Impact of COVID-19 of North America Microchannel Heat Exchanger Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Strategy and Business Planning
11.2 Mergers and Acquisitions
12. Company Profiles
12.1 API HEAT TRANSFER
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.2 CLIMETAL S. L.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.3 DANFOSS
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.4 DENSO CORPORATION
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.5 HANON SYSTEM
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Key Developments
12.5.5 Financial Overview
12.5.6 SWOT Analysis
12.6 KALTRA
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.7 ZHEJIANG KANGSHENG CO. LTD (KASUN)
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.8 MAHLE GMBH
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Key Developments
12.8.5 Financial Overview
12.8.6 SWOT Analysis
12.9 MODINE MANUFACTURING COMPANY
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.10 SANHUA HOLDING GROUP
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Key Developments
12.10.5 Financial Overview
12.10.6 SWOT Analysis
13. Appendix
13.1 About the Publisher
13.2 Glossary of Terms
List of Tables
Table 1. North America Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Table 2. North America Microchannel Heat Exchanger Market, by Type - Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Microchannel Heat Exchanger Market, by Application - Revenue and Forecast to 2027 (US$ Million)
Table 4. US Microchannel Heat Exchanger Market, by Type - Revenue and Forecast to 2027 (US$ Million)
Table 5. US Microchannel Heat Exchanger Market, by Application - Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada Microchannel Heat Exchanger Market, by Type - Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada Microchannel Heat Exchanger Market, by Application - Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico Microchannel Heat Exchanger Market, by Type - Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico Microchannel Heat Exchanger Market, by Application - Revenue and Forecast to 2027 (US$ Million)
Table 10. Glossary of Terms, Microchannel Heat Exchanger Market
List of Figures
Figure 1. North America Microchannel Heat Exchanger Market Segmentation
Figure 2. North America Microchannel Heat Exchanger Market Segmentation - by Country
Figure 3. North America Microchannel Heat Exchanger Market Overview
Figure 4. Condenser Segment Held Largest Share of North America Microchannel Heat Exchanger Market
Figure 5. United States Held Largest Share of North America Microchannel Heat Exchanger Market
Figure 6. North America Microchannel Heat Exchanger Market, Industry Landscape
Figure 7. North America PEST Analysis
Figure 8. Expert Opinion
Figure 9. Microchannel Heat Exchanger Market Impact Analysis of Driver and Restraints
Figure 10. North America: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 11. Market Positioning of Key Player in Microchannel Heat Exchanger Market
Figure 12. Microchannel Heat Exchanger Market Revenue Share, by Type (2019 and 2027)
Figure 13. Condenser: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 14. Evaporator: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 15. Water Coil: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 16. Microchannel Heat Exchanger Market Revenue Share, by Application (2019 and 2027)
Figure 17. HVAC: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 18. Commercial Refrigeration: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 19. Others: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 20. North America: Microchannel Heat Exchanger Market - Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America: Microchannel Heat Exchanger Market Revenue Share, by Type (2019 and 2027)
Figure 22. North America: Microchannel Heat Exchanger Market Revenue Share, by Application (2019 and 2027)
Figure 23. North America: Microchannel Heat Exchanger Market Revenue Share, by Key Country (2019 and 2027)
Figure 24. US: Microchannel Heat Exchanger Market-Revenue and Forecast to 2027 (US$ Million)
Figure 25. Canada: Microchannel Heat Exchanger Market-Revenue and Forecast to 2027 (US$ Million)
Figure 26. Mexico: Microchannel Heat Exchanger Market-Revenue and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in North American Country Markets

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • API Heat Transfer Inc.
  • Climetal S.L
  • Danfoss
  • DENSO Corporation
  • Hanon Systems
  • Kaltra
  • Zhejiang Kangsheng Co. Ltd (Kasun)
  • MAHLE GmbH
  • Modine Manufacturing Company
  • Sanhua Holding Group Co., Ltd