According to a recently published report by Research Nester on “Green Cooling Technology Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the green cooling technology market in terms of market segmentation by type, by end-use and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Based on type into unitary air conditioning (UAC), mobile air conditioning (MAC) & chillers; by end use into residential, commercial & industrial. The green cooling technology market is anticipated to record a significant CAGR over the forecast period i.e. 2019-2027.
The increasing awareness for pollution created by the CFC liberated from air conditioners are expected to boost the market demand for green cooling technologies during the forecast period. Roughly, U.S. releases 117 million metric tons of carbon dioxide into the air every year. Additionally, government initiatives and policies has regulated the emissions and appreciated the growth of green cooling technologies in commercial and industrial sectors.
Based on region, green cooling technology market is anticipated to witness dominating growth in North America on the back of government regulations for protecting environment from GHG. As per 2006, EPA and the Air-Conditioning and Refrigeration Institute, had joined hands to diminish the annual application of HCFCs and HFCs in manufacturing process of more than 8 million residential and commercial air conditioner and refrigeration systems. Additionally, strategies adopted in Europe to prevent climatic changes has encouraged the adoption of green cooling technologies. Moreover, the rising economies of Asia Pacific such as India and China have growing consumer base for requirements of cooling technologies owing to prevalence of tropical climatic conditions, is projected to grow the demand for green cooling technologies during the forecast period.
Reducing Global Warming
Adoption of green cooling technologies has increased in past few years on the account of changing climatic conditions and rising temperature around the globe due to global warming, is anticipated to foster the market growth. According to US Department of Energy, globally, the stationary air conditioners releases for about 700 million metric tons of CO2 equivalent emissions which is contributing highly towards global warming. Thus, these environmental factors are penetrating the market demand for green cooling technologies for the cooling systems in commercial and residential areas.
However, high cost and limited access of green cooling technologies in several countries across the globe is a key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Green Cooling Technology market which includes company profiling of Superior Silica Sands LLC, Hi-Crush Partners LP, Fairmount Santrol Holdings Inc., Minerao Curimbaba Ltd., Fores Ltd., JSC Borovichi Refractories Plant, S. Silica Holdings Inc., Saint-Gobain Green Cooling Technology Inc., Carbo Ceramics Inc., Badger Mining Corporation and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the green cooling technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.