The Global
Transcritical CO2 Market is anticipated to reach USD 22.44 billion by 2026
according to a new study published by Polaris Market Research.
Increasing application of
transcritical CO2 in food processing industry as refrigerant is the major
factor driving the product demand. It is used as a substitute for
environmentally harmful refrigerants including HCFCs, CFCs, and HFCs. The
development of transcritical CO2 as a refrigerant has shown potential in many
applications regarding system cost and efficiency both and makes it viable for
several applications that is not considered feasible. Some of the mechanism
where transcritical CO2 is currently used includes heat pumps water heaters for
commercial, domestic and industrial applications, refrigeration systems in
supermarkets, chest freezers of ice creams, beverage coolers, water chillers
for moderate climates industrial and air conditioning and refrigeration in
trains and busses.
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The other under development and
less commercialized systems that make use of the product include mobile heat
pumps, transport refrigeration systems in containers and ships, reversible and
space heating in residential heat pumps, vending machines for combined cold and
hot beverages, residential and non-residential combined cooling and heating
buildings, heat pumps for combined space, water heating and space heating. The
requirements of the product in increasing number of application systems are
expected to be the major factor driving its demand from several industries.
In comparison to the traditional
refrigerants, transcritical carbon dioxide has the best remarkable property of
having low critical temperature of 31.1 degree Celsius. Owing to this, it leads
to three discrete features of carbon dioxide in the refrigeration systems.
These include that heat is rejected at supercritical pressures, keeps the
pressure level quite high and during heat rejection it causes gliding of large
refrigerant temperatures. These fundamental functionality advantages on
application of transcritical carbon dioxide are expected to help in higher
penetration of its applications sectors. Hence, with such advantages of the
product and increasing application segments, the market value of TC CO2 is
expected to increase over the forecast period.
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Report with TOC Available @ https://www.polarismarketresearch.com/industry-analysis/transcritical-co2-market/
North America was the leading
regional market for consumption of transcritical CO2 refrigeration systems.
U.S. was the largest contributor to product demand in 2017. Regulations
concerning the limitations of refrigerants use and leakages along with
directions for using TC CO2 refrigerants in supermarkets are expected to drive
further product demand. The U.S. is also a leading manufacturer and exporter of
heat pumps, which is yet another potential factor driving the industry. Asia
Pacific is expected to be another leading player in the global scenario. The
expanding regional machinery manufacturing base and growing TC CO2 enabled
cooling systems is anticipated to boost product demand.
Some of leading and currently
active industry participants include Shecco SPRL, Mayekawa MSG. Co., Ltd.,
Systems LMP, Inc., Henry Technologies, Inc. , Baltimore Aircoil Company, Inc. ,
Advansor A/S, Danfoss GmbH, Bitzer Kühlmaschinenbau GmbH , SCM Frigo SPA,
Emerson Climate Technologies, Carnot Refrigeration Inc., Green & Cool World
Refrigeration Ab, Carrier Commercial Refrigeration, and Hill Phoenix Inc.
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