Microchannel Heat Exchanger Market Worth $26.3 Billion by 2028: Growing Demand for Efficient HVAC and Automotive Cooling Drives Expansion
The global microchannel heat exchanger market size is estimated to be USD 26.3 billion by 2028 from USD 16.1 billion in 2023, at a CAGR of 10.4%. The market growth is driven by energy efficient regulations and stringent emission standards, high demand for microchannel heat exchangers in growing HVACR industry, and expansion of data centers driving the need for effective thermal management solutions. However, expensive manufacturing of microchannel heat exchangers, and concerns related to durability and reliability of microchannel heat exchangers restrain the market.
Sanhua (Spain), Modine Manufacturing Company (U.S.), Danfoss (Denmark), Hydro (Norway), and Kaltra (Germany) are some of the established players in the microchannel heat exchanger market. These players have adopted various strategies such as mergers & acquisitions, joint ventures, and expansion to strengthen their market position.
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Sanhua
Sanhua is a multinational corporation that specializes in the manufacturing and distribution of a wide range of components and solutions for the heating, ventilation, air conditioning, and refrigeration (HVAC&R) industries. The company offers Microchannel Heat Exchangers for HVAC, refrigeration, and automotive applications. The company manufactures 230 million units annually and holds leading positions in the HVAC & Refrigeration, Micro-Channel, Home Appliance, and Automotive applications sectors. Sanhua has a global presence through 9 primary production bases and over 20 factories dispersed across various locations.
Modine Manufacturing Company
Modine Manufacturing Company is a global leader in the thermal management and heat transfer solutions industry. Modine specializes in a wide range of products and solutions related to thermal management, heat transfer, and HVAC systems. Their offerings include radiators, oil coolers, charge air coolers, exhaust gas recirculation (EGR) coolers, air conditioning systems, and other heat exchangers. The company’s operations are divided into two distinct segments, namely Climate Solutions and Performance Technologies. The company offers micro channel heat exchangers through its climate solutions segment.
The company is present in key geographic regions to support customers, facilitate development and testing, and manage various administrative functions, covering four continents, including North America, South America, Europe, and Asia. The company operates 37 manufacturing facilities across 14 countries.
Danfoss
Danfoss, headquartered in Nordborg, Denmark, is a global leader in innovative engineering solutions across key industries. Operating in HVAC, refrigeration, industrial automation, and power solutions, Danfoss offers a comprehensive range of products and services. The company operates through three business segments: power solutions, climate solutions, and power electronics & drives. The company offers microchannel heat exchangers through the climate solutions business segment.
Danfoss has a strong global presence with operations and manufacturing facilities in numerous countries. The company, with its products sold in over 100 countries, maintains a global presence through 97 factories situated in more than 20 countries.
Hydro
Hydro is a leading aluminium company producing primary aluminium, rolled products, extrusions, and casthouse products. The company is one of the leading aluminum extrusion-based companies in the world. The company has structured its operations into distinct business segments, namely, Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, Hydro Energy, and Others. The company offers microchannel heat exchangers through its hydro extrusions business segment. The primary metal production facilities of Hydro are located in the regions of Europe, Canada, Australia, Brazil, and Qatar. The extrusion activities of the company are mainly located in Europe and North America.
Hydro operates across a global footprint, boasting a widespread presence in over 140 locations spanning 40 countries. The company maintains a vast network of more than 30,000 suppliers and serves a diverse client of over 30,000 customers worldwide. Hydro has operations in approximately 40 countries on all continents.
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Kaltra
Kaltra is a European-based company that designs and manufactures innovative cooling and air conditioning products. It was founded to address the growing demand for energy-efficient and environmentally friendly cooling solutions. Kaltra focuses on providing high-efficiency cooling solutions for applications in data centers, industrial facilities, and commercial buildings. Their products include precision air conditioning units, chillers, and cooling systems designed to meet the specific needs of their customers. Kaltra annually delivers more than 4,000 units to its global clients, with successful system implementations in 65 countries. Over 1,000 customers rely on Kaltra’s equipment for their cooling and air conditioning needs, reflecting the company’s strong presence and trust in its solutions.
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