Latest News- Automotive Refrigerant Market: Passenger car is expected to lead the Vehicle Type segment during 2025-2029

The Automotive Refrigerant Market is being driven by Higher time spent inside vehicles drives demand for cabin comfort features

The Automotive Refrigerant Market is expected to grow at a CAGR of 9.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1809 million. In the global automotive refrigerant market, R-134a has traditionally held a dominant position. However, regulatory shifts in developed regions, such as the EU, are driving a transition towards the adoption of R-1234yf refrigerant. The EU's ban on refrigerants with a Global Warming Potential (GWP) exceeding 150 has accelerated the adoption of R-1234yf. In the US, approximately half of new vehicles now utilize R-1234yf, with this trend primarily driven by the US Environmental Protection Agency's (EPA) Greenhouse Gas Emissions and Corporate Average Fuel Economy Standards program for light-duty vehicles (US EPA, 2012). 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Vehicle Type
  • Passenger car
  • Commercial vehicle
• Type
  • R134a
  • R1234yf
  • Others
• Application
  • OEM
  • Aftermarket
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Higher time spent inside vehicles drives demand for cabin comfort features
• Growing popularity of automotive thermal systems boosts refrigerant consumption
• Rise in safety and comfort due to adoption of HVAC systems

However, the market also witnesses some limitations, which are as follows:

• High costs associated with redesigning automotive HVAC systems
• Growing popularity of automatic HVAC systems to reduce consumption volumes of refrigerant
• Rising environmental concerns

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Market Scope in Automotive Refrigerant Market Research Report

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Research Analysis Overview

The Automotive Refrigerant Market caters to various sectors including thermal comfort in Passenger Car Vehicles, Air Conditioning in Private Vehicles and Public Transport, and Ambient Comfort in Light Commercial Vehicles and Heavy Commercial Vehicles. Eco-friendly refrigerants are gaining popularity due to increasing environmental concerns. Automatic Climate Control systems use Primary and Secondary refrigerants for cooling equipment and refrigeration systems in vehicles. Vehicle Sales and Rental Industry are significant end-users. Low and High temperature refrigerants are used based on the specific application requirements.

Market Research Overview

The Automotive Refrigerant Market is a significant segment of the global specialty chemicals industry, encompassing businesses that manufacture and supply high-value chemicals for thermal comfort systems in vehicles. These chemicals include eco-friendly refrigerants, utilized in automotive air conditioning systems, and components for automatic climate control. Market expansion is anticipated due to the increasing demand for ambient comfort in vehicles, resulting in a surge for specialized refrigerants and related technologies. Technavio's market analysis indicates that the global specialty chemicals market size will grow substantially, driven by the rising preference for specialty adhesives and sealants in the automotive sector during the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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