Low GWP Refrigerants Market Study Reports Industry Trends and Forecast to 2028

Global Low GWP Refrigerants Market is expected to hold the highest CAGR of around 11.8% during the forecast period 2019-2027. 

The report study based on size, shares, opportunities, has analysed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Refrigerants have favourable thermodynamics properties that are free from toxicity and flammability. It has also been witnessed that low GWP refrigerants have also helped refrigeration equipment in achieving high levels of energy efficiency. Increasing consciousness about global warming, environmental concern, and mandated regulations to decrease the carbon footprint has led to an increase in the adoption of low GWP refrigerants in the global air conditioning and refrigeration industry, thus boosting the growth of the low GWP refrigerants market. Also, implementation of the regulation, government incentives, and policies has supported the R&D projects to ensure quick and effective development of alternate refrigeration technologies, like low GWP refrigerants driving the low GWP refrigerants market growth. On the other hand, the high capital cost required for manufacturing low GWP refrigerants, flammability, and toxicity issues associated with its production are some of the key factors that may hamper the growth of the low GWP refrigerants market in the future. By the type, the hydrocarbons registered with the largest market share in 2019.