Transcritical CO2 Systems Market is estimated to be US$ 174.3 billion by 2032: Increasing Demand for Refrigeration and Air Conditioning Applications to Propel Market Growth.

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Published Date: February 2023

Transcritical CO2 systems are distinguished by the fact that their working fluid passes through the subcritical and supercritical stages, the liquid (CO2) is first boiled and expanded into superheated steam through an evaporator, and then a compressor is used to increase the heat and pressure of the superheated steam. Unlike subcritical systems, transcritical CO2 systems include gas coolers to dissipate heat and use high-pressure expansion valves to control access to the evaporator Transcritical CO2 booster systems are the best solutions for using natural refrigerants in retail contexts. In transcritical cycles, higher CO2 discharge temperatures allow better utilization of energy and, operating in the supercritical region, higher DHW product temperatures can be obtained, since there is no phase change, and higher temperatures can be reached than other refrigerants. A transcritical system is defined as a system operating above the critical point, the table below shows the PH diagram of R-22, showing the liquid, saturated mixture and gas phase, the top of the saturation dome is the critical point. The transcritical CO2 system market is segmented into various applications such as supermarkets and convenience stores, heat pumps, food processing and storage facilities, and ice skating rinks. Among these applications, the retail segment is dominating the market with nearly 66.1% market share in 2018. Moreover, increasing demand for refrigeration and air conditioning applications is driving the growth of the global market. Moreover, the low operating cost of transcritical CO2 refrigeration systems is driving the growth of the target market. Additionally, transcritical CO2 refrigeration has a high safety rating and is non-toxic and non-flammable, leading to an increase in their demand, leading to growth in the target market.

Implementation of stringent environmental regulations for the use of greenhouse gases and chlorofluorocarbons, and increasing awareness about global warming are the key factors driving the growth of the transcritical CO2 system market. However, increasing demand for refrigeration and air conditioning applications is anticipated to drive operating offers in the transcritical CO2 system market. These systems have a low leakage rate with a negligible global warming potential and minimal ozone depletion potential and are energy efficient and cheaper than fluorocarbon refrigerants, thus, these factors drive high demand for transcritical CO2 and drive market growth during the forecast period.

The report “Transcritical CO2 Systems Market, By Function (Refrigeration, Heating, and Air Conditioning), By Application (Supermarkets and Convenience Stores, Heat Pumps, Food Processing & Storage Facilities, and Ice Skating Rinks), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends Analysis and Forecast till 2032 “

Key Highlights:

In August 2022, Baltimore Aircoil Company is proud to introduce the VertexTM Evaporative Condenser, where peak reliability meets easy maintenance, the Vertex Condenser offers maximum uptime with easy and safe accessibility. It has the lowest total cost of ownership with the lowest installation, maintenance and operating costs.
In February 2022, Japanese OEM Panasonic launched a 40HP CO2 condensing unit at the Supermarket Trade Show 2022 exhibition. The new models reduce installation costs by approximately 15% compared to older models in standard mid-size stores.

Analyst View:

The use of transcritical CO2 helps retailers reduce energy consumption by reducing maintenance costs of refrigeration systems, Transcritical CO2 systems operate at higher pressures than other refrigeration systems. Transcritical CO2 systems are environmentally friendly and reliable and are defined as systems operating above the critical point. Transcritical CO2 systems, also known as TC CO2 systems, are used in refrigeration and air conditioning in buses and trains, water chillers, beverage coolers, ice cream chest freezers, refrigeration systems in supermarkets, and many other industrial and domestic applications.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Transcritical CO2 Systems Market, By Function (Refrigeration, Heating, and Air Conditioning), By Application (Supermarkets and Convenience Stores, Heat Pumps, Food Processing & Storage Facilities, and Ice Skating Rinks), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

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Key Market Insights from the report:

Transcritical CO2 Systems Market accounted for US$ 41 billion in 2022 and is estimated to be US$ 174.3 billion by 2032 and is anticipated to register a CAGR of 20.2%. The Transcritical CO2 Systems Market is segmented based on Function, Application and Region.

Based on Function, Transcritical CO2 Systems Market is segmented into Refrigeration, Heating, and Air Conditioning.
Based on Application, Transcritical CO2 Systems Market is segmented into Supermarkets and Convenience Stores, Heat Pumps, Food Processing & Storage Facilities, and Ice Skating Rinks.
By Region, the Transcritical CO2 Systems Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Transcritical CO2 Systems Market:

The prominent players operating in the Transcritical CO2 Systems Market include Shecco SPRL, Mayekawa Mfg. Co., Ltd., Systemes LMP, Inc., Henry Technologies, Inc., Baltimore Aircoil Company, Inc., Advansor A/S, Danfoss GmbH, Bitzer, SCM Frigo, S.p.A., and Emerson Climate Technologies. The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge their businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period