Future Market Insights
The thriving population and increasing energy consumption is initiating a strong demand for technologies methods, and equipment aiding in the reduction of greenhouse gas emission and are helping to save significant amount of energy. One of the prime sectors contributing heavily to greenhouse emission is refrigeration and air conditioning, which is responsible for more than more than 14 percent of the total greenhouse gas emissions. Emissions are of two types: Direct emissions which occur due to release of refrigerant because of leaks from components or pipes and the indirect emissions which occur due to energy consumption and therefore depends upon source of electricity and amount of carbon dioxide emitted during its generation. Therefore in order to reduce the detrimental effect of the gas emitted due to refrigeration and conditioning, one must either utilize natural refrigerant or deploy green cooling technologies to help reduce the carbon footprint and protect the environment. Recent development in green cooling technologies include the commercial development of magnetic refrigerants cooling systems which doesn’t employ any kind of refrigerant, but uses magneto caloric effect to magnetic refrigeration to be an effective and alternate refrigeration solution.
Global Green Cooling Technologies Market: Dynamics
The phasing out of harmful greenhouse gases such as chlorofluorocarbons, hydro fluorocarbons, and halogens are accelerating the adoption of green cooling technologies. Initiatives and Regulation such as the Technology Mechanism of the UN Framework Conventional on Climate Change (UNFCCC) which target the transfer of green cooling technologies across all sector sectors and countries to allow the deployment of least climate harming technologies. Increasing acceptance and adoption of such guidelines in the automotive and heating, ventilation and Cooling (HVAC) industry is driving the growth for green cooling technologies market. The thriving urban population, developing commercial and industrial ecosystem are the pivotal factors responsible for the high demand for green cooling technologies market. However the unit sales of green cooling technologies are relatively limited owing to high initial cost for its installation is one of the factor restraining the growth of global green cooling technologies market.
Global Green Cooling Technologies Market: Segmentation
Global green cooling technologies market is segmented on the basis of application and end-use.
On the basis of end use the green cooling technologies market can be segmented as
Mobile air conditioning
Air conditioning chillers
Unitary air conditioning
On the basis of application the green cooling technologies market can be segmented as
Global Green Cooling Technologies Market: Regional Outlook
The market can also be segmented on the basis of region as North America, Latin America, Asia Pacific ex Japan, Western Europe, Eastern Europe, Japan, and Middle East and Africa. North America and Western Europe Green cooling technologies market are dominant regions in terms of revenue contribution. The green cooling technologies market in Germany, U.K, France, Italy, Spain and United States are expected to exhibit strong growth projection in terms of both value and volume during the forecast period owing to strict penalties and the presence of stringent regulation. Japan and APEJ are expected to create significant opportunities for green cooling technologies in terms of value contribution post 2018 owing to emerging markets in India and China. Among Key Markets of Middle East and Africa and Latin America green cooling technologies market of Brazil, South Africa are expected to exhibit maximum growth in in the aforementioned regions. The green cooling technologies market in these region is expected to gain significant traction during the latter half of the forecast period owing to relatively slow adoption of green and efficient technologies
Global Green Cooling Technologies Market: Key Players
The global green cooling technologies market is highly segmented with the market in nascent phase. However some of the key players identified in the global green cooling technologies market among other market participants are:
DPAC UK Ltd.
Efficient Energy GmbH
Green Technology Systems
AHT Cooling Systems GmbH
CAREL INDUSTRIES S.p.a.
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