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)
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.
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. Microchannel heat exchangers find applications in various essential 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 offered by microchannel heat exchangers include high volumetric heat flux, compactness for space-critical applications, robust design, efficient flow distribution, and moderate pressure drops.
The COVID-19 pandemic first began in Wuhan, China, during December 2019, and since then it has spread across the world at a fast pace. The US, India, Brazil, Russia, Spain, Argentina, and France are among the most affected countries in terms of confirmed cases and reported deaths as of October 2020. According to the latest WHO figures as of October 2020, there are ~40,251,950 confirmed cases and 1,116,131 total deaths globally. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. North American chemical and materials industry is one of the major industries suffering serious disruptions, such as supply chain breaks and interruptions in manufacturing, due to COVID-19 outbreak. The lockdown of various plants and factories in Brazil as well as leading regions such as Asia Pacific and Europe is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods. All these factors have greatly affected the South America microchannel heat exchanger market.
South America Microchannel Heat Exchanger Market
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Market Insights
Steady Growth in Automotive Production
In automotive applications, heat exchangers are used for transferring heat from hot exhaust gas to the coolant fluid to increase the temperature of the coolant. Furthermore, the ability to efficiently transfer heat between fluids using lightweight, compact heat exchangers is important in a variety of applications, such as automotive radiators, air conditioning, and aerospace applications. Microchannel heat exchangers are well suited to these applications due to the compactness, lightness, and high heat transfer performance of the microchannel. MCHE is a well-proven technology, which has been widely used in the automotive industry for 20 years due to its efficiency, economy, recyclability, and lightness. Microchannel aluminum heat exchangers are used in the automotive industry due to their energy efficiency. Heat exchanger manufacturing companies are investing heavily in R&D to develop energy-efficient heat exchangers. Vendors are actively researching the use of thermoelectric technology for the recovery of lost heat energy. Research is ongoing on the TE waste heat energy recovery method for the application of internal combustion engines in the automotive sector. A TEG framework for automotive waste heat recovery systems would also be implemented. The use of the automotive plate-fin heat exchanger and TEG would enhance heat transfer. For example, Climetal has introduced advanced microchannel aluminum heat exchangers for HVAC systems in automotive and other commercial systems. The close spacing and small channel diameter of the microchannel aluminum heat exchangers lead to the development of a heat exchanger with very high energy efficiency and a very low refrigerant charge. Thus, by improving the design of the heat exchanger, it is able to offer improved energy efficiency and savings in terms of operating costs. Developments in the automotive heat exchanger technology are expected to increase the use of automotive heat exchangers in automotive vehicles.
Type Based Insights
Based on type, the microchannel heat exchanger market is segmented into condenser, evaporator and water coil. The condenser segment led the microchannel heat exchanger market with the highest market share in 2019. A condenser is a part of a cooling system (water cooled or air cooled), which is used to remove heat produced by an industrial or commercial process. In condenser coils, the lower header acts as a liquid refrigerant receiver. Construction of the header in this way decreases crucial refrigerant charge problems and optimizes the output of the condenser coil during part load operation. The condenser is the physical state of the heat exchange fluid in which the hot fluid remains at a constant temperature throughout its passage through the heat exchanger, while the temperature of the other fluid (coolant) steadily increases from inlet to outlet. Microchannel condensers are high-performance exchangers. They allow higher global heat transfer coefficients, despite their reduced dimensions. The condenser segment accounted for a significant market share due to the high demand from air conditioner systems for automotive, residential, and commercial sectors. The high demand for condensers in the microchannel heat exchanger is because of the rise in demand from the heat, ventilation, air conditioning (HVAC) industry owing to its compact nature, fewer refrigerant requirements, and high heat transfer rates.
South America Microchannel Heat Exchanger Market, by Type – 2019 and 2027
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Application Based Market Insights
Based on application, the microchannel heat exchanger market is segmented into HVAC, commercial refrigeration, and others. The others segment led the microchannel heat exchanger market with the highest market share in 2019. The advantages provided by the microchannel heat exchangers include high volumetric heat flux, compactness for space-critical applications, robust design, efficient flow distribution, and moderate pressure drops. Due to these advantages, it is highly preferred in various applications. Honeywell Aerospace has been designing microchannel heat exchangers for aerospace applications. These heat exchangers deliver a substantial reduction in volume and weight reduction compared to state-of-the-art aerospace heat exchangers constructed using offset plate and fin interrupted surfaces.
Strategic Insights
Product development, merger and acquisition, and business planning are the commonly adopted strategies by companies to expand their product portfolio. Hanon Systems, The Sanhua Holding Group, MAHLE GmbH are amongst the market players implementing this strategy to enlarge the customer base and gain significant market share in South America, which in turn permits them maintain their brand name in the South America market.
Report Spotlights
- Progressive industry trends in the South America microchannel heat exchanger market that help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the South America microchannel heat exchanger market from 2017 to 2027
- Estimation of South America microchannel heat exchanger demand across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the market competition in South America
- Market trends and outlook, coupled with factors driving and restraining the growth of the South America microchannel heat exchanger market
- Decision-making process by understanding strategies that underpin commercial interest with regard to the South America microchannel heat exchanger market growth
- South America microchannel heat exchanger market size at various nodes of market
- Detailed overview and segmentation of the South America microchannel heat exchanger market, as well as its dynamics in the industry
- South America microchannel heat exchanger market size in various regions with promising growth opportunities
South America Microchannel Heat Exchanger Market, by Type
- Condenser
- Evaporator
- Water Coil
South America Microchannel Heat Exchanger Market, 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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Microchannel Heat Exchanger Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 SAM
4.3 Expert Opinion
5. Microchannel Heat Exchanger Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Steady Growth in Automotive Production
5.1.2 Advantages of using Micro Channel Heat Exchangers in various applications
5.2 Market Restraints
5.2.1 Volatile Prices of Raw Material and high cost associated with microchannel heat exchangers
5.3 Market Opportunities
5.3.1 Use of Thermal Management Systems for EVs
5.4 Future Trends
5.4.1 High Demand for MCHE in the growing HVAC Industry
5.5 Impact Analysis of Drivers and Restraints
6. Microchannel Heat Exchanger – SAM Market Analysis
6.1 Microchannel heat exchanger market Overview
6.2 SAM Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning of Key Players
7. SAM Microchannel Heat Exchanger Market Analysis – By Type
7.1 Overview
7.2 Overview
7.3 Microchannel Heat Exchanger Market, By Type (2019 and 2027)
7.4 Condenser
7.4.1 Overview
7.4.2 Condenser: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Evaporator
7.5.1 Overview
7.5.2 Evaporator: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Water Coil
7.6.1 Overview
7.6.2 Water Coil: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
8. Microchannel Heat Exchanger Market Analysis – By Application
8.1 Overview
8.2 Microchannel Heat Exchanger Market, By Application (2019 and 2027)
8.3 HVAC
8.3.1 Overview
8.3.2 HVAC: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Commercial Refrigeration
8.4.1 Overview
8.4.2 Commercial Refrigeration: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
9. Microchannel Heat Exchanger Market – Country Analysis
9.1 Overview
9.1.1 SAM: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
9.1.2 SAM: Microchannel Heat Exchanger Market, by Type
9.1.3 SAM: Microchannel Heat Exchanger Market, by Application
9.1.4 SAM: Microchannel Heat Exchanger Market, by Key Country
9.1.4.1 Brazil: Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.1.1 Brazil: Microchannel Heat Exchanger Market, by Type
9.1.4.1.2 Brazil: Microchannel Heat Exchanger Market, by Application
9.1.4.2 Argentina: Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.2.1 Argentina: Microchannel Heat Exchanger Market, by Type
9.1.4.2.2 Argentina: Microchannel Heat Exchanger Market, by Application
9.1.4.3 Rest of SAM: Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.3.1 Rest of SAM: Microchannel Heat Exchanger Market, by Type
9.1.4.3.2 Rest of SAM: Microchannel Heat Exchanger Market, by Application
10. Overview- Impact of COVID-19 of SAM Microchannel Heat Exchanger Market
10.1 Overview
10.2 South America: Impact assessment of COVID-19 Pandemic
11. Company Profiles
11.1 API HEAT TRANSFER
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.2 CLIMETAL S.L.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.3 DANFOSS
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.4 DENSO CORPORATION
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.5 HANON SYSTEM
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.5 Financial Overview
11.5.6 SWOT Analysis
11.6 KALTRA
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.7 ZHEJIANG KANGSHENG CO. LTD (KASUN)
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.8 MAHLE GMBH
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.9 MODINE MANUFACTURING COMPANY
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.10 SANHUA HOLDING GROUP
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Key Developments
11.10.5 Financial Overview
11.10.6 SWOT Analysis
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. SAM Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. SAM Microchannel Heat Exchanger Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. SAM Microchannel Heat Exchanger Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. Brazil Microchannel Heat Exchanger Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. Brazil Microchannel Heat Exchanger Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. Argentina Microchannel Heat Exchanger Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Argentina Microchannel Heat Exchanger Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. Rest of SAM Microchannel Heat Exchanger Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. Rest of SAM Microchannel Heat Exchanger Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 10. Glossary of Terms, Microchannel Heat Exchanger Market
LIST OF FIGURES
Figure 1. SAM Microchannel Heat Exchanger Market Segmentation
Figure 2. SAM Microchannel Heat Exchanger Market Segmentation – By Country
Figure 3. SAM Microchannel Heat Exchanger Market Overview
Figure 4. Condenser Segment Held Largest Share of SAM Microchannel Heat Exchanger Market
Figure 5. Brazil Held Largest Share of SAM Microchannel Heat Exchanger Market
Figure 6. SAM Microchannel Heat Exchanger Market, Industry Landscape
Figure 7. SAM PEST Analysis
Figure 8. Expert Opinion
Figure 9. Microchannel Heat Exchanger Market Impact Analysis of Driver and Restraints
Figure 10. SAM: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Market Positioning of Key Player In Microchannel Heat Exchanger Market
Figure 12. SAM: Microchannel Heat Exchanger Market Revenue Share, by Type (2019 and 2027)
Figure 13. Condenser: Microchannel Heat Exchanger Market – Revenue And Forecast To 2027 (US$ Million)
Figure 14. Evaporator: Microchannel Heat Exchanger Market – Revenue And Forecast To 2027 (US$ Million)
Figure 15. Water Coil: Microchannel Heat Exchanger Market – Revenue And Forecast To 2027 (US$ Million)
Figure 16. SAM: Microchannel Heat Exchanger Market Revenue Share, by Application (2019 and 2027)
Figure 17. HVAC: Microchannel Heat Exchanger Market – Revenue And Forecast To 2027 (US$ Million)
Figure 18. Commercial Refrigeration: Microchannel Heat Exchanger Market – Revenue And Forecast To 2027 (US$ Million)
Figure 19. Others: Microchannel Heat Exchanger Market – Revenue And Forecast To 2027 (US$ Million)
Figure 20. SAM: Microchannel Heat Exchanger Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. SAM: Microchannel Heat Exchanger Market Revenue Share, by Type (2019 and 2027)
Figure 22. SAM: Microchannel Heat Exchanger Market Revenue Share, by Application (2019 and 2027)
Figure 23. SAM: Microchannel Heat Exchanger Market Revenue Share, by Key Country (2019 and 2027)
Figure 24. Brazil: Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. Argentina: Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Rest of SAM: Microchannel Heat Exchanger Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in South America Country Markets
- 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
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Middle East and Africa Microchannel Heat Exchanger Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.