Europe Hydrocarbon Refrigerants Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Europe Hydrocarbon Refrigerants Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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 (HCs) are called natural refrigerants as the chemicals used in the manufacturing of these refrigerants are derived from the natural bio-chemical processes. These refrigerants have very low impact on the environment in terms of ozone depletion and global warming.

Europe has made stringent rules and regulations restricting the use of HFC and HCFC refrigerants which is turn is expected to increase the demand for natural refrigerants in the region. The governments of various countries in the region are taking various initiatives to limit the amount of fluorinated gases that are being sold in Europe and are banning the use of these gases in some new types of equipments as well. Moreover, hydrocarbon refrigerants are extensively being used in domestic refrigeration systems, commercial refrigeration systems, mobile air conditioners, stationary air conditioners, etc. With the changing lifestyles, food habits and increasing demand of time and energy saving appliances, the demand of hydrocarbon refrigerants has also increased in recent years in the European region. Apart from being environment-friendly, HCs are quite east to implement, require minimal investment during conversion and have a superior COP (coefficient of performance). Since cooling accounts for more than half of the energy consumption of any building, switching to hydrocarbon refrigerants can result in significant cost saving as well. In addition to this, hydrocarbon refrigerants can be purchased at cheaper prices, have a low GWP & GHG rating (Global Warming Potential and Greenhouse Gas emissions) and offer superior energy efficiency as compared to their alternatives.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Europe hydrocarbon refrigerants market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

R290 Propane
R600a Isobutane
R1270 Propylene
Others

Amongst these, (R290) propane 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 Country:

Germany
United Kingdom
France
Others

Germany currently represents the largest market for hydrocarbon refrigerants in Europe.

Competitive Landscape:
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it difficult for small players to survive without any acquisition. Some of the leading players operating in the market are:

Linde gas
A-Gas
SRS Frigadon
Nidec Secop
Beijer REF
Eurammon
True mfg

Key Questions Answered in This Report:
How has the Europe hydrocarbon refrigerants market performed so far and how will it perform in the coming years?
What are the key regional markets in the Europe hydrocarbon refrigerants industry?
What has been the impact of COVID-19 on the Europe hydrocarbon refrigerants industry?
What are the major types in the Europe hydrocarbon refrigerants industry?
What are the major application segments in the Europe hydrocarbon refrigerants industry?
What are the various stages in the value chain of the Europe hydrocarbon refrigerants industry?
What are the key driving factors and challenges in the Europe hydrocarbon refrigerants industry?
What is the structure of the Europe hydrocarbon refrigerants industry and who are the key players?
What is the degree of competition in the Europe hydrocarbon refrigerants industry?