Europe Hydrocarbon Refrigerants Market Insights Forecasts to 2032
- The Europe Hydrocarbon Refrigerants Market Size was valued at USD 197.2 Million in 2022.
- The Market is Growing at a CAGR of 8.2% from 2022 to 2032.
- The Europe Hydrocarbon Refrigerants Market Size is expected to reach USD 435.9 Million by 2032.
- Europe is expected to Grow the fastest during the Forecast period.
Get more details on this report -
The Europe Hydrocarbon Refrigerants Market Size is expected to reach USD 435.9 Million by 2032, at a CAGR of 8.2% during the Forecast period 2022 to 2032.
Europe has been a leader in the phase-out of high GWP (Global Warming Potential) refrigerants. Regulations such as the European Union's F-Gas Regulation have established specific targets for reducing the use of hazardous refrigerants, providing the push for hydrocarbon replacements.
Hydrocarbon refrigerants, mostly made of propane, isobutane, and propylene, have developed as environmentally benign alternatives in the refrigeration and air conditioning industries. They are natural refrigerants with low global warming potential (GWP) and zero ozone depletion potential (ODP), making them particularly desirable in light of environmental problems associated with traditional refrigerants. Europe's disposition toward environmentally friendly practices and severe climate change policies have significantly impacted its refrigeration and air conditioning sectors, notably indicating the increase of hydrocarbon refrigerants. These refrigerants, which are predominantly composed of propane, isobutane, and propylene, serve as green alternatives to typical fluorocarbon refrigerants. Recognizing the eco-friendliness and cost-effectiveness of hydrocarbon refrigerants, several European firms are modifying their product designs to be compatible, increasing market acceptability.
This research report categorizes the market for Europe Hydrocarbon Refrigerants Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe Hydrocarbon Refrigerants Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Europe Hydrocarbon Refrigerants Market.
Europe Hydrocarbon Refrigerants Market Report Coverage
|Market Size in 2022:||USD 197.2 Million|
|Forecast Period 2022-2032 CAGR:||8.26%|
|2032 Value Projection:||USD 435.9 Million|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Type, By Application, By Country and COVID-19 Impact Analysis|
|Companies Covered:||Tazzetti Group, Harp International, Refrigera Industriale, Dow Chemical Company, Linde Gas, A-Gas, Sinochem Group, Daikin, Air Liquide, Emerson Electric Co., Arkema, Solvay, SRS Frigadon, Nidec Secop, Beijer REF, Eurammon, True mfg, and other key venders.|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
Get more details on this report -
The Europe hydrocarbon refrigerants market is a thriving sector which demonstrates the region's commitment to environmentally friendly and sustainable refrigeration solutions. The F-Gas Regulation mandates the phase-down of high-GWP refrigerants as part of the European Union's strong policy against greenhouse emissions. This has accelerated the shift to hydrocarbon alternatives. Environmentally friendly products are becoming increasingly popular among European industries and consumers. Hydrocarbon refrigerants, with their low GWP and 0% ODP (Ozone Depletion Potential), are compatible with this environmental awareness. Several European businesses are at the cutting edge of hydrocarbon refrigerant technology, developing high-quality refrigerants and suitable appliances, hence promoting greater market acceptance. Given the flammability of hydrocarbon refrigerants, European rules emphasize severe safety precautions during handling, installation, and storage. Hydrocarbon refrigerants are seeing increasing adoption for commercial refrigeration, automobile air conditioning, and industrial applications in addition to domestic appliances. With the phase-out of high-GWP refrigerants, industries have an economic incentive to embrace cost-effective hydrocarbon substitutes, propelling market expansion even further.
- In 2022, the R290 Propane segment is expected to hold the largest share of Europe Hydrocarbon Refrigerants market during the forecast period.
Based on the type, the Europe Hydrocarbon Refrigerants Market is classified into R290 Propane, R600a Isobutane, R1270 Propylene, and others. Among these, the R290 Propane segment is expected to hold the largest share of the Europe Hydrocarbon Refrigerants market during the forecast period. The growing transition in Europe toward eco-friendly and efficient refrigerants, combined with R290's adaptability in both home and commercial applications, positions it as a market leader. R290 is a common refrigerant found in residential and commercial air conditioning systems, freezers, chillers, and other refrigeration applications. Many manufacturers are switching to R290 from older refrigerants due to its minimal environmental impact. Furthermore, the strong push from European regulatory agencies to adopt green solutions and phase out high-GWP refrigerants boosts demand for R290.
- In 2022, the air conditioning systems segment accounted for the largest revenue share of more than 42.3% over the forecast period.
On the basis of application, the Europe Hydrocarbon Refrigerants Market is segmented into refrigeration systems, chillers, air conditioning systems, heat pumps, and others. Among these, the air conditioning systems segment dominates the market with the highest revenue share of 42.3% over the forecast period. The significant number of residential and commercial areas that require air conditioning systems, along with the European Union's tough greenhouse gas emission laws, has spurred the increasing adoption of hydrocarbon refrigerants in this segment. Because of its low GWP and great energy efficiency, R290 (Propane) is increasingly being employed in home and commercial air conditioning units. The ongoing expansion of the building industry, both in the residential and commercial sectors, drives the demand for environmentally friendly air conditioning systems in Europe.
The report offers the appropriate analysis of the key organizations/companies involved within the Europe Hydrocarbon Refrigerants Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Tazzetti Group
- Harp International
- Refrigera Industriale
- Dow Chemical Company
- Linde Gas
- Sinochem Group
- Air Liquide
- Emerson Electric Co.
- SRS Frigadon
- Nidec Secop
- Beijer REF
- True mfg
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On April 2023, ECOOLTEC Grosskopf, a German transport refrigeration specialist, has begun expanding the availability of its propene (R1270)-based TM182 electric refrigeration unit for trucks, with a "significant number" of units now deployed in Europe following successful initial tests. ECOOLTEC claims that its device reduces the refrigerant charge by 90% when compared to standard transport refrigeration systems.
This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Europe Hydrocarbon Refrigerants Market based on the below-mentioned segments:
Europe Hydrocarbon Refrigerants Market, By Type
- R290 Propane
- R600a Isobutane
- R1270 Propylene
Europe Hydrocarbon Refrigerants Market, By Application
- Refrigeration Systems
- Air Conditioning Systems
- Heat Pumps
Europe Hydrocarbon Refrigerants Market, By Country
- Rest of Europe
Need help to buy this report?