The global solid-state cooling market is estimated to grow at a CAGR 9.01% rate during the forecast period. Major factors driving the solid-state cooling market growth include growing awareness of green energy and increasing focus on curbing greenhouse gas emissions, simultaneous heating and cooling properties of solid-state cooling systems, and rising demand for precise temperature control and below ambient cooling and expanding solid-state cooling applications in industries such as healthcare, automotive, and semiconductor and electronics.
Air-Conditioners expected to grow at the highest CAGR during Forecast Period. Solid-state thermoelectric air-conditioners are compact, lightweight units used for cooling electronic cabinets, computer enclosures, electrical enclosures, instruments, telecommunication equipment, and many other industrial applications in a variety of environments. These air conditioners have a simple and efficient solid-state design that uses the Peltier effect to provide reliable performance without the use of harmful chlorofluorocarbons (CFCs).
Solid-State Cooling Market for Multi-Stage Type in North America to Grow at Highest CAGR during Forecast Period. A multi-stage module can be viewed as 2 or more single stages stacked on top of each other. These modules are also known as cascade modules. The multi stage thermoelectric modules should be used only when a single stage thermoelectric module does not fulfill the requirements of high-temperature differentials.
The solid-state cooling market in APAC is expected to be the largest market. It comprises of China, Japan, South Korea, and the Rest of Asia Pacific, which includes Australia, India, New Zealand, Singapore, Thailand, Malaysia, Indonesia, the Philippines, and Taiwan. Increased demand for consumer goods, industrial automation, and healthcare monitoring devices is expected to drive this market. With the use of solid-state cooling systems, higher efficiency levels, and energy harvesting can be achieved in this region.
Key market players includes Ferrotec (Japan), Laird Thermal Systems (US), II-VI Marlow (US), TE Technology (US), TEC Microsystems (Germany), Crystal Ltd. (Russia), Kryotherm (Russia), RMT Ltd (Russia), Thermion Company (Ukraine), Thermonamic Electronics (China), Kelk Ltd. (Japan), Z-Max (Japan), Alphabet Energy (US), O-Flexx Technologies (Germany), Phononic (US), and P&N Technology (China). Other key players include Everredtronics (China), among others.
Key Questions Addressed by the Report
- Where will all these developments take the industry in the mid to long term?
- Which will be the upcoming industries for the solid-state cooling market?
- What are the drivers, challenges, and restraints impacting the solid-state cooling market growth?
- Which hardware components and software solutions are expected to be used widely to build solid-state cooling market in the mid to long term?
- Which region is expected to witness significant demand for solid-state cooling?
- Introduction
- Market Definition
- Study Scope
- Study Period
- Market Stakeholders
- Research Methodology
- Secondary Research
- Primary Research
- Research Design
- Data Validation
- Limitations and Assumptions
- Market Dynamics
- Drivers
- Growing Awareness of Green Energy and Increasing Focus on Curbing Greenhouse Gas Emissions
- Simultaneous Heating and Cooling Properties of Solid-State Cooling Systems
- Rising Demand for Precise Temperature Control and Below Ambient Cooling
- Challenges
- Solid-State Cooling Systems Costs Higher Than Conventional Cooling and Refrigeration Systems
- Low Energy Conversion Efficiency Rate of Single-Stage Solid-State Cooling Modules
- Standard Solution Would Not Always Meet Customers’ Needs
- Opportunities
- Increasing Use of Solid-State Cooling Systems in Various Applications
- Rising Awareness By Various Governments
- Growing Internet of Things Consequently Increases Demand for More Data Storage, Resulting in More Cooling Needs
- Executive Summary
- Solid-State Cooling Market, By Product
- Refrigeration system
- Refrigerators
- Freezers
- Cooling systems
- Air conditioners
- Chillers
- Solid-State Cooling Market, By Type
- Single stage
- Multi stage
- Thermocycler
- Solid-State Cooling Market, By End-User Industry
- Automotive
- Semiconductor and electronics
- Laser diode cooling
- Microprocessor cooling
- Semiconductor wafer probes
- Healthcare
- Consumer
- others
- Solid-State Cooling Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- Japan
- China
- South Korea
- Rest of APAC
- Rest of the World
- South America
- Middle East and Africa
- Company Profiles
- Leading Companies in Solid-State Cooling Market
- Ferrotec
- Laird Thermal Systems
- II-VI Marlow
- TE Technology
- TEC Microsystems
- Crystal Ltd.
- Kryotherm
- RMT Ltd
- Thermion Company
- Thermonamic Electronics
- Kelk Ltd.
- Other Companies in Solid-State Cooling Market
- *Company introduction, financial information, recent developments, SWOT analysis
- Conclusion and Recommendations
- Appendix
- About
- Related Reports
- Glossary
