Automotive Refrigerant: Introduction
- Automotive refrigerant is used in the air conditioning system of the vehicle. Various types of refrigerants that are utilized in vehicle air conditioning systems, such as hydroflurocarbon, isobutene, and propene; however, these are being replaced due to their harmful effects on the environment.
- According to the Society of Automotive Engineers (SAE), heavy fuel oil -1234yf offers higher environmental performance for mobile air conditioning systems and hence, it may be developed as an alternative refrigerant. Majority of vehicle manufacturers still employ R-134 refrigerant, which contains harmful gases; consequently, most countries have banned the use of R-134 refrigerant and are likely to adopt heavy fuel oil-1234yf.
Key Drivers of Global Automotive Refrigerant Market
- Increase in use of air conditioning in vehicles across the globe is estimated to boost the automotive refrigerant market. Enactment of several stringent regulations enacted by governments across the globe, regarding vehicle emission norms, is projected to drive the automotive refrigerant market across the globe. Increase in environmental concerns across the globe is estimated to further fuel the demand for nontoxic refrigerants, which in turn is likely to boost the automotive refrigerant market across the globe.
- Most vehicle manufacturers are trying to increase the use of natural refrigerants, as synthetic refrigerants damage the environment. This is anticipated to propel the demand for natural refrigerants across the globe. Stringent rules and regulations have been enacted by governments across the globe in order to reduce the depletion of ozone. In 2018, Australia reduced the consumption of hydroflurocarbon by 20% and additionally, hydroflurocarbon refrigerants were banned in Europe and the U.S. These regulations across the globe are expected to drive the use of less harmful refrigerants.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Europe and Asia Pacific to hold prominent share of automotive refrigerant market
- Europe is projected to account for a significant share of the global automotive refrigerant market due to the high presence of automotive industries and enactment of stringent rules regarding emissions in the region. Europe has presence of major original equipment manufacturers as well as Tier-1 suppliers, including Arkema S.A. and Air Liquide, have major Research and development facilities on refrigeration, this is likely to propel the automotive refrigerant market in Europe.
- Followed by Europe, Asia Pacific is projected to hold a major share of the global automotive refrigerant market due to an increase in vehicle production and sale in the region. Countries across Asia Pacific, including India and South Korea, has high temperature areas which is estimated to fuel the demand for better air-conditioning system in vehicles. This, in turn, is projected to further boost the automotive refrigerant market in Asia Pacific.
Key Players Operating in Global Automotive Refrigerant Market
The global automotive refrigerant market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive refrigerant market are:
- Arkema SA
- Dongyue Group Co Ltd
- Honeywell International Inc.
- The Chemours Company
- The Linde Group
- Air Liquide
- Sinochem Lantian Co. Ltd
- AGC Inc.
- Daikin Industries
- Keihin Corporation
For Right Perspective & Competitive Insights on Automotive Refrigerant Market, Request for a Sample
Global Automotive Refrigerant Market: Research Scope
Global Automotive Refrigerant Market, by Vehicle Type
- Passenger Vehicle
- Commercial vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive Refrigerant Market, by Refrigerant Type
- Hydrochlorofluro Carbon(HCFC)
- Hydrofluro Carbon(HFC)
- Heavy Fuel Oil
- Other(e.g. Ammonia, Carbon Dioxide)
Global Automotive Refrigerant Market, by Electric Vehicle Type
- Battery Electric Vehicle
- Plug-in Hybrid Vehicle
- Hybrid Electric Vehicle
Global Automotive Refrigerant Market, by Sales Channel
Global Automotive Refrigerant Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis