Transcritical Co2 Systems Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00131448
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Market Snapshot

CAGR:7.36
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 7.36
Energy & Power-companies
Energy & Power-Snapshot

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Report Overview

Transcritical CO2 Systems Market Analysis By Application (Supermarkets & Convenience Stores, Refrigerated Transport, Industrial Refrigeration, Others), By Technology (Two-Stage, Single-Stage), and By Region Forecast to 2032:

The Transcritical CO2 Systems Market is poised to experience substantial growth, with a Compound Annual Growth Rate (CAGR) of 5.72% projected between 2022 and 2032. This growth is expected to lead to an estimated increase of USD 12,345.67 million in market size. The expansion of this market is driven by several key factors, including the need for sustainable and environmentally friendly refrigeration solutions, the phase-out of synthetic refrigerants, and the adoption of transcritical CO2 systems across various industries. Transcritical CO2 systems represent an eco-friendly technology that utilizes carbon dioxide as a refrigerant to meet cooling and refrigeration needs.

Transcritical CO2 Systems Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Transcritical CO2 Systems Market is the increasing emphasis on environmental sustainability and the reduction of greenhouse gas emissions. Transcritical CO2 systems offer a sustainable alternative to synthetic refrigerants, which are known to contribute to ozone depletion and global warming. As governments and industries worldwide strive to meet sustainability goals, the adoption of transcritical CO2 systems has gained momentum.

Furthermore, the phase-out of hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs) in refrigeration and air conditioning applications has created a need for alternative refrigeration solutions. Transcritical CO2 systems provide a viable and energy-efficient option for cooling and refrigeration across various sectors.

Trends:

An emerging trend in the Transcritical CO2 Systems Market is the utilization of advanced technologies to enhance system efficiency. Two-stage transcritical CO2 systems, which incorporate additional compression stages, are gaining popularity due to their improved performance in hot climates and high-temperature applications. This trend aligns with the growing demand for transcritical CO2 systems in regions with warmer climates.

Additionally, the adoption of transcritical CO2 systems in refrigerated transport, such as refrigerated trucks and trailers, is positively impacting market growth. These systems provide reliable and efficient cooling for perishable goods during transportation, reducing food wastage and ensuring product quality.

Restraints:

One of the key challenges hindering the growth of the Transcritical CO2 Systems Market is the higher initial cost of transcritical CO2 systems compared to traditional refrigeration solutions. While transcritical CO2 systems offer long-term energy savings and environmental benefits, the upfront investment can be a barrier for some businesses, particularly small and medium-sized enterprises (SMEs).

Another restraint is the need for specialized training and expertise to install and maintain transcritical CO2 systems effectively. Proper system design, installation, and maintenance are essential for optimizing performance and ensuring the safety of these systems.

Transcritical CO2 Systems Market Segmentation By Application:

  • Supermarkets & Convenience Stores: Transcritical CO2 systems are widely used in supermarkets and convenience stores for refrigeration and air conditioning, offering efficient cooling solutions for perishable goods and customer comfort.
  • Refrigerated Transport: Transcritical CO2 systems play a crucial role in refrigerated transport, maintaining temperature-controlled conditions for the transportation of food and pharmaceuticals.
  • Industrial Refrigeration: Industries, including food processing and cold storage facilities, rely on transcritical CO2 systems for industrial refrigeration needs, ensuring the preservation of products.
  • Others: Additional applications may include data center cooling, commercial refrigeration, and heating.

Transcritical CO2 Systems Market Segmentation By Technology:

  • Two-Stage: Two-stage transcritical CO2 systems are designed with multiple compression stages, providing enhanced efficiency and performance in demanding environments.
  • Single-Stage: Single-stage transcritical CO2 systems are simpler in design and are suitable for various cooling and refrigeration applications.

Regional Overview:


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Europe is expected to be a key contributor to the global Transcritical CO2 Systems Market, driven by stringent environmental regulations and a strong focus on reducing carbon emissions. The European Union's commitment to phasing out synthetic refrigerants and promoting natural refrigerants aligns with the adoption of transcritical CO2 systems.

North America is another significant market for transcritical CO2 systems, with a growing emphasis on sustainability and energy-efficient technologies. Initiatives to reduce the environmental impact of refrigeration systems drive the demand for transcritical CO2 solutions.

Transcritical CO2 Systems Market Customer Landscape:

The Transcritical CO2 Systems Market serves a diverse customer base, including supermarket chains, transportation companies, industrial facilities, and commercial enterprises.

Major Transcritical CO2 Systems Market Companies:

Companies in the transcritical CO2 systems market provide a range of products and services related to refrigeration and cooling solutions.

Example companies include:

  1. Carrier Global Corporation: Carrier offers transcritical CO2 systems for various applications, including commercial and industrial refrigeration, helping customers meet sustainability goals.
  2. Danfoss Group: Danfoss provides transcritical CO2 system components, such as valves and controls, enabling efficient refrigeration solutions.
  3. Emerson Electric Co.: Emerson offers transcritical CO2 systems and components, contributing to sustainable and energy-efficient cooling solutions.

The competitive landscape analysis in the report provides insights into key market players, including:

  • BITZER Kühlmaschinenbau GmbH
  • Carnot Refrigeration
  • Green & Cool World Refrigeration AB
  • Scantec Refrigeration Technologies
  • Parker Hannifin Corp
  • Mayekawa Mfg. Co., Ltd
  • Hillphoenix, Inc.
  • Frascold S.p.A.
  • Baltimore Aircoil Company, Inc.

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on focus, dominance, and strength.

Segment Overview:

The Transcritical CO2 Systems Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Supermarkets & Convenience Stores
    • Refrigerated Transport
    • Industrial Refrigeration
    • Others
  • Technology Outlook (USD Million, 2019 - 2032):
    • Two-Stage
    • Single-Stage
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • Rest of Asia-Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL TRANSCRITICAL CO2 SYSTEMS MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. TRANSCRITICAL CO2 SYSTEMS MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Transcritical CO2 Systems Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. TRANSCRITICAL CO2 SYSTEMS MARKET BY Function INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Refrigeration

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Heating

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Air Conditioning

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. TRANSCRITICAL CO2 SYSTEMS MARKET BY Application INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Retail

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Heat Pumps

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4. Transportation

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.5. Food Processing and Storage

    6.5.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.5.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.6. Ice Skating

    6.6.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.6.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. TRANSCRITICAL CO2 SYSTEMS MARKET REGIONAL OUTLOOK

7.1. Transcritical CO2 Systems Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Transcritical CO2 Systems Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Transcritical CO2 Systems Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Transcritical CO2 Systems Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Transcritical CO2 Systems Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Transcritical CO2 Systems Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Shecco SPRL

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2. Mayekawa MSG

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3. Systems LMP

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. Henry Technologies

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Baltimore Aircoil Company

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. Advansor A/S

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7. Danfoss GmbH

    9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8. Bitzer Kühlmaschinenbau GmbH

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9. SCM Frigo SPA

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10. Emerson Climate Technologies

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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