Sales of Low GWP Refrigerants Are Estimated to Expanding at A CAGR of 11.3% By 2032
The global low GWP refrigerant market is estimated to be worth USD 25.2 billion in 2022 and is expected to exceed USD 73.7 billion by 2032, growing at an 11.3% CAGR from 2022 to 2032. By the end of 2032, the global low GWP refrigerant market is expected to generate an absolute dollar opportunity of USD 48.6 billion. The global market for low GWP refrigerants accounts for 49% of the global refrigerant market.
When refrigerants used in various applications, such as heating, ventilation, air conditioning, and refrigeration (HVAC&R), are released into the atmosphere, they can have significant GWP. As a result, growing concerns about global warming and the negative environmental effects of harmful refrigerants are prompting end-users to switch to low GWP refrigerants.
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The Low GWP Refrigerants Market report profiles the following companies, which include:
- S. Trust & Holdings, Inc.
- The Chemours Company
- Honeywell International, Inc.
- Emerson Electric Co.
- Deepfreeze Refrigerants Inc.
- Ecofreeze International
- Asahi Glass Co.
- Harp International Ltd.
- MK Chemical Corp.
- HyChill Australia
- Mexichem S.A.B de C.V.
- SINOCHEM Group Co. Ltd.
- True Manufacturing Co. Inc.
- Other Market Players
Global Low GWP Refrigerants Market by Category
By Product Type, Global Low GWP Refrigerants Market is segmented as:
- Inorganics
- Ammonia
- Carbon Dioxide
- Sulfur Dioxide
- Ethyl Chloride
- Methyl Chloride
- Fluorocarbons
- Chlorofluorocarbons
- Hydro-chlorofluorocarbons
- Hydro-fluorocarbons
- Hydro-fluoroolefins
- Hydrocarbons
- Propane
- Isobutane
- Propylene
- Others
By Application, Global Low GWP Refrigerants Market is segmented as:
- Refrigeration
- Residential Refrigeration
- Self-contained Refrigeration
- Large Self-contained Refrigeration
- Walk-in Refrigeration
- Supermarket Refrigeration
- Transport and Industrial Refrigeration
- Air Conditioning
- Residential Air Conditioning
- Commercial Air Conditioning
- Mobile Air Conditioning
- Chillers
- Centrifugal Chillers
- Scroll/Screw Chillers
By GWP Indices, Global Low GWP Refrigerants Market is segmented as:
- Less than 150 GWP
- 150 to 700 GWP
- More than 700 GWP
By Region, Global Low GWP Refrigerants Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Market Dynamics:
The report also offers an in-depth analysis of how the projected growth factors will shape the market dynamics in the coming years of the forecast period. Moreover, it also gives meaningful as well as actionable insights on the key trends that are developing the current market scenario and which will be lucrative for the future of the global Low GWP Refrigerants market.
The Low GWP Refrigerants market report will improve the revenue impact of businesses in various industries by:
- Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Low GWP Refrigerants market
- Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Low GWP Refrigerants market and offers solutions
- Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
- Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
- Helping leading companies make strategy recalibrations ahead of their competitors and peers
- Offers insights into promising synergies for top players aiming to retain their leadership position in the Low GWP Refrigerants market.
Crucial insights in the Low GWP Refrigerants market research:
- Underlying macro- and microeconomic factors impacting the growth of the market.
- Basic overview of the Low GWP Refrigerants, including market definition, classification, and applications.
- Routinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of Low GWP Refrigerants across various industries.
- Important regions and countries offering lucrative opportunities to market stakeholders.
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- Exhaustive research regarding the market to offer A to Z information.
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