According to IMARC Group latest report titled “Europe Hydrocarbon Refrigerants Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on Europe Hydrocarbon Refrigerants market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Europe hydrocarbon refrigerants market size reached US$ 209.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 324.6 Million by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
Hydrocarbon refrigerants are a class of natural refrigerants composed of hydrocarbons, such as propane and isobutane, which serve as cooling agents in various systems. Unlike traditional synthetic refrigerants, hydrocarbon refrigerants have gained popularity for their minimal environmental impact. They are free of ozone-depleting substances and have a significantly lower global warming potential (GWP). They come in different types, with propane (R-290) and isobutane (R-600a) being the most prevalent. These refrigerants are suitable for a wide range of applications, including domestic refrigerators, commercial refrigeration, and air conditioning systems. The advantages of hydrocarbon refrigerants extend beyond their eco-friendliness.
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Market Trends:
The Europe hydrocarbon refrigerants market is majorly driven by the growing awareness of environmental sustainability. In line with this, European governments and regulatory bodies are actively promoting the use of hydrocarbon refrigerants due to their minimal environmental impact. This push aligns with the European Union’s commitment to accomplishing climate objectives and lowering greenhouse gas emissions, making hydrocarbon refrigerants a preferred choice for many industries. Along with this, the phase-out of high-GWP synthetic refrigerants, such as hydrofluorocarbons (HFCs), under the F-Gas Regulation is accelerating the adoption of hydrocarbon refrigerants. European industries and businesses are transitioning to these natural alternatives to meet compliance requirements while reaping the benefits of lower energy consumption and reduced carbon footprint. Furthermore, ongoing research aimed at optimizing the performance of hydrocarbon refrigerants is creating a positive market outlook.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Linde gas
- A-Gas
- SRS Frigadon
- Nidec Secop
- Beijer REF
- Eurammon
- True mfg
Europe Hydrocarbon Refrigerants Market Segmentation:
Our report has categorized the market based on region, type and application.
Breakup by Type:
- R290
- R600a
- R1270
- Others
Amongst these, propane (R290) currently holds the largest share.
Breakup by Application:
- Refrigeration Systems
- Chillers
- Air Conditioning Systems
- Heat Pumps
- Others
Refrigeration systems currently represent the leading segment, accounting for the largest share.
Breakup by Region:
- Germany
- United Kingdom
- France
- Others
Germany currently represents the largest market for hydrocarbon refrigerants in Europe.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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