Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Guidehouse Insights Report Forecasts a 16% Compound Annual Growth Rate through 2030 for the Global HVAC Market Using Low Global Warming Potential Refrigerants

Market barriers include lack of comprehensive regulations, safety issues, and new refrigerant verification challenges

A new report from Guidehouse Insights analyzes the global HVAC market and plans to phase out high global warming potential (GWP) refrigerants, with global market forecasts extending through 2030.

SysAdmin Appreciation Day: Top Industry Leaders Share their Insights on IT and Data Ops

The HVAC industry has been transforming toward sustainability. Recent international efforts and government regulations for phasing out existing high GWP refrigerants have spurred demand for alternative refrigerants with low GWP. According to a new report from Guidehouse Insights, the global HVAC market using low GWP refrigerants is anticipated to be $34.1 billion in 2021, experiencing a compound annual growth rate (CAGR) of 16.2% from 2021 to 2030.

Related Posts
1 of 20,072

Recommended AI News: Salesforce’s Mulesoft Steps-up RPA Game with Intent to Acquire Servicetrace

“Countries are starting to implement policies and regulations to phase out high GWP refrigerants in HVAC, but not all countries have a specific policy supporting low GWP refrigerants yet,” says Young Hoon Kim, research analyst with Guidehouse Insights. “Nevertheless, regulation and policy are expected to transform the HVAC market from high GWP refrigerant applications to low GWP refrigerant applications, creating substantial new market opportunities.”

Although the demand for low GWP refrigerant applications in HVAC has increased drastically over the years, the market faces barriers such as lack of comprehensive regulations, safety issues, and new refrigerant verification challenges. Despite the long history of the HVAC industry, new refrigerants will likely require transforming the entire industry through developing compatible core components, optimizing HVAC systems, and transforming the refrigerant life cycle (supply, disposal, etc.) with the alternative refrigerants with low GWP. This industry transformation is a lengthy process, but will eventually lead to new market opportunities and reduce the carbon footprint.

Recommended AI News: Tuya Smart Releases An All-In Bluetooth Development Capability

The report, Low Global Warming Potential Refrigerants in HVAC, analyzes the global HVAC market including international treaties and national regulations for phasing out high GWP refrigerants, current technology trends including new refrigerant development, and industry trends. Global market forecasts, broken down by segment and region, extend through 2030. The report also examines the key technologies related to applying new refrigerants with low GWP in HVAC. An executive summary of the report is available for free download on the Guidehouse Insights website.

Recommended AI News: Salesforce’s Mulesoft Steps-up RPA Game with Intent to Acquire Servicetrace

Comments are closed.