NEW YORK, March 24, 2023 /PRNewswire/ -- The global automotive refrigerant market size is estimated to increase by 100.02 million Kg from 2022 to 2027. The market's growth momentum will progress at a CAGR of 9.36% during the forecast period. The higher time spent inside vehicles is pushing the demand for cabin comfort features. This, in turn, is fueling the market growth significantly. However, factors like the high costs associated with redesigning automotive HVAC systems may hinder the market growth during the forecast period.

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Automotive refrigerant market – Vendor Analysis
Vendor Landscape - The global automotive refrigerant market is fragmented with the presence of several global as well as regional vendors. A few prominent vendors that offer automotive refrigerants in the market are AGC Inc., Air International Thermal Systems, Arkema Group, Daikin Industries Ltd., Deepfreeze Refrigerants Inc., DENSO Corp., Dongyue Group Ltd., DuPont de Nemours Inc., Hanon Systems, HELLA GmbH and Co. KGaA, Hitachi Ltd., Honeywell International Inc., Johnson Electric Holdings Ltd, Linde Plc, MAHLE GmbH, National Refrigerants Inc., Sinochem Group Co. Ltd., The Chemours Co., Toyota Industries Corp., and Valeo SA and others.

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Vendor Offerings -

• AGC Inc. - The company offers automotive refrigerants such as AMOLEA 1224yd.
• Arkema Group - The company offers automotive refrigerants such as Forane HFCs.
• Daikin Industries Ltd. - The company offers automotive refrigerants such as fluorine refrigerants.
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Automotive Refrigerant Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on vehicle type (passenger car and commercial vehicle), type (r134a, r1234yf, and others), and geography (Europe, APAC, North America, South America, and Middle East and Africa).

• The market share growth by the passenger car segment will be significant for the market growth during the forecast period. With rising demand for sedans, coupes, hatchbacks, crossovers, and SUVs, the global passenger car market is growing significantly. Rising disposable income and various convenient and attractive vehicle loan schemes launched by financial institutions and automobile manufacturers increase the demand for vehicles, fueling the growth of the global automotive refrigerant market.

Geography Overview
By geography, the global automotive refrigerant market is segmented into Europe, APAC, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive refrigerant market.

• Europe is estimated to contribute 33% to the growth of the global automotive refrigerant market during the forecast period. Europe accounts for the highest penetration of automotive HVAC systems, in both passenger cars and commercial vehicles segments. Commercial vehicle manufacturers like Volvo AB (Volvo), Scania AB (Scania), and MAN Truck and Bus AG (MAN Truck and Bus) offer HVAC systems in all their vehicle models. The extreme weather conditions in Europe support the penetration of HVAC systems across all vehicle segments in the region. Hence, the growth of the automotive refrigerant market in Europe highly depends on the growth of the regional automotive market. 

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Automotive Refrigerant Market – Market Dynamics

Leading Drivers - 

A key factor fueling the global automotive refrigerant market growth is the higher time spent inside vehicles which is pushing demand for cabin comfort features. The extended time spent inside vehicles can be attributed to factors like long-distance travel and rising traffic congestion. These days, automotive HVAC systems are standard fitments in passenger cars, while commercial vehicles are also increasingly using them. There is a rapid adoption of HVAC systems in developing countries like India, where overall climatic conditions are hot. Thus, countries with hot climatic conditions are expected to contribute the most to the revenue of the automotive refrigerant market during the forecast period.

Key Trends - 

The rising preference for R-1234yf refrigerant is one of the key automotive refrigerant market trends that is expected to positively impact the industry in the forecast period. The R-134a refrigerant is widely used in the global automotive refrigerant market. But developed regions are shifting toward the R-1234yf refrigerant due to its lower GWP. Refrigerants with more than 150 GWP are banned, making R-1234yf the ideal refrigerant for widescale adoption in Europe. The rising adoption of R-1234yf can be attributed to factors such as the Greenhouse Gas Emissions and Corporate Average Fuel Economy Standards program for light-duty vehicles (US EPA, 2012). More countries are expected to join the bandwagon and switch over to the R-1234yf refrigerant, which is expected to fuel the growth of the global automotive refrigerant market.

Major challenges - 

The high cost associated with redesigning automotive HVAC systems is a key challenge to the global automotive refrigerant market growth. HVAC systems are manufactured with increased features and functionalities like quicker heating and cooling processes to cater to the need for reduced humidity, better ventilation, and controlled temperature. The effective installation of these air conditioners also involves various alterations in the entire wiring system of automobiles. Moreover, the cost associated with such installations, coupled with the cost of the product itself, which is very high, dissuades increased investments in automotive HVAC systems. Hence, the high costs are expected to hinder market growth during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Automotive Refrigerant Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive refrigerant market between 2023 and 2027
• Precise estimation of the size of the automotive refrigerant market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive refrigerant market across Europe, APAC, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive refrigerant market vendors

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Table of Contents  

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (million kg)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (million kg)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive refrigerant market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global automotive refrigerant market 2017 - 2021 (million kg)

• 4.2 Vehicle type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Vehicle type Segment 2017 - 2021 (million kg)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 (million kg)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (million kg)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (million kg)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Vehicle Type

• 6.1 Market segments
• Exhibit 30: Chart on Vehicle Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Vehicle Type - Market share 2022-2027 (%)

• 6.2 Comparison by Vehicle Type 
• Exhibit 32: Chart on Comparison by Vehicle Type
• Exhibit 33: Data Table on Comparison by Vehicle Type

• 6.3 Passenger car - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Passenger car - Market size and forecast 2022-2027 (million kg)
• Exhibit 35: Data Table on Passenger car - Market size and forecast 2022-2027 (million kg)
• Exhibit 36: Chart on Passenger car - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Passenger car - Year-over-year growth 2022-2027 (%)

• 6.4 Commercial vehicle - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Commercial vehicle - Market size and forecast 2022-2027 (million kg)
• Exhibit 39: Data Table on Commercial vehicle - Market size and forecast 2022-2027 (million kg)
• Exhibit 40: Chart on Commercial vehicle - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Commercial vehicle - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Vehicle Type 
• Exhibit 42: Market opportunity by Vehicle Type (million kg)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 R134a - Market size and forecast 2022-2027 
• Exhibit 47: Chart on R134a - Market size and forecast 2022-2027 (million kg)
• Exhibit 48: Data Table on R134a - Market size and forecast 2022-2027 (million kg)
• Exhibit 49: Chart on R134a - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on R134a - Year-over-year growth 2022-2027 (%)

• 7.4 R1234yf - Market size and forecast 2022-2027 
• Exhibit 51: Chart on R1234yf - Market size and forecast 2022-2027 (million kg)
• Exhibit 52: Data Table on R1234yf - Market size and forecast 2022-2027 (million kg)
• Exhibit 53: Chart on R1234yf - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on R1234yf - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Others - Market size and forecast 2022-2027 (million kg)
• Exhibit 56: Data Table on Others - Market size and forecast 2022-2027 (million kg)
• Exhibit 57: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 59: Market opportunity by Type (million kg)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 (million kg)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 (million kg)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 (million kg)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 (million kg)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 (million kg)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 (million kg)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 (million kg)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 (million kg)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 (million kg)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (million kg)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 (million kg)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 (million kg)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 (million kg)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 (million kg)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 (million kg)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 (million kg)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 (million kg)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 (million kg)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 (million kg)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 (million kg)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography (million kg)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 AGC Inc.
• Exhibit 112: AGC Inc. - Overview
• Exhibit 113: AGC Inc. - Business segments
• Exhibit 114: AGC Inc. - Key offerings
• Exhibit 115: AGC Inc. - Segment focus

• 12.4 Arkema Group
• Exhibit 116: Arkema Group - Overview
• Exhibit 117: Arkema Group - Business segments
• Exhibit 118: Arkema Group - Key news
• Exhibit 119: Arkema Group - Key offerings
• Exhibit 120: Arkema Group - Segment focus

• 12.5 Daikin Industries Ltd. 
• Exhibit 121: Daikin Industries Ltd. - Overview
• Exhibit 122: Daikin Industries Ltd. - Business segments
• Exhibit 123: Daikin Industries Ltd. - Key news
• Exhibit 124: Daikin Industries Ltd. - Key offerings
• Exhibit 125: Daikin Industries Ltd. - Segment focus

• 12.6 Deepfreeze Refrigerants Inc. 
• Exhibit 126: Deepfreeze Refrigerants Inc. - Overview
• Exhibit 127: Deepfreeze Refrigerants Inc. - Product / Service
• Exhibit 128: Deepfreeze Refrigerants Inc. - Key offerings

• 12.7 DENSO Corp.
• Exhibit 129: DENSO Corp. - Overview
• Exhibit 130: DENSO Corp. - Business segments
• Exhibit 131: DENSO Corp. - Key news
• Exhibit 132: DENSO Corp. - Key offerings
• Exhibit 133: DENSO Corp. - Segment focus

• 12.8 Dongyue Group Ltd.
• Exhibit 134: Dongyue Group Ltd. - Overview
• Exhibit 135: Dongyue Group Ltd. - Business segments
• Exhibit 136: Dongyue Group Ltd. - Key offerings
• Exhibit 137: Dongyue Group Ltd. - Segment focus

• 12.9 DuPont de Nemours Inc. 
• Exhibit 138: DuPont de Nemours Inc. - Overview
• Exhibit 139: DuPont de Nemours Inc. - Business segments
• Exhibit 140: DuPont de Nemours Inc. - Key news
• Exhibit 141: DuPont de Nemours Inc. - Key offerings
• Exhibit 142: DuPont de Nemours Inc. - Segment focus

• 12.10 Hanon Systems
• Exhibit 143: Hanon Systems - Overview
• Exhibit 144: Hanon Systems - Business segments
• Exhibit 145: Hanon Systems - Key offerings
• Exhibit 146: Hanon Systems - Segment focus

• 12.11 HELLA GmbH and Co. KGaA 
• Exhibit 147: HELLA GmbH and Co. KGaA - Overview
• Exhibit 148: HELLA GmbH and Co. KGaA - Business segments
• Exhibit 149: HELLA GmbH and Co. KGaA - Key news
• Exhibit 150: HELLA GmbH and Co. KGaA - Key offerings
• Exhibit 151: HELLA GmbH and Co. KGaA - Segment focus

• 12.12 Hitachi Ltd.
• Exhibit 152: Hitachi Ltd. - Overview
• Exhibit 153: Hitachi Ltd. - Business segments
• Exhibit 154: Hitachi Ltd. - Key news
• Exhibit 155: Hitachi Ltd. - Key offerings
• Exhibit 156: Hitachi Ltd. - Segment focus

• 12.13 Honeywell International Inc. 
• Exhibit 157: Honeywell International Inc. - Overview
• Exhibit 158: Honeywell International Inc. - Business segments
• Exhibit 159: Honeywell International Inc. - Key news
• Exhibit 160: Honeywell International Inc. - Key offerings
• Exhibit 161: Honeywell International Inc. - Segment focus

• 12.14 Linde Plc
• Exhibit 162: Linde Plc - Overview
• Exhibit 163: Linde Plc - Business segments
• Exhibit 164: Linde Plc - Key news
• Exhibit 165: Linde Plc - Key offerings
• Exhibit 166: Linde Plc - Segment focus

• 12.15 MAHLE GmbH
• Exhibit 167: MAHLE GmbH - Overview
• Exhibit 168: MAHLE GmbH - Business segments
• Exhibit 169: MAHLE GmbH - Key news
• Exhibit 170: MAHLE GmbH - Key offerings
• Exhibit 171: MAHLE GmbH - Segment focus

• 12.16 National Refrigerants Inc. 
• Exhibit 172: National Refrigerants Inc. - Overview
• Exhibit 173: National Refrigerants Inc. - Product / Service
• Exhibit 174: National Refrigerants Inc. - Key offerings

• 12.17 Sinochem Group Co. Ltd. 
• Exhibit 175: Sinochem Group Co. Ltd. - Overview
• Exhibit 176: Sinochem Group Co. Ltd. - Business segments
• Exhibit 177: Sinochem Group Co. Ltd. - Key offerings
• Exhibit 178: Sinochem Group Co. Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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