North America Refrigerant Market

The North America refrigerant market is expected to grow from US$ 3,186.72 million in 2021 to US$ 4,873.73 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028.

Refrigeration systems include four fundamental components: compressor, condenser, expansion device, and evaporator. Refrigerant systems play a vital role in various industrial processes. In home appliances, these systems perform a cooling function and maintain the temperature of rooms at the desired value. With the rapid growth of the pharmaceuticals, automotive, and packaged food sectors, the demand for refrigerant systems has increased tremendously. Evolution in the cold-storage industry to preserve frozen products for a longer period to increase their shelf life has fueled the demand for refrigerant systems. Refrigeration systems are widely used in the air conditioning industry, as they absorb the environmental heat and provide cool air once it runs through compressors and evaporators. Automotive air conditioning systems allow the cooling of vehicles’ interior air and provide a cooler environment, and these systems now come as a standard in almost all newly manufactured vehicles.

The increased industrialization in emerging economies has led to the establishment of many data centers. The cooling of these data centers is achieved by passing the airflow through an equipment is allowed in the cooling system to handle heat more effectively, which helps in reducing the heating effect by impacting the demand of refrigerant market. Moreover, a rise in manufacturing scales and a surge in demand for improved maintenance of industrial equipment further boost the demand for refrigerant systems. The boom in international trade of perishable commodities, consumer demand for frozen and chilled food and beverages, and the demand from the life science and pharmaceutical industries are likely to drive the demand for refrigerants in the coming years.

With innovative features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America refrigerant market at a good CAGR during the forecast period.   

North America Refrigerant Market Revenue and Forecast to 2028 (US$ Million)

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North America Refrigerant Strategic Insights

Strategic insights for the North America Refrigerant provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Refrigerant Report Scope

North America Refrigerant Regional Insights

The geographic scope of the North America Refrigerant refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The North America refrigerant market is segmented on the basis of type, application, and country. Based on type, the market is segmented into HCFC, HFC, HFO, isobutane, propane, ammonia, carbon dioxide, and others. The HFC segment dominated the North America refrigerant market in 2020, and the ammonia segment is expected to register the highest CAGR during forecast period. Based on application, the North America refrigerant market is segmented into refrigeration system, chillers, air-conditioning systems, MACs, and others. The refrigeration system segment dominated the market in 2020, and the air-conditioning systems segment is expected to record the highest CAGR during forecast period. Based on country, the North America refrigerant market has been segmented into the US, Canada, and Mexico.         

AGC Inc.; AIR LIQUIDE SA; Airgas Inc.; Arkema; Daikin Industries, Ltd.; Dongyue Group; Honeywell International Inc.; LINDE; Sinochem Group Co. Ltd.; and The Chemours Company are among the leading companies in the North America refrigerant market.