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Low GWP Refrigerants Market Worth $28.7 Billion by 2023 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

24 Jan, 2019, 14:30 GMT

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CHICAGO, January 24, 2019 /PRNewswire/ --

According to the new research report "Low GWP Refrigerants Market by Type (Inorganics, Hydrocarbons, Fluorocarbons), Application (Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration), and Region (Asia Pacific, Europe, North America) - Global Forecast to 2023", published by MarketsandMarkets™, the Low GWP Refrigerants Market is expected to grow from USD 16.5 billion in 2018 to USD 28.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period. The major factors driving the Low GWP Refrigerants Market are the low environmental impact of low GWP refrigerants, phasing out of CFC, HCFC, and HFC refrigerants, and the increasing demand for refrigerants and air conditioners across the globe.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Download PDF Brochure: 

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=17949781

Browse in-depth TOC on "Low GWP Refrigerants Market"

110 - Tables
18 - Figures
158 - Pages  

View detailed Table of Content here: 

https://www.marketsandmarkets.com/Market-Reports/low-gwp-refrigerant-market-17949781.html

The hydrocarbon segment of the Low GWP Refrigerants Market is expected to grow at the highest CAGR during the forecast period  

The Low GWP Refrigerants Market has been segmented on the basis of type into 3 categories, inorganics, hydrocarbons, and fluorocarbons. Among these types, hydrocarbons is expected to be the fastest-growing segment in the Low GWP Refrigerants Market during the forecast period. Hydrocarbons have excellent thermodynamic properties and refrigerating and air-conditioning systems operating using these substances are highly energy-efficient. Hydrocarbons are miscible with conventional refrigerating oils and have a relatively high critical temperature. Hydrocarbons are flammable in nature and can be explosive as well; this is a major safety concern associated with the use of hydrocarbon refrigerants and requires hermetically sealed systems with explosion protection for electric components.

Rising demand for low GWP refrigerants from the retail sector is expected to lead to the high growth of the commercial refrigeration application segment  

Commercial refrigeration includes cold displays, refrigerating chambers, ice machines & cold counters, and condensing units commonly used in supermarkets, shops, and centralized units. The commercial refrigeration segment is a rapidly growing sector of the Low GWP Refrigerants Market as it is characterized by a high refrigerant leakage rate and high energy consumption.

Europe is expected to be the largest Low GWP Refrigerants Market during the forecast period  

Various measures have been taken by the governments of countries in Europe for energy conservation and dumping of low GWP refrigerants into landfills and ponds, resulting in increasing use of low GWP refrigerants and driving its demand in the region.

Major vendors in the Low GWP Refrigerants Market include Linde Group (Germany), Honeywell (US), Sinochem Group (China), Airgas Inc. (US), Engas Australasia (Australia), A-Gas (UK), and Puyang Zhongwei Fine Chemical (China).

Get 10% Free Customization on this Report: 

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=17949781

Browse Adjacent Markets: Specialty Chemicals Market Research Reports & Consulting

Related Reports: 

Refrigerant Market by Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, and CO2), Application (Refrigerators, Large-scale Refrigerators, Chillers, Air Conditioners, and Heat Pumps), Region - Global Forecast to 2022

Industrial Refrigeration System Market by Equipment (Compressors, Condensers, Evaporators), Refrigerant Type (Ammonia, CO2, HFCs), Industry (Fruit & Vegetable Processing, Beverage, Refrigerated Warehouse), and Geography - Global Forecast to 2024

Natural Refrigerants Market by Type (Ammonia, Carbon dioxide, Hydrocarbons and Others), by Application (Refrigeration: Industrial, Commercial, and Domestic, Air Conditioning: Stationary and Mobile, and Others) - Global Trends & Forecasts to 2020

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/low-gwp-refrigerant-market.asp

Visit Our Website: https://www.marketsandmarkets.com

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