London, 24 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global refrigerant market 2015-2019, which is expected to grow at a CAGR of 7.21% during the forecast period of 2014-2019.
Increased demand from the end-user segments is one of the major factors driving the market. There has been a rise in the construction activities across the globe coupled with an increase in the disposable income of consumers, particularly in APAC and MEA, which are expected to drive the global refrigerant market.
“The upgradation in the existing commercial and industrial refrigeration systems will be taking place to meet the ever-increasing demand from the consumers and the industries,” says Faisal Ghaus, Vice President of Technavio.
“With the upgrades in the refrigeration systems, the global refrigerant market will have a shift in the existing usage pattern and a rise in the efficiency with which the systems will be functioning, leading to a reduction in leakages and spillages in and around the installed spaces.”
Key Market Drivers
- Enhanced Awareness about Need for Food Storage
- Rise in Demand from Developing Countries
- Construction Sector Growth
- Global Warming
Key Market Trends
- Advanced Commercial and Industrial Refrigeration Systems
- Rise in Usage of Eco-friendly Refrigerants
- Need for Cold Storage Systems in Developing Countries
- Technologically Innovative Refrigerants
Key Market Vendors
- Airgas
- Arkema
- Daikin Industries
- DuPont
- Honeywell International
- Linde
- Mexichem
- Solvay
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
