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Automotive Refrigerant Market by Vehicle Type and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 141
  • SKU: IRTNTR73417
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The automotive refrigerant market share is expected to surge by 486.36 thousand units by 2026 at a progressive CAGR of 5.57%.

The automotive refrigerant market report extensively covers market segmentation by vehicle type (passenger car and commercial vehicle) and geography (Europe, APAC, North America, South America, and Middle East and Africa).

The automotive refrigerant market report also offers information on several key players that include AGC Inc., Arkema Group, Daikin Industries Ltd., DENSO Corp., Dongyue Group Ltd., DuPont de Nemours Inc., Duracool Refrigerants Inc., Hanon Systems, Hitachi Ltd., Honeywell International Inc., Linde Plc, MAHLE GmbH, National Refrigerants Inc., Orbia Advance Corp. SAB de CV, Sinochem Group Co. Ltd., and The Chemours Co. among others. This report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches

What will the Automotive Refrigerant Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Automotive Refrigerant Market Size for the Forecast Period and Other Important Statistics

 

Automotive Refrigerant Market: Key Drivers, Trends, and Challenges

The higher time-spend inside vehicles pushing demand for cabin comfort features is notably driving the automotive refrigerant market growth, although factors such as high cost associated with redesigning automotive HVAC systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive refrigerant industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Refrigerant Market Driver

  • One of the key factors driving the global automotive refrigerant market growth is the higher time-spend inside vehicles pushing demand for cabin comfort features.
  • Automotive HVAC systems are being adopted at a rapid pace in developing countries such as India, where overall climatic conditions are hot.
  • The increase in time spent inside vehicles is further driven by long-distance travel and rising traffic congestion.
  • In the US, most people take long-distance trips in their personal vehicles, which triggers high demand for advanced climate control systems.
  • The rise in the use of HVAC systems will boost the demand for refrigerants in the automotive market.
  • The rise in traffic congestion in metros will increase the need for convenience features for greater comfort and lower stress levels. Such factors will drive market growth in the coming years.

Key Automotive Refrigerant Market Trend

  • Growing preference for R-1234yf refrigerant is one of the key automotive refrigerant market trends that is expected to impact the industry positively in the forecast period.
  • The developed regions such as the EU are shifting toward the R-1234yf refrigerant for its lower GWP.
    • In the US, about 50% of new vehicles have adopted the R-1234yf refrigerant.
  • The growing adoption of R-1234yf is attributed to the Greenhouse Gas Emissions and Corporate Average Fuel Economy Standards program for light-duty vehicles.
  • Other countries such as Japan and Australia are also switching over to R-1234yf amid a growing trend in adopting low-GWP refrigerants.
  • Japan has the presence of the prominent R-1234yf supplier, Honeywell International, while the Australian government announced the phase-down of R-134a imports in January 2018.
  • Such factors will further support the market growth in the forecast years.

Key Automotive Refrigerant Market Challenge

  • One of the key challenges to the global automotive refrigerant market growth is the high cost associated with redesigning automotive HVAC systems.
  • The effective installation of these air conditioners also involves several alterations in the entire wiring system of automobiles.
  • The cost associated with such installations is very high, which dissuades increased investments in automotive HVAC systems. For instance, the cost of an AC compressor replacement is pegged above USD 500.
  • The shift from R-134a to low-GWP R-1234yf refrigerants also requires some changes in the HVAC system. For instance;
    • The European legislation directive phasing out the R-134a refrigerant. The shift to an alternative refrigerant, R-1234yf or R744, will require a considerable degree of re-engineering, designing, and additional material costs.
  • Such factors may hamper the market growth in the coming years.

This automotive refrigerant market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive refrigerant market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive refrigerant market during the forecast period.

Who are the Major Automotive Refrigerant Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AGC Inc.
  • Arkema Group
  • Daikin Industries Ltd.
  • DENSO Corp.
  • Dongyue Group Ltd.
  • DuPont de Nemours Inc.
  • Duracool Refrigerants Inc.
  • Hanon Systems
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Linde Plc
  • MAHLE GmbH
  • National Refrigerants Inc.
  • Orbia Advance Corp. SAB de CV
  • Sinochem Group Co. Ltd.
  • The Chemours Co.

 

This statistical study of the automotive refrigerant market encompasses successful business strategies deployed by the key vendors. The automotive refrigerant market is fragmented and the vendors are deploying growth strategies such as distribution and marketing to compete in the market.

Product Insights and News

  • AGC Inc. - The company offers an HFC type of refrigerant named Asahiklin AK 134a with a high level of stability, primarily used in applications such as automobile air conditioners and centrifugal refrigerators.
  • AGC Inc. -  Through the glass segment, the company offers architectural and automotive glasses for respective industries.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive refrigerant market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Refrigerant Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive refrigerant market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Automotive Refrigerant Market?

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38% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive refrigerants in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing penetration rate of HVAC systems in commercial and passenger vehicles will facilitate the automotive refrigerant market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, industrial activities in this region were severely affected due to COVID-19-related concerns. Stringent lockdowns and social distancing regulations compelled many business owners to shut down their facilities temporarily. However, as the automotive supply chains regained their strength in 2021, the recovery of these industrial sectors in APAC will pick up the pace. Capital spending is expected to grow, which will drive the demand for commercial vehicles. This will positively impact the regional market in focus during the forecast period.

What are the Revenue-generating Vehicle Type Segments in the Automotive Refrigerant Market?

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The automotive refrigerant market share growth by the passenger cars segment will be significant during the forecast period. The high adoption of passenger cars, along with the rising demand for cabin comfort in vehicles, is leading to a surge in the consumption of refrigerants. The passenger car segment in the global automotive refrigerant market is also driven by government regulations that assess the GW P of refrigerants.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive refrigerant market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Refrigerant Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.57%

Market growth 2022-2026

486.36 th units

Market structure

Fragmented

YoY growth (%)

5.42

Regional analysis

Europe, APAC, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 38%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AGC Inc., Arkema Group, Daikin Industries Ltd., DENSO Corp., Dongyue Group Ltd., DuPont de Nemours Inc., Duracool Refrigerants Inc., Hanon Systems, Hitachi Ltd., Honeywell International Inc., Linde Plc, MAHLE GmbH, National Refrigerants Inc., Orbia Advance Corp. SAB de CV, Sinochem Group Co. Ltd., and The Chemours Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Automotive Refrigerant Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive automotive refrigerant market growth during the next five years
  • Precise estimation of the automotive refrigerant market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive refrigerant industry across Europe, APAC, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive refrigerant market vendors

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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 Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Vehicle Type

  • 5.1 Market segments
    • Exhibit 24: Chart on Vehicle Type - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Vehicle Type - Market share 2021-2026 (%)
  • 5.2 Comparison by Vehicle Type
    • Exhibit 26: Chart on Comparison by Vehicle Type
    • Exhibit 27: Data Table on Comparison by Vehicle Type
  • 5.3 Passenger car - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Passenger car - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 29: Data Table on Passenger car - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 30: Chart on Passenger car - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Passenger car - Year-over-year growth 2021-2026 (%)
  • 5.4 Commercial vehicle - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Commercial vehicle - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 33: Data Table on Commercial vehicle - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 34: Chart on Commercial vehicle - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Commercial vehicle - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Vehicle Type
    • Exhibit 36: Market opportunity by Vehicle Type (thousand units)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 Europe - Market size and forecast 2021-2026
    • Exhibit 42: Chart on Europe - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 43: Data Table on Europe - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 44: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.4 APAC - Market size and forecast 2021-2026
    • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.5 North America - Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 China - Market size and forecast 2021-2026
    • Exhibit 62: Chart on China - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.9 US - Market size and forecast 2021-2026
    • Exhibit 66: Chart on US - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.10 Germany - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.11 UK - Market size and forecast 2021-2026
    • Exhibit 74: Chart on UK - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.12 Japan - Market size and forecast 2021-2026
    • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 (thousand units)
    • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography (thousand units)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 AGC Inc.
    • Exhibit 89: AGC Inc. - Overview
    • Exhibit 90: AGC Inc. - Business segments
    • Exhibit 91: AGC Inc. - Key news
    • Exhibit 92: AGC Inc. - Key offerings
    • Exhibit 93: AGC Inc. - Segment focus
  • 10.4 Arkema Group
    • Exhibit 94: Arkema Group - Overview
    • Exhibit 95: Arkema Group - Business segments
    • Exhibit 96: Arkema Group - Key news
    • Exhibit 97: Arkema Group - Key offerings
    • Exhibit 98: Arkema Group - Segment focus
  • 10.5 Daikin Industries Ltd.
    • Exhibit 99: Daikin Industries Ltd. - Overview
    • Exhibit 100: Daikin Industries Ltd. - Business segments
    • Exhibit 101: Daikin Industries Ltd. - Key offerings
    • Exhibit 102: Daikin Industries Ltd. - Segment focus
  • 10.6 Dongyue Group Ltd.
    • Exhibit 103: Dongyue Group Ltd. - Overview
    • Exhibit 104: Dongyue Group Ltd. - Business segments
    • Exhibit 105: Dongyue Group Ltd. - Key offerings
    • Exhibit 106: Dongyue Group Ltd. - Segment focus
  • 10.7 DuPont de Nemours Inc.
    • Exhibit 107: DuPont de Nemours Inc. - Overview
    • Exhibit 108: DuPont de Nemours Inc. - Business segments
    • Exhibit 109: DuPont de Nemours Inc. - Key offerings
    • Exhibit 110: DuPont de Nemours Inc. - Segment focus
  • 10.8 Duracool Refrigerants Inc.
    • Exhibit 111: Duracool Refrigerants Inc. - Overview
    • Exhibit 112: Duracool Refrigerants Inc. - Product / Service
    • Exhibit 113: Duracool Refrigerants Inc. - Key offerings
  • 10.9 Honeywell International Inc.
    • Exhibit 114: Honeywell International Inc. - Overview
    • Exhibit 115: Honeywell International Inc. - Business segments
    • Exhibit 116: Honeywell International Inc. - Key news
    • Exhibit 117: Honeywell International Inc. - Key offerings
    • Exhibit 118: Honeywell International Inc. - Segment focus
  • 10.10 Linde Plc
    • Exhibit 119: Linde Plc - Overview
    • Exhibit 120: Linde Plc - Business segments
    • Exhibit 121: Linde Plc - Key offerings
    • Exhibit 122: Linde Plc - Segment focus
  • 10.11 National Refrigerants Inc.
    • Exhibit 123: National Refrigerants Inc. - Overview
    • Exhibit 124: National Refrigerants Inc. - Product / Service
    • Exhibit 125: National Refrigerants Inc. - Key offerings
  • 10.12 Orbia Advance Corp. SAB de CV
    • Exhibit 126: Orbia Advance Corp. SAB de CV - Overview
    • Exhibit 127: Orbia Advance Corp. SAB de CV - Business segments
    • Exhibit 128: Orbia Advance Corp. SAB de CV - Key offerings
    • Exhibit 129: Orbia Advance Corp. SAB de CV - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 130: Inclusions checklist
    • Exhibit 131: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 132: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 133: Research methodology
    • Exhibit 134: Validation techniques employed for market sizing
    • Exhibit 135: Information sources
  • 11.5 List of abbreviations
    • Exhibit 136: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The automotive refrigerant market growth will increase by $486.36 thousand units during 2022-2026.
The automotive refrigerant market is expected to grow at a CAGR of 5.57% during 2022-2026.
Technavio has segmented the automotive refrigerant market by vehicle type (Passenger car and Commercial vehicle) and geographic (Europe, APAC, North America, South America, and Middle East and Africa).
AGC Inc., Arkema Group, Daikin Industries Ltd., DENSO Corp., Dongyue Group Ltd., DuPont de Nemours Inc., Duracool Refrigerants Inc., Hanon Systems, Hitachi Ltd., Honeywell International Inc., Linde Plc, MAHLE GmbH, National Refrigerants Inc., Orbia Advance Corp. SAB de CV, Sinochem Group Co. Ltd., The Chemours Co. are a few of the key vendors in the automotive refrigerant market.
APAC will register the highest growth rate of 38.02% among the other regions. Therefore, the automotive refrigerant market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the automotive refrigerant market growth are:
  • Higher time-spend inside vehicles pushing demand for cabin comfort features
  • Growing preference for R-1234yf refrigerant
The automotive refrigerant market vendors should focus on grabbing business opportunities from the passenger car segment as it accounted for the largest market share in the base year.
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