Europe Transcritical CO2 Market Forecast to 2030

Europe Transcritical CO2 Market Forecast to 2030

Europe Transcritical CO2 Market Forecast to 2030 – Regional Analysis – By Application (Ice Skating Rinks, Food Processing & Storage Facilities, Heat Pumps, Supermarkets & Convenience Stores, and Others) and Function (Air Conditioning, Refrigeration, and Heating)

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Description

The Europe transcritical CO2 market is expected to grow from US$ 25,104.50 million in 2023 to US$ 70,747.37 million by 2030. It is estimated to grow at a CAGR of 16.0% from 2023 to 2030.

Adoption of Transcritical CO2 Systems in Supermarkets and Convenience Stores Fuels the Europe Transcritical CO2 Market

Supermarkets and convenience stores often face consumer scrutiny regarding their environmental impact and sustainability practices. Adopting transcritical CO2 systems allows retailers to showcase their commitment to sustainability and environmental responsibility, improving their brand image and attracting eco-conscious consumers. Consumer demand for environmentally friendly products and services has been increasing, and retailers that embrace transcritical CO2 systems can differentiate themselves in the market and gain a competitive advantage. Moreover, transcritical CO2 systems offer operational flexibility and adaptability to varying ambient conditions. They can effectively operate in both subcritical and transcritical modes, allowing for optimal performance in different climates. The transcritical CO2 system design can be tailored to meet the specific needs of supermarkets and convenience stores, such as different refrigeration loads, store layouts, and product display requirements. The flexibility and customization options of transcritical CO2 systems make them suitable for these retail environments. Thus, all such advantages of transcritical CO2 systems are driving the market further.

Europe Transcritical CO2 Market Overview

The transcritical CO2 system market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In Europe, transcritical CO2 systems have gained a lot of attention due to their energy efficiency and environmental benefits. These systems use carbon dioxide as the refrigerant instead of the conventional hydrofluorocarbon (HFC) refrigerants with a high potential for global warming. It can be used for transport refrigeration, industrial refrigeration, heat pumps, supermarkets, convenience stores, and other commercial and industrial refrigeration applications. The transcritical CO2 system has a lower critical temperature than conventional refrigerants. Also, it is not toxic, flammable, and chlorinated. These systems have a negligible potential for ozone depletion, negligible global warming, and low leak rates.

In 2022, the European Commission proposed two new Regulations to strictly control the use of fluorinated greenhouse gases (F-gases) and ozone-depleting substances (ODS). The implementation of these measures would be a major step toward controlling the increase in regional temperatures in accordance with the Paris Agreement. The use of F-gas will also help Europe reduce greenhouse emissions by at least 55% by 2030 to achieve climate neutrality by 2050. By 2050, the combined effects of both ideas might reduce greenhouse gas emissions in the EU by 490 Mt (CO2 equivalent). Due to the F-Gas laws and HFC phase-out plan, the transcritical CO2 system market in Europe may have considerable growth. Additionally, the region has the greatest number of end-users organizations, including Tesco and Metro AG, that switched to refrigeration systems based on transcritical CO2 systems.

The effect of the COVID-19 pandemic, including the lack of truck drivers, border closures, and quarantine requirements, disrupted the supply chain in Europe. Thus, companies could not maintain product’s shelf life, and hence the focus shifted to implementing cold storage in the system. According to the European Cold Storage & Logistics Association (ECSLA), Europe has thousands of cold storage units with a capacity of more than 60,000 m3 of commodities cold storage throughout Europe. In Europe, ECSLA manages the current cold storage capacity and its expansion. Thus, the rising number of cold storages increases the demand for transcritical CO2 systems, which will boost the market growth in the coming years.

Europe Transcritical CO2 Market Revenue and Forecast to 2030 (US$ Million)

Europe Transcritical CO2 Market Segmentation

The Europe transcritical CO2 market is segmented into application, function, and country.

Based on application, the Europe transcritical CO2 market is segmented into ice skating rinks, food processing & storage facilities, heat pumps, supermarkets & convenience stores, and others. The supermarkets and convenience stores segment held the largest share of the Europe transcritical CO2 market in 2023.

Based on function, the Europe transcritical CO2 market is segmented into air conditioning, refrigeration, and heating. The refrigeration segment held the largest share of the Europe transcritical CO2 market in 2023.

Based on country, the Europe transcritical CO2 market is segmented int o the Germany, France, Italy, the UK, Russia, and the Rest of Europe. France dominated the Europe transcritical CO2 market in 2023.

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 are some of the leading companies operating in the Europe transcritical CO2 market.

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At 16.0% CAGR, the Europe Transcritical CO2 Market is Speculated to be worth US$ 70,747.37 Million by 2030, says the research team

According to the research team’ 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.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe transcritical CO2 market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Europe transcritical CO2 market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 The Research Team Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Transcritical CO2 Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Transcritical CO2 Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Sustainable Cooling and Refrigeration Solutions
5.1.2 Adoption of Transcritical CO2 Systems in Supermarkets and Convenience Stores
5.2 Market Restraints
5.2.1 Higher Upfront Cost of Installing Transcritical CO2 System
5.3 Market Opportunities
5.3.1 Adverse Impact of High Global Warming Potential Refrigerants
5.4 Future Trends
5.4.1 Growing Adoption of Integrated Transcritical CO2 Systems
5.5 Europe Impact Analysis of Drivers and Restraints
6. Transcritical CO2 Market – Europe market Analysis
6.1 Transcritical CO2 Market Overview
6.2 Transcritical CO2 Market – Revenue and Forecast to 2030 (US$ Million)
7. Europe Transcritical CO2 Market Analysis – By Application
7.1 Overview
7.2 Europe Transcritical CO2 Market, By Application (2022 and 2030)
7.3 Ice Skating Rinks
7.3.1 Overview
7.3.2 Ice Skating Rinks: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
7.4 Food Processing & Storage Facilities
7.4.1 Overview
7.4.2 Food Processing & Storage Facilities: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
7.5 Heat Pumps
7.5.1 Overview
7.5.2 Heat Pumps: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
7.6 Supermarkets & Convenience Stores
7.6.1 Overview
7.6.2 Supermarkets & Convenience Stores: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
8. Europe Transcritical CO2 Market Analysis – By Function
8.1 Overview
8.2 Europe Transcritical CO2 Market, By Function (2022 and 2030)
8.3 Air Conditioning
8.3.1 Overview
8.3.2 Air Conditioning: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
8.4 Refrigeration
8.4.1 Overview
8.4.2 Refrigeration: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
8.5 Heating
8.5.1 Overview
8.5.2 Heating: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
9. Europe Transcritical CO2 Market– Country Analysis
9.1 Overview
9.1.1 Europe: Transcritical CO2 Market, by Key Country
9.1.1.1 Germany: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.1.1 Germany: Transcritical CO2 Market, By Application
9.1.1.1.2 Germany: Transcritical CO2 Market, By Function Type
9.1.1.2 France: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 France: Transcritical CO2 Market, By Application
9.1.1.2.2 France: Transcritical CO2 Market, By Function Type
9.1.1.3 Italy: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.1 Italy: Transcritical CO2 Market, By Application
9.1.1.3.2 Italy: Transcritical CO2 Market, By Function Type
9.1.1.4 UK: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.1 UK: Transcritical CO2 Market, By Application
9.1.1.4.2 UK: Transcritical CO2 Market, By Function Type
9.1.1.5 Russia: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.5.1 Russia: Transcritical CO2 Market, By Application
9.1.1.5.2 Russia: Transcritical CO2 Market, By Function Type
9.1.1.6 Rest of Europe: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
9.1.1.6.1 Rest of Europe: Transcritical CO2 Market, By Application
9.1.1.6.2 Rest of Europe: Transcritical CO2 Market, By Function Type
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 TEKO Gesellschaft fur Kaltetechnik mbH
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Baltimore Aircoil Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 BITZER Kuhlmaschinenbau GmbH
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Carrier Global Corp
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Danfoss AS
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Emerson Electric Co
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Panasonic Holdings Corp
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Mayekawa Manufacturing Co Ltd
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
12.1 About Research Team
12.2 Word Index

LIST OF TABLES

Table 1. Transcritical CO2 Market – Revenue and Forecast to 2030 (US$ Million)
Table 2. Germany: Transcritical CO2 Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 3. Germany: Transcritical CO2 Market, By Function Type – Revenue and Forecast to 2030 (US$ Million)
Table 4. France: Transcritical CO2 Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 5. France: Transcritical CO2 Market, By Function Type – Revenue and Forecast to 2030 (US$ Million)
Table 6. Italy: Transcritical CO2 Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 7. Italy: Transcritical CO2 Market, By Function Type – Revenue and Forecast to 2030 (US$ Million)
Table 8. UK: Transcritical CO2 Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 9. UK: Transcritical CO2 Market, By Function Type – Revenue and Forecast to 2030 (US$ Million)
Table 10. Russia: Transcritical CO2 Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 11. Russia: Transcritical CO2 Market, By Function Type – Revenue and Forecast to 2030 (US$ Million)
Table 12. Rest of Europe: Transcritical CO2 Market, By Application – Revenue and Forecast to 2030 (US$ Million)
Table 13. Rest of Europe: Transcritical CO2 Market, By Function Type – Revenue and Forecast to 2030 (US$ Million)
Table 14. List of Abbreviation

LIST OF FIGURES

Figure 1. Europe Transcritical CO2 Market Segmentation
Figure 2. Europe Transcritical CO2 Market Segmentation – By Country
Figure 3. Europe Transcritical CO2 Market Overview
Figure 4. Europe Transcritical CO2 Market, by Application
Figure 5. Europe Transcritical CO2 Market, by Function
Figure 6. Europe Transcritical CO2 Market, by Country
Figure 7. Europe PEST Analysis
Figure 8. Expert Opinion
Figure 9. Europe Transcritical CO2 Market Impact Analysis of Drivers and Restraints
Figure 10. Transcritical CO2 Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Europe Transcritical CO2 Market Revenue Share, By Application (2022 and 2030)
Figure 12. Ice Skating Rinks: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 13. Food Processing & Storage Facilities: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 14. Heat Pumps: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 15. Supermarkets & Convenience Stores: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 16. Others: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 17. Europe Transcritical CO2 Market Revenue Share, By Function (2022 and 2030)
Figure 18. Air Conditioning: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 19. Refrigeration: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 20. Heating: Europe Transcritical CO2 Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 21. Europe: Transcritical CO2 Market, by Key Country – Revenue (2022) (US$ Million)
Figure 22. Europe: Transcritical CO2 Revenue Share, by Key Country (2022 and 2030)
Figure 23. Germany: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
Figure 24. France: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
Figure 25. Italy: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
Figure 26. UK: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
Figure 27. Russia: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)
Figure 28. Rest of Europe: Transcritical CO2 Market– Revenue and Forecast to 2030 (US$ Million)

The List of Companies – Europe Transcritical CO2 Market
o Baltimore Aircoil Co
o BITZER Kuhlmaschinenbau GmbH
o Carrier Global Corp
o Danfoss AS
o Emerson Electric Co
o Mayekawa Manufacturing Co Ltd
o Panasonic Holdings Corp
o TEKO Gesellschaft für Kältetechnik mbH

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