Global Refrigeration Leak Detector Market: Overview
Refrigerator leak detectors are the devices that check and contain the oozing of chemicals like hydrofluorocarbon (HCFCs) and chlorofluorocarbons (CFCs). These devices are extensively used in household and commercial-grade refrigerators. Restaurants, cold storage facilities, hotels, bakeries, medical facilities, and catering facilities all use refrigeration systems with leak detectors to ensure safety and reduce or eliminate equipment downtime.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Industrial and commercial refrigeration have unexpected breakdowns that lead to serious losses. Leakage of the chemicals affects the devices and lead to malfunctioning of the unit. Thus, leak detectors become extremely important.
Global Refrigeration Leak Detector Market: Growth Factors
The global refrigeration leak detector market is expected to grow significantly during the forecast period due to the rising adoption of automated products in the developed region. There is a significant spike in the sale of refrigerators in recent years which have led to an increase in demand for leak detectors also.
Another factor that propelled the global refrigeration leak detector market significantly is the growing inclination of the consumer toward energy-efficient devices to save on their electricity bills.
Increasing global warming has continuously been a primary concern across the globe and hence the global warming potential (GWP) indicator was developed to measure the damage caused to the environment by the individual. As a result, the HCFCs and CFCs are found to have greater GWP, which means they pose greater damage to the environment. Due to its harmful effect on the environment, it has become important to install refrigerator leak detectors to check the leaking of the aforementioned gases and thus boost the global refrigeration leak detector market.
There is a stellar upsurge in the prices of HFC- and CFC-based refrigerators. Thus, the cost of refrigerator replacement outweighs the money incurred on finding and repairing the leaks. Consequently, it boosts the demand for leak detectors in the market globally.
The advent of advanced technology like artificial intelligence has opened green spaces for innovating smart solutions to avoid gas leakages. There is an increased kick off in eco-friendly technology that enabled the manufacturers to develop smart leak detection systems. Apart from checking for leaks, smart sensors facilitate some additional features like fault status monitoring, pressure, and temperature. As a result, this development has positively shaped the trajectory of the global refrigeration leak detector market.
Global Refrigeration Leak Detector Market: Segmentation
The global refrigeration leak detector market can be segmented into product type, operation, end-user, and region.
By product type, the market can be segmented into electronic and halide detectors. Of these, the electronic detectors have established hegemony due to the high precision and enhanced efficiency in the leak detecting process. The various leak detection technologies in electronic detectors include heated diode detection, ultrasonic, infrared, corona-suppression, and many more.
By operations, the market can be segmented into benchtop and hand-held operations. The hand-held operation detectors segment holds the largest share in the global refrigeration leak detector market due to the growing demand for easy-to-use devices.
By end-use, the market can be segmented into maintenance & service providers, research & academia, and industrial. Among the classified segments, industrial-grade detectors dominate the market owing to the rapid proliferation of the food & beverage sector, especially the frozen foods and ready-to-eat products that involve maximum utilization of cold storage. Moreover, the recent upsurge in the emergence of the licensed food chain franchises like McDonald’s and Subway drive the market growth significantly.
Global Refrigeration Leak Detector Market: Regional analysis
North America holds the largest share in the global refrigeration leak detector market owing to increased legal sanctions that curb the adoption of CFCs and HFCs. The region is also anticipated to witness a substantial growth rate during the forecast period.
South Asia is also emerging as the potential region in the global refrigeration leak detector market due to the growing incidences of indoor air pollution (IAP) that induces manufacturers to install the leak detectors in the devices.
Moreover, increasing industrialization also boosted the growth of the regional market and created lucrative opportunities for market players.
Global Refrigeration Leak Detector Market: Competitive Players
Some of the significant players in the global refrigeration leak detector market are Emerson Electric Co., CPS Products Inc., Fieldpiece Instruments Inc., Robinair, Ritchie Engineering, ACME Engineering, MSA Safety, AGPTEK, Testo SE & Co. KGaA, Bacharach Inc., Elitech Technology, Inc., and CPS Products, Inc.
Global Refrigeration Leak Detector Market: Regional Segment Analysis
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