The Industrial Refrigerants Market Size Is Expected To Grow At A Rate Of More Than 7% And Reach A Value Of $34.2 Billion By 2027 - By The Business Research Company
LONDON, Sept. 25, 2023 /PRNewswire/ -- As per The Business Research Company's Refrigerants Global Market Report 2023, the global refrigerants market has experienced significant expansion, reflecting a growing emphasis on sustainability and climate considerations. According to recent market research, the global refrigerants market size exhibited robust growth, surging from $22.93 billion in 2022 to $25.34 billion in 2023, boasting a commendable compound annual growth rate (CAGR) of 10.5%. Furthermore, the refrigerants market is poised to continue its upward trajectory, with expectations of reaching $34.23 billion in 2027, reflecting a CAGR of 7.8%.
- According to recent market research, the global refrigerants market size exhibited robust growth, surging from $22.93 billion in 2022 to $25.34 billion in 2023, boasting a commendable compound annual growth rate (CAGR) of 10.5%.
- Furthermore, the refrigerants market is poised to continue its upward trajectory, with expectations of reaching $34.23 billion in 2027, reflecting a CAGR of 7.8%.
- Rising Global Temperatures: Escalating global temperatures are driving the need for efficient and effective cooling systems, contributing to the growth of the refrigerants market.
- Asia-Pacific emerged as the largest region in the refrigerants market , with a market worth $9,425.6 million in 2022.