Press release
Refrigerant Recovery System Market: New Investment Opportunities Emerge to Augment Segments in Sector by 2025
Refrigerant Recovery System Market
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.
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Global Refrigerant Recovery System Market: Market Dynamics
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.
Global Refrigerant Recovery System Market: Market Segmentation
The global refrigerant recovery system market can be segmented on the basis of power range, application, method, installation type and region.
On the basis of power range, the global refrigerant recovery system market can be segmented into:
Low-Pressure Units (0.1 hp to 0.75 hp)
Medium-Pressure Units (0.75 hp to 3 hp)
High-Pressure Units (more than 3 hp)
On the basis of application, the global refrigerant recovery system market can be segmented into:
Small Refrigerant Recovery Machine
Commercial Refrigerant Recovery Machine
Industrial Refrigerant Recovery Machine
Residential Refrigerant Recovery Machine
Explosion Proof Refrigerant Recovery Machine
On the basis of method, the global refrigerant recovery system market can be segmented into:
Vapor Recovery Method
Push-Pull Recovery Method
Liquid Recovery Method
On the basis of installation type, the global refrigerant recovery system market can be segmented into:
Portable Equipment
Onsite Equipment
Global Refrigerant Recovery System Market: Regional Outlook
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.
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Global Refrigerant Recovery System Market: Key Participants
Examples of some of the market participants in the global refrigerant recovery system market discerned across the value chain include
RefTec International Systems, LLC
Nanjing Wonfulay Precision Machinery Co., Ltd.
Bosch Automotive Service Solutions Inc. (Robinair)
Appion Inc.
INFICON
JB Industries
Wilhelmsen Holding ASA
Ritchie Engineering Inc.
REFCO Manufacturing Ltd.
Bacharach, Inc.
Yao Chuan Enterprise Co., Ltd.
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The Industrial Automation team at Persistence Market Research provides expert opinions and incisive inputs about broad array of products used extensively in the manufacturing industry. The team has compiled comprehensive market research reports on gears, valves, bearings, special purpose machinery, and other key segments in this evolving landscape. In addition to offering syndicated market research studies, the team consults clients from all across the globe on their unique, strategic needs. Need help with your next project? Feel free to reach out.
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