Market Overview:
The global R-124 refrigerant market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for automobiles and household appliances across the globe. The OEM segment is expected to account for a major share of the global R-124 refrigerant market during the forecast period. This can be attributed to the increasing demand for automobiles and household appliances that use air conditioning systems that require R-124 refrigerant. The APAC region is expected to exhibit high growth rates during the forecast period owing to rising disposable incomes and an increase in purchasing power parity (PPP) in countries such as China and India.
Product Definition:
A refrigerant is a substance used in a heat pump or refrigerator to transfer thermal energy from one location to another, and thereby cool the first location. The most common refrigerants are ammonia, propane, butane, and water.
OEM:
OEM is short for original equipment manufacturer. It's a company that manufactures the same type of products as another company but does not compete with it in the market. In other words, if your refrigerator is made by Whirlpool and they have an OEM division, it means that they do not sell their products directly but only provide services to other companies’ customers. The main function of OEM is to manufacture electronic components such as LCD screens, copiers and printers etc.
Aftermarket:
Aftermarket is the secondary market for R-124 Refrigerant. It includes all the activities related to refrigeration equipment and its parts after they are manufactured but before they get installed in any facility. The major reason for this activity being necessary is due to a lack of availability of original equipment manufacturers (OEMs) or because these OEMs have discontinued their products and therefore there is no other option but to sell these products through aftermarkets.
Application Insights:
The global demand for R-124 refrigerant is expected to witness growth in the automobile air conditioning application owing to its superior properties, such as low gas volume requirement, high liquid content and low operating temperature. In addition, the product also has a higher capacity for heat transfer which enables better cooling performance during automobile travels at high altitudes. The expansion of automotive industry across developing countries in Asia Pacific is anticipated to fuel the segment growth over the forecast period.
Household air conditioner was estimated as the largest application segment with a market share of more than 40% in 2017 on account of increasing urbanization along with rising disposable income levels among consumers in emerging economies including China and India. Moreover, government initiatives regarding installation of energy-efficient products are likely to propel industry growth over next eight years or so. Rising use of household appliances including refrigerators and washing machines will boost product demand from domestic appliances applications during future outlook period (2030 - 2037).
Regional Analysis:
North America accounted for the largest share of global revenue in 2017. The region is expected to maintain its dominance over the forecast period as well. This can be attributed to increasing R-124 consumption in household and commercial applications, along with stringent government regulations regarding VOC emissions from refrigerants. In North America, most of the demand is fulfilled through imports from China and Russia; however, rising domestic production capacity may have an adverse impact on market prices in future as there are limited number of manufacturers that produce this type of refrigerant across U.S.
Asia Pacific regional market captured a significant share owing to growing automotive industry across countries such as India, China Japan Thailand Indonesia etc.
Growth Factors:
- Increasing demand for energy-efficient appliances
- Stringent environmental regulations worldwide
- Rising disposable income of consumers in developing countries
- Technological advancements in refrigeration systems
- Growing popularity of supermarket chains and cold storage facilities
Scope Of The Report
Report Attributes
Report Details
Report Title
R-124 Refrigerant Market Research Report
By Type
OEM, Aftermarket
By Application
Household air conditioner, Automobile air-conditioning, Refrigeration Equipment, Other
By Companies
Daikin, Chemours, Arkema, Dongyue Group, Zhejiang Juhua, Mexichem, Meilan Chemical, Sanmei, Sinochem Group, Linde A.G., Daikin
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
124
Number of Tables & Figures
87
Customization Available
Yes, the report can be customized as per your need.
Global R-124 Refrigerant Market Report Segments:
The global R-124 Refrigerant market is segmented on the basis of:
Types
OEM, Aftermarket
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
Household air conditioner, Automobile air-conditioning, Refrigeration Equipment, Other
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:
- Daikin
- Chemours
- Arkema
- Dongyue Group
- Zhejiang Juhua
- Mexichem
- Meilan Chemical
- Sanmei
- Sinochem Group
- Linde A.G.
- Daikin
Highlights of The R-124 Refrigerant 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:
- OEM
- Aftermarket
- By Application:
- Household air conditioner
- Automobile air-conditioning
- Refrigeration Equipment
- Other
- 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 R-124 Refrigerant 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?
R-124 refrigerant is a synthetic gas that is used in air conditioning and refrigeration systems. It is a colorless, odorless, nonflammable gas that has low toxicity.
Some of the key players operating in the r-124 refrigerant market are Daikin, Chemours, Arkema, Dongyue Group, Zhejiang Juhua, Mexichem, Meilan Chemical, Sanmei, Sinochem Group, Linde A.G., Daikin.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 R-124 Refrigerant 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 R-124 Refrigerant Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 R-124 Refrigerant 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 R-124 Refrigerant 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 R-124 Refrigerant Market Size & Forecast, 2020-2028 4.5.1 R-124 Refrigerant Market Size and Y-o-Y Growth 4.5.2 R-124 Refrigerant 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 OEM
5.2.2 Aftermarket
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 Household air conditioner
6.2.2 Automobile air-conditioning
6.2.3 Refrigeration Equipment
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global R-124 Refrigerant 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 R-124 Refrigerant 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 OEM
9.6.2 Aftermarket
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 Household air conditioner
9.10.2 Automobile air-conditioning
9.10.3 Refrigeration Equipment
9.10.4 Other
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 OEM
10.6.2 Aftermarket
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 Household air conditioner
10.10.2 Automobile air-conditioning
10.10.3 Refrigeration Equipment
10.10.4 Other
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 OEM
11.6.2 Aftermarket
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 Household air conditioner
11.10.2 Automobile air-conditioning
11.10.3 Refrigeration Equipment
11.10.4 Other
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 OEM
12.6.2 Aftermarket
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 Household air conditioner
12.10.2 Automobile air-conditioning
12.10.3 Refrigeration Equipment
12.10.4 Other
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 OEM
13.6.2 Aftermarket
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 Household air conditioner
13.10.2 Automobile air-conditioning
13.10.3 Refrigeration Equipment
13.10.4 Other
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 R-124 Refrigerant Market: Competitive Dashboard
14.2 Global R-124 Refrigerant Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Daikin
14.3.2 Chemours
14.3.3 Arkema
14.3.4 Dongyue Group
14.3.5 Zhejiang Juhua
14.3.6 Mexichem
14.3.7 Meilan Chemical
14.3.8 Sanmei
14.3.9 Sinochem Group
14.3.10 Linde A.G.
14.3.11 Daikin