North America Transcritical CO2 Market: Supercritical Growth in Green Refrigeration
The North American transcritical Carbon Dioxide (CO2) market is experiencing significant growth, driven by increasing environmental regulations, a growing awareness of the harmful effects of conventional refrigerants, and advancements in CO2 refrigeration technology. The North America transcritical CO2 market size is projected to reach US$ 28.45 billion by 2031 from US$ 4.57 billion in 2023. The market is expected to register a CAGR of 25.7% during 2023–2031. This surge is fueled by the inherent environmental benefits and improving efficiency of transcritical CO2 systems, particularly in commercial refrigeration applications. A primary driver for this market is the stringent regulatory landscape across North America. Both the United States and Canada are phasing down the production and consumption of high-global warming potential (GWP) hydrofluorocarbons (HFCs) under international agreements and domestic legislation. This regulatory push is creating a strong incentive for busin...