Implementation of stringent environmental regulations toward the usage of greenhouse gases & chlorofluorocarbons, increase in awareness about global warming are the key factors that drive the growth of the global transcritical CO2 systems market. Moreover, the growth of market is driven by lower operating cost of transcritical CO2 systems, increase in demand for air conditioning & refrigeration applications, and low environmental impact by the use of these systems. Furthermore, increase in application of transcritical CO2 as a refrigerant in the food processing industry and decrease in use of other substitutes such as HFCs, CFCs, and HCFCs supplement the market growth.
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However, the growth of the market is restrained by factors such as high installation cost, increase in initial capital investment, and flammability & toxicity issues. Challenges faced by the transcritical CO2 systems market are lack of awareness about transcritical CO2 systems, lack of know-how about the operation of the system, and presence of few players in purification of CO2 systems.
The global transcritical CO2 systems market is segmented into function, application, end-use industry, and region. Depending on function, the global transcritical CO2 systems market is categorized into heating, air conditioning, and refrigeration. The applications covered in the study include heat pumps, supermarkets & convenience stores refrigeration, food processing & storage facilities, ice rinks, and others. By end-use industry, the market is segregated into retail, marine, food processing, transportation, ice skating rinks, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Players
- Danfoss
- Henry Group Industries
- Hussmann Corporation
- Green & Cool World Refrigeration AB
- Carrier Commercial Refrigeration
- Hillphoenix
- Advansor
- BITZER,
- Carnot Refrigeration
- SCM Frigo S.p.A.
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KEY BENEFITS FOR STAKEHOLDERS
- The report outlines the current market trends and future scenario of the transcritical CO2 systems market size from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
- Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the transcritical CO2 systems industry for strategy building.
- Major countries in the regions have been mapped according to their individual revenue contribution.
- The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study.
- The market analysis covers in-depth information of major industry participants.
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