(MENAFN- GlobeNewsWire - Nasdaq) Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Green Cooling Technologies Market - Global Industry Size, Share, Trends, Opportunity & Forecast, 2019-2029F" report has been added to ResearchAndMarkets's offering.
Global Green Cooling Technologies Market was valued at USD 2.08 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 8.19% through 2029 The green cooling technologies market refers to the dynamic and evolving sector focused on environmentally sustainable and energy-efficient solutions for cooling applications. This market encompasses a range of technologies designed to mitigate the environmental impact of traditional cooling systems, addressing concerns related to climate change, ozone depletion, and energy consumption. Key components of the green cooling technologies market include innovative cooling systems, eco-friendly refrigerants, and energy-efficient practices.
The primary objective of the green cooling technologies market is to provide alternatives to conventional cooling methods that often rely on high-energy consumption and environmentally harmful refrigerants. These alternatives prioritize the use of natural refrigerants, advanced cooling technologies, and energy-efficient designs to reduce carbon footprints and promote ecological sustainability. As global awareness of environmental issues intensifies, the green cooling technologies market plays a pivotal role in driving a transition towards more responsible and sustainable cooling practices across various industries, including residential, commercial, and industrial sectors.
Key Market Trends
The global Green Cooling Technologies Market is witnessing a significant trend towards the accelerated adoption of natural refrigerants. This shift is primarily driven by environmental concerns, regulatory pressures, and the need to reduce greenhouse gas emissions. Natural refrigerants such as ammonia, carbon dioxide, and hydrocarbons are gaining traction as viable alternatives to synthetic refrigerants like hydrofluorocarbons (HFCs) and chlorofluorocarbons (CFCs), which have high global warming potential (GWP). The phase-out of these synthetic refrigerants under international agreements like the Montreal Protocol and the Kigali Amendment is further bolstering the demand for green cooling technologies.
key advantages of natural refrigerants is their low environmental impact. Unlike synthetic refrigerants, natural refrigerants have zero ozone depletion potential (ODP) and negligible GWP, making them environmentally friendly alternatives. Moreover, natural refrigerants are energy-efficient and offer better thermodynamic properties, resulting in lower energy consumption and operating costs for cooling systems. As a result, industries such as food and beverage, retail, and cold chain logistics are increasingly transitioning to green cooling technologies to meet sustainability goals and regulatory requirements.
Technological advancements and innovation in refrigeration systems are driving the widespread adoption of natural refrigerants. Manufacturers are developing advanced cooling solutions that leverage natural refrigerants while ensuring optimal performance, safety, and reliability. These innovations include transcritical CO2 systems, cascade refrigeration systems, and hybrid cooling systems that combine multiple refrigerants for enhanced efficiency and versatility. Additionally, governments and industry stakeholders are promoting the use of natural refrigerants through incentives, subsidies, and awareness campaigns, further accelerating their uptake in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 181 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $2.08 Billion |
| Forecasted Market Value (USD) by 2029 | $3.37 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Green Cooling Technologies Market.
Carrier Global Corporation Daikin Industries Ltd Honeywell International Inc. Johnson Controls International PLC Trane Technologies Company, LLC Emerson Electric Co. Ingersoll Rand Inc. Mitsubishi Heavy Industries Ltd Schneider Electric S.E. Asetek Inc.
Report Scope:
Green Cooling Technologies Market, By Product:
Mobile Air Conditioning Air Conditioning Chiller Unitary Air Conditioning
Green Cooling Technologies Market, By Application:
Residential Commercial Industrial
Green Cooling Technologies Market, By Region:
North America United States Canada Mexico Europe France United Kingdom Italy Germany Spain Asia Pacific China India Japan Australia South Korea South America Brazil Argentina Colombia Middle East & Africa South Africa Saudi Arabia UAE Kuwait Turkey
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Global Green Cooling Technologies Market
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