North America Transcritical CO2 Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Ice Skating Rinks, Food Processing and Storage Facilities, Heat Pumps, Supermarkets and Conveni

The North America Transcritical CO2 Market is projected to grow significantly, reaching an estimated US$ 28,415.8 million by 2031, up from US$ 7,543.5 million in 2024, reflecting a robust compound annual growth rate (CAGR) of 21.0% from 2025 to 2031. This growth is primarily driven by the increasing adoption of energy-efficient refrigeration and cooling systems across various sectors, particularly in commercial and industrial applications.

Transcritical CO2 systems are gaining traction due to their environmental benefits, particularly in reducing greenhouse gas emissions. Many food retail stores in North America are transitioning to these systems to enhance their sustainability efforts. For instance, in February 2024, Zero Zone, a US-based original equipment manufacturer (OEM), installed a transcritical CO2 refrigeration system at a supermarket in Palmdale, California, replacing older hydrofluorocarbon (HFC) systems. Similarly, DeCicco & Sons, a New York-based grocery chain, implemented an R744 transcritical CO2 system in their Larchmont store, achieving a notable reduction in electricity consumption by 7-37%. These examples illustrate the advantages of transcritical CO2 systems in promoting energy efficiency and sustainability in retail environments.

In addition to supermarkets, transcritical CO2 systems are also being utilized in ice skating rinks as a more environmentally friendly alternative to traditional refrigerants like ammonia and HFCs. CO2, as a natural refrigerant, has a zero ozone depletion potential (ODP) and a low global warming potential (GWP), making it a sustainable choice for cooling applications. The growing demand for transcritical CO2 systems has prompted manufacturers to invest in expanding their product offerings. For example, Emerson Electric Co. launched a new Transcritical CO2 Screw Compressor Unit in California in March 2023 to meet the rising demand for sustainable refrigeration technologies.

The market segmentation of the North America Transcritical CO2 Market reveals that supermarkets and convenience stores held the largest share in 2024, while refrigeration applications dominated the market by function. The increasing number of cold storage facilities and food retail outlets is a significant driver of market growth. In April 2025, Ti Cold and Banks Cold Storage are set to open a new cold storage facility in Banks County, Georgia, while NewCold plans to invest US$ 222 million in a state-of-the-art food storage facility in Coaldale, Alberta, in 2024. Such developments highlight the expanding infrastructure supporting the transcritical CO2 market.

The environmental advantages of transcritical CO2 systems are becoming increasingly important as countries work to phase out ozone-depleting substances. Conventional refrigerants like HFCs contribute significantly to ozone layer depletion, whereas transcritical CO2 systems offer a much lower GWP, with CO2 having a GWP of 1 compared to HFCs, which can have GWPs in the thousands. This shift towards using CO2 as a refrigerant is crucial in mitigating climate change and reducing the carbon footprint associated with refrigeration and cooling applications.

Supermarkets and grocery chains are among the largest adopters of transcritical CO2 systems, as refrigeration represents a substantial portion of their energy consumption and carbon emissions. For instance, Tesco has implemented transcritical CO2 systems in its stores as part of its commitment to achieving net-zero carbon emissions by 2035. Additionally, ALDI US plans to install transcritical CO2 refrigeration systems in 745 stores across the U.S. by November 2024, further demonstrating the widespread adoption of this technology in the retail sector.

The North America Transcritical CO2 Market is also segmented by country, with the United States holding the largest market share in 2024. The convenience store sector in the U.S. is experiencing growth, with 152,396 operational stores reported in 2024, marking a 1.5% increase from the previous year. This growth is expected to drive further installations of transcritical CO2 systems as the demand for cold storage facilities rises, fueled by changing consumer preferences and an increasing population.

Key players in the Transcritical CO2 Market include Emerson Electric Co., Carrier Global Corp, Danfoss AS, and others, who are actively pursuing strategies such as product innovation, expansion, and mergers and acquisitions to enhance their market presence. The ongoing development and implementation of transcritical CO2 systems signify a pivotal shift towards more sustainable refrigeration practices, aligning with the growing demand for eco-friendly cold storage solutions across various industries. Show more