Transcritical CO2 Market Strategies, Top Players, Growth Opportunities, Analysis, and Forecast by 2030

Transcritical CO2 Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Ice Skating Rinks, Food Processing & Storage Facilities, Heat Pumps, Supermarkets & Convenience Stores, and Others) and Function (Air Conditioning, Refrigeration, and Heating) and Geography

  • Report Code : TIPRE00003250
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 151

Transcritical CO2 Market Drivers and Opportunities [2020-2030]

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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.

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Transcritical CO2 Market: Strategic Insights

Transcritical CO2 Market
  • CAGR
    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

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentApplication
  • Ice Skating Rinks
  • Food Processing & Storage Facilities
  • Heat Pumps
  • Supermarkets & Convenience Stores
Market SegmentFunction
  • 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
  • Ice Skating Rinks
  • Food Processing & Storage Facilities
  • Heat Pumps
  • Supermarkets & Convenience Stores
By Function
  • Air Conditioning
  • Refrigeration
  • Heating
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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
  • 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

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Application, and Function

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

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


What is the expected CAGR of the transcritical CO2 market?

15.4% is the expected CAGR of the transcritical CO2 market.

What would be the estimated value of the transcritical CO2 market by 2031?

US$ 1,52,352.4 million estimated value of the transcritical CO2 market by 2031.

Which are the leading players operating in the Transcritical CO2 Market?

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.

What are the future trends of the transcritical CO2 market?

The adoption of transcritical CO2 systems in supermarkets and convenience stores is the future trend of the Transcritical CO2 market.

Which region dominated the transcritical CO2 market in 2023?

Europe dominated the transcritical CO2 market in 2023.

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