Product ID: UCMIG55A2026
Report ID:
UCMIG55A2026 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global refrigerant market represents the industry involved in the production, distribution, and sale of refrigerants used in various cooling and air conditioning applications. With a value of USD 15.4 billion in 2019, the market is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% from 2020 to 2025. This growth can be attributed to factors such as the increasing demand for cooling equipment in residential, commercial, and industrial sectors, stringent regulations and phase-out of high global warming potential (GWP) refrigerants, and the adoption of eco-friendly and energy-efficient refrigerants to mitigate environmental concerns. The market's expansion is further driven by factors like technological advancements in refrigeration systems, the growth of the HVAC-R industry, and the increasing focus on sustainability and energy conservation.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electric Utilities by segment aggregation, the contribution of the Electric Utilities in Diversified Utilities Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG55A2026