Global Transcritical CO2 Market Report 2022-2027

The global transcritical CO2 market size reached US$ 37.56 Billion in 2021. By 2027, It will reach US$ 101.08 Billion, growing at a CAGR of 17.20% (2022-2027).

SHERIDAN, WYOMING, UNITED STATES, November 15, 2022 /EINPresswire.com/ -- The latest research study “Transcritical CO2 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global transcritical CO2 market reached a value of US$ 37.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 101.08 Billion by 2027, exhibiting a CAGR of 17.20% during 2022-2027.

What is Transcritical CO2?

Transcritical CO2 represents a refrigeration system comprising a gas cooler to dissipate heat and a high-pressure expansion valve to control the evaporator. It is non-flammable, environmental-friendly, non-toxic, and has good heat transfer properties with a high latent heat of vaporization. Transcritical CO2 is cost-effective as compared to conventional refrigeration systems. In line with this, it assists in recovering the rejected heat, on account of the higher enthalpy of the system that can be used for building heating, ventilation, and air conditioning (HVAC), and domestic hot water. Consequently, transcritical CO2 finds extensive applications in the retail and food and beverage (F&B) industries across countries.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends and Drivers:

The escalating demand for air conditioning units in the hospitality and residential sectors is primarily driving the transcritical CO2 market. Additionally, the implementation of various stringent regulations by government bodies to reduce the use of fluorinated gases (F-gases) is further catalyzing the market growth. Besides this, the widespread adoption of CO2 as an alternative, owing to its high energy performance and the same technical reliability as HFC-134a refrigerant, is acting as another significant growth-inducing factor.

Moreover, the rising utilization of transcritical CO2 in cold storage facilities and the increasing consumer environmental concerns are also positively influencing the global market. Apart from this, high maintenance costs of hydro-chlorofluorocarbon (HCFC) and chlorofluorocarbon (CFC) based equipment are anticipated to fuel the transcritical CO2 market over the forecasted period.

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Global Transcritical CO2 Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:
• 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 Corporationz
• SCM Frigo S.p.A.

Key Market Segmentation:

The report has been segmented the market into following categories:

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 Geography:
• 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 (2016-2021)
• Market Outlook (2022- 2027)
• 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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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here

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