Microchannel Heat Exchanger Market Size Analysis - Market Share, Forecast Trends and Outlook Report 2025-2034

The global microchannel heat exchanger market size is expected to achieve USD 56.81 Billion by 2034, growing at a CAGR of 13.20% between 2025 and 2034. The microchannel heat exchanger market is being driven by the growing automotive industry due to an increase in automotive manufacturing, globally.

The Asia-Pacific is the leading regional market in the industry. India and China, especially, account for a significant proportion of the industry in the Asia-Pacific region. The microchannel heat exchanger industry in the two countries is being driven by their robust automotive industry. The rapidly growing economies of the countries are also aiding the industry growth. The industry is also expected to see a healthy growth in Japan and South Korea driven by the rising production of automobiles in these countries.

Market Segmentation

The microchannel heat exchanger industry can be divided on the basis of segments like type and application. The industry can be broadly categorised into different segments:

Market Breakup by Type

• Condenser
• Evaporator
• Water Coil

Market Breakup by Application

• Automotive
• HVAC
• Residential AC
• Commercial AC
• Precision Cooling
• Commercial Refrigeration
• Stationary Refrigeration
• Transport Refrigeration
• Cold Storage
• Others

Market Breakup by Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Market Analysis

The microchannel heat exchanger industry is being driven by the rising energy efficiency regulations and stringent emission standards across the globe. The industry is also finding impetus for its growth in the increasing demand for lightweight electronic appliances. The high demand for the product in the growing HVAC industry is also driving the industry. HVAC is expected to be the leading application sector for microchannel heat exchanger. The product is finding rising use in HVAC products like air conditioners and in heat pumps in refrigerators. Water coil and condenser types of the product are projected to witness a robust growth in the coming years.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global microchannel heat exchanger market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Sanhua (Hangzhou) Micro Channel Heat Exchanger Co., Ltd
• EVAPCO, Inc.
• MAHLE GmbH
• Modine Manufacturing Company
• Goldstone HVACR Inc.
• ThermoKey S.p.A.
• Kaltra Innovativtechnik GmbH
• API Heat Transfer Inc.
• Climetal S.L.
• Others

The report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.