Transcritical CO2 Market Drivers and Opportunities [2020-2030]
The transcritical CO2 market size is projected to reach US$ 140,931.01 million by 2030 from US$ 48,529.81 million in 2023. The market is expected to register a CAGR of 16.5% during 2023–2030. The growing need for sustainable cooling and refrigeration solutions is likely to remain a key trend in the market.
Transcritical CO2 Market Analysis
Government policies and regulations related to environmental sustainability and the phase-out of harmful refrigerants can influence the adoption of transcritical CO2 systems globally. For instance, in March 2021, the government of South Africa revised 2030 greenhouse gas emission targets to a range of 398-440 MTCO2e. Such policies may increase the adoption of transcritical CO2 systems globally. Growing environmental consciousness and awareness of climate change can lead to a boosted demand for environment-viable solutions such as transcritical CO2 systems, which, in a way, are boosting the growth of the transcritical CO2 market at the global level.
Transcritical CO2 Market Overview
The adoption of advanced technologies in refrigeration and cooling systems can impact the attractiveness and competitiveness of transcritical CO2 systems in the market. The presence of leading players in the transcritical CO2 market, such as Bitzer Africa and Baltimore Aircoil Africa, is driving the market globally. A growing economy and stable financial conditions can positively influence consumer spending and industrial investment, leading to increased demand for energy-efficient and eco-friendly technologies, which is projected to drive the demand for the transcritical CO2 market globally.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Transcritical CO2 Market: Strategic Insights
Transcritical CO2 Market
-
CAGR (2023 - 2030)
16.5%
-
Market Size 2023
US$ 48,529.81 Million
-
Market Size 2030
US$ 140,931.01 Million
Market Dynamics
GROWTH DRIVERS
- Adoption of Transcritical CO2 Systems in Supermarkets and Convenience Stores
FUTURE TRENDS
- Growing Adoption of Integrated Transcritical CO2 Systems
OPPORTUNITIES
- Adverse Impact of High Global Warming Potential Refrigerants
Key Players
- TEKO Gesellschaft fur Kaltetechnik mbH
- Baltimore Aircoil Co
- BITZER Kuhlmaschinenbau GmbH
- Carrier Global Corp
- Danfoss AS
- Hussmann Corporation
- Emerson Electric Co
- Panasonic Holdings Corp
- Evapco LMP Inc
- Mayekawa Manufacturing Co Ltd
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Application
- Ice Skating Rinks
- Food Processing & Storage Facilities
- Heat Pumps
- Supermarkets & Convenience Stores
Function
- Air Conditioning
- Refrigeration
- Heating
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Transcritical CO2 Market: Strategic Insights
-
CAGR (2023 - 2030)16.5% -
Market Size 2023
US$ 48,529.81 Million -
Market Size 2030
US$ 140,931.01 Million
Market Dynamics
- Adoption of Transcritical CO2 Systems in Supermarkets and Convenience Stores
- Growing Adoption of Integrated Transcritical CO2 Systems
- Adverse Impact of High Global Warming Potential Refrigerants
Key Players
- TEKO Gesellschaft fur Kaltetechnik mbH
- Baltimore Aircoil Co
- BITZER Kuhlmaschinenbau GmbH
- Carrier Global Corp
- Danfoss AS
- Hussmann Corporation
- Emerson Electric Co
- Panasonic Holdings Corp
- Evapco LMP Inc
- Mayekawa Manufacturing Co Ltd
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Ice Skating Rinks
- Food Processing & Storage Facilities
- Heat Pumps
- Supermarkets & Convenience Stores
- Air Conditioning
- Refrigeration
- Heating
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Transcritical CO2 Market Drivers and Opportunities
Implementation of Transcritical CO2 Systems in Supermarkets and Convenience Stores to Favor Market
Changing consumer preferences, such as a demand for eco-friendly products and sustainable practices, can impact the adoption of transcritical CO2 systems in the retail and food industries. Growing environmental consciousness and awareness of climate change can lead to a fuelled demand for sustainable solutions such as transcritical CO2 systems. Developed regions like Europe are showing an inclination towards the adoption of advancing technologies. Higher disposable incomes owing to economic prosperity have been a major factor driving economic growth. Furthermore, the higher disposable income is leading to growing expenses on quality food products in retail stores and supermarkets. Such a social factor is helping the growth of supermarkets, hypermarkets, retail stores, convenience stores, etc, which is anticipated to boost the development of transcritical CO2 market growth globally.
Adverse Impact of High Global Warming Due to GWP Refrigerants
Developed economies like the European Union and North America are more focused on the adoption of advanced technology in various industry verticals. The North American and European Union have implemented laws and policies aimed at lowering greenhouse gas emissions and combatting climate change. Also, the European Union has implemented regulations to phase out hydrofluorocarbons with high global warming potentials. This has created a beneficial regulatory environment for transcritical CO2 systems, driving their growth in the European market. The mounting awareness of the adverse impact of GWP refrigerants is anticipated to drive the growth of the transcritical CO2 market in the coming years.
Transcritical CO2 Market Report Segmentation Analysis
Key segments that contributed to the derivation of the transcritical CO2 market analysis are application and function.
- Based on the application, the transcritical CO2 market is divided into ice skating rinks, heat pumps, food processing & storage facilities, supermarkets & convenience stores, and others. The supermarkets and convenience stores segment held a larger market share in 2023.
- By function, the market is segmented into air conditioning, refrigeration, and heating. The refrigeration segment held a significant share of the market in 2023.
Transcritical CO2 Market Share Analysis by Geography
The geographic scope of the Transcritical CO2 market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Europe is leading the market. Europe is one of the leading regions for the adoption of advancing technologies. Countries like the UK, Germany, and France have adopted advanced technology such as IoT, IIoT, and Industry. Continuous advancements in transcritical CO2 system technology have improved their performance, efficiency, and reliability. European manufacturers and researchers have played a key role in developing and refining transcritical CO2 system components and system designs. These advancements boosted the transcritical CO2 market.
Transcritical CO2 Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 48,529.81 Million |
Market Size by 2030 | US$ 140,931.01 Million |
Global CAGR (2023 - 2030) | 16.5% |
Historical Data | 2020-2021 |
Forecast period | 2022-2030 |
Segments Covered |
By Application
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Transcritical CO2 Market News and Recent Developments
The Transcritical CO2 market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Transcritical CO2 market are listed below:
- EDEKA Beckesepp, a German food retailer company, installed a transcritical CO2 (R744) refrigeration system for Teko GmbH. (Source: EDEKA Beckesepp, Press Release, January 2022)
- Carrier Commercial Refrigeration showcased its 20,000th carbon dioxide (CO2) transcritical refrigeration rack in Europe, marking a significant achievement for the company, including its PROFROID and Green & Cool brands. (Source: Carrier Global Corp, Press Release, December 2022)
Transcritical CO2 Market Report Coverage and Deliverables
The “Transcritical CO2 Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
- Transcritical CO2 market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Transcritical CO2 market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Transcritical CO2 market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the transcritical CO2 market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application, and Function
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
15.4% is the expected CAGR of the transcritical CO2 market.
US$ 1,52,352.4 million estimated value of the transcritical CO2 market by 2031.
TEKO Gesellschaft fur Kaltetechnik mbH, Baltimore Aircoil Co, BITZER Kuhlmaschinenbau GmbH, Carrier Global Corp, Danfoss AS, Hussmann Corporation, Emerson Electric Co, Panasonic Holdings Corp, Evapco LMP Inc, Mayekawa Manufacturing Co Ltd are some of the leading players in the market.
The adoption of transcritical CO2 systems in supermarkets and convenience stores is the future trend of the Transcritical CO2 market.
Europe dominated the transcritical CO2 market in 2023.