Low GWP Refrigerant Market Size Global Industry Analysis,Share, Growth, Trends, and Forecast 2022-2031

The market for low GWP refrigerants is expected to develop at a CAGR of over 9% during the forecast period. The major factor driving the growth of the low GWP refrigerant market is the low environmental impact and the rising regulatory barriers on the usages of high GWP refrigerants. On the flip side, unfavorable conditions arising due to COVID-19 outbreak has created a huge impact on the global market.

– Low GWP Refrigerant is extensively used in the commercial sectors. Grocery stores, supermarkets, etc. highly depend on refrigerants and is the largest market for low GWP refrigerant.
– Europe is expected to be the largest market due to the large-scale production and heavy consumption of the low GWP refrigerant in the region.

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Key Market Trends

Commercial Refrigeration to Dominate the Market


– Low global warming potential (GWP) refrigerant solutions have been in greater demand for air conditioning and refrigeration applications. These low-GWP refrigerants increase energy consumption, introduces safety risks, and require significant equipment modifications.
– Moreover, these are primarily used to reduce service equipment energy consumption and carbon emissions by 50% compared to HFCs and CFCs.
– Low global warming potential (GWP) refrigerant solutions have been in greater demand for air conditioning and refrigeration applications. These low-GWP refrigerants increase energy consumption, introduces safety risks, and require significant equipment modifications.
– Manufacturers have already shifted or planning to shift to new lower GWP alternative refrigerants, as they provide better energy performance as current refrigerants, while reducing environmental impact.

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