Europe Commercial Next Generation Refrigerants Market was valued at USD 2.3 Billion in 2022 and is projected to reach USD 5.0 Billion by 2030, growing at a CAGR of 10.1% from 2024 to 2030.
The European commercial sector is undergoing a significant transformation in its refrigeration practices, driven by environmental concerns and stringent regulations. Traditional refrigerants are being phased out in favor of next-generation alternatives with lower Global Warming Potential (GWP), aligning with the European Union's commitment to sustainability. This shift not only meets regulatory requirements but also addresses the growing demand for energy-efficient cooling solutions across various industries.
Types of Next-Generation Refrigerants
Hydrofluoroolefins (HFOs): These refrigerants offer low GWP and are gaining popularity as replacements for hydrofluorocarbons (HFCs) in commercial applications.
Natural Refrigerants: Options like ammonia, carbon dioxide, isobutane, and propane are favored for their minimal environmental impact and efficiency in industrial refrigeration systems.
Hydrofluorocarbons (HFCs) with Low GWP: Modified HFCs are being developed to reduce environmental impact while maintaining performance in existing systems.
Industry Requirements and Applications
Different sectors have unique refrigeration needs:
Food and Beverage Industry: Requires refrigerants that ensure the preservation of perishable goods while adhering to environmental standards. The demand for natural refrigerants is increasing due to their efficiency and low GWP.
Pharmaceutical Sector: Needs precise temperature control for vaccine storage and other sensitive products, driving the adoption of reliable and eco-friendly refrigerants.
Retail and Commercial Spaces: Supermarkets and convenience stores are transitioning to refrigeration systems using next-generation refrigerants to enhance energy efficiency and comply with regulations.
Industrial Manufacturing: Demands robust refrigeration solutions for processes requiring consistent cooling, leading to the adoption of ammonia-based systems and other natural refrigerants.
Regulatory Landscape and Market Trends
The European Union's F-Gas Regulation aims to reduce the use of high-GWP refrigerants, promoting the adoption of alternatives. This regulatory framework influences market dynamics, encouraging investments in technologies compatible with next-generation refrigerants. The market for these refrigerants is projected to grow significantly, with estimates suggesting an increase from USD 10 billion in 2023 to USD 22 billion by 2031, reflecting a Compound Annual Growth Rate (CAGR) of 21.7% from 2024 to 2031.
Conclusion
The transition to next-generation refrigerants in Europe's commercial sector is a pivotal step towards environmental sustainability and operational efficiency. Industries are actively seeking refrigerants that meet performance requirements while minimizing environmental impact. This shift is reshaping the refrigeration landscape, presenting opportunities for innovation and growth in alignment with global climate objectives.
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Honeywell
DuPont
Daikin Industries
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Commercial Next Generation Refrigerants Market
Hydrofluoroolefins (HFOs)
Hydrofluorocarbons (HFCs)
Natural Refrigerants
Ammonia
Carbon Dioxide (CO2)
Commercial Refrigeration
Industrial Refrigeration
Transport Refrigeration
Air Conditioning
Heat Pumps
Food and Beverages
Healthcare and Pharmaceuticals
Automotive
Residential
Retail
Liquefied
Gaseous
Direct Sales
Third-Party Distributors
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Commercial Next Generation Refrigerants Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Commercial Next Generation Refrigerants Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Commercial Next Generation Refrigerants Market, By Type
6. Europe Commercial Next Generation Refrigerants Market, By Application
7. Europe Commercial Next Generation Refrigerants Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Commercial Next Generation Refrigerants Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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