Solid-state Cooling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Solid-state Cooling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Report Digest
Global Solid-state Cooling Market: Overview
The solid-state cooling technology has grown at a slow but a steady pace. This progression in the technology stems from the development of new semiconductor materials and the research that explores the potential thermoelectric cooling. The rising environmental concerns have not only increased the demand for solid-state cooling systems but necessitated its use. Manufacturers are keen on investing in the global solid-state cooling market looking at its growing demand in scientific applications and medical sector.
Earlier, thermoelectrics was used in small systems but now they are being big systems for deep freezing up to 70° C. As new thermoelectric technologies come into picture the solid-state cooling market attracts numerous enterprises and researchers. The introduction of new solid-state cooling technologies and rising awareness regarding green energy has encouraged the TMR analysts to conduct thorough research on the global solid-state cooling market.
In its latest offering, TMR highlights the drivers, growth opportunities, restraints, and risks in the solid-state cooling market. It also talks about the current trends in the global solid-state cooling market and their impact on the business related decisions taken by the stakeholders.
Global Solid-state Cooling Market: Notable Developments and Competitive Analysis
In the last couple of years, there have considerable changes in the solid-state cooling market aimed at the development of cheaper materials and recycling energy. Some of the recent developments in the global solid-state cooling market are mentioned below:
- Phononic, a U.S. based company has developed solid-state cooling technology that can be used on drones for transporting payload such as human organs in a medical emergency. Apart from the healthcare industry, this cold-chain transport solution also finds applications in food retail and optoelectronics industry.
- In February 2018, Crystal Ltd. launched new thermoelectric recirculation chiller CFC-250-TE-AIC which records the light changes in the light waves. It is widely used in modern biological and medical laboratories due to its analytical properties.
- Laird Thermal Systems has expanded its product offering for SuperCool Series by developing three compact Peltier Cooler assemblies. They are an environmentally-friendly alternative to compressor-based systems used for temperature control.
Other leading enterprises in the solid-state cooling market include:
- Ferrotec
- TE Technology
- TEC Microsystems
- Thermion Company
- O-Flexx Technologies
Global Solid-state Cooling Market: Key Drivers
Soaring Demand for Precise Temperature Control to Spur Growth
Industries such as automotive, healthcare, and electronics demand precise temperature control which can only be achieved through solid-state cooling systems. The consumer electronics segment in specific is the highest contributor to the solid-state cooling systems industry as the newly developed compact devices require enhanced thermal management.
Thermocyclers to Steer the Market’s Expansion
Thermocyclers can survive continuous cycles across a broad temperature range. They are extensively used in the life-sciences industry for generation of probes, DNA sequencing, quantification of DNA, and other applications. This growing demand for thermocyclers from the life sciences industry has highly contributed to the solid-state cooling market’s growth.
Apart from these drivers, high preference of solid-state freezers over traditional freezers has also driven the industry’s growth.
Global Solid-state Cooling Market: Regional Analysis
Asia Pacific is expected to dominate the solid-state cooling market due to rising demand for industrial automation and consumer goods. The food and beverages industry is also a major contributor to the market’s growth in this region owing to a huge demand for wine cabinets and chillers. China is one of the most lucrative regions for the market as it offers solid-state cooling products at a lower rate than its competitors. The market in North America is also expected to grow at a promising pace due to rising applications in medical refrigeration and laboratories.
The solid-state cooling market is segmented based on:
Type:
- Single Stage
- Multi Stage
- Thermocycler
Product:
- Refrigeration System
- Refrigerators
- Freezers
- Cooling System
- Air Conditioners
- Chillers
End-user Industry:
- Medical
- Automotive
- Consumer
- Semiconductor & Electronics
- Others (Research, Industrial, and Aerospace)
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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