Europe Refrigerant Market to Reach USD 4.66 Billion with an 4.50% CAGR

 

Europe Refrigerant Market Analysis and Size

The increase in demand for consumer appliances across the globe acts as one of the major factors driving the growth of the refrigerant market. The rise in the demand for better maintenance of industrial equipment that requires cold surroundings across various manufacturing units, and the high demand for domestic air conditioning systems, owing to the significant rise in per capita disposable incomes accelerate the market growth.  The rise in the demand for absorption chillers in oil & gas refineries, and continuous advancements in the cold chain sector further influence the market. Additionally, the presence of various compliances, expansion of various end-use industries, and high disposable income positively affect the refrigerant market. Furthermore, the rise in demand for natural refrigerants extends profitable opportunities to the market players in the forecast period.

The Europe refrigerant market was valued at USD 3.28 Billion in 2022 and is expected to reach USD 4.66 Billion by 2030, registering a CAGR of 4.50% during the forecast period of 2023-2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.


Market Definition

Refrigerant refers to a substance that is used for absorbing heat from another required substance. In a refrigerating system, the channel of heat transfer picks up the heat by evaporating at a low temperature and pressure. It provides heat on condensing at a higher temperature and pressure that is done by a fluid which is called a refrigerant.

Europe Refrigerant Market Scope

The Europe refrigerant market is segmented on the basis of type, application, and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.


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