Transcritical CO2 Market Size Witnesses Robust Growth Rate of CAGR 15.5%, Exceeding US$ 195.8 Billion by 2032

IMARC Group, a leading market research company, has recently releases report titled "Transcritical CO2 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032." The study provides a detailed analysis of the industry, including the global transcritical CO2 market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the Global Transcritical CO2 Market?

The global transcritical CO2 market size reached US$ 52.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 195.8 Billion by 2032, exhibiting a growth rate (CAGR) of 15.5% during 2024-2032.

Request a Sample Report:- https://www.imarcgroup.com/transcritical-co2-market/requestsample

What is Transcritical CO2?

Transcritical CO2 is a state of carbon dioxide that occurs at temperatures and pressures above its critical point. It exhibits both gas-like and liquid-like properties simultaneously, making it a versatile and valuable substance for numerous applications. It offers excellent energy efficiency and reduces greenhouse gas emissions. It assists in extracting valuable compounds from plants, herbs, and botanicals without the use of chemical solvents, ensuring safe and pure end products. It also aids in producing foamed plastics and polymers by creating a cellular structure within the material.

It is used as a refrigerant in transcritical CO2 refrigeration systems compared to traditional refrigerants like hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs) due to their high global warming potential. It is utilized in generating power and helps achieve higher thermal efficiencies compared to traditional steam-based power plants.

Global Transcritical CO2 Market Trends and Drivers:

At present, the growing awareness among the masses about environmental issues, particularly concerning climate change and greenhouse gas emissions represents one of the key factors offering a favorable market outlook. Traditional refrigerants like hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs) contribute to global warming. As a result, stringent regulations and phase-out schedules are being implemented worldwide to reduce the use of these high-global-warming-potential refrigerants. Transcritical CO2, with its low global warming potential and negligible impact on ozone depletion, is used as a sustainable and compliant alternative.

Speak to Analyst:- https://www.imarcgroup.com/request?type=report&id=5806&flag=C

Besides this, transcritical CO2 systems are gaining traction due to their exceptional energy efficiency. These systems can operate at a wide range of temperatures and pressures, making them suitable for diverse applications. The ability of transcritical CO2 to recover waste heat and provide heating and cooling simultaneously further enhances their energy performance, leading to reduced operating costs and carbon emissions. In addition, key market players are developing innovative solutions, such as improved compressor designs, heat exchangers, and control algorithms, to enhance the performance and reliability of transcritical CO2 systems. These developments are making transcritical CO2 systems more accessible and cost-effective for various applications. Moreover, the ability of transcritical CO2 refrigeration systems to efficiently cool and freeze food products while complying with environmental regulations is making them increasingly popular in the retail industry. The growing focus on sustainability and reducing carbon footprints is offering a favorable market outlook.

Apart from this, advancements in transcritical CO2 technology are expanding the applicability and efficiency of transcritical CO2. Manufacturers are investing in research and development (R&D) activities to enhance system performance, leading to broader adoption in supermarkets, food processing, and industrial refrigeration. Additionally, people are becoming more eco-conscious and are inclined to support businesses that prioritize sustainable practices. As a result, there is an increase in the demand for transcritical CO2 refrigeration systems among organizations to align with consumer expectations and promote their eco-friendly initiatives. Furthermore, the rising awareness among the masses about the benefits of transcritical CO2 is bolstering the growth of the market.

Global Transcritical CO2 Market 2024-2032 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.

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 (2018-2023)
• Market Outlook (2024- 2032)
• 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.

Browse More:-

https://www.digitaljournal.com/pr/news/imarc/china-green-building-materials-market-size-worth-us-299-5-billion-by-2028-cagr-10-5-imarc-group

https://www.digitaljournal.com/pr/news/imarc/gcc-smart-homes-market-is-predicted-to-hit-a-cagr-of-13-1-by-2028

https://www.digitaljournal.com/pr/news/imarc/norway-aquaculture-market-size-to-surpass-2-5-million-by-2028-exhibiting-a-cagr-of-5-7-imarc-group

https://www.digitaljournal.com/pr/news/imarc/north-america-electric-scooters-and-motorcycles-market-to-worth-us-1-390-million-by-2028-with-a-striking-26-1-cagr-imarc-group

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.

This release was published on openPR.