New York City, 06 Feb 2020 : 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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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.
About Polaris Market
Research
Polaris Market Research is a global market research
and consulting company. The company specializes in providing exceptional market
intelligence and in-depth business research services for our clientele spread
across different enterprises.
Contact Us:
Polaris Market Research
Phone: 1–646–568–9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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