Industry Background:
Transcritical CO2 systems are the most promising solutions for using natural refrigerants in retail contexts, above all in weathers that are not too hot. In these systems, CO2 is cooled but does not condense at the gas cooler outlet, being above the critical temperature. A booster system is when there are two stages of compression of the same refrigerant, therefore the CO2 discharged by the low-temperature compressors flows, via an intercooler, to the suction port of the medium temperature compressors. It has various properties which comprise low GWP value in comparison to other refrigerants, can be used for low and medium temperature applications. Zero ODP, allows heat rejection, can be used in all environmental surroundings. The usage of transcritical Co2 systems have not any harmful effects on the ozone layer as well as the environment.According to AMA, the market for Transcritical Co2 Systems is expected to register a CAGR of 18.2% during the forecast period to 2025. This growth is primarily driven by Need for Systems with Low Environmental Impact, Phasing Out CFC, HCFC, and HFC Refrigerants and Increasing Demand for Refrigeration and Air-Conditioning Applications.
Globally, a noticeable market trend is evident CO2 Cost of Equipment Decreasing
. The Electrical Components & Equipment sector in the Europe region has been increasing at a strong rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Advansor (Denmark), Teko GmbH (Germany), Carrier Commercial Refrigeration (United States), Green & Cool World Refrigeration Ab (Sweden), Hillphoenix, Inc. (United States), Danfoss (Denmark), BITZER (Germany), Carnot Refrigeration (Germany), Emerson Climate Technologies (United States), Panasonic Corporation (Japan) and Cryogiam S.r.l. (Italy) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 12th February 2019, Cryogiam S.r.l. announced the launch of Co2 Transcritical condensing units and double compressor systems range that will is designed to operate in an ambient temperature of 40°C to decrease footprint while providing easy installation and accessibility with high water resistance to provide auxiliary cooling system.
On 8th October 2018, Recently, AK-PC 782A pack controller has developed specifically for transcritical CO2 refrigeration applications by Danfoss, a Denmark based company. It integrates with the other system components such as valves, sensors, System Manager, and case controllers, using network communication. It offers high-pressure control and control of liquid ejectors and Danfoss gas.
Market Drivers
- Need for Systems with Low Environmental Impact
- Phasing Out CFC, HCFC, and HFC Refrigerants
- Increasing Demand for Refrigeration and Air-Conditioning Applications
Market Trend
- CO2 Cost of Equipment Decreasing
- Increasing Use of Transcritical Co2 Systems in Hydrocarbons Growth
Restraints
- The requirement of Higher Initial Capital Investment
- Low Demand for Transcritical CO2 Systems
Opportunities
Lower Operating Cost of Transcritical CO2 Refrigerant Systems Along With Enhanced Performance
Challenges
Few Companies for the Purification of CO2 Refrigerants and Lack of Training and Awareness about Transcritical CO2 Refrigerant Systems among HVAC Contractors and Technicians
AdvanceMarketAnalytics follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization of the Report:
AMA Research & Media features not only specific market forecasts, but also include significant value-added commentary on:
Market Trends
Technological Trends and Innovations
Regulatory Trends & Policies
Market Maturity Indicators
Market Share Movements
Growth Drivers and Constraints
New Entrants into the Market & Entry/Exit Barriers
Consumer Demographics
Supporting Company Financial and Cash Flow Planning
Open Up New Markets
To Seize Powerful Market Opportunities
Key Decision in Planning and to Further Expand Market Share
Identify Key Business Segments, Market Proposition & Gap Analysis