To obtain the global and U.S. market size for the solid-state refrigerator market. This information will be used to assess the business opportunity for a product in the solid-state refrigeration market.
Insights on the Global Solid-State Cooling Market
The global solid-state cooling market was estimated at $358.76 million in 2018 and is anticipated to grow at a growth rate of more than 10.1% between 2019 and 2026. Another report provides an estimate of the global solid-state cooling market as $395 million in 2019, and the market is expected to reach $641 million by 2024, growing at a CAGR of 10.2% between 2019 and 2024.
North America has the largest market share in the global solid-state cooling market, owing to the growing need for data center cooling and precise temperature control requirements in various industries.
Asia-Pacific is anticipated to exhibit highest growth rate between 2019 and 2026 driven by increased demand for consumer goods, healthcare monitoring devices, and industrial automation.
"High cost and low energy conversion efficiency rate of single-stage and solid-state cooling modules" are examples of factors expected to hinder the growth of global solid-state cooling market between 2019 and 2026.
Major players in the global solid state refrigerator market include: Phononic, Inc., II-VI Incorporated, Tellurex Corporation, RMT Ltd., Thermion, Laird, Merit Technology Group, Beijing Huimao Cooling Equipment Co., Ltd., Hicooltec, TE Technology, Custom Thermoelectric Inc., Micropelt, Kreazone, and Komatsu.
Summary of Findings
From our preliminary research, we determined that information specific to the solid-state refrigerator market size in the U.S. and globally is not publicly available. We have provided information on the broader global solid-state cooling market, which includes both refrigeration and cooling product systems.
We suggest continuing with the research to provide other insights related to the solid-state refrigerator market as below:
Only the project owner can select the next research path.