The global natural refrigerant market is anticipated to grow at a considerable CAGR of 12.8% during the forecast period (2022-2028). Increasing research and development activities to develop safe and durable products in accordance with government rules and regulations are expected to provide high growth opportunities for global natural refrigerant market over the forecast period. Major initiatives are taken in compliance with various domestic and global policies aiming to develop new variants of natural refrigerants with improved performance and increased functionality and safety. For instance, in 2020, the Bureau of India Standards (BIS) adopted IEC 60335-2-40:2018 and Code of Practice for design and installation of the closed-circuit ammonia systems (MED 3 (14430)). Both of these standards target natural refrigerants and are directed to make them safe to use in all types of cooling applications.
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Moreover, due to the increasing end-usages of the air-conditioner, refrigerator, and electronics appliances, the overall demand for the refrigerants are further escalating. They are increasingly used in various applications for refrigeration: industrial, commercial and domestic; and air-conditioning: stationary and mobile along with other applications such as in chillers and heat pumps. Manufacturers are majorly focusing on expanding their existing businesses to fulfill the rising demand for natural refrigerants from various industries, which is also expected to significantly contribute in the global natural refrigerant market. For instance, Embraco, a global provider of refrigeration technology for the residential and commercial cold chain, announced that it will be launching multiple solutions for refrigeration at the AHR show, in Las Vegas, from January 31 to February 2, 2022. AHR is the first public appearance of Embraco’s new condensing units (CDUs) portfolio which has a vast array of options in natural refrigerant R290 – which are in line with all global warming potential regulations.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Refrigerant Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- A?Gas International Ltd., Ajay Air Products Pvt. Ltd., engas Australasia, Harp International Ltd., Linde plc, HyChill Australia, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Natural Refrigerant Market Report Segment
By Refrigerant Type
• Inorganic Refrigerants
• Hydrocarbon Refrigerant
By Application
• Refrigeration
• Air-Conditioning
Global Natural Refrigerant Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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