Market Introduction
Micro heat exchanger or microstructured heat exchanger refers to 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 turbines 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 is capable of reducing the equipment weight and enhances the device compact. It improves the process technology and is used in household air conditioning and automotive air conditioning systems.
Market Overview and Dynamics
The Middle East and Africa microchannel heat exchanger market was valued at US$ 517.50 million in 2019 and is projected to reach US$ 1,256.38 million by 2027; it is expected to grow at a CAGR of 11.8% during 2020–2027. Factors driving the market growth include steady growth in automotive production and advantages of using micro channel heat Exchangers in various applications. However, Volatile prices of raw material and high cost associated with microchannel heat exchangers are likely to have a negative impact on the market growth.
Effect of covid-19 on Middle East and Africa Microchannel Heat Exchanger Market
The ongoing COVID-19 outbreak began in Wuhan (China) in December 2019, but later it spread to all the parts of the world. It has adversely affected the chemicals and materials industry as the industry is suffering from supply chain disruptions, lockdowns, travel bans, and business shutdowns called in various countries. South Africa has the highest number of confirmed cases of the COVID-19 morbidity among all Middle East and African countries. This is likely to impact the chemicals and materials industry in the region due to the disruption of supply and distribution chain. In addition, the lockdown scenarios are also impacting the overall manufacturing processes, research, and development activities pertaining to different industries.
Key Market Segments
The condenser microchannel heat exchanger segment accounted for a larger share of the Middle East and Africa microchannel heat exchanger market, by type, in 2019. The others microchannel heat exchanger segment accounted for a larger share of the Middle East and Africa microchannel heat exchanger market, by application, in 2019.
Major Sources and Companies Listed
A few of the major primary and secondary sources referred to while preparing this report on the Middle East and Africa 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.
Reasons to buy the report
- To understand the Middle East and Africa microchannel heat exchanger market landscape and identify market segments that are most likely to guarantee a strong return
- To stay ahead by comprehending the ever-changing competitive landscape for the microchannel heat exchanger market
- To efficiently plan M&A and partnership deals in the microchannel heat exchanger market by identifying market segments with most promising probable sales
- To take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments in the microchannel heat exchanger market
- To obtain market revenue forecast for market by various segments from 2018 to 2027
Middle East and Africa Microchannel Heat Exchanger Market Segmentation
By Type
- Condenser
- Evaporator
- Water Coil
By Application
- HVAC
- Commercial Refrigeration
- Others
Company Profiles
- 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
By Country
- South Africa
- UAE
- Saudi Arabia
- Rest of MEA