North America Refrigerant Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, and Others) and Application (Refrigeration Systems, Chillers, Air-Conditioning Systems, MACs, and Others)
The North America refrigerant market is expected to grow from US$ 3,186.72 million in 2021 to US$ 4,873.73 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028.
Refrigeration systems include four fundamental components: compressor, condenser, expansion device, and evaporator. Refrigerant systems play a vital role in various industrial processes. In home appliances, these systems perform a cooling function and maintain the temperature of rooms at the desired value. With the rapid growth of the pharmaceuticals, automotive, and packaged food sectors, the demand for refrigerant systems has increased tremendously. Evolution in the cold-storage industry to preserve frozen products for a longer period to increase their shelf life has fueled the demand for refrigerant systems. Refrigeration systems are widely used in the air conditioning industry, as they absorb the environmental heat and provide cool air once it runs through compressors and evaporators. Automotive air conditioning systems allow the cooling of vehicles’ interior air and provide a cooler environment, and these systems now come as a standard in almost all newly manufactured vehicles.
The increased industrialization in emerging economies has led to the establishment of many data centers. The cooling of these data centers is achieved by passing the airflow through an equipment is allowed in the cooling system to handle heat more effectively, which helps in reducing the heating effect by impacting the demand of refrigerant market. Moreover, a rise in manufacturing scales and a surge in demand for improved maintenance of industrial equipment further boost the demand for refrigerant systems. The boom in international trade of perishable commodities, consumer demand for frozen and chilled food and beverages, and the demand from the life science and pharmaceutical industries are likely to drive the demand for refrigerants in the coming years.
With innovative features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America refrigerant market at a good CAGR during the forecast period.
North America Refrigerant Market Revenue and Forecast to 2028 (US$ Million)
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North America Refrigerant Market Segmentation
The North America refrigerant market is segmented on the basis of 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 North America refrigerant market in 2020, and the ammonia segment is expected to register the highest CAGR during forecast period. Based on application, the North America refrigerant market is segmented into refrigeration system, chillers, air-conditioning systems, MACs, and others. The refrigeration system segment dominated the market in 2020, and the air-conditioning systems segment is expected to record the highest CAGR during forecast period. Based on country, the North America refrigerant market has been segmented into the US, Canada, and Mexico.
AGC Inc.; AIR LIQUIDE SA; Airgas Inc.; 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 North America refrigerant market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Refrigerant Market, by Type
1.3.2 North America Refrigerant, by Application
1.3.3 North America Refrigerant Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Refrigerant Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Threat of Substitutes:
4.2.3 Bargaining Power of Buyers:
4.2.4 Bargaining Power of Suppliers:
4.2.5 Competitive Rivalry:
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Refrigerant Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Demand for Refrigeration System
5.1.2 Increase in Per-capita Income in Developing Economies
5.2 Market Restraints
5.2.1 Stringent Regulation against Fluorocarbon Refrigerants
5.3 Market Opportunities
5.3.1 Growing Consumption of Eco-friendly Refrigerants
5.4 Future Trends
5.4.1 Surging Demand for Energy-efficient Refrigerants
5.5 Impact Analysis
6. Refrigerant Market – North America Analysis
6.1 North America Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Refrigerant Market Analysis – By Type
7.1 Overview
7.2 North America Refrigerant Market, By Type (2020 and 2028)
7.3 HCFC
7.3.1 Overview
7.3.2 HCFC: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
7.4 HFC
7.4.1 Overview
7.4.2 HFC: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
7.5 HFO:
7.5.1 Overview
7.5.2 HFO: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
7.6 Isobutane
7.6.1 Overview
7.6.2 Isobutane: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
7.7 Propane
7.7.1 Overview
7.7.2 Propane: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
7.8 Ammonia
7.8.1 Overview
7.8.2 Ammonia: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
7.9 Carbon Dioxide
7.9.1 Overview
7.9.2 Carbon Dioxide: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
7.10 Others
7.10.1 Overview
7.10.2 Others: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
8. North America Refrigerant Market Analysis – By Application
8.1 Overview
8.2 North America Refrigerant Market, By Application (2020 and 2028)
8.3 Refrigeration system
8.3.1 Overview
8.3.2 Refrigeration System: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Chillers
8.4.1 Overview
8.4.2 Chillers: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
8.5 Air-conditioning System
8.5.1 Overview
8.5.2 Air-conditioning System: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
8.6 MACs
8.6.1 Overview
8.6.2 MACs: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
8.7 Others:
8.7.1 Overview
8.7.2 Others: Refrigerant Market – Revenue and Forecast to 2028 (US$ Mn)
9. North America Refrigerant Market – Country Analysis
9.1 Overview
9.1.1 North America: Refrigerant Market, by Key Country
9.1.1.1 US: Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Refrigerant Market, by Type
9.1.1.1.2 US: Refrigerant Market, by Application
9.1.1.2 Canada: Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Refrigerant Market, by Type
9.1.1.2.2 Canada: Refrigerant Market, by Application
9.1.1.3 Mexico: Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Refrigerant Market, by Type
9.1.1.3.2 Mexico: Refrigerant Market, by Application
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 The Chemours Company
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Arkema
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Honeywell International Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Dongyue Group
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 LINDE
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 AIR LIQUIDE SA
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Sinochem Group Co. Ltd.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Daikin Industries, Ltd.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 AGC Inc.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Airgas Inc.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 SWOT Analysis
11.10.5 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Refrigerant Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 3. US Refrigerant Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 4. Canada: Refrigerant Market, by Type– Revenue and Forecast to 2028 (USD Million)
Table 5. Canada Refrigerant Market, by Application– Revenue and Forecast to 2028 (USD Million)
Table 6. Mexico Refrigerant Market, by Type– Revenue and Forecast to 2028 (USD Million)
Table 7. Mexico Refrigerant Market, by Application– Revenue and Forecast to 2028 (USD Million)
Table 8. Glossary of Terms
LIST OF FIGURES
Figure 1. North America Refrigerant Market Segmentation
Figure 2. North America Refrigerant Market Segmentation – By Country
Figure 3. North America Refrigerant Market Overview
Figure 4. North America Refrigerant Market, By Type
Figure 5. North America Refrigerant Market, by Country
Figure 6. Ecosystem: North America Refrigerant Market
Figure 7. Expert Opinion
Figure 8. North America Refrigerant Market Impact Analysis of Drivers and Restraints
Figure 9. North America Refrigerant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. North America Refrigerant Market Revenue Share, By Type (2020 and 2028)
Figure 11. North America HCFC: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 12. North America HFC: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 13. North America HFO: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. North America Isobutane: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. North America Propane: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. North America Ammonia: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. North America Carbon Dioxide: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. North America Others: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. North America Refrigerant Market Revenue Share, By Application (2020 and 2028)
Figure 20. North America Refrigeration System: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. North America Chillers: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. North America Air-conditioning System: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. North America MACs: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 24. North America Others: Refrigerant Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 25. North America: Refrigerant Market, by Key Country – Revenue (2020) (US$ Million)
Figure 26. North America: Refrigerant Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. US: Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Refrigerant Market –Revenue and Forecast to 2028 (US$ Million)
- AGC Inc.
- AIR LIQUIDE SA
- Airgas Inc.
- Arkema
- Daikin Industries, Ltd.
- Dongyue Group
- Honeywell International Inc.
- LINDE
- Sinochem Group Co. Ltd.
- The Chemours Company
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America refrigerant market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America refrigerant market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the refrigerant market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution