Transcritical CO2 Systems - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Transcritical CO2 Systems Market is accounted for $27.20 billion in 2018 and is expected to reach $135.17 billion by 2027 growing at a CAGR of 19.5% during the forecast period. Some of the key factors influencing the market growth include increasing demand for refrigeration and air-conditioning applications, the low environmental impact of transcritical CO2 systems and the Implementation of stringent environmental regulations toward the usage of greenhouse gases & chlorofluorocarbons. However, low demand for transcritical CO2 systems and flammability and toxicity issues are hindering the market growth.
Transcritical CO2 systems are environmentally friendly and dependable that denied as a system that operates above the critical point. The transcritical CO2 systems are the most promising solutions using natural refrigerants in retail contexts. In this system, the heat recovery function exploits the heat normally dissolute by the gas cooler for domestic hot water production or space heating. These systems are suitable for medium to large supermarkets, cold storage facilities, and light industrial processes.
Amongst function, Refrigeration is mostly used in supermarkets and convenience stores. Transcritical CO2 refrigeration has a high safety rating and is non-toxic and non-flammable. Additionally, these systems are used in refrigeration processes due to their high volumetric cooling capacity.
By Geography, Europe is expected to witness significant growth on account of the recent F-Gas regulations/HFC phase-out plan which dictates the reduction of the use of HFC refrigerants. The region also houses the highest number of end-user entities, such as Tesco (UK) and Metro AG (Germany) that have already switched to refrigeration systems based on transcritical CO2 systems.
Some of the key players in global Transcritical CO2 Systems market are Danfoss, Carrier Commercial Refrigeration, Panasonic Corporation, Hillphoenix, Inc., Advansor, Carnot Refrigeration, Henry Technologies, Inc., Teko GmbH, Shecco SPRL, Green & Cool World Refrigeration AB, Mayekawa MFG. Co., Ltd., Emerson Climate Technologies, Bitzer, Baltimore Aircoil Company, Inc., SCM Frigo S.P.A., Systemes LMP, Inc., and Hussmann Corporation.
• Air Conditioning
• ICE Skating Rinks
• Heat Pumps
• Food Processing & Storage Facilities
• Other Applications
End Users Covered:
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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