Global Refrigeration Leak Detector Market Forecasts 2020-2027

Posted February 4, 2021 by Vidhyanigam98

Global Refrigeration Leak Detector Market is valued approximately USD 95.21 million in 2019 and is anticipated to grow with a healthy growth rate of more than 3.20% over the forecast period 2020-2027.

Bharat Book Bureau Provides the Trending Market Research Report on “Global Refrigeration Leak Detector Market Size study, by Product Type (Halide Detector, Electronic Detector) by Operation (Hand-held, Benchtop) by End-Use (Industrial, Research & Academia, Maintenance Service Providers) and Regional Forecasts 2020-2027 ”under Electronics Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.

Global Refrigeration Leak Detector Market is valued approximately USD 95.21 million in 2019 and is anticipated to grow with a healthy growth rate of more than 3.20% over the forecast period 2020-2027. Refrigeration leak detectors or refrigerant detectors are devices that are used to check and contain the oozing of chemicals such as Hydrochlorofluorocarbons (HCFCs) and Chlorofluorocarbons (CFCs). Leakage of refrigerants in HVAC systems is inevitable owing to the presence of imperfect joints, fittings and welding points. Some of these leaks are as low as 1 oz every decade and are not critical to the operation of the system while other leaks are more fatal causing a drop in efficiency of the heating and cooling system. The extensive use of HVAC systems across all sectors ranging from commercial, residential and industrial drives the demand for Refrigerant leak detectors. As shown by the Japan Refrigeration and Air Conditioning Industry Association, the total AC demand in North America increased from 15.31 million units in 2017 to 15.58 million units in 2018. Major share of this demand belonged to the USA with 14.85 million units in 2017. Moreover, the increasing construction of buildings leads to the deployment of these detectors such as increasing in number of restaurants, supermarkets, cold storage facilities, catering facilities and more. Furthermore, Stringent Environmental Protocols catalyze the adoption of the detectors. As for the measurement of the level of individual contribution, the global warming potential (GWP) indicator was developed. Individual buildings need to comply to these indicators for safe operations. Also, the Montreal Protocol set the standards to annual per capital consumption and production of ozone depleting substances to less than 0.3 kg. These protocols propel building owners to install leak detectors to curb emissions. However, lack of standardization regarding output levels impedes the growth of the market over the forecast period of 2020-2027. Although, technological advancements present a lucrative opportunity for the market.

The regional analysis of global Refrigeration Leak Detector market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapid industrialization and growth of trade and commerce would create lucrative growth prospects for the Refrigeration Leak Detector market across Asia-Pacific region.
Major market player included in this report are:
Elitech Technology Inc.
Fieldpiece Instruments Inc.
CPS Products Inc.
MSA Safety
ACME Engineering Products Ltd.
Bacharach Inc.
Emerson Electric Co.
Robinair, Ritchie Engineering Inc

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Halide Detector
Electronic Detector
By Operation:
By End-Use:Industrial
Research & Academia
Maintenance Service Providers
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Refrigeration Leak Detector Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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Tags global , market , refrigeration leak detector
Last Updated February 4, 2021