HOME Top Market Reports Transcritical CO2 Market by Application (Supermarkets, Heat Pumps, Food Processing & Storage Facilities, Ice Skating Rinks), by Geography (Europe, North America, Asia-Pacific) - Global Forecast to 2020

Transcritical CO2 Market by Application (Supermarkets, Heat Pumps, Food Processing & Storage Facilities, Ice Skating Rinks), by Geography (Europe, North America, Asia-Pacific) - Global Forecast to 2020

By: marketsandmarkets.com
Publishing Date: September 2015
Report Code: CH 3734

 

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Carbon dioxide (CO2) is a colorless and odorless gas, which is comparatively heavier than air. It is considered as a natural refrigerant for various applications due to its zero ozone depletion potential (ODP) and a global warming potential (GWP) of one. Carbon dioxide has an A1 safety classification, which highlights the fact that it has low toxicity and is non-flammable. CO2 can be used in two different ways for the process of refrigeration. The first is the cascade systems that are seen more often in North America, and the second way is transcritical CO2 systems that have now occupied a huge market in Europe. CO2 is gaining popularity in the last few years owing to its environmental-friendly properties. As a refrigerant, CO2 typically operates at a higher pressure than fluorocarbons and other refrigerants. CO2 has proved its efficiency as a refrigerant with low operating and maintenance costs in many countries, such as Denmark, Germany and the U.K.

The Global Transcritical CO2 market was valued at USD 4.90 Billion in 2014, which is expected to reach USD 30.70 Billion by 2020, at a CAGR of 40.2% during the forecast period from 2015 to 2020. This market research study provides a comprehensive review of the major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in this market. It is further segmented for major geographic regions, such as North America, Europe, Asia-Pacific, and RoW. Major countries with market volumes and shares are covered for each region. Competitive scenario and market share of the top players of this market have also been analyzed in detail. The top players of the industry are also profiled in detail, with their recent developments and other strategic industry activities. This market has also been segmented on the basis of application. The major applications for the transcritical CO2 market are supermarkets, heat pumps, food processing & storage facility, ice skating rinks, and others. All these applications have been discussed and analyzed in the report as well. The market share for the major market participants has also been provided in this report.

Leading players of this industry, with their recent developments and other strategic industry activities, have also been profiled in this report. The key participants in the global market include Hill Phoenix Inc. (U.S.), Carrier Commercial Refrigeration (U.S.), Green & Cool World Refrigeration AB (Sweden), and Carnot Refrigeration Inc. (Canada).

Scope of the Report: This research report categorizes the global transcritical CO2 market on the basis of application and region; while forecasting the respective volumes, market shares, and trends in each of the submarkets.

On the Basis of Application: This market is segmented on the basis of industry application as supermarkets, heat pumps, food processing & storage facility, ice skating rinks and others. Each application is further described in detail in the report with its respective volume and market share.

On the Basis of Region: This market is also segmented on the basis of region. The leading regions of this market are Europe, Asia-Pacific, North America, and RoW.

Customization Options:

The following customization options are available for the report:

  • Company information
  • Detailed analysis and profiling of additional market players (Up to 3)
  • Listing the regulatory issues related to the market for different regions, such as North America, Europe, and so on
  • Various components used in the transcritical CO2 systems and comparative analysis of the low-cost sourcing locations
  • Detailed analysis of cascade CO2 refrigeration systems and their current market
  • Impact of technology development on the production and usage of transcritical CO2 systems

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Introduction
    1.3 History
    1.4 Transcritical CO2 System
    1.5 Components of Transcritical CO2 System
    1.6 Global Transcritical CO2 Market - Segmentation & Coverage
    1.7 Stakeholders

2 Research Methodology
    2.1 Introduction
    2.2 Integrated Ecosystem of the Transcritical CO2 Market
    2.3 Arriving at the Global Transcritical CO2 Market Size
           2.3.1 Top Down Approach
           2.3.2 Demand Side Approach
           2.3.3 Supply Side Approach
    2.4 Key Industry Insights
    2.5 Key Data From Secondary Sources
    2.6 Key Data From Primary Sources
    2.7 Assumptions

3 Executive Summary
    3.1 Key Market Insights

4 Market Overview
    4.1 Introduction
    4.2 Natural Refrigerant Market, By Type
    4.3 Natural Refrigerants: Comparison With Ammonia and Hydrocarbon
    4.4 Natural Refrigerant Market, By Region
    4.5 Transcritical CO2 Market, By Application
    4.6 Transcritical CO2 Market- Economics
    4.7 Case Study By Hill Phoenix: Capex for Transcritical CO2 Systems
    4.6 Market Drivers & Restraints

5 Industry Trends
    5.1 Market Structure & Value Chain Analysis
    5.2 Porter’s Five Forces Analysis

6 Component Analysis
    6.1 Maintenance Frequency & Equipment Replacement for Critical Components
    6.2 Important Physical Characteristics of Some Common Equipments 
    6.3 Average Cop (Coefficients of Performance) in Cooling, Heating and Combined

7 Transcritical CO2 Systems Market, By Application
    7.1 Introduction
    7.2 Supermarkets
           7.2.1 Europe
           7.2.2 North America
           7.2.3 Asia-Pacific
    7.3 Heat Pump
           7.3.1 Europe
           7.3.2 North America
           7.3.3 Asia-Pacific
    7.4 Food Processing & Storage Facility
           7.4.1 Europe
           7.4.2 North America
           7.4.3 Asia-Pacific
    7.5 Heat Pump
           7.5.1 Europe
           7.5.2 North America
    7.6 Others
           7.6.1 Europe
           7.6.2 North America
           7.6.3 Asia-Pacific
    7.7 Recent Successful Case Studies

8 Transcritical CO2 Systems Market, By Region
    8.1 Introduction
    8.2 Europe
           8.2.1 By Application
           8.2.2 By Country
           8.2.3 Denmark
           8.2.4 U.K.
           8.2.5 Germany
           8.2.6 Rest of Europe
    8.3 Asia-Pacific
           8.3.1 By Application
           8.3.2 By Country
           8.3.3 Japan
           8.3.4 China
           8.3.5 India
           8.3.6 Rest of Asia-Pacific
    8.4 North America
           8.4.1 By Application
           8.4.2 By Country
           8.4.3 Canada
           8.4.4 U.S.
           8.4.5 Rest of North America
    8.5 Rest of World (RoW)
           8.5.1 By Application

9 Competitive Landscape
    9.1 Company Developments
    9.2 Transcritical CO2 System Timeline (1990-2020)
    9.3 Company Share Analysis
    9.4 Strategic Implementation of Transcritical CO2 Systems
           9.4.1 Hotels
           9.4.2 Supermarkets
    9.5 Key Players in Transcritical CO2 Market

10 Competitive Landscape
     10.1 Spotlight: North America Competitive Landscape
     10.2 Hill Phoenix Inc.
             10.2.1 Overview
             10.2.2 Product Portfolio
             10.2.3 Recent Developments
             10.2.4 SWOT Analysis
             10.2.5 MnM View
     10.3 Carrier Commercial Refrigeration
             10.3.1 Overview
             10.3.2 Product Portfolio
             10.3.3 Recent Developments
             10.3.4 SWOT Analysis
             10.3.5 MnM View
     10.4 Green & Cool World Refrigeration Ab
             10.4.1 Overview
             10.4.2 Product Portfolio
             10.4.3 Recent Developments
             10.4.4 SWOT Analysis
             10.4.5 MnM View
     10.5 Carnot Refrigeration Inc.
             10.5.1 Overview
             10.5.2 Product Portfolio
             10.5.3 Recent Developments
             10.5.4 SWOT Analysis
             10.5.5 MnM View
     10.6 Emerson Climate Technologies 
             10.6.1 Overview
             10.6.2 Product Portfolio
             10.6.3 Recent Developments
             10.6.4 SWOT Analysis
             10.6.5 MnM View
     10.7 SCM Frigo SPA
             10.7.1 Overview
             10.7.2 Product Portfolio
             10.7.3 Recent Developments
             10.7.4 MnM View
     10.8 Bitzer Kühlmaschinenbau GmbH 
             10.8.1 Overview
             10.8.2 Product Portfolio
             10.8.3 Recent Developments
             10.8.4 MnM View
     10.9 Danfoss GmbH
             10.9.1 Overview
             10.9.2 Product Portfolio
             10.9.3 Recent Developments
             10.9.4 MnM View
     10.10 Advansor A/S
             10.10.1 Overview
             10.10.2 Product Portfolio
             10.10.3 Recent Developments
             10.10.4 MnM View
     10.11 Baltimore Aircoil Company, Inc. 
             10.11.1 Overview
             10.11.2 Product Portfolio
             10.11.3 Recent Developments
             10.11.4 MnM View
     10.12 Henry Technologies, Inc. 
             10.12.1 Overview
             10.12.2 Product Portfolio
             10.12.3 Recent Developments
             10.12.4 MnM View
     10.13 Systems LMP, Inc.
             10.13.1 Overview
             10.13.2 Product Portfolio
             10.13.3 Recent Developments
             10.13.4 MnM View
     10.14 Mayekawa MSG. Co., Ltd.
             10.14.1 Overview
             10.14.2 Product Portfolio
             10.14.3 Recent Developments
             10.14.4 MnM View
     10.15 Shecco SPRL
             10.15.1 Overview
             10.15.2 Product Portfolio
             10.15.3 Recent Developments
             10.15.4 MnM View

11 Appendix
     11.1 Customization Options
             11.1.1 Technical Analysis
             11.1.2 Low-Cost Sourcing Locations
             11.1.3 Regulatory Framework
             11.1.4 Impact Analysis
             11.1.5 Trade Analysis
     11.2 Introducing RT: Real Time Market Intelligence
     11.3 Related Reports


List of Tables (79 Tables)

Table 1 Case Study By Hill Phoenix: Capex for Transcritical CO2 Systems
Table 2 Transcritical CO2 Market Size, By Application, 2013-2020 (No. of Installations)
Table 3 Transcritical CO2 Market Size, By Application, 2013-2020(USD Million)
Table 4 Transcritical CO2 Market in Supermarket, By Region, 2013-2020 (No. of Installations)
Table 5 Transcritical CO2 Market in Supermarket, By Region, 2013-2020 (USD Million)
Table 6 Europe Transcritical CO2 Market in Supermarket, By Country, 2013-2020 (No. of Installations)
Table 7 Market in Supermarket, By Country, 2013-2020 (USD Million)
Table 8 North America Transcritical CO2 Market in Supermarket, By Country, 2013-2020 (No. of Installations)
Table 9 Market in Supermarket, By Country, 2013-2020 (USD Million)
Table 10 Asia-Pacific Transcritical CO2 Market in Supermarket, By Country, 2013-2020 (No. of Installations)
Table 11 Market in Supermarket, By Country, 2013-2020 (USD Million)
Table 12 Market in Heat Pump, By Region, 2013-2020 (No. of Installations)
Table 13 Market in Heat Pump, By Region, 2013-2020 (USD Million)
Table 14 Europe Market in Heat Pump, By Country, 2013-2020 (No. of Installations)
Table 15 Market in Heat Pump, By Country, 2013-2020 (USD Million)
Table 16 North America Market in Heat Pump, By Country, 2013-2020 (No. of Installations)
Table 17 Market in Heat Pump, By Country, 2013-2020 (USD Million)
Table 18 Asia-Pacific Market in Heat Pump, By Country, 2013-2020 (No. of Installations)
Table 19 Market in Heat Pump, By Country, 2013-2020 (USD Million)
Table 20 Market in Food Processing & Storage Facility, By Region, 2013-2020 (No. of Installations)
Table 21 Market in Food Processing & Storage Facility, By Region, 2013-2020 (USD Million)
Table 22 Europe Transcritical CO2 Market in Food Processing & Storage Facility, By Country, 2013-2020 (No. of Installations)
Table 23 Market in Food Processing & Storage Facility, By Country, 2013-2020 (USD Million)
Table 24 North America Transcritical CO2 Market in Food Processing & Storage Facility, By Country, 2013-2020 (No. of Installations)
Table 25 Market in Food Processing & Storage Facility, By Country, 2013-2020 (USD Million)
Table 26 Asia-Pacific Transcritical CO2 Market in Food Processing & Storage Facility, By Country, 2013-2020 (No. of Installations)
Table 27 Market in Food Processing & Storage Facility, By Country, 2013-2020 (USD Million)
Table 28 Market in Ice Skating Rinks, By Region, 2013-2020 (No. of Installations)
Table 29 Market in Ice Skating Rinks, By Region, 2013-2020 (USD Million)
Table 30 Europe Market in Ice Skating Rinks, By Country, 2013-2020 (No. of Installations)
Table 31 Market in Ice Skating Rinks, By Country, 2013-2020 (USD Million)
Table 32 North America Market in Ice Skating Rinks, By Country, 2013-2020 (No. of Installations)
Table 33 North America Market in Ice Skating Rinks, By Country, 2013-2020 (USD Million)
Table 34 Market in Others, By Region, 2013-2020 (No. of Installations)
Table 35 Market in Others, By Region, 2013-2020 (USD Million)
Table 36 Europe Transcritical CO2 Market in Others, By Country, 2013-2020 (No. of Installations)
Table 37 Market in Others, By Country, 2013-2020 (USD Million)
Table 38 North America Transcritical CO2 Market in Others, By Country, 2013-2020 (No. of Installations)
Table 39 Market in Others, By Country, 2013-2020 (USD Million)
Table 40 Asia-Pacific Transcritical CO2 Market in Others, By Country, 2013-2020 (No. of Installations)
Table 41 Market in Others, By Country, 2013-2020 (USD Million)
Table 42 Market Size, By Region, 2013-2020 (No. of Installations)
Table 43 Market Size, By Region, 2013-2020 (USD Million)
Table 44 Europe Market Size, By Application, 2013-2020 (No. of Installations)
Table 45 Market Size, By Application, 2013-2020 (USD Million)
Table 46 Europe Market Size, By Application, 2013-2020 (No. of Installations)
Table 47 Market Size, By Application, 2013-2020 (USD Million)
Table 48 Denmark Market Size, By Application, 2013-2020 (No. of Installations)
Table 49 Market Size, By Application, 2013-2020 (USD Million)
Table 50 U.K. Market Size, By Application, 2013-2020 (No. of Installations)
Table 51 Market Size, By Application, 2013-2020 (USD Million)Size, By Application, 2013-2020 (No. of Installations)
Table 52 Germany Market Size, By Application, 2013-2020 (No. of Installations)
Table 53 Market Size, By Application, 2013-2020 (USD Million)
Table 54 Rest of Europe Transcritical CO2 Market Size, By Application, 2013-2020 (No. of Installations)
Table 55 Market Size, By Application, 2013-2020 (USD Million)
Table 56 Asia-Pacific Transcritical CO2 Market Size, By Application, 2013-2020 (No. of Installations)
Table 57 Market Size, By Application, 2013-2020 (USD Million)
Table 58 Asia-Pacific Market Size, By Country, 2013-2020 (No. of Installations)
Table 59 Market Size, By Country, 2013-2020 (USD Million)
Table 60 Japan Market Size, By Application, 2013-2020 (No. of Installations)
Table 61 Market Size, By Application, 2013-2020 (USD Million)
Table 62 China Market Size, By Application, 2013-2020 (No. of Installations)
Table 63 Market Size, By Application, 2013-2020 (USD Million)
Table 64 India Market Size, By Application, 2013-2020 (No. of Installations)
Table 65 Market Size, By Application, 2013-2020 (USD Million)
Table 66 Rest of Asia-Pacific Transcritical CO2 Market Size, By Application, 2013-2020 (No. of Installations)
Table 67 Market Size, By Application, 2013-2020 (USD Million)
Table 68 North America Transcritical CO2 Market Size, By Application, 2013-2020 (No. of Installations)
Table 69 Market Size, By Application, 2013-2020 (USD Million)
Table 70 North America Transcritical CO2 Market Size, By Country, 2013-2020 (No. of Installations)
Table 71 Market Size, By Country, 2013-2020 (USD Million)
Table 72 Canada Market Size, By Application, 2013-2020 (No. of Installations)
Table 73 Market Size, By Application, 2013-2020 (USD Million)
Table 74 U.S. Market Size, By Application, 2013-2020 (No. of Installations)
Table 75 Market Size, By Application, 2013-2020 (USD Million)
Table 76 Rest of North America Transcritical CO2 Market Size, By Application, 2013-2020 (No. of Installations)
Table 77 Market Size, By Application, 2013-2020 (USD Million)
Table 78 RoW Transcritical CO2 Market Size, By Application, 2013-2020 (No. of Installations)
Table 79 Market Size, By Application, 2013-2020 (USD Million)


List of Figures (35 Figures)

Figure 1 Transcritical CO2 Market: Evolution
Figure 2 Market Segmentation & Coverage
Figure 3 Integrated Ecosystem of the Transcritical CO2 Market
Figure 4 Arriving at the Global Transcritical CO2 Market Size
Figure 5 Market Size Estimation: Top Down Approach
Figure 6 Market Size Estimation: Demand Side Approach
Figure 7 Market Size Estimation: Supply Side Approach
Figure 8 Key Industry Insights
Figure 9 Global Transcritical CO2 Market Snapshot
Figure 10 North America to Witness Highest Growth in the Transcritical CO2 Market
Figure 11 Denmark to Emerge as A Lucrative Market in the Forecast Period
Figure 12 Transcritical CO2 Market has High Growth Potential in the Emerging Economies
Figure 13 Natural Refrigerant Market Share, 2015 & 2020 (%)
Figure 14 Natural Refrigerant Market Share, By Geography, 2014 (USD Million)
Figure 15 Natural Refrigerant Market Share, By Geography, 2014 (Kt)
Figure 16 Natural Refrigerant Market Share, By Application, 2014 (USD Million)
Figure 17 Natural Refrigerant Market Growth Analysis, By Application, 2015-2020 (%)
Figure 18 Supermarkets & Heat Pump Segments are Expected to Drive the Global Transcritical CO2 Market
Figure 19 Market Comparison: Transcritical CO2 in Supermarkets vs Global Transcritical CO2 Systems, By Geography, 2014 (No. of Installations)
Figure 20 Transcritical CO2 Regional Market Share, By Volume (2015) & CAGR (2015-2020)
Figure 21 Average Price of Transcritical CO2 Systems in Different Applications in North America
Figure 22 Transcritical CO2 Application Market Share, 2015 & 2020 (%)
Figure 23 Transcritical CO2 Market, By Application, 2015-2020 (No. of Installations)
Figure 24 Transcritical CO2 Market in Supermarket, By Region, 2015 & 2020 (No. of Installations)
Figure 25 Transcritical CO2 Market in Heat Pump, By Region, 2015 & 2020 (No. of Installations)
Figure 26 Transcritical CO2 Market in Food Processing & Storage Facility, By Region, 2015 & 2020 (No. of Installations)
Figure 27 Transcritical CO2 Market in Ice Skating Rinks, By Region, 2015 & 2020 (No. of Installations)
Figure 28 Transcritical CO2 Market in Others, By Region, 2015 & 2020 (No. of Installations)
Figure 29 Transcritical CO2 Market: Growth Analysis, By Region, 2015-2020 (No. of Installations)
Figure 30 Europe Transcritical CO2 Market Growth Analysis, By Country, 2015-2020 (No. of Installations)
Figure 31 Supermarket Application to Drive Europe’s Largest Transcritical CO2 Market - Denmark
Figure 32 Asia-Pacific Transcritical CO2 Market, Growth Analysis, By Country, 2015-2020 (No. of Installations)
Figure 33 Supermarket and Heat Pump Applications Dominate Japan’s Transcritical CO2 Market
Figure 34 North America Transcritical CO2 Market, Growth Analysis, By Country, 2015-2020 (No. of Installations)
Figure 35 More Than Half Transcritical CO2 Installations in North America to Be in Supermarkets in 2015

The Global Transcritical CO2 market was valued at USD 4.90 Billion in 2014, which is expected to reach USD 30.70 Billion by 2020, at a CAGR of 40.2% during the forecast period from 2015 to 2020.

Transcritical CO2 is an innovative and efficient technology that is used for refrigeration and heating purposes. Transcritical systems use carbon dioxide as the primary fluid for refrigeration and heating. The initial installation cost of these systems is comparatively higher than that of a conventional system that uses an HFC-based refrigerant. However, the operational cost for a transcritical CO2 system is much lesser. Apart from the affordable operation cost, the other key feature of this system is its extreme efficiency in water heating pumps. There are more than four million transcritical CO2 domestic water heat pumps installed all over the world.

North America is the fastest-growing market as there are more than 36,000 supermarkets in this region and the supermarkets segment is the biggest (excluding domestic heat pumps) application for transcritical CO2 systems, which accounted for 75.9% in 2014. In Canada, transcritical CO2 is rapidly becoming an established commercial refrigeration technology.

Europe was the biggest market for transcritical CO2 systems with a market share of 83.2%, in terms of number of installations, and 84.1% in terms of market value during the year 2014. The European market is expected to grow at a CAGR of 42.1% during the forecast period from 2015 to 2020 to reach USD 26.00 Billion, in terms of market value. One of the prominent reasons for this growth is the low ambient temperature in the European continent, which is most suitable for transcritical CO2 systems.

One of the key applications of transcritical CO2 market is heat pumps segment, which accounted for 14.1% of the market share in 2014. Asia-Pacific is the biggest consumer of transcritical CO2 heat pumps in the world, with Japan as the global leader in this segment. The heat pumps segment is expected to grow at a CAGR of 26.5%, by value, during the forecasted period from 2015 to 2020 to reach USD 2.23 Billion by 2020.

The supermarkets segment is also projected to grow at a CAGR of 42.1%. This growth could be attributed to the large number of supermarkets, which still rely on HFC for refrigeration and would have to shift to other natural refrigerant with transcritical CO2 system coming up as the best alternative. In addition, huge investments were made in the last few years by key companies, such as Hill Phoenix Inc. (U.S.), Carrier Commercial Refrigeration (U.S.), Green & Cool World Refrigeration AB (Sweden), and Carnot Refrigeration Inc. (Canada) to meet the future demands of transcritical CO2 arising from the phase-out initiatives for HCFC- and HFC-based refrigerants across the globe.

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