Transcritical
CO2is an energy-efficient technology that is widely used in
refrigeration, heat pump, and air conditioning industries. Most of
the refrigeration, air conditioning, and heat generating systems
operate under varying climatic conditions. Different chemicals and
gaseous mixtures such as NH3, SO2, and hydrofluorocarbons (HFC) have
been used in the past few years to cope with climatic variations.
However, usage of transcritical CO2technology has resulted in
providing improved energy efficiency and minimized problems related
to global warming as compared to chemicals and other gaseous mixtures
that were previously used.
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CO2is
a supercritical fluid that has been considered as a safety
refrigerant as it is chlorine-free, non-flammable, and has no ozone
depletion potential. Furthermore, it is preferred over other
refrigerants as its vapor pressure is considerably higher and its
thermodynamic properties change rapidly with variations in
temperature and pressure conditions. Transcritical CO2technology is a
vapor compression system in which CO2 operates at normal temperature
and is primarily required in heat pump and refrigeration systems.
Working at normal temperature helps in sustenance and control of
critical pressures inside the operating system. Major end-users of
transcritical CO2 technology include marine, transportation,
household appliance, and food processing industries.
Growing
environmental regulations related to usage of chlorofluorocarbons
(CFC) and greenhouse gases (GHG) is expected to drive global demand
for transcritical CO2 during the next couple of years.Various
chlorofluorocarbons such as carbon tetrachloride,
dichlorofluoromethane, dimethyl ether, and ethane are commonly used
industrial refrigerants. These CFCs have greater ozone depletion
potential as well as global warming potential as the chloride bond
present in these compounds interferes with the ozone molecule, thus
breaking its molecular bond to give oxygen and chlorine monoxide
molecules. This process leads to depletion of protective atmospheric
layers and failsto block harmful UV rays of the Sun from penetrating
through the layer. Rising awareness about global warming has impeded
the alarming necessity for usage of chlorine-free refrigeration and
heat pump systems. Hence, demand for transcriticalCO2 technology is
anticipated to increase at a faster rate by the end of 2023.
Transcritical CO2 technology comprises usage of CO2, which has
superior performance characteristics such as zero global warming as
well as ozone depletion potential, non-toxicity, and inflammability.
Hence, this technology is anticipated to replace other thermal
technologies during the forecast period.
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In
terms of demand, Europe and North America held larger share of the
global transcritical CO2 market in 2014. Europe is estimated to
continue dominating the transcritical CO2 market due to strict
governmental regulations as well as abolishment of usage of CFCs. The
U.K.followed by Germany, Denmark, France, and Norwayare few major
countries in Europe that are likely to depict substantial growth in
the transcritical CO2 market by the end of 2023.However, North
America is anticipated to be one of the fastest-growing markets for
transcritical CO2during the next couple of years due to high demand
for energy and cost-saving technologies. Asia Pacific is also likely
to depict a similar scenario due to significant growth of end-user
applications of the transcritical CO2 market, chiefly heat pumps.
Australia and Japan are few of the major consumers of transcritical
CO2 in Asia Pacific that are likely to support growth in this region
in the next couple of years.Currently, Latin America and the Middle
East & Africa are projected to experience steady market growth
due to current economic status as well as nascent developing stages
of refrigeration and airconditioning industries.
Some
of the key players operating in the transcritical CO2 market include
Emerson Climate Technologies, Parker Hannifin Corporation, Green &
Cool World Refrigeration AB, andCarrier Commercial Refrigeration.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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This
report is a complete study of current trends in the market, industry
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of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
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