New York
City, 31 January 2019: 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. 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.
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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.
Competitive
Landscape and Key Vendors:
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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