Low GWP Refrigerant Market Report: Trends, Forecast and Competitive Analysis to 2030

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.

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?