According to The Insight Partners' research, the North America Transcritical CO2 Market was valued at US$ 7,543.5 Million in 2024 and is expected to reach US$ 28,415.8 Million by 2031, registering a CAGR of 21.0% from 2025 to 2031.
Advanced integrated systems unlocking operational efficiency and cost savings and utilization of waste CO2 for refrigeration are among the critical factors attributed to driving the North America transcritical CO2 market growth.
One unique advantage of transcritical CO2 systems is their ability to provide both cooling and heating capabilities. Supermarkets and convenience stores can benefit from the heat reclamation ability of transcritical CO2 systems, where waste heat from the refrigeration process is captured and repurposed for heating applications, such as space heating or hot water production. This integrated heating capability can significantly reduce energy consumption and costs associated with separate heating systems, providing additional operational efficiency and cost savings for retailers. The integrated heating capabilities of transcritical CO2 systems also align with the mounting importance of energy efficiency and sustainability. By utilizing waste heat for heating purposes, these systems maximize energy utilization and reduce the reliance on separate heating systems, which aligns with the goals of reducing greenhouse gas emissions and minimizing energy consumption. In 2024, approximately ~4,100 supermarkets and grocery stores were utilizing transcritical CO2 systems in North America, including ~2,800 stores in the US and ~1,300 in Canada. In addition, there are ~3.6 million self-contained hydrocarbon cabinets installed in the US and ~800,000 in Canada. In 2023, approximately 2,930 food retail stores were leveraging transcritical CO2 systems in North America. These included 1,850 stores from the US and 1,080 stores from Canada. In 2023, approximately 2,498 industrial sites were leveraging transcritical CO2 systems in North America. The number of retail stores using transcritical CO2 was 1,605 in the region in 2022. The proliferation of integrated transcritical CO2 systems in retail stores and industrial sites is expected to have a positive impact on market growth. Thus, such advanced integrated transcritical CO2 systems are emerging as significant trends in the market, in turn unlocking operational efficiency and cost savings.
On the contrary, higher upfront cost of installing transcritical CO2 systems hampers the growth of North America transcritical CO2 market.
North America Transcritical CO2 Market Segmentation Analysis:
- By Application, the North America Transcritical CO2 Market is segmented into Ice Skating Rinks, Food Processing and Storage Facilities, Heat Pumps, Supermarkets and Convenience Stores, and Others. The Supermarkets and Convenience Stores segment is projected to expand at 21.0% CAGR during 2025 - 2031.
- By Function, the North America Transcritical CO2 Market is segmented into Air Conditioning, Refrigeration, and Heating. The Refrigeration segment is projected to expand at 20.9% CAGR during 2025 - 2031.
By country, the North America Transcritical CO2 Market is categorized into the United States, Canada, and Mexico. The United States is projected to expand at 21.2% CAGR during 2025 - 2031.
Key players operating in the Transcritical CO2 Market are Emerson Electric Co, Carrier Global Corp, Danfoss AS, Baltimore Aircoil Co, Evapco LMP Inc, TEKO Gesellschaft fur Kaltetechnik mbH, BITZER Kuhlmaschinenbau GmbH, Hussmann Corp, Mayekawa Manufacturing Co Ltd, and CoolSys, among others.
- On April 2025, Baltimore Aircoil Company, Inc. (BAC), a global leader in cooling solutions for industrial, manufacturing, commercial, and refrigeration markets, is pleased to announce the appointment of Morin Process Equipment as their new representative for industrial, power, and process in Alabama, Georgia, Mississippi, Tennessee, Kentucky, and Arkansas.
- On November 2024, Kysor Warren introduced ECO2 Large Natural Refrigeration System, which is reliable, energy-efficient, and simple. The ECO2 Large Natural Refrigeration System addresses three main challenges such as rising energy costs, the pressure to comply with strict environmental regulations, and the need for reliable refrigeration that works in all climates.
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