At 16.0% CAGR, the Europe Transcritical CO2 Market is Projected to be worth US$ 70,747.37 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe transcritical CO2 market was valued at US$ 25,104.50 million in 2023 and is expected to reach US$ 70,747.37 million by 2030, registering a CAGR of 16.0% from 2023 to 2030. Adverse impact of high global warming potential refrigerants and growing adoption of integrated transcritical CO2 systems are the critical factors attributed to the Europe transcritical CO2 market expansion.        

The adverse impact of high GWP refrigerants on climate change is well-recognized. As a result, international agreements and regulations are being implemented to phase out or restrict the use of such refrigerants. Transcritical CO2 systems offer an alternative with significantly lower GWP, making them an attractive option for businesses looking to comply with these regulations. The need to transition away from high GWP refrigerants creates a market opportunity for transcritical CO2 systems. Supermarkets and convenience stores typically have a significant environmental impact due to their reliance on refrigeration systems to store perishable goods. As sustainability and environmental responsibility have become increasingly important, there is a growing need to reduce the carbon footprint and greenhouse gas emissions associated with these cooling systems. As transcritical CO2 systems help mitigate the environmental impact associated with traditional refrigerants and align with sustainability goals, the demand for sustainable solutions presents an opportunity for transcritical CO2 systems to gain market share.

On the contrary, higher upfront cost of installing transcritical CO2 system hampers the Europe transcritical CO2 market.  

Based on application, the Europe transcritical CO2 market is segmented into ice skating rinks, food processing and storage facilities, heat pumps, supermarkets and convenience stores, and others (hotels, buildings, water treatment plants, etc.). The supermarkets and convenience stores segment held 52.9% share of Europe transcritical CO2 market in 2023, amassing US$ 13,292.47 million. It is projected to garner US$ 39,465.08 million by 2030 to expand at 16.8% CAGR during 2023–2030. 

Based on function, the Europe transcritical CO2 market is segmented into air conditioning, refrigeration, and heating. The refrigeration segment held 62.0% share of Europe transcritical CO2 market in 2023, amassing US$ 15,569.75 million. It is projected to garner US$ 45,857.55 million by 2030 to expand at 16.7% CAGR during 2023–2030.

Based on country, the Europe transcritical CO2 market has been categorized into the Germany, France, Italy, UK, Russia, and the Rest of Europe. Our regional analysis states that the France captured 24.4% share of Europe transcritical CO2 market in 2023. It was assessed at US$ 6,137.86 million in 2023 and is likely to hit US$ 16,109.05 million by 2030, exhibiting a CAGR of 14.8% during the forecast period.      

Key players operating in the Europe transcritical CO2 market are TEKO Gesellschaft fur Kaltetechnik mbH , Baltimore Aircoil Co, BITZER Kuhlmaschinenbau GmbH, Carrier Global Corp, Danfoss AS, Emerson Electric Co, Panasonic Holdings Corp, and Mayekawa Manufacturing Co Ltd, among others.   

• In Jan 2022, EDEKA Beckesepp, a German food retailer company, installed a transcritical CO2 (R744) refrigeration system for Teko GmbH.
• In May 2023, Blackstone and Emerson announced that private equity funds managed by Blackstone completed the previously announced acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at $14.0 billion.

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