The global Transcritical CO2 Systems market was valued at USD 23.76 Billion in 2018 and is expected to reach USD 91.68 Billion by the year 2026, at a CAGR of 18.0 %. CO2 is environmentally friendly, not flammable, economical and chemically inert and thus it is extensively used in refrigerators, heat pumps and air conditioners. Thermodynamic and transport properties of CO2 systems are superlative for its application in heat pumps and vapor compression refrigerating appliances. The key driver for the market is the low environmental impact of transcritical CO2 systems, stringent government regulations for elimination fluorinated refrigerants along with the low operating cost of the equipment.
In the area of automotive air-conditioning, CO2 can be used as an ideal substitute for R-134a, which is a toxic gas, dangerous to health.
Several research and development projects into transcritical refrigeration of CO2, heat pump and air-conditioning systems have been undertaken currently mainly as an increasing concern towards greenhouse gas emissions. During the last decade, commercialization of transcritical carbon dioxide heat pump water heaters has increased globally. In 2019, Cryogium launched the new transcritical CO2 condensing units and double compressor systems with features like easy installation, components accessibility, and high weather resistance. COâ‚‚ is increasingly being used as a refrigerant in ice skating rinks, as it saves nearly 80-90% of the energy usage. The cost of CO2 systems used in ice skating rinks declined in -the past few years, making transcritical CO2 an excellent substitute to ammonia. Majority of ice skating rinks employing transcritical CO2 systems are located in Canada. Carnot Refrigeration and SCM Frigo are the major players producing transcritical CO2 systems for ice skating rinks
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Top Leading Players – Shecco SPRL, Mayekawa MSG., Systems LMP, Henry Technologies, Baltimore Aircoil Company among others
Further key findings from the report suggest
Market Overview:
Power and energy industry comprises of key companies operating in fuel, petroleum, natural gas, and nuclear power markets. Constant production of energy and power is imperative for country’s economic growth. It also covers exploration and production of oil and gas reserves, oil and gas drilling, and refining industries. Power and energy sector is one of the most diversified sector across the globe. Rapid industrialization and urbanization has increased the dependency on power and energy and industries today consume large amounts of fuel making energy industry a crucial element of today’s industrial infrastructure.
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For the purpose of this study, Reports and Data have segmented the Transcritical CO2 Systems market on the basis of function, application and region:
Function (Revenue, USD Million; 2016–2026)
Application (Revenue, USD Million; 2016–2026)
Regional Analysis Covers:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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