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Refrigerant recovery systems or machines are used to remove refrigerants from refrigerating equipment according to environmental protection agency (EPA) standards. The refrigerant is accumulated into recovery storage tanks and customized containers for subsequent recycling and reuse.
Technicians utilize refrigerant recovery systems before repairing and executing maintenance on air conditioners and refrigerators. This is a legal requirement in many countries and this factor will attribute to the growth of refrigerant recovery system market.
Most of the refrigerant recovery systems have come a long way from being very complex, heavy and inefficient machines to very user-friendly, fast and light equipment. Furthermore, refrigerant recovery system today use oil-less compressors rather than hermetic compressors.
Refrigerant recovery systems are used in a wide range of applications including automobiles, window ACs, wall through ACs, restaurants, shopping malls, supermarkets and in various industries, such as food & beverage, petrochemicals and marine industry. Among all the methods adopted by customers, the vapor recovery method is the most common type of refrigerant recovery.
Most emissions from HVAC/R units occur through leakage during the operating life. Industrial systems are prone to leakage and thus, use of best practices during designing and maintenance can lead to significant leakage reductions. Emissions can be avoided through the use of good refrigerant recovery systems.
The growth in the global refrigerant recovery system market can be correlated with the growth in commercial and residential refrigeration market. While the adoption of air conditioners in developed countries has increased significantly in recent past, the coming years will see greater adoption in developing countries, especially in countries with hot and humid climates and large and growing populations, such as in China, India, ASEAN countries, Brazil and Middle Eastern countries.
Development of low-GWP AC systems and technological innovations in the existing HVAC/R systems may slow down the growth in refrigerant recover system market. The prime focus of manufacturers is to reduce the cost of equipment to gain a competitive edge in the market as the refrigerant recovery system market is flooding with a wide number of players.
Moreover, technological advancements in the design of refrigerant recovery systems owing to environmental norms enforced by the regional government will also aid in the growth of this market.
Automobile manufacturers in Europe are required to equip their vehicle models launched during the past two three years with a new, more environment-friendly refrigerant in order to reduce greenhouse gases. All vehicle manufactured after 2017 must necessarily come equipped with the new refrigerant. Automotive refrigerant recovery systems are specifically designed to ensure compatibility with new refrigerants.
This transition is poised to enhance the growth of refrigerant recover system market in Europe. Following this trend, the U.S., and some countries of Asia Pacific are expected to witness high growth in sales of refrigerant recovery systems in the forthcoming years.
The outlook for Latin America seems positive during the next couple of years as industries are becoming more innovative to meet domestic as well as global demand as well. All of this will contribute to the surge in the demand for refrigerant recovery systems in end-use industries. Moderate growth in the demand for refrigerant recovery units is expected in North America owing to low-level of HVAC/R replacement in the region.
Examples of some of the market participants in the global refrigerant recovery system market discerned across the value chain include
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
