With the increasing disposable income and growing population, the demand for air conditioners and other home appliances in which refrigerants are used for cooling purposes has surged. In developing economies, construction activities have fueled the demand for refrigerants, as split ACs are widely used in construction. The construction industry is flourishing with the growing disposable income, especially in the middle-class population; elevating standards of living; and an increasing number of nuclear families. Apart from this, the mushrooming hypermarkets, supermarkets, and food retail chains, coupled with the rise in packaged and frozen food consumption, have significantly propelled the demand for refrigerants. In cost-sensitive economies, food wastage concerns fuel the demand for domestic refrigeration.
With innovative features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe refrigerant market at a good CAGR during the forecast period.
Europe Refrigerant Market Segmentation
The Europe refrigerant market is segmented based on type, application, and country. Based on type, the market is segmented into HCFC, HFC, HFO, isobutane, propane, ammonia, carbon dioxide, and others. The HFC segment dominated the market in 2020, and the ammonia segment is expected to register the highest during forecast period. Based on application, the Europe refrigerant market is segmented into refrigeration system, chillers, air-conditioning systems, MACs, and others. The refrigeration system segment dominated the market in 2020, and air-conditioning systems segment is expected to record the highest CAGR during forecast period. Based on country, the Europe refrigerant market has been segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe.
AGC Inc.; AIR LIQUIDE SA; Arkema; Daikin Industries, Ltd.; Dongyue Group; Honeywell International Inc.; LINDE; Sinochem Group Co. Ltd.; and The Chemours Company are among the leading companies in the Europe refrigerant market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,551.73 Million |
| Market Size by 2028 | US$ 2,286.52 Million |
| CAGR (2021 - 2028) | 5.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Refrigerant Market is valued at US$ 1,551.73 Million in 2021, it is projected to reach US$ 2,286.52 Million by 2028.
As per our report Europe Refrigerant Market, the market size is valued at US$ 1,551.73 Million in 2021, projecting it to reach US$ 2,286.52 Million by 2028. This translates to a CAGR of approximately 5.7% during the forecast period.
The Europe Refrigerant Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Refrigerant Market report:
The Europe Refrigerant Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Refrigerant Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Refrigerant Market value chain can benefit from the information contained in a comprehensive market report.
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