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Research Outline
Prepared for Stephen S. | Delivered August 25, 2020
Solid-State Refrigerator Market
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Goals
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.
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Early Findings
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.
By product, the global solid-state cooling market can be divided into refrigeration and cooling systems. The cooling product systems, including
air conditioners and chillers
, will hold the
largest share
of the market by 2024; while the refrigeration product systems, including
refrigerators and freezers
, is anticipated to be the
highest growin
g segment.
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:
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