Transcritical CO2 Market

Transcritical CO2 Market by Size, Share and Growth Report 2022-2027

Market Overview 2022-2027:

The latest research study “Transcritical CO2 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global transcritical CO2 market reached a value of US$ 37.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 101.08 Billion by 2027, exhibiting a CAGR of 17.20% during 2022-2027.

Industry Definition and Application:

Transcritical CO2 represents a refrigeration system comprising a gas cooler to dissipate heat and a high-pressure expansion valve to control the evaporator. It is non-flammable, environmental-friendly, non-toxic, and has good heat transfer properties with a high latent heat of vaporization. Transcritical CO2 is cost-effective as compared to conventional refrigeration systems. In line with this, it assists in recovering the rejected heat, on account of the higher enthalpy of the system that can be used for building heating, ventilation, and air conditioning (HVAC), and domestic hot water. Consequently, transcritical CO2 finds extensive applications in the retail and food and beverage (F&B) industries across countries.

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Market Trends:

The escalating demand for air conditioning units in the hospitality and residential sectors is primarily driving the transcritical CO2 market. Additionally, the implementation of various stringent regulations by government bodies to reduce the use of fluorinated gases (F-gases) is further catalyzing the market growth.

Besides this, the widespread adoption of CO2 as an alternative, owing to its high energy performance and the same technical reliability as HFC-134a refrigerant, is acting as another significant growth-inducing factor. Moreover, the rising utilization of transcritical CO2 in cold storage facilities and the increasing consumer environmental concerns are also positively influencing the global market.

Apart from this, high maintenance costs of hydro-chlorofluorocarbon (HCFC) and chlorofluorocarbon (CFC) based equipment are anticipated to fuel the transcritical CO2 market over the forecasted period.

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Transcritical CO2 Market Report Scope
Report CoverageDetails
Market size value in 2021US$ 37.56 Billion
Market forecast in 2027US$ 101.08 Billion
Growth RateCAGR of 17.20% from 2022 to 2027
Base year for estimation2021
Historical data2016-2021
Forecast period2022-2027
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredFunction, Application and Region

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Function:

  • Refrigeration
  • Heating
  • Air Conditioning

Breakup by Application:

  • Supermarkets and Convenience Stores
  • Ice Skating Rinks
  • Food Processing and Storage Facilities
  • Heat Pumps
  • Others

Breakup by Geography:

  • North America:( United States, Canada)
  • Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Baltimore Aircoil Company Inc. (AMSTED Industries Incorporated)
  • Carrier Global Corporation
  • Danfoss
  • Dorin S.p.A.
  • Bitzer SE
  • Carnot Refrigeration (M&M Refrigeration)
  • Emerson Electric Co.
  • Hill Phoenix Inc. (Dover Corporation)
  • Mayekawa Mfg. Co. Ltd.
  • Panasonic Holdings Corporationz
  • SCM Frigo S.p.A.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact:

Company Name: IMARC Group

Contact Person: Elena Anderson

Phone: +1-631-791-1145

Address: 30 N Gould St Ste R

City: Sheridan

State: WY

Country: United States


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