Solid-state Cooling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
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:
Other leading enterprises in the solid-state cooling market include:
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:
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5-Point Growth Formula
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The 5-point growth formula includes the following points:
Current and Future Threats
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Accurate Trend Analysis
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