Transcritical CO2 Systems Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Transcritical CO2 Systems market size is expected to be worth around US$ 110.42 billion by 2027, according to a new report by Vision Research Reports.

The global Transcritical CO2 Systems market size was valued at US$ 31.5 billion in 2019 and is anticipated to grow at a CAGR of 16.8% during forecast period 2020 to 2027.

Growth Factors

The market growth is attributed to rising demand for air conditioning and refrigeration applications, along with lower operational costs associated with transcritical CO2 systems.

The market is driven by looming taxation and inexorable F-gases restrictions across the globe. In addition, the system’s low global warming potential, significantly smaller copper piping system, and less refrigerant charge in comparison to HFC systems, along with high energy efficiency in most climates, are anticipated to further stimulate the market growth over the coming years.

Refrigeration systems account for around 50% of the energy consumption of a supermarket according to the U.S. Department of Energy as they use HFCs, which have higher GWPs compared to natural refrigerants. Due to federal, international, and local regulations, HFC-free systems are gaining popularity, which is anticipated to boost the product demand over the next few years.

The required global phase-out of HCFCs, need to manage the lifetime operation of HCFC and CFC based equipment, and rising concerns regarding global warming are boosting the market growth. Moreover, rising demand for CO2 as an alternative on account of its high energy performance and same technical reliability as HFC-134a is anticipated to stimulate the market growth over the forecast period.

Report Highlights

The refrigeration segment held the largest revenue share of 67.2% in 2019 owing to the EU F-gas regulation impacting prices and market availability of HFCs in Europe and the global phase-down of HFCs with the Kigali Amendment coming into effect in 2019. Rising demand for HFC-free technology from food retailers and supermarkets is expected to stimulate segment growth over the forecast period.

Growing environmental awareness, coupled with more stringent building codes and regulations, has surged the demand for natural refrigerants used in heating processes. The heating segment is expected to expand at the fastest CAGR of 19.2% from 2020 to 2027 on account of strong development of new technology with CO2 in application segments, coupled with the trend towards sanitary hot water heat pumps in Europe.

The retail application segment held the largest share of 55.7% in 2019 as transcritical COsystems are gaining market shares in Japan and Europe and are replacing HFC-134a systems because of their higher GWP. In addition, the growing trend of green consumerism has propelled supermarkets to proactively use environmental best practices in order to build their green credentials.

Refrigeration systems account for around 50.01% of the energy consumption of a supermarket according to the U.S. Department of Energy as they use HFCs, which have higher GWPs compared to natural refrigerants. Due to federal, international, and local regulations, HFC-free systems are gaining popularity in the developed nations, which is anticipated to stimulate market growth over the next few years.

Transcritical CO2 heat pumps are expected to expand at the fastest CAGR of 18.7% over the forecast period as they offer high service temperature and limited capacity loss. Most of the CO2 heat pumps are designed for domestic water heating and the market is ruled by Japanese manufacturers, such as Itomic, DENSO, and Panasonic. These companies are entering into the European market and redesigning their products to meet the EU customer and regulatory standards.

Europe accounted for the largest revenue share of 78.3% in 2019 as some of Europe’s biggest retailers including Ahold Delhaize, METRO AG, Carrefour S.A., Sainsbury’s, and Schwarz Group are turning to CO2 systems in order to benefit from the energy savings and comply with the F-gas regulation.

North America is expected to expand at the highest CAGR of 19.2% from 2020 to 2027. The U.S. accounted for a significant share in the North America market in 2019 and is expected to witness exponential growth over the forecast period on account of rising focus on the environmental impacts from the leakage of refrigerants, especially HFCs. The EPA estimates that the average U.S. supermarket is responsible for the leakage of 875 pounds of commercial refrigerant annually. As a result, end-users are actively working towards reducing their carbon footprint, which has prompted recent interest in natural refrigerants.

Key Players

  • Advansor

  • Teko GmbH

  • Carrier Commercial Refrigeration

  • Green & Cool World Refrigeration AB

  • Hillphoenix, Inc.

  • Danfoss

  • Bitzer

  • Carnot Refrigeration

  • SCM Frigo S.P.A.

  • Emerson Climate Technologies

  • Panasonic Corporation

  • Baltimore Aircoil Company, Inc.

  • Henry Technologies, Inc.

  • Strategic Initiatives

  • Systemes LMP, Inc.

  • Mayekawa MFG. Co., Ltd.

Market Segmentation

  • Function Outlook 

    • Refrigeration

    • Heating

    • Air Conditioning

  • Application Outlook

    • Retail

    • Heat Pumps

    • Food Processing and Storage Facilities

    • Ice Skating Rinks

    • Automobiles

    • Others

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • Denmark

      • The U.K.

      • Switzerland

      • Norway

    • Asia Pacific

      • China

      • Japan

      • Pacific

      • Indonesia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • South Africa

The Transcritical CO2 Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Transcritical CO2 Systems market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Transcritical CO2 Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Transcritical CO2 Systems market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Transcritical CO2 Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Transcritical CO2 Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Transcritical CO2 Systems by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Transcritical CO2 Systems market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Transcritical CO2 Systems market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Transcritical CO2 Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Transcritical CO2 Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Transcritical CO2 Systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Transcritical CO2 Systems market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Transcritical CO2 Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Transcritical CO2 Systems market. These factors have benefited the growth of the global market for Transcritical CO2 Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Transcritical CO2 Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Transcritical CO2 Systems are as follows:

  • Historic Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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