Sanhua (China) and MAHLE (Germany) are the Key Players in the Microchannel Heat Exchanger Market
The MCHE market size is estimated at USD 11.3 billion in 2019 and is projected to reach USD 20.7 billion by 2024, at a CAGR of 13.0% between 2019 and 2024. MCHE is majorly used as condensers in HVAC, commercial refrigeration, and automotive applications for air conditioning. MCHE is efficient, require less refrigerant charge volume, and has better heat transfer rate as compared to its substitute products, namely, fin & tube and plate & fin heat exchangers.
The key players in the MCHE market are 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 MCHE market report analyzes the key growth strategies, such as expansion, acquisition, joint venture, and new product launch, adopted by the leading market players, between 2015 and 2018.
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Sanhua is among the key players in the MCHE market. The company adopted the organic growth strategy of expansion. In 2017, the company expanded its production base in Mexico, which is one of the automotive manufacturing hubs in North America and South America. This expansion will allow the company to cater to the demand and expand its footprints in these regions. In 2015, the company invested in a facility in Mexico to increase its manufacturing capacities of MCHE. The newly formed manufacturing unit will have capacity of 13,000 units per month.
MAHLE is one of the leading manufacturers of MCHE for automotive applications. The company adopted the organic strategy of acquisition to grow in the market. In 2015, it acquired Delphi Thermal (US), a manufacturer of thermal management systems. This acquisition will expand and add air conditioning, heat exchangers, and powertrain cooling product portfolio to its thermal management business segment.
Modine is one of the key players in the MCHE market. It is the only MCHE manufacturer that caters to the automotive, HVAC, and commercial refrigeration applications. The company adopted the strategy of acquisition to expand its revenue. For example, in 2016, the company acquired Luvata Heat Transfer Solutions (HTS), a division of Luvata Group (Finland), a manufacturer of thermal management products for commercial refrigeration and industrial coolers. This acquisition has diversified the company’s product portfolio and will help the company cater to new markets.
Related Reports:
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
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