Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Size, Share, Trends, Industry Analysis Report: By Commercial Application, Industrial Application, and Region - Market Forecast, 2025-2034
The global transcritical CO2 systems for commercial and industrial refrigeration market size is expected to reach USD 55.48 billion by 2034, according to a new study by Polaris Market Research. The report "Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Size, Share, Trends, Industry Analysis Report: By Commercial Application (Supermarkets & Hypermarkets, Convenience Stores, Hotels & Restaurants, and Other Retail Stores), Industrial Application, and Region (North America, Europe, Asia Pacific, Middle East & Africa, And Latin America) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The transcritical CO2 systems for commercial and industrial refrigeration market is gaining momentum due to its benefit of energy efficiency. The primary driving factor is the increasing regulatory pressure to phase out high-GWP refrigerants, which has prompted businesses to seek natural refrigerant alternatives such as CO2. Governments and organizations are emphasizing sustainability, driving demand for eco-friendly refrigeration solutions. Additionally, rising energy costs are pushing companies to adopt systems that offer better long-term cost efficiency, further boosting the adoption of transcritical CO2 systems across industries.
Growth prospects for the transcritical CO2 systems for commercial and industrial refrigeration market are strong, with a growing number of industries seeking to reduce their environmental impact. The food retail, cold storage, and industrial sectors are expected to continue adopting these systems at a fast pace, driven by regulatory compliance and the long-term cost benefits associated with energy-efficient refrigeration. As awareness of CO2's advantages increases, the market is projected to expand significantly, particularly in regions with stringent environmental regulations.
Technological advancements have enhanced the capabilities of transcritical CO2 systems, allowing them to function efficiently in warmer climates, which was previously a limitation. This has opened up new opportunities for market growth in regions such as North America and parts of Asia Pacific. The increasing emphasis on sustainability in corporate strategies and stricter environmental regulations worldwide are expected to propel market growth during the forecast period. Moreover, companies investing in this technology are poised to benefit from environmental compliance and cost savings.
Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Report Highlights
Based on commercial application, in 2024, the supermarkets & hypermarkets segment led the transcritical CO2 systems for commercial and industrial refrigeration market, representing 40.3% of revenue share. The market growth for this segment is driven by factors such as large refrigeration needs, environmental sustainability goals, and compliance with low-GWP refrigerant regulations.
By industrial application, the market is segmented into food & beverage processing, cold storage warehouses, chemical & pharmaceutical, and other industrial applications. The other industrial applications segment is expected to register a CAGR of 17.2% due to its increasing demand in sectors such as retail, data centers, and others.
Europe dominated the market in 2024, fueled by strict environmental regulations and a strong focus on sustainability. Policies such as the F-Gas Regulation mandate reducing high-GWP refrigerant use, boosting the adoption of eco-friendly CO2 systems.
A few global key market players are CO2 Refrigeration Systems, Inc.; FRASCOLD SPA; ADVANSOR A/S; MAYEKAWA MFG. CO., LTD.; ALFA LAVAL; Hussmann Corporation; Emerson Electric Co.; BITZER; Danfoss GmbH; Baltimore Aircoil Company Inc.; Carrier Corporate; Henry Group Industries; Hillphoenix (A Dover Company); Kysor Warren (Epta S.p.a); and EVAPCO, Inc.
Polaris Market Research has segmented the transcritical CO2 systems for commercial and industrial refrigeration market report on the basis of commercial application, industrial application, and region:
By Commercial Application Outlook (Revenue - USD Billion, 2020-2034)
Supermarkets & Hypermarkets
Convenience Stores
Hotels & Restaurants
Other Retail Stores
By Industrial Application Outlook (Revenue - USD Billion, 2020-2034)
Food & Beverage Processing
Cold Storage Warehouses
Chemical & Pharmaceutical
Other Industrial Applications
By Regional Outlook (Revenue - USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Australia
Malaysia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa
Table of Contents
Chapter 1. Research Methodology Overview
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing (Secondary Sources)
Chapter 2. Executive Summary
2.1 Market Overview
2.2 Market Segmentation
2.2.1 Market By Commercial Application
2.2.2 Market By Industrial Application
2.2.3 Geographic Overview
Chapter 3. Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Insights
3.1 Transcritical CO2 Systems for Commercial and Industrial Refrigeration - Market Size And Growth Prospects
3.2 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Dynamics
3.2.1 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Driver and Opportunity Analysis
3.2.1.1 Increasingly stringent environmental regulations and policies aimed at reducing greenhouse gas emissions
3.2.1.2 Growing corporate and governmental focus on sustainability and eco-friendly practices
3.2.1.3 Continuous innovations in CO2 refrigeration Commercial Application
3.2.2 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Restraint/Challenges Analysis
3.2.2.1 High Initial Costs
3.2.2.2 Shortage of skilled technicians and engineers
3.3 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market- Porter's Five Forces Analysis
3.4 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market- PESTLE Analysis
3.5 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market- Value Chain Analysis
3.6 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market- Key Industrial Trends
3.7 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market- COVID-19 Impact Analysis
Chapter 4. Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Assessment By Commercial Application
4.1 Introduction
4.2 Supermarkets & Hypermarkets
4.3 Convenience Stores
4.4 Hotels & Restaurants
4.5 Others Retail Stores
Chapter 5. Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Assessment By Industrial Application
5.1 Introduction
5.2 Food & Beverage Processing
5.3 Cold Storage Warehouses
5.4 Chemical & Pharmaceutical
5.5 Other Industrial Applications
Chapter 6. Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market Assessment by Geography
6.1 Introduction
6.2 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market - North America
6.2.1 U.S.
6.2.2 Canada
6.3 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market - Europe
6.3.1 Germany
6.3.2 France
6.3.3 Italy
6.3.4 U.K
6.3.5 Spain
6.3.6 Netherlands
6.3.7 Russia
6.3.8 Rest of Europe
6.4 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market - Asia-Pacific
6.4.1 China
6.4.2 India
6.4.3 Japan
6.4.4 Indonesia
6.4.5 South Korea
6.4.6 Malaysia
6.4.7 Rest of APAC
6.5 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market - Latin America
6.5.1 Brazil
6.5.2 Argentina
6.5.3 Mexico
6.5.4 RoLATAM
6.6 Transcritical CO2 Systems for Commercial and Industrial Refrigeration Market - Middle East And Africa