Commercial & industrial refrigeration and HVAC systems unexpectedly break down and lead to serious losses and unexpected emergencies. Leakage of the aforementioned chemicals can lead to the malfunctioning of the refrigeration unit. To prevent this, refrigeration leak detection becomes extremely critical.
Throughout the forecast period, all of these developments are anticipated to increase demand for refrigerant leak detectors. For the forecast period under consideration, which is 2020–2030, a value CAGR of 3.1% is forecast.
Refrigeration leak detectors, or refrigerant detectors, are devices utilized to check and contain the oozing of chemicals such as chlorofluorocarbons (CFCs) or hydrochlorofluorocarbons (HCFCs).
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Refrigerant leak detectors are being extensively applied in both commercial and household grade refrigerators. Restaurants, hotels, catering facilities, bakeries, supermarkets, cold storage facilities and medical facilities all use refrigeration systems where leak detectors are imperative to ensure safety and avoid equipment downtime.
Refrigeration Leak Detector Market – Key Takeaways
- In terms of end-use, the Industrial-grade category will remain significant, holding close to 60% of the revenue.
- Based on product type, increased demand for efficacy is escalating the implementation of handheld leak detectors.
- Electric detectors category will be towering in the worldwide market as well as will be touching a valuation of US$ 133.3 Mn towards 2030 end.
- South Asia & Pacific will contribute close to a quarter of the overall market share, due to amplifying emission levels.
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Refrigeration Leak Detector Market – Key Trends
- Growing trend of utilizing IoT and smart sensors for monitoring the refrigeration will allow the production of these detectors in a flexible manner and offer precise conditions in the market.
- High price of replacing the refrigerant offsets the expenditure sustained on repairing and locating potential leaks, this boosts the market demand for refrigeration leak detectors from residential and commercial grade appliance users in the coming years.
Refrigeration Leak Detector Market – Regional Analysis
- North America is projected to record notable progression in the forthcoming decade. The region will generate an incremental $ opportunity valuing US$ 5.5 Mn towards 2030 end, with the U.S putting up the highest revenue share.
- South Asia & the Pacific will record a huge rise as the majority of the population resides in the tropical areas, exposing individuals to extremely higher temperatures.
- Increasing industrialization as well as the growth of trade & commerce has increased the implementation of cooling and refrigerating systems over prominent verticals in the East Asian nation. China is at the vanguard of the East Asian expansion, contributing the highest revenue share.
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Refrigeration Leak Detector Market – Competitive Landscape
Leading companies functioning in the global refrigeration leak detector market include Fieldpiece Instruments Inc., Elitech Technology Inc., CPS Products Inc., MSA Safety, AGPTEK, ACME Engineering Products Ltd., Bacharach Inc., KANE INTERNATIONAL LIMITED, Emerson Electric Co., Ritchie Engineering Inc., Robinair, INFICON, and Testo SE & Co. KGaA.
Prominent companies in the scenario are focusing on developing multi-functional leak detectors, a combination of IoT as well as leveraging e-commerce platforms to enter potential markets. Furthermore, partnerships and collaborations are assisting them in increasing their distribution networks all over the world.
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Refrigeration Leak Detector Market – Taxonomy
Product Type
- Halide Detector
- Electronic Detector
Operation
- Hand-held
- Benchtop
End-Use
- Industrial
- Research & Academia
- Maintenance Service Providers
Regional Outlook:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
Get Valuable Insights into the Refrigeration Leak Detector Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global refrigeration leak detector market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the refrigeration leak detector market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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