Market Overview:
The global commercial next generation refrigerants market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient and environment-friendly cooling solutions across various industries. In addition, the stringent regulations imposed by governments worldwide regarding greenhouse gas emissions are also contributing to the growth of this market. The global commercial next generation refrigerants market is segmented on the basis of type, application, and region. On the basis of type, it is divided into natural refrigerants and hydrofluoroolefins (HFOs). The natural refrigerants segment dominates this market owing to their low environmental impact as compared to other types of refrigerants available in the market. On the basis of application, it is classified into refrigerator units, air conditioning systems, heat pumps, and others (including cold stores and food processing plants). The refrigerator units segment accounts for a major share in terms of revenue in this market owing to their high adoption rate across various industries such as retail & hospitality sector and food & beverage industry.
Product Definition:
Commercial Next Generation Refrigerants are a group of refrigerants that have been developed to replace older, less efficient refrigerants in commercial and industrial applications. These new refrigerants offer increased efficiency and environmental benefits, making them an important tool for reducing greenhouse gas emissions.
Natural Refrigerants:
Natural refrigerants are those that are extracted from the earth and used as a base for creating other chemicals. Natural refrigerants currently in use include ammonia, hydrocarbons, and CO2 among others. Ammonia is one of the most commonly used natural refrigerant owing to its low cost, easy availability & production along with being a highly efficient coolant at normal room temperature (20°C).
Hydrofluoroolefins:
Hydrofluoroolefins (HFOs) are organic compounds containing one or more fluorine atom. HFOs have applications in refrigeration and air conditioning systems as they are effective heat transfer agents. They also offer high thermal stability, low vapor pressure, and excellent chemical resistance properties which make them suitable for use in various refrigerant formulations.
Application Insights:
The refrigeration application segment led the global commercial Next Generation Refrigerants market and accounted for more than 45.0% share of the total revenue in 2017. The growth can be attributed to increasing demand for cold storage facilities, which are majorly used to store perishable food products, such as fruits and vegetables. Moreover, it is also used in freezers to maintain temperature below 0°C throughout the year. This application segment is projected to witness significant growth over the forecast period owing to rising demand from food processing industries across various regions globally.
Air conditioning applications are expected register a CAGR of XX%, in terms of volume, from 2018 to 2030 owingto its ability provide comfortable climate conditions with lower energy consumption rates as compared with conventional HVAC systems based on traditional refrigerants (such as R-22).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for cooling systems, which are primarily driven by rising air conditioning sales. In addition, growing population and rapid urbanization have resulted in increased demand for commercial facilities such as malls, restaurants, hotels and hospitals among others. This scenario is anticipated to drive the next generation refrigerants market growth over the forecast period.
Europe accounted for a significant share of revenue in 2017 owing to high R&D investments undertaken by major companies pertaining to GCR technologies along with government support aimed at reducing Greenhouse Gas (GHG) emissions associated with refrigeration equipment maintenance or replacement on a long term basis across various applications such as industrial machinery; HVAC & refrigeration; mobile electronics; automotive cooling system etc.
Growth Factors:
- Stringent environmental regulations for refrigerants across the globe
- Increasing demand from end-use industries, such as food and beverage, transportation, and HVAC
- Technological advancements in refrigerant products and systems
- Rising prices of traditional refrigerants due to dwindling natural resources
- Growing awareness about the benefits of using next generation refrigerants
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Next Generation Refrigerants Market Research Report
By Type
Natural Refrigerants, Hydrofluoroolefins
By Application
Refrigeration, Air Conditioning, Heat Pump, Others
By Companies
Arkema, Honeywell, DuPont, Daikin Industries, Panasonic
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
169
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Next Generation Refrigerants Market Report Segments:
The global Commercial Next Generation Refrigerants market is segmented on the basis of:
Types
Natural Refrigerants, Hydrofluoroolefins
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Refrigeration, Air Conditioning, Heat Pump, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Arkema
- Honeywell
- DuPont
- Daikin Industries
- Panasonic
Highlights of The Commercial Next Generation Refrigerants Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Natural Refrigerants
- Hydrofluoroolefins
- By Application:
- Refrigeration
- Air Conditioning
- Heat Pump
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Next Generation Refrigerants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial Next Generation Refrigerants are a class of refrigerants that have been developed to improve energy efficiency and environmental performance. They are typically more environmentally friendly than traditional refrigerants, and they can help reduce greenhouse gas emissions.
Some of the major companies in the commercial next generation refrigerants market are Arkema, Honeywell, DuPont, Daikin Industries, Panasonic.
The commercial next generation refrigerants market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Next Generation Refrigerants Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Next Generation Refrigerants Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Next Generation Refrigerants Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Next Generation Refrigerants Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Next Generation Refrigerants Market Size & Forecast, 2020-2028
4.5.1 Commercial Next Generation Refrigerants Market Size and Y-o-Y Growth
4.5.2 Commercial Next Generation Refrigerants Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Natural Refrigerants
5.2.2 Hydrofluoroolefins
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Refrigeration
6.2.2 Air Conditioning
6.2.3 Heat Pump
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Next Generation Refrigerants Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Next Generation Refrigerants Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Natural Refrigerants
9.6.2 Hydrofluoroolefins
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Refrigeration
9.10.2 Air Conditioning
9.10.3 Heat Pump
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Natural Refrigerants
10.6.2 Hydrofluoroolefins
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Refrigeration
10.10.2 Air Conditioning
10.10.3 Heat Pump
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Natural Refrigerants
11.6.2 Hydrofluoroolefins
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Refrigeration
11.10.2 Air Conditioning
11.10.3 Heat Pump
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Natural Refrigerants
12.6.2 Hydrofluoroolefins
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Refrigeration
12.10.2 Air Conditioning
12.10.3 Heat Pump
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Natural Refrigerants
13.6.2 Hydrofluoroolefins
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Refrigeration
13.10.2 Air Conditioning
13.10.3 Heat Pump
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Next Generation Refrigerants Market: Competitive Dashboard
14.2 Global Commercial Next Generation Refrigerants Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Arkema
14.3.2 Honeywell
14.3.3 DuPont
14.3.4 Daikin Industries
14.3.5 Panasonic
