Dublin, June 25, 2019 (GLOBE NEWSWIRE) -- The "Microchannel Heat Exchanger Market by Type (Condenser, Evaporator, and Water Coil), Application (Automotive, HVAC, Commercial Refrigeration), and Region (North America, Europe, APAC, South America, and Middle East & Africa) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The MCHE market is estimated to be USD 11.3 billion in 2019 and is projected to reach USD 20.7 billion by 2024.
This growth is attributed to stringent regulations concerning emissions and energy efficiency regulations, along with the growth of the HVACR and automotive industries and beneficial properties of MCHEs over its substitute products. However, low-cost MCHE supplied by local MCHE manufacturers, especially from APAC, is hampering the market growth. On the other hand, the increasing use of EVs in the automotive industry is expected to leverage new growth opportunities for MCHE manufacturers.
The key companies profiled in this report include Sanhua (China), MAHLE (Germany), Denso Corporation (Japan), Modine (US), Hanon Systems (South Korea), Kangsheng Group (China), Kaltra (Deutschland), Climetal (Spain), Danfoss (Denmark), and API Heat Transfer (US).
The automotive application segment accounted for the largest market share
The automotive application dominates the MCHE market and is projected to register a high CAGR during the forecast period. Growing production and demand for automotive, along with the growing demand for electric vehicles, will boost the demand for MCHE in this application.
Moreover, MCHE is in high demand for cooling of liquid to increase the efficiency and reduce the size of the radiator in the engine cooling system in the automotive industry. Thus, the demand for MCHE in battery refrigeration and air conditioning in automotive is projected to grow during the forecast period.
APAC is the largest and fastest-growing MCHE market
APAC is estimated to account for the largest share of the MCHE market, owing to the growing purchasing power of the middle-income group, high demand for air conditioning system in automobiles, and increasing population. China, India, Japan, Indonesia, and South Korea are the countries in the APAC market for MCHE.
China accounted for the largest share of the APAC market, owing to the presence of huge automotive and HVAC industries. Moreover, in the overall AC demand, APAC countries registered an annual growth of more than 17% year-on-year. This scenario in the region is favorable for the growth of the MCHE market during the forecast period.
The report is expected to help market leaders/new entrants in the following ways:
- This report segments the MCHE market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- This report is expected to help stakeholders understand the pulse of the MCHE market and provide information on key market drivers, restraints, challenges, and opportunities influencing the growth of the market.
- This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the MCHE market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies such as joint venture, new product launch, acquisition, and expansion.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 MCHE Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Limitations
2.5 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the MCHE Market
4.2 MCHE Market, By Type
4.3 MCHE Market, By Application
4.4 APAC MCHE Market, By Application and Country
4.5 MCHE Market, By Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Energy Efficiency Regulations and Stringent Emission Standards
5.2.1.2 High Demand for MCHE in the Growing HVACR Industry
5.2.2 Restraint
5.2.2.1 Production of Low-Cost MCHE in APAC
5.2.3 Opportunities
5.2.3.1 Use of Thermal Management Systems for EVs
5.2.4 Challenges
5.2.4.1 Capital-Intensive Market
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
6 Macroeconomic Overview
6.1 Introduction
6.1.1 Real GDP Growth Rate and Per Capita GDP of Major Economies
6.2 Trends of Automotive Industry
6.3 Trends of Hvacr Industry
6.3.1 Demand for AC Units in North America
6.3.2 Demand for AC Units in Europe
6.3.3 Demand for AC Units in APAC
7 MCHE Market, By Type
7.1 Introduction
7.1.1 Condenser
7.1.1.1 The Condenser Segment Accounted for the Largest Share in the MCHE Market
7.1.2 Evaporator
7.1.2.1 AC Systems Majorly Drive the Demand for MCHE as an Evaporator in HVAC and Refrigeration
7.1.3 Water Coil
7.1.3.1 The Water Coil Segment is Projected to Register the Highest Growth Rate During the Forecast Period
8 MCHE Market, By Application
8.1 Introduction
8.2 Automotive
8.2.1 The Automotive Application Dominates the MCHE Market
8.3 HVAC
8.3.1 Residential AC
8.3.1.1 The High Demand for Energy-Efficient and Reliable Residential AC Systems is Increasing the Demand for MCHE
8.3.2 Commercial AC
8.3.2.1 Limited Energy Resources are Leading to Increase in Demand for Energy-Efficient Commercial AC in Both Developed and Developing Countries
8.3.3 Precision Cooling
8.3.3.1 Increasing Number of Server Rooms and Data Centers is Expected to Have A Positive Impact on the MCHE Market
8.4 Commercial Refrigeration
8.4.1 Stationary Refrigeration
8.4.1.1 Highly Efficient and Good CAPACity Heat Exchangers Along With Compact Design is Boosting the Demand for MCHE in Stationary Refrigeration
8.4.2 Transport Refrigeration
8.4.2.1 The Increasing Food Trade Globally is Driving the MCHE Market
8.4.3 Cold Storage
8.4.3.1 Excellent Properties of MCHE are Driving Its Demand in the Cold Storage Application
8.5 Others
9 MCHE Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 The Automotive Industry in the Country is the Major Consumer of MCHE
9.2.2 Canada
9.2.2.1 Canada's MCHE Market is Majorly Driven By Its Booming Hvacr Industry
9.2.3 Mexico
9.2.3.1 Increase in Automotive Production Will Have A Positive Impact on the MCHE Market
9.3 APAC
9.3.1 China
9.3.1.1 China Accounted for the Largest Share of the Global MCHE Market
9.3.2 India
9.3.2.1 India is the Fastest-Growing MCHE Market in APAC
9.3.3 Japan
9.3.3.1 Increase in Overall AC Demand Will Have A Positive Impact on the MCHE Market
9.3.4 South Korea
9.3.4.1 The Growth in the Demand for HVAC Systems is Expected to Boost the Market Growth
9.3.5 Indonesia
9.3.5.1 Growth in Automotive Production and AC Demand are the Major Drivers for MCHE Demand
9.3.6 Rest of APAC
9.4 Europe
9.4.1 Germany
9.4.1.1 Germany Accounted for Largest Share of the MCHE Market in Europe
9.4.2 Spain
9.4.2.1 Revival of the Construction Industry is Boosting the Demand for HVAC Systems
9.4.3 France
9.4.3.1 Steady Growth in Automotive Production is Expected to Drive the MCHE Market
9.4.4 Russia
9.4.4.1 Demand for MCHE in Russia is Fueled By Growth in the Automotive Production
9.4.5 UK
9.4.5.1 UK's Energy Efficiency and Emission Regulations are Fueling the Demand for Efficient HVAC Systems
9.4.6 Italy
9.4.6.1 Italy is Projected to Register the Fastest-Growth in the MCHE Market
9.4.7 Rest of Europe
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Growth in Commercial Infrastructures is Likely to Drive the MCHE Market
9.5.2 Rest of the Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 Brazil is the 7th-Largest Producer of Automobiles Which is Boosting the MCHE Market
9.6.2 Rest of South America
10 Competitive Landscape
10.1 Introduction
10.2 Competitive Leadership Mapping, 2018
10.2.1 Terminology/Nomenclature
10.2.1.1 Visionary Leaders
10.2.1.2 Innovators
10.2.1.3 Dynamic Differentiators
10.2.1.4 Emerging Companies
10.2.2 Strength of Product Portfolio
10.2.3 Business Strategy Excellence
10.3 Ranking of Key Players
10.4 Competitive Scenario
10.4.1 Expansion
10.4.2 Joint Venture
10.4.3 Acquisition
10.4.4 New Product Launch
11 Company Profiles
11.1 Sanhua
11.2 Hanon Systems
11.3 MAHLE
11.4 Modine
11.5 Denso Corporation
11.6 API Heat Transfer
11.7 Climetal
11.8 Danfoss
11.9 Kaltra
11.10 Kangsheng Group
11.11 Other Companies
11.11.1 Calsonic Kansei
11.11.2 Evapco
11.11.3 Goldstone Hvacr
11.11.4 Nortek Global HVAC
11.11.5 Sanden
11.11.6 Tata Toyo Radiator
11.11.7 Thermokey
11.11.8 Zhejiang Dun 'An Artificial Environment
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