Low GWP Refrigerants Market: was valued at US$ 26.39 Bn. in 2022 and is expected to grow around US$ 55.15 Bn. by 2029, at a CAGR of around 11.10% during the forecast period.
Low GWP Refrigerants Market Overview:
The low global warming potential (GWP) refrigerants are used in a varied range of types including ventilation, heating, air conditioning, and refrigeration (HVAC&R) equipment. The low GWP refrigerants are used to maintain the high level of system efficiency and show considerably lower flammability characteristics, than much more flammable hydrocarbons. The growing importance of global warming mitigation has encouraged the interest in low GWP refrigerants.
The purpose of this report is to provide a thorough examination of the Low GWP Refrigerants Market by segments and geographics. The study goes into great detail on the primary factors influencing the Low GWP Refrigerants market’s growth. The study also offers a comprehensive analysis of the market’s value chain.
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Market Scope:
The “Global Low GWP Refrigerants Market Analysis” is a detailed investigation of the Low GWP Refrigerants market, with a focus on global market trends and analysis. The goal of this research is to provide an overview of the Low GWP Refrigerants market as well as detailed market segmentation by application, end-use, and geography. The Low GWP Refrigerants market is expected to develop substantially over the forecast period. The study contains critical information on the market positions of the leading Low GWP Refrigerants players, as well as noteworthy industry trends and opportunities.
The research method used to assess and anticipate the Low GWP Refrigerants market begins with secondary research using sources that collect revenue data from key suppliers. When calculating market segment estimation, the vendor offerings are also considered. Using the bottom-up method, the whole size of the Low GWP Refrigerants market was calculated using the revenue of significant enterprises.
Segmentation:
The hydrocarbons registered as having the biggest market share by kind in 2021. Its exceptional thermodynamic qualities, refrigeration, and air-conditioning systems are the key causes. Similarly, hydrocarbon refrigerants have a relatively high critical temperature and are miscible with standard refrigerating oils.
Commercial refrigerants held the largest market share in 2021, and they are anticipated to grow at the highest CAGR going forward, according to the application. Commercial refrigeration is typically utilised in supermarkets, shops, and centralised facilities and includes refrigerating chambers, ice makers, and cold counters. Supermarket cold storage relies on hydrocarbons and CO2, both of which have been around for a while. In cold and temperate climates, refrigeration (centralised systems) CO_2 cascade systems replace typical HFC systems in supermarkets.
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Key Players:
The major players covered in the Low GWP Refrigerants market report are
• Linde Group
• Honeywell International Inc.
• Sinochem
• Airgas
• Engas Australasia
• A-gas
• Puyang Zhongwei Fine Chemical Co., Ltd.
• Harp International Ltd.
• Tazzetti S.p.A.
• The Chemours Company
• Mexichem S.A.B. de C.V.
• Airedale Air Conditioning
• Dongyue Group Co., Ltd.
• Zheijang Juhua Co.
• Jiangsu Meilan Chemica Co. Ltd.
• Arkema Inc
• DAIKIN INDUSTRIES, Ltd.
• Danfoss
• ECO-FREEZE INTERNATIONAL
• Koura
• Hychill Australia
Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Low GWP Refrigerants Market:
Aerospace and defense, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among other industries, have all been affected by the COVID-19 outbreak. COVID-19 has had an impact on the Low GWP Refrigerants market in general, as well as the growth rate in 2019-2020, as the impact of COVID-19 spread. Our most recent inquiry, opinions, and bits of knowledge on the market are critical to the businesses and associations in the Low GWP Refrigerants industry,
Key Questions Answered in the Low GWP Refrigerants Market Report are:
- Which segment grabbed the largest share in the Low GWP Refrigerants market?
- What was the competitive scenario of the Low GWP Refrigerants market in 2021?
- Which are the key factors responsible for the Low GWP Refrigerants market growth?
- Which region held the maximum share in the Low GWP Refrigerants market in 2021?
