About the HVAC Refrigerant Market
HVAC equipment encompasses all equipment used for heating, ventilation, and air conditioning purposes. Efforts undertaken by various countries to reduce greenhouse gases (GHG) in order to protect the environment are driving the market. Shipments are likely to be driven by the need to replace some of the existing conventional equipment that emits harmful gases such as chlorofluorocarbons (CFCs) and hydro chlorofluorocarbons (HCFCs). Additionally, the market is expected to grow worldwide due to the demand for energy saving and efficiency, along with the latest innovations in the field of home automation. However, commercial spaces such as hotels and retail centers deploy centralized HVAC systems and variables refrigerant flow (VRF) systems that incur high energy bills, which is expected to inhibit market growth to a certain extent.
Technavio’s analysts forecast the global HVAC refrigerant market to grow at a CAGR of 6.35% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global HVAC refrigerant market for 2016-2020. In order to arrive at the market size, we have considered the demand for refrigerants from various end-user segments in the global HVAC refrigerant market. The report considers the different types of refrigerants. The demand for HVAC refrigerants across all geographies is included in market size calculation.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Heating, Ventilation, and Air Conditioning (HVAC) Refrigerant Market 2016-2020
Technavio recognizes the following companies as the key players in the global heating, ventilation, and air conditioning (HVAC) refrigerant market: Airgas Refrigerants, Arkema, Chemours, Dongyue, Honeywell, and the Linde Group.
Other Prominent Vendors in the market are: A Gas Americas, Daikin Industries, Climalife, NavinFlourine International, Shandong Yuean Chemicals, Sinochem Group (China), and SRF.
Commenting on the report, an analyst from Technavio’s team said: “A key trend that will influence market growth is the growing use of oil-free centrifugal compressors. A recent trend that has been observed is the increased use of oil-free centrifugal compressors using R-134A and R-1234ze as refrigerants. Such compressors are now regularly used in chilling water and also in condensation of carbon dioxide for circulation as a volatile secondary refrigerant. These compressors have several benefits such as light weight, compactness, virtual silence, and very low starting current. Another advantage of using oil-free compressors is that they provide an easy transition to the new type of refrigerants. The use of oil-free compressors eliminates the need to identify or develop lubricants that are compatible with the new refrigerant.”
According to the report, a key growth driver is the growing demand for energy-efficient systems. The HVAC equipment market is forecast to grow at a CAGR of 6.97% during 2015-2020. The increase in demand for HVAC equipment is fueled by the growth in the construction industry. The global construction industry is expected to record 85% growth in volume to reach $15.5 trillion by 2030. The construction industry, which currently accounts for 13% of the global GDP, will increase account for 15% of global GDP by 2020.
Further, the report states that one challenge that could restrict market growth is the concern over safe storage and transportation of refrigerants.
Airgas Refrigerants, Arkema, Chemours, Dongyue, Honeywell, the Linde Group, A Gas Americas, Daikin Industries, Climalife, NavinFlourine International, Shandong Yuean Chemicals, Sinochem Group (China), SRF.