Natural Refrigerant Market
Global Natural Refrigerant Market Size, Share & Trends Analysis Report by Refrigerant Type (Inorganic Refrigerants and Hydrocarbon Refrigerant), and by Application (Refrigeration, and Air-Conditioning) Forecast Period (2022-2028)
The global natural refrigerant market is anticipated to grow at a significant CAGR of 12.8% during the forecast period. The global natural refrigerants that are available naturally and do not have any side effects on the natural climate. These are hydrocarbons, which include propane, ethane, isobutane and so on. Natural refrigerants consist of carbon dioxide, water, ammonia and so on. The rising demand for consumer products and increasing urbanization are factors that fuel the growth of the natural refrigerant market affecting the market in developing nations. The global warming potential of natural refrigerants is negligible as compared to that of HFCs, HCFCs and CFCs.
Impact of COVID-19 Pandemic on Global Natural Refrigerant Market
COVID-19 pandemic created innumerable disruptions to the manufacturing or production industries due to the lockdown and labor shortages in the industries. Restrictions imposed by various governments including travel restrictions influenced the international trade, exports and imports, and has also added to a major decrease in demand in the industry. As a result of this, the natural refrigerants market has declined during this time.
Segmental Outlook
Global natural refrigerant market is segmented on the basis of, refrigerant type, and application. Based on the refrigerant type, the market is segmented into inorganic refrigerants and hydrocarbon refrigerant. Further, the inorganic refrigerant market has been classified into carbon dioxide, ammonia, water and others. The hydro carbons refrigerant has been further segmented into ethane, propane, n-Butane and others. Based On, The Application The Market Is Sub-Segmented Into Refrigeration, And Air-Conditioning. The above two applications are further segmented into domestic, commercial, transportation and industrial applications. The above-mentioned segments can be customized as per the requirements. Among the refrigerant type segment, ammonia is anticipated to hold major share among due to its zero Ozone Depletion Potential (ODP) and Global Warming Potential (GWP), which makes it the most environmentally friendly refrigerants.
Global Natural Refrigerant Market Share by Application, 2021 (%)
The Refrigeration Sub-Segment is anticipated to Hold Prominent Share in the Global Natural Refrigerant Market
The refrigeration segment is expected to dominate the overall market share owing to increasing demand for clean and environmentally acceptable refrigerants. Refrigerators come in a variety of forms, including industrial, household, and other. Due to rise in concerns related environmental safety, devices that are integrated with eco-friendly refrigerants have been widely in demand by the end-users. End users are considerably looking for refrigerants that do not deplete the ozone layer or contribute to global warming which has in turn increased the demand of for natural refrigerants which are widely used in refrigerators.
Regional Outlooks
The global Natural Refrigerantmarket is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for particular region or country level as per the requirement. Among these, the North America regional market is expected to cater prominent growth over the forecast period, owing to increasing concern regarding global warming.
Global Natural Refrigerant Market Growth, by Region 2022-2028
The North American Region is expected to Hold Prominent Share in the Global Natural Refrigerant Market
The North American region is expected to hold a prominent share in the global natural refrigerant market owing to increasing concern regarding global warming and stringent government regulations. The EPA (The United States Environmental Protection Agency), a US federal government agency announced in 2016, it is going to ban a host of high GWP refrigerants including R404A, R134a, R407C and R410A in certain new products from as early as January 1, 2021 as a part of wide ranging new rules. Moreover, several non-profit organizations are working to advance climate-friendly natural refrigerants which is further adding to the growth of the market in this region. For instance, in 2020, The North American Sustainable Refrigeration Council (NASRC) announced that it is launching a new pilot program to offset the upfront costs of natural refrigerant technologies as high upfront cost is the primary hurdle preventing the adoption of environmentally friendly natural refrigerants.
Market Players Outlook
The major companies serving the global natural refrigerant market include A?Gas International Ltd., Ajay Air Products Pvt. Ltd., engas Australasia, Harp International Ltd., Lindeplc, HyChill Australia, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In 2021, Refrigerant supplier TEGA GmbH has acquired Linde’s Austrian refrigerants business. TEGA is a supplier of full range of HFCs and HFO gases and blends, as well as natural refrigerants and speciality gases, to wholesalers and end-users for use in air conditioning, commercial cooling systems and refrigerators.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global natural refrigerant market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Natural Refrigerant Market
• Recovery Scenario of Global Natural Refrigerant Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. A?Gas International Ltd.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. CAREL Industries S.p.A.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Danfoss
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. GTS SPA
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Harp International Ltd.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
3.8. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Natural Refrigerant Market by Refrigerant Type
4.1.1. Inorganic Refrigerants
4.1.1.1. Carbon Dioxide
4.1.1.2. Ammonia
4.1.1.3. Water
4.1.1.4. Others
4.1.2. Hydrocarbon Refrigerant
4.1.2.1. Ethane
4.1.2.2. Propane
4.1.2.3. N-Butane
4.1.2.4. Others
4.2. Global Natural Refrigerant Market by Application
4.2.1. Refrigeration
4.2.1.1. Domestic
4.2.1.2. Commercial
4.2.1.3. Transportation
4.2.1.4. Industrial
4.2.2. Air-Conditioning
4.2.2.1. Domestic
4.2.2.2. Commercial
4.2.2.3. Transportation
4.2.2.4. Industrial
4.2.2.5. Others(Stationary Air-Conditioning, Mobile Air Conditioning)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Airgas, Inc
6.2. Ajay Air Products Pvt. Ltd.
6.3. Alfa Laval
6.4. Dorin S.p.A.
6.5. Energy Recovery, Inc.
6.6. engas Australasia
6.7. Evonik Industries AG
6.8. GEA Group Aktiengesellschaft
6.9. HyChill Australia
6.10. Intergas Heating Ltd
6.11. Johnson Controls, Inc.
6.12. Natural Refrigerants Co.
6.13. Nidec Global Appliance
6.14. PuyangZhongwei Fine Chemical Co.,Ltd
6.15. Secop GmbH
6.16. Shandong Yuean New Material Co., Ltd.
6.17. TazzettiS.p.A. (“Tazzetti”)
6.18. TEKO Gesellschaft für Kältetechnik mbH
6.19. Temprite Company
6.20. True Manufacturing Co., Inc.
6.21. Lindeplc
1. GLOBAL NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2021-2028 ($ MILLION)
2. GLOBALINORGANIC REFRIGERANTSMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBALHYDROCARBON REFRIGERANTMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
5. GLOBALNATURAL REFRIGERANTIN REFRIGERATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBALNATURAL REFRIGERANTINAIR-CONDITIONINGMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
8. NORTH AMERICAN NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
9. NORTH AMERICAN NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2021-2028 ($ MILLION)
10. NORTH AMERICAN NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
11. EUROPEAN NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
12. EUROPEAN NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2021-2028 ($ MILLION)
13. EUROPEAN NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
14. ASIA-PACIFIC NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
15. ASIA-PACIFIC NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2021-2028 ($ MILLION)
16. ASIA-PACIFIC NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
17. REST OF THE WORLD NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. REST OF THE WORLD NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY REFRIGERANT TYPE, 2021-2028 ($ MILLION)
19. REST OF THE WORLD NATURAL REFRIGERANT MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL NATURAL REFRIGERANT MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL NATURAL REFRIGERANT MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL NATURAL REFRIGERANT MARKET, 2022-2028 (%)
4. GLOBAL NATURAL REFRIGERANT MARKET SHARE BY REFRIGERANT TYPE, 2021 VS 2028 (%)
5. GLOBAL INORGANIC REFRIGERANTSMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL HYDROCARBON REFRIGERANTMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL NATURAL REFRIGERANT MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
8. GLOBAL NATURAL REFRIGERANTINREFRIGERATIONMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL NATURAL REFRIGERANTINAIR-CONDITIONING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL NATURAL REFRIGERANT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. US NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
12. CANADA NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
13. UK NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
14. FRANCE NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
15. GERMANY NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
16. ITALY NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
17. SPAIN NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
18. REST OF EUROPE NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
19. INDIA NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
20. CHINA NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
21. JAPAN NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
22. SOUTH KOREA NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF ASIA-PACIFIC NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF THE WORLD NATURAL REFRIGERANT MARKET SIZE, 2021-2028 ($ MILLION)
