Report : South America Microchannel Heat Exchanger Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Condenser, Evaporator, and Water Coil); Application (HVAC, Commercial Refrigeration, and Others)
Advantages of using micro channel heat exchangers in various applications to drive South America microchannel heat exchanger market at CAGR of 11.3%
According to the latest study on “South 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 South America microchannel heat exchanger market was valued at US$ 421.30 million in 2019 and is projected to reach US$ 981.54 million by 2027; it is expected to grow at a CAGR of 11.3% 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.
SAM includes countries such as Brazil, Argentina, and the rest of SAM. The continuous technological and industrial developments have positively impacted the economic growth of countries such as Brazil and Argentina. The changing economic condition in South America, the development of new manufacturing industries, and increasing support from the government for increasing industrial production provide a huge developing potential for the microchannel heat exchangers market players in South America. Furthermore, the rapid development in the automotive and power and process industries is expected to lift up the demand for microchannel heat exchangers over the forecast period. However, the use of microchannel heat exchangers is relatively low in South American countries as compared to other developed regions such as North America and Europe. Moreover, the constant research and development by the key players to develop environmentally friendly and more efficient products are anticipated to provide a developing opportunity for the market players over the forecast period. Along with continuous programs and incentives which are implemented by the governmental bodies to bolster investments and funds has resulted in numerous business opportunities. Besides, increasing the local production of refrigeration, air conditioning, infrared detectors and powerful laser mirrors and superconductors, microelectronics and thermal control of film deposition due to rapid urbanization and industrialization is forecasted to increase the demand for the microchannel heat exchangers in the near future.
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. Brazil has the highest number of confirmed cases of COVID-19 morbidities in South 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 Brazil, 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 South American region will surely affect the overall growth of the microchannel heat exchanger market.
Some of the major key players operating in the South 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.
South America Microchannel Heat Exchanger Market Revenue and Forecast to 2027
The report includes the segmentation of South America microchannel heat exchanger market as follows: