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, Middle East & Africa) - Trends, Analysis and Forecast till 2029

Transcritical CO₂ systems and compressors use CO₂ as a working fluid that has now found various applications in various sectors. For instance, it has been used as compressors in household appliances. Further, it is used in retail segments such as supermarkets and hypermarkets. In this the heat rejection happens at the pressure and temperature above the critical point in fluid region and so the process is called cooling process and the heat exchanger is called gas cooler. It has various properties which include low global warming problem (GWP) value in comparison to other refrigerants, can be used for low and medium temperature applications, zero ODP, allows heat rejection, can be used in all environmental conditions. Due to the usage of transcritical CO₂ systems, the depletion of ozone layer and the harmful effects on the environment has been reduced and also is cost effective.

Low environmental impact of transcritical CO₂ systems is the major factor driving the growth of the global transcritical CO₂ market. In addition, phasing out CFC, HCFC, and HFC refrigerants is expected to fuel the global transcritical CO₂ market growth in the forecast period. Furthermore, increasing demand for refrigeration and air-conditioning applications is propelling the growth of the global market. Moreover, lower operating cost of transcritical CO₂ refrigeration systems is boosting the target market growth. Additionally, transcritical CO₂ refrigeration has a high safety rating and is non-toxic and non-flammable due to which there is hike in their demand, increasing the target market growth.

With this, being an inert product it is attuned with every common material of a refrigerating circuit including plastics, metals and elastomers. Owing to such properties of the product it offers enormous advantages in terms of functionality and hence no other gas is as compatible as it is for using as a refrigerant. These factors are expected to drive demand for transcritical CO₂ market globally in the upcoming years. However, high cost of their production is restraining the growth of the market globally. In addition, initial cost of instalment of transcritical CO₂ is high which is expected to hamper the growth of the target market in the coming years.

The global transcritical CO₂ system market is segmented into function, application, and region. On the basis of function, the global market is sub-divided into refrigeration, heating, and air conditioning. Based on the application, the target market is bifurcated into Supermarkets and Convenience Stores, Heat Pumps, Food Processing & Storage Facilities, and Ice Skating Rinks.

On the basis of region, the global transcritical CO₂ system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has the largest market revenue for the transcritical CO₂ market. This region is home to most of the world’s top and other leading food manufacturing companies that have now switched to using CO₂ for refrigeration. Asia Pacific is expected to witness the significant growth of the target market owning to rising awareness of environmental issues and various policies given by the government.

Key players in the global transcritical CO₂ system market are Shecco SPRL, Mayekawa MSG. Co., Ltd., Systems LMP, Inc., Henry Technologies, Inc., Baltimore Aircoil Company, Inc., Advansor A/S, Danfoss GmbH, Bitzer Kühlmaschinenbau GmbH, SCM Frigo SPA, and Emerson Climate Technologies.