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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
The use of refrigerants has been gaining immense importance in India in the last few years. Refrigerants are used to reduce heat and increase cooling efficiency inside a passenger vehicle, As well as an air-conditioning unit in an industrial or residential setting.
Many of the refrigerants utilized are CFCs (Chlorofluorocarbons) which were first synthesized in the 1800âs, Unfortunately due to their ozone-depleting properties they have been increasingly phased out by more environmentally friendly CO2 based refrigerants since 1990 through Montreal Protocol and HFC regulations both nationally and internationally.
In recent years hydrocarbons (HCs) have also become popular organic gasses for cooling such as isobutane or propane.
India is one of the most prominent markets for automotive air conditioning systems due to its massive population growth, lack of public transportation (e.g., train networks) and increasing middle class wealth fueling demand for comfort in vehicles on a historically uncommon level.
For these reasons, regulatory bodies are taking extra measures to ensure that any Coolant Gas coming from Global manufacturers meet Indian Standards before entering market beyond just meeting International standards like those put forth by UNFCCCâs Kyoto Protocol & ISO 14001/18000 international standard management system.
Manufacturers certified to export CFCs to India must be registered in India and have a certification of compliance issued by the Central Pollution Control Board (CPCB).
The CPCB strictly monitors the manufacture, importation, or used of any CFC refrigerants throughout all sectors of society that require them like Industrial air conditioning systems, automotive air conditioning systems and used in medical applications.
This ensures that these substances do not leak into the atmosphere resulting in contamination or harm to human health from increased ozone depletion.
The India refrigerant market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
| S No | Company Name | Development |
|---|---|---|
| 1 | Danfoss | To promote the development and use of low-GWP refrigerants in India, such as CO2 (R744) and other natural refrigerants, Danfoss has established a centre of excellence for green refrigerants at its facility in Chennai, India. Danfoss actively promotes natural refrigerants and supports initiatives pertaining to energy efficiency, district energy systems, and other cooling technologies as a UN Sustainable Energy for All partner. |
| 2 | Samsung | The new DVM S2 Variable Refrigerant Flow (VRF) outdoor air conditioner from Samsung effectively and gently lowers the room's ambient temperature without the need for wind. It is designed to work in tandem with indoor air conditioning units. By dispersing air through 23,000 micro holes at a speed of 0.15 m/s, WindFree technology helps to create a still air environment by removing strong cold draughts. |
| 3 | Mitsubishi Electric | In order to provide natural refrigerants that satisfy regional demand and to increase production for a steady supply of products, Mitsubishi Electric is expediting the release of its high-performance, energy-efficient, and environmentally friendly products. As more people and businesses switch to energy-efficient and low-GWP refrigerants, there will likely be an increase in demand for newer models of air conditioning and refrigeration systems to replace outdated ones. |
| 4 | Daikin | With the refrigerant R-1234ze(E), Daikin introduced a new generation of inverter-driven screw chiller series that are both water- and air-cooled. The TZ series air-cooled chiller range will be available with a cooling capacity ranging from 130 kW to 830 kW, while the VZ series water-cooled chiller range will be available with a cooling capacity ranging from 340 kW to 1600 kW.The use of R-1234ze(E) reduces the screw compressor chiller's contribution to global warming. |
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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