Press release
Transcritical CO2 Market Report 2023-2028 | Industry Size, Share, Trends and Latest Insights
Transcritical CO2 Market
The global transcritical CO2 market size reached US$ 44.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 117.1 Billion by 2028, exhibiting a growth rate (CAGR) of 16.7% during 2023-2028.
What is Transcritical CO2?
Supercritical carbon dioxide, often referred to as transcritical CO2, denotes a state where CO2 exceeds its critical temperature and pressure. This state showcases favorable flow properties, enhancing heat transfer efficiency. Moreover, it contributes to a reduced environmental impact owing to its natural abundance and low global warming potential. Its notable solubility allows it to dissolve substances that are typically insoluble in the liquid state. This, in turn, facilitates effective heat exchange and enables enhanced heat recovery within industrial processes. In the realm of refrigeration, transcritical CO2 refrigeration systems find extensive use, capitalizing on its advantageous characteristics. Additionally, it serves as a versatile tool for creating nanoparticles with precisely tailored properties, finding diverse applications. Beyond this, its non-reactive nature makes it an ideal cleaning agent for delicate components.
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Global Transcritical CO2 Market Trends and Drivers:
The market is experiencing a positive upswing, propelled by rapid urbanization and the expanding commercial sector, both demanding efficient heating and cooling solutions. The burgeoning food and beverage (F&B) industry, along with the modernization of food retail outlets such as supermarkets and hypermarkets, is further boosting the need for effective refrigeration solutions and driving the adoption of transcritical CO2 systems. Data center operations are on the rise, driving the demand for efficient cooling solutions and presenting a promising market outlook. The utilization of transcritical CO2 in chemical and petrochemical industries for diverse processes is gaining traction globally. Additionally, the pharmaceutical industry is embracing transcritical CO2 due to the growing awareness of its health benefits and its role in removing residual solvents from pharmaceutical products after synthesis. The mild conditions provided by transcritical CO2 prevent thermal degradation of sensitive compounds, ensuring the quality of the final product. The pharmaceutical sector's increasing demand for eco-friendly cold chain solutions is also contributing to a positive market outlook, further supported by governmental incentives and subsidies for environmentally friendly technologies. Consumer awareness of the benefits of eco-friendly products is encouraging industries to adopt transcritical CO2 technologies, aligning with consumer preferences. Ongoing research and innovation in transcritical CO2 systems are enhancing performance, reliability, and cost-effectiveness. Escalating energy costs and a heightened focus on energy efficiency are driving industries to embrace transcritical CO2 solutions, which offer superior heat transfer and energy savings. Furthermore, strict environmental regulations favor sustainable technologies like transcritical CO2, given its low global warming potential and reduced carbon footprint, further stimulating market growth.
Global Transcritical CO2 Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
Baltimore Aircoil Company Inc. (AMSTED Industries Incorporated)
Bitzer SE
Carnot Refrigeration (M&M Refrigeration)
Carrier Global Corporation
Danfoss
Dorin S.p.A.
Emerson Electric Co.
Hill Phoenix Inc. (Dover Corporation)
Mayekawa Mfg. Co. Ltd.
Panasonic Holdings Corporation
SCM Frigo S.p.A. etc.
Ask to Analyst:- https://www.imarcgroup.com/request?type=report&id=5806&flag=C
The report segmented the market on the basis of region, function and application.
Breakup by Function:
Refrigeration
Heating
Air Conditioning
Breakup by Application:
Supermarkets and Convenience Stores
Ice Skating Rinks
Food Processing and Storage Facilities
Heat Pumps
Others
Breakup By Regions:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Contact Us:
IMARC Services Private Limited.
134 N 4th St. Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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