The market for Transcritical Co2 is expected to grow at a CAGR of over 18% during the forecast period. Major factors driving the market studied are increasing demand from super markets & convenience stores segment and rising demand from food processing & storage facilities segment. On the flipside, lack of awareness about transcritical co2 systems and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
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– Growing demand for transcritical co2 in ice skating rinks is expected to offer various lucrative opportunities for the growth of market.
– By application, super markets & convenience stores segment is expected to dominate the market owing to the increase in the usage of transcritical co2 for refrigeration and air conditioning purposes.
– Europe region dominated the transcritical co2 market across the globe with the largest consumption from countries such as United Kingdom, Germany, and France.
Key Market Trends
Increasing Demand from Super Markets and Convenience Stores
– Transcritical co2, also known as TC co2, uses carbon dioxide for heating and refrigeration purposes, since it is non-toxic and non-flammable in nature. Transcritical co2 has low critical temperature of 31.1 degree Celsius.
– The demand for transcritical co2 is increasing in super markets and convenience stores as it helps the retailers to reduce the maintenance cost of the refrigerants system and also help to reduce energy consumption, thus saving the money as refrigeration systems account for more than 50% of the total electricity consumption in supermarkets.
– Transcritcal co2 has low ozone depletion potential (ODP) and low global warming potential (GWP), owing to which the demand transcritical co2 is increasing in supermarkets and convenience stores globally and thus, propelling its market.
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