Transcritical Co2 Market Size (2024 - 2029)

The transcritical CO2 market is anticipated to experience significant growth, driven by increasing demand from supermarkets, convenience stores, and food processing and storage facilities. Despite challenges such as a lack of awareness and the impact of the COVID-19 pandemic, the market is poised for expansion, particularly with opportunities in ice skating rinks. The supermarket and convenience store segment is expected to lead the market due to the rising use of transcritical CO2 for refrigeration and air conditioning. Europe currently holds a dominant position in the market, with substantial consumption in countries like the United Kingdom, Germany, and France.

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Market Size of Transcritical Co2 Industry

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Transcritical Co2 Market Outlook
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 18.00 %
Fastest Growing Market North America
Largest Market Europe
Market Concentration Low

Major Players

Transcritical Co2 Market Key Players

*Disclaimer: Major Players sorted in no particular order

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Transcritical Carbondioxide Market Analysis

The market for Transcritical Co2 is expected to grow at a CAGR of over 18% during the forecast period. Major factors driving the market studied are increasing demand from super markets & convenience stores segment and rising demand from food processing & storage facilities segment. On the flipside, lack of awareness about transcritical co2 systems and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.

  • Growing demand for transcritical co2 in ice skating rinks is expected to offer various lucrative opportunities for the growth of market.
  • By application, super markets & convenience stores segment is expected to dominate the market owing to the increase in the usage of transcritical co2 for refrigeration and air conditioning purposes.
  • Europe region dominated the transcritical co2 market across the globe with the largest consumption from countries such as United Kingdom, Germany, and France.

Transcritical Carbondioxide Industry Segmentation

The Transcritical Co2 market report includes:

Function
Referigeration
Heating
Air Conditioning
Application
Super Markets & Convenience Stores
Ice Skating Rinks
Food Processing & Storage Facilities
Heat Pumps
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Transcritical Co2 Market Size Summary

The transcritical CO2 market is poised for significant growth, driven by increasing demand from supermarkets, convenience stores, and food processing and storage facilities. This growth is attributed to the system's ability to reduce maintenance costs and energy consumption, making it an attractive option for refrigeration and air conditioning applications. The market is also benefiting from the rising awareness of its low ozone depletion and global warming potential, which aligns with global sustainability goals. Despite challenges such as limited awareness and the impact of the COVID-19 pandemic, the market is expected to expand, with ice skating rinks presenting new opportunities for application. The European region, particularly countries like the United Kingdom, Germany, and France, leads in market consumption due to stringent regulations on harmful refrigerants and the low environmental impact of transcritical CO2 systems.

The European market's dominance is further supported by government regulations promoting the use of environmentally friendly alternatives to chlorofluorocarbons and hydrofluorocarbons, which are being phased out. This regulatory environment, combined with the low operating costs and non-toxic nature of transcritical CO2 systems, is driving market growth in the region. The air conditioning market in Europe is also expected to grow, providing additional opportunities for transcritical CO2. The market is characterized by fragmentation, with key players like Carrier, Danfoss, ADVANSOR, BITZER, and Carnot Refrigeration holding a marginal share. These companies are instrumental in shaping the market landscape, leveraging government support and technological advancements to meet the growing demand for transcritical CO2 solutions.

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Transcritical Co2 Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Super Markets & Convenience Stores Segment

      2. 1.1.2 Rising Demand from Food Processing and Storage Facilities Segment

    2. 1.2 Restraints

      1. 1.2.1 Lack of Awareness About Transcritical Co2 Systems

      2. 1.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Function

      1. 2.1.1 Referigeration

      2. 2.1.2 Heating

      3. 2.1.3 Air Conditioning

    2. 2.2 Application

      1. 2.2.1 Super Markets & Convenience Stores

      2. 2.2.2 Ice Skating Rinks

      3. 2.2.3 Food Processing & Storage Facilities

      4. 2.2.4 Heat Pumps

      5. 2.2.5 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Transcritical Co2 Market Size FAQs

The Transcritical Co2 Market is projected to register a CAGR of greater than 18% during the forecast period (2024-2029)

Danfoss, BITZER, Carrier, Carnot Refrigeration and ADVANSOR are the major companies operating in the Transcritical Co2 Market.

Transcritical Co2 Report Snapshots

Transcritical Co2 Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)