Transcritical CO2 Systems Markets, 2019 - Global Forecast to 2023: Leading Players are Danfoss, BITZER, Advansor, TEKO, Green & Cool World Refrigeration, and Hillphoenix
DUBLIN, Jan. 28, 2019 /PRNewswire/ --
The "Transcritical CO2 Systems Market by Function (Refrigeration, Heating, Air Conditioning), Application (Supermarkets And Convenience Stores, Heat Pumps, Food Processing & Storage Facilities, Ice Skating Rinks), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The transcritical CO2 systems market is projected to reach USD 61.8 billion by 2023 from USD 27.2 billion in 2018, at a CAGR of 17.9% between 2018 and 2023.
The major driving factors for the transcritical CO2 systems market are low environmental impact of transcritical CO2 systems, phasing out CFC, HCFC, and HFC refrigerants, increasing demand for refrigeration and air-conditioning applications, and lower operating cost of transcritical CO2 refrigeration systems.
Based on function, the refrigeration segment is expected to be the largest
Refrigeration is mostly used in supermarkets and convenience stores. Transcritical CO2 refrigeration has a high safety rating and is non-toxic and non-flammable. Additionally, these systems are used in refrigeration processes due to their high volumetric cooling capacities.
Based on application, supermarkets & convenience stores segment is expected to be the largest application segment
Refrigeration systems account for more than 50% of the total electricity consumption in supermarkets. The use of transcritical CO helps retailers reduce energy consumption by reducing the maintenance cost of refrigeration systems. Transcritical CO2 systems operate at higher pressures than other refrigeration systems. Low Ozone-depletion Potential (ODP) and low Global Warming Potential (GWP) of these systems make them preferable in supermarkets in Europe, Australia, and Japan.
Europe is expected to lead the transcritical CO2 systems market
The transcritical CO2 systems market in Europe is expected to witness significant growth on account of the recent F-Gas regulations/HFC phase-out plan which dictates the reduction of use of HFC refrigerants by almost half by 2025. The region also houses the highest number of end user entities, such as Tesco (UK) and Metro AG (Germany) that have already switched to refrigeration systems based on transcritical CO2 systems.
Leading manufacturers of transcritical CO systems include Danfoss (Denmark), BITZER (Germany), Advansor (Denmark), TEKO GmbH (Germany), Green & Cool World Refrigeration (Sweden), and Hillphoenix, Inc. (US). These market players focus on new product launches, acquisitions, and expansions to maintain a competitive position in the transcritical CO systems market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Transcritical CO2 Systems Market
4.2 Transcritical CO2 Systems Market, By Region
4.3 Europe Transcritical CO2 Systems Market, By Application & Country
4.4 Transcritical CO2 Systems Market, By Application & Region
4.5 Top Countries in Transcritical CO2 Systems Market
5 Market Overview
5.1 Introduction
5.2 Evolution
5.3 Transcritical CO2 System
5.4 Comparison of CO2 With Ammonia and Hydrocarbons
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Low Environmental Impact
5.5.1.2 Phasing Out CFC, HCFC, and HFC Refrigerants
5.5.1.3 Increasing Demand for Refrigeration and Air-Conditioning Applications
5.5.2 Restraints
5.5.2.1 Requirement of Higher Initial Capital Investment
5.5.2.2 Low Demand for Transcritical CO2 Systems
5.5.2.3 Flammability and Toxicity Issues
5.5.3 Opportunities
5.5.3.1 Effects of Global Warming
5.5.3.2 Lower Operating Cost of Transcritical CO2 Refrigerant Systems Along With Enhanced Performance
5.5.4 Challenges
5.5.4.1 Few Companies for the Purification of CO2 Refrigerants
5.5.4.2 Lack of Training and Awareness About Transcritical CO2 Refrigerant Systems Among Hvac Contractors and Technicians
5.6 Macroeconomic Indicators
5.6.1 Annual GDP Growth of Major Economies
5.6.1.1 Cold Storage
5.6.1.2 Construction
5.6.1.3 Manufacturing
5.7 Porter's Five Forces Analysis
6 Transcritical CO2 Systems Market, By Function
6.1 Introduction
6.2 Refrigeration
6.3 Heating
6.4 Air Conditioning
7 Transcritical CO2 Systems Market, By Application
7.1 Introduction
7.2 Supermarkets & Convenience Stores
7.3 Heat Pumps
7.4 Food Processing & Storage Facilities
7.5 Ice Skating Rinks
7.6 Others
8 Regional Analysis
8.1 Introduction
8.2 Europe
8.2.1 Germany
8.2.2 Norway
8.2.3 UK
8.2.4 Denmark
8.2.5 Switzerland
8.2.6 Sweden
8.2.7 Rest of Europe
8.3 Asia Pacific
8.3.1 Japan
8.3.2 China
8.3.3 New Zealand
8.3.4 Indonesia
8.3.5 Australia
8.3.6 Taiwan
8.3.7 Malaysia
8.4 North America
8.4.1 US
8.4.2 Canada
8.4.3 Mexico
8.5 Middle East & Africa
8.5.1 South Africa
8.5.2 Jordan
8.6 South America
8.6.1 Argentina
8.6.2 Chile
8.6.3 Brazil
8.6.4 Colombia
9 Competitive Landscape
9.1 Introduction
9.2 Market Ranking Analysis
9.3 Competitive Situation & Trends
9.3.1 New Product Launches
9.3.2 Expansions
9.3.3 Partnerships & Joint Ventures
9.3.4 Agreements & Contracts
9.3.5 Mergers & Acquisitions
10 Company Profiles
10.1 Advansor
10.2 Teko GmbH
10.3 Carrier Commercial Refrigeration
10.4 Green & Cool World Refrigeration Ab
10.5 Hillphoenix, Inc.
10.6 Danfoss
10.7 BITZER
10.8 Carnot Refrigeration
10.9 SCM Frigo S.P.A.
10.10 Emerson Climate Technologies
10.11 Panasonic Corporation
10.12 Baltimore Aircoil Company, Inc.
10.13 Henry Technologies, Inc.
10.14 Systemes LMP, Inc.
10.15 Mayekawa Mfg. Co., Ltd.
10.16 Shecco Sprl
For more information about this report visit https://www.researchandmarkets.com/research/kw3cgm/transcritical_co2?w=5
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