Global Transcritical CO2 Market Overview 2024-2032
IMARC Group, a leading market research company, has recently releases report titled “Transcritical CO2 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global transcritical CO2 market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global transcritical CO2 market size reached US$ 52.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 195.8 Billion by 2032, exhibiting a growth rate (CAGR) of 15.5% during 2024-2032.
Transcritical carbon dioxide (CO2) serves as a vital component for refrigeration and cooling, resulting from the purification and compression of CO2 gas. This refrigerant is undergoing a process that transforms it into a substance capable of shifting between supercritical and gaseous states, rendering it a viable choice for both low- and high-temperature cooling needs, setting it apart from traditional refrigerants. It comes in two primary variants, subcritical and transcritical, each showcasing distinct characteristics. Notably, it boasts properties characteristic of both gases and liquids, making it particularly well-suited for refrigeration applications. Noteworthy is its increasing recognition due to its environmentally responsible attributes, resulting in minimal contributions to global warming and a complete absence of ozone depletion potential. Furthermore, it delivers superior energy efficiency, reducing operational expenses, and ensuring compliance with rigorous environmental regulations. This refrigerant is actively utilized in commercial refrigeration settings such as supermarkets, food processing facilities, as well as heat pump systems for residential heating and cooling requirements. Its versatility and eco-friendliness contribute to its rising popularity in the refrigeration and cooling industry.
Global Transcritical CO2 Market Trends and Drivers:
The current business landscape is witnessing a pronounced surge in concern for environmental sustainability and an ongoing imperative to reduce greenhouse gas emissions, both of which are actively propelling market expansion. Notably, transcritical CO2 systems are presently demonstrating a capacity to deliver substantial cost savings, which, in turn, is fostering a promising market outlook. Furthermore, the escalating demand for precise temperature control and the maintenance of food quality within the food processing industry are reinforcing the market's growth trajectory. Moreover, governing agencies of various nations and international bodies are instituting stringent regulations and policies aimed at curbing greenhouse gas emissions. These measures are providing a significant impetus for the widespread adoption of transcritical CO2 systems. Simultaneously, a concomitant surge in technological advancements and robust research and development (R&D) initiatives is propelling innovation in transcritical CO2 systems, rendering them more efficient and cost-effective. In addition, the growing recognition of the enduring advantages offered by transcritical CO2 systems within supermarkets and hypermarkets is reinforcing market expansion. This upsurge aligns with the increasing preference for transcritical CO2 as a sustainable substitute for traditional refrigerants like hydrofluorocarbons (HFCs) and chlorofluorocarbons (CFCs), further substantiating the market's growth trajectory. The convergence of these factors signifies a dynamic and promising landscape for transcritical CO2 systems within the contemporary business milieu.
Global Transcritical CO2 Market 2024-2032 Analysis and Segmentation:
Top Key Players covered in this report are: Baltimore Aircoil Company Inc. (AMSTED Industries Incorporated), Bitzer SE, Carnot Refrigeration (M&M Refrigeration), Carrier Global Corporation, Danfoss, Dorin S.p.A., Emerson Electric Co., Hill Phoenix Inc. (Dover Corporation), Mayekawa Mfg. Co. Ltd., Panasonic Holdings Corporation, SCM Frigo S.p.A. etc.
The report segmented the market on the basis of region, function and application.
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 Region:
- 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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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