The global Trans critical CO2 market was valued at USD 9.56 billion in 2016 and is projected to reach USD 193.8 billion by 2025, growing at a CAGR of 39.7% from 2017 to 2025.
Transcritical CO2 is an efficient and innovative method used for heating and refrigeration purposes. These systems use liquid carbon dioxide as the primary coolant. The adverse effects faced due to usage of chlorofluoro carbons is driving the demand for these products. The increasing application in supermarkets is expected to further augment market demand over the forecast period.
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1. Market Drivers
1.1 Stringent environmental regulations related to usage of chlorofluorocarbons and greenhouse gases
1.2 Rising awareness about global warming has impeded the alarming necessity for usage of chlorine-free refrigeration and heat pump systems
2. Market Restraints
2.1 High installation cost
The global Transcritical CO2market is segmented on the applicationand region.
1. By Application:
1.2 Heat Pump
1.3 Food Processing Facilities
1.4 Ice Skating Rinks
2. By Region:
2.1 North America (U.S., Canada, Mexico)
2.2 Europe (Germany, UK, France, Rest of Europe)
2.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
2.4 Latin America (Brazil, Argentina, Rest of Latin America)
2.5 Middle East & Africa
The major players in the market are as follows:
1. Hill Phoenix Inc.
2. Carrier Commercial Refrigeration
3. Green & Cool World Refrigeration AB
4. Carnot Refrigeration Inc.
5. Emerson Climate Technologies
6. SCM Frigo SPA
7. BitzerKuhlmaschinenbau GmbH
8. Danfoss GmbH
9. Advansor A/S
10. Baltimore Aircoil Company Inc.
11. Henry Technologies Inc.
12. Systems LMP Inc.
13. Mayekawa MSG Co. Ltd.
14. Shecco SPRL
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Transcritical CO2market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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