The global CO2 compressor market size was estimated at USD 2.16 billion in 2024 and is anticipated to reach USD 3.34 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.9% between 2025 and 2030. This notable growth is attributed to multiple driving factors. One of the foremost contributors is the advancement in CO2 compressor technologies, which has resulted in the development of more efficient, compact, and durable systems. These improvements are particularly significant for applications where reliability and energy efficiency are critical, such as industrial refrigeration and process cooling.

Another major factor fueling the growth of the market is the rising demand for energy-efficient refrigeration solutions. As global environmental regulations tighten and industries focus on reducing their carbon footprint, CO2-based systems are gaining popularity as sustainable alternatives to conventional hydrofluorocarbon (HFC)-based systems.

The global CO2 compressor market is moderately fragmented, characterized by the presence of both large multinational corporations and smaller regional manufacturers, each striving to expand their share in a competitive landscape. Key players are investing significantly in research and development (R&D) to create high-performance and energy-efficient CO2 compressors suitable for diverse applications, including refrigeration systems, HVAC (heating, ventilation, and air conditioning), and industrial processing units.

Key Market Trends & Insights:

• North America emerged as the dominant regional market, contributing over 36.9% of global revenue share in 2024. Within this region, the U.S. CO2 compressor market is forecasted to expand at a CAGR of 7.8% over the forecast period, supported by strong industrial demand and proactive environmental policies.
• Among the compressor types, the reciprocating compressors segment led the market, accounting for a 40.6% revenue share in 2024. This dominance is primarily due to their reliability and ability to operate under high pressure, making them ideal for applications requiring robust performance.
• In terms of end-use industries, the oil & gas segment was the largest contributor, accounting for 29.8% of the revenue share in 2024. CO2 compressors are widely utilized in enhanced oil recovery (EOR) and carbon capture and storage (CCS) projects within this sector.
• The refrigeration segment also played a major role, holding a 40.3% revenue share in 2024, as CO2 is increasingly preferred in commercial refrigeration for supermarkets, cold storage facilities, and food processing units.
• By cooling mechanism, oil-cooled compressors dominated the market with a 73.1% revenue share in 2024, favored for their durability and capacity to handle continuous operations in demanding environments.
• In terms of drive type, electric compressors accounted for the largest share at 75.1% in 2024, due to the global shift toward electrification and sustainable industrial automation practices.

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Market Size & Forecast:

• 2024 Market Size: USD 2.16 Billion
• 2030 Projected Market Size: USD 3.34 Billion
• CAGR (2025-2030): 7.9%
• North America: Largest market in 2024

Key Companies & Market Share Insights:

The competitive landscape of the CO2 compressor market includes several prominent players. Atlas Copco AB and Siemens AG are among the leading companies shaping the industry through innovation, product diversification, and strategic business operations.

• Atlas Copco AB operates through four distinct business segments: Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. This diversified structure allows the company to offer specialized solutions tailored to industries such as manufacturing, construction, pharmaceuticals, automotive, and electronics, enabling a broad customer base and consistent technological advancement.
• Siemens AG, one of Europe’s largest industrial manufacturers, holds a prominent position in industrial automation and software solutions. The company focuses on intelligent infrastructure for buildings, decentralized energy systems, and digital transformation across industrial processes. Siemens’ emphasis on automation and digitalization positions it as a key player in driving innovation within the CO2 compressor market, particularly in process optimization and energy efficiency.

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Conclusion:

In conclusion, the global CO2 compressor market is poised for steady growth, driven by technological advancements, rising demand for energy-efficient and eco-friendly refrigeration solutions, and increasing focus on carbon emission reduction. With strong contributions from key regions like North America and dominant segments such as reciprocating and electric compressors, the market continues to evolve. Leading companies like Atlas Copco and Siemens are playing a vital role through innovation and strategic offerings tailored to industrial needs.