New York, December 21, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Transcritical Co2 Market – Growth, Trend, and Weather (2020 -2025)” – https://www.reportlinker.com / p05999342 /? utm_source = GNW
On the flipside, the main constraints, which are expected to hinder market growth, are a lack of awareness about transcritical co2 systems and unfavorable conditions arising as a result of the COVID-19 revolution.
– Growing demand for transcritical co2 in ice skating rink is expected to provide various beneficial opportunities for market growth.
– By the way, it is expected that supermarkets & convenience store segment will dominate the market due to the increase in transcritical co2 usage for cooling and air-conditioning purposes.
– The European region took control of the global transcritical co2 market with the largest consumption from countries such as the United Kingdom, Germany and France.
Key market trends
Increased demand from premium markets and utilities
– Transcritical co2, also known as TC co2, uses carbon dioxide for heating and cooling purposes, as it is toxic and non-flammable in nature. Transcritical co2 has a low critical temperature of 31.1 degrees Celsius.
– The demand for transcritical co2 is increasing in supermarkets and convenience stores as it helps retailers to reduce the maintenance costs of the cooling system and also helps in cooling. reducing energy consumption, thus saving money as cooling systems make up over 50% of total electricity consumption in supermarkets.
– Transcritcal co2 has low ozone depleting potential (ODP) and low global warming potential (GWP), as the transcritical co2 demand is increasing in supermarkets and resource stores worldwide and as that, leads its market.
– The global retail industry is expected to grow at a CAGR of over 5% during the forecast period and is estimated to reach USD 31,880.8 billion by 2023. This is likely to create opportunities enough for transcritical co2, which would stimulate its market through the forecast. time.
– Due to the above factors for transcritical co2, its market is expected to grow rapidly over the expected period.
Europe to control the market
– The European region is expected to gain control of the market for transcritical co2 during the expected period. In countries such as the United Kingdom, Germany, and France, as a result of an increase in the use of transcritical co2 in supermarkets & convenience stores and food processing & storage facilities for refrigeration and air-conditioning applications, the -request for transcritical co2 has been on the rise in the sector. .
– The low operating cost of transcritical co2 systems and the low environmental impact of these systems due to their non-toxic and non-flammable dominate the transcritical co2 market in the sector.
– In addition, strict government regulations have been implemented on the use of chlorofluorocarbons (CFCs) and greenhouse gases, which are expected to drive the transcritical market of co2 in the region. The recent F-gas plan / HFC emission plan in Europe that reduces hydrofluorocarbon (HFC) utilization in near-half cooling application by 2025 is expected to further boost the transcritical co2 market .
– The European aircraft engine market is expected to grow at a CAGR of over 4% in the forecast period. This is likely to provide beneficial opportunities for the transcritical co2 market to grow in the forecast period.
– Some of the leading companies operating in the European region – Carrier., Danfoss, and ADVANSOR.
– The factors cited, along with government support, are contributing to the growing demand for transcritical co2 over the expected period.
Competitive Landscape
The co2 transcritical market is highly fragmented with major players accounting for a small share of the market. Some of the leading companies in the market include Carrier, ADVANSOR, Danfoss, BITZER, and Carnot Refrigeration.
Reasons to purchase this report:
– The market estimate (ME) page in Excel format
– 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05999342/?utm_source=GNW
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