Low Gwp Refrigerants Market Analysis

The global GWP refrigerants market is expected to witness a robust growth during the forecast period. The growth of the low GWP refrigerants market is supported by the increasing demand for refrigerants and air conditioners across the globe. Moreover, with the advancement in technology and increasing awareness about global warming, environmental concern and mandated regulations to reduce the carbon footprint has led to increase in adoption of low GWP refrigerants in the global Air Conditioning and Refrigeration industry. Furthermore, implementation of regulation, government incentives and policies has supported the research & development projects to ensure quick and effective development of alternative refrigeration technologies such as low GWP refrigerants. 

The most common low GWP refrigerants include ammonia and hydrocarbons. However, hydrocarbons are highly flammable in nature, this is a major safety concern associated with the use of hydrocarbon refrigerants, restraining the growth of the segment. Market participants are also investing on research and development of synthetic gas alternatives such as hydro-fluoro-olefins and other gases with the focus on reducing the effect on environment and extremely low GWP refrigerants.

Low GWP Refrigerants Market: Segmentation

Low GWP Refrigerants Market: Regional Overview

Europe is estimated to hold dominating position in the global low GWP refrigerants market during the forecast period. In 2014, European Union issued F-gas regulations, with the aim to reduce HFC consumption by 79% over the period of 2016 – 2030, this will further augment the growth of European low GWP refrigerants market during the forecast period. Furthermore, manufacturers across Europe have adopted hydrogen technology and new energy efficient appliances is based on hydrocarbons. North America low GWP refrigerants market is expected to witness moderate growth during the forecast period driven by environmental regulations and policies. For instance, in 2014 the government proposed an amendment to the Montreal Protocol to reduce consumption of HFCs by 85% over the period 2016–2035, for NonA5 (developed) countries driving the growth of low GWP refrigerants market in the region. Asia Pacific low GWP refrigerants market is expected to witness significant growth owing to strong growth of refrigeration and air conditioning industry. Hydrocarbon technology is expected to gain significant momentum in low GWP refrigerants market across the developing regions such as Asia, Africa and Latin America.

Low GWP Refrigerants Market: Market Participants

The research report presents a comprehensive assessment of the Low GWP Refrigerants market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Low GWP Refrigerants market report also contains projections using a suitable set of assumptions and methodologies. The Low GWP Refrigerants market research report provides analysis and information according to Low GWP Refrigerants market segments such as geographies, application, and industry.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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