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Low GWP Refrigerant Trends and Forecast
The future of the global low GWP refrigerant market looks promising with opportunities in the commercial refrigeration, industrial refrigeration, domestic refrigeration, stationary air-conditioning, and mobile air-conditioning markets. The global low GWP refrigerant market is expected to reach an estimated $42.7 billion by 2030 with a CAGR of 10.8% from 2024 to 2030. The major drivers for this market are increasing commercial air conditioning product use, the demand for more efficient refrigeration across a range of industries, the expanding use of hydrocarbons, and the creation of novel low-GWP refrigerants.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Low GWP Refrigerant by Segment
The study includes a forecast for the global low GWP refrigerant by type, application, and region.
Low GWP Refrigerant Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Fluorocarbons
• Hydrocarbons
• Inorganics
Low GWP Refrigerant Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Commercial Refrigeration
• Industrial Refrigeration
• Domestic Refrigeration
• Stationary Air-Conditioning
• Mobile Air-Conditioning
• Others
Low GWP Refrigerant Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Low GWP Refrigerant Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies low GWP refrigerant companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the low GWP refrigerant companies profiled in this report include-
• Linde Group
• Honeywell
• Sinochem
• Airgas
• Engas Australasia
• A-Gas
• Puyang Zhongwei Fine Chemical
• Harp International
• Tazzetti
• Shandong Yueon Chemical Industry
Low GWP Refrigerant Market Insights
Lucintel forecasts that hydrocarbon is expected to witness the highest growth over the forecast period because the hydrocarbon refrigerants have excellent thermodynamic properties, and refrigerating and air-conditioning systems operating using these substances are highly energy-efficient.
APAC will remain the largest region over the forecast period due to the fast population expansion, urbanization, and economic development in Southeast Asian, Indian, and Chinese nations, as well as, rising need for cooling systems that are both ecologically and energy-efficient.
Features of the Global Low GWP Refrigerant Market
Market Size Estimates: Low GWP refrigerants market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Low GWP refrigerants market size by type, application, and region in terms of value ($B).
Regional Analysis: Low GWP refrigerants market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the low GWP refrigerant market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the low GWP refrigerant market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the low GWP refrigerant market size?
Answer: The global low GWP refrigerant market is expected to reach an estimated $42.7 billion by 2030.
Q2. What is the growth forecast for low GWP refrigerant market?
Answer: The global low GWP refrigerant market is expected to grow with a CAGR of 10.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the low GWP refrigerant market?
Answer: The major drivers for this market are increasing commercial air conditioning product use, the demand for more efficient refrigeration across a range of industries, the expanding use of hydrocarbons, and the creation of novel low-GWP refrigerants.
Q4. What are the major segments for low GWP refrigerant market?
Answer: The future of the global low GWP refrigerant market looks promising with opportunities in the commercial refrigeration, industrial refrigeration, domestic refrigeration, stationary air-conditioning, and mobile air-conditioning markets.
Q5. Who are the key low GWP refrigerant market companies?
Answer: Some of the key low GWP refrigerant companies are as follows:
• Linde Group
• Honeywell
• Sinochem
• Airgas
• Engas Australasia
• A-Gas
• Puyang Zhongwei Fine Chemical
• Harp International
• Tazzetti
• Shandong Yueon Chemical Industry
Q6. Which low GWP refrigerant market segment will be the largest in future?
Answer: Lucintel forecasts that hydrocarbon is expected to witness the highest growth over the forecast period because the hydrocarbon refrigerants have excellent thermodynamic properties, and refrigerating and air-conditioning systems operating using these substances are highly energy-efficient.
Q7. In low GWP refrigerant market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to the fast population expansion, urbanization, and economic development in Southeast Asian, Indian, and Chinese nations, as well as, rising need for cooling systems that are both ecologically and energy-efficient.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the low GWP refrigerant market by type (fluorocarbons, hydrocarbons, and inorganics), application (commercial refrigeration, industrial refrigeration, domestic refrigeration, stationary air-conditioning, mobile air-conditioning, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Low Gwp Refrigerants Market, Low Gwp Refrigerants Market Size, Low Gwp Refrigerants Market Growth, Low Gwp Refrigerants Market Analysis, Low Gwp Refrigerants Market Report, Low Gwp Refrigerants Market Share, Low Gwp Refrigerants Market Trends, Low Gwp Refrigerants Market Forecast, Low Gwp Refrigerants Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Low GWP Refrigerant Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Low GWP Refrigerant Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Low GWP Refrigerant Market by Type
3.3.1: Fluorocarbons
3.3.2: Hydrocarbons
3.3.3: Inorganics
3.4: Global Low GWP Refrigerant Market by Application
3.4.1: Commercial Refrigeration
3.4.2: Industrial Refrigeration
3.4.3: Domestic Refrigeration
3.4.4: Stationary Air-conditioning
3.4.5: Mobile Air-conditioning
3.4.6: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Low GWP Refrigerant Market by Region
4.2: North American Low GWP Refrigerant Market
4.2.2: North American Low GWP Refrigerant Market by Application: Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration, Stationary Air-conditioning, Mobile Air-conditioning, and Others
4.3: European Low GWP Refrigerant Market
4.3.1: European Low GWP Refrigerant Market by Type: Fluorocarbons, Hydrocarbons, and Inorganics
4.3.2: European Low GWP Refrigerant Market by Application: Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration, Stationary Air-conditioning, Mobile Air-conditioning, and Others
4.4: APAC Low GWP Refrigerant Market
4.4.1: APAC Low GWP Refrigerant Market by Type: Fluorocarbons, Hydrocarbons, and Inorganics
4.4.2: APAC Low GWP Refrigerant Market by Application: Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration, Stationary Air-conditioning, Mobile Air-conditioning, and Others
4.5: ROW Low GWP Refrigerant Market
4.5.1: ROW Low GWP Refrigerant Market by Type: Fluorocarbons, Hydrocarbons, and Inorganics
4.5.2: ROW Low GWP Refrigerant Market by Application: Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration, Stationary Air-conditioning, Mobile Air-conditioning, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Low GWP Refrigerant Market by Type
6.1.2: Growth Opportunities for the Global Low GWP Refrigerant Market by Application
6.1.3: Growth Opportunities for the Global Low GWP Refrigerant Market by Region
6.2: Emerging Trends in the Global Low GWP Refrigerant Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Low GWP Refrigerant Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Low GWP Refrigerant Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Linde Group
7.2: Honeywell
7.3: Sinochem
7.4: Airgas
7.5: Engas Australasia
7.6: A-Gas
7.7: Puyang Zhongwei Fine Chemical
7.8: Harp International
7.9: Tazzetti
7.10: Shandong Yueon Chemical Industry
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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