The Global Solid-State Cooling market accounted for $358.54 million in 2018 and is expected to reach $1002.29 million by 2027 growing at a CAGR of 12.1% during the forecast period. Increasing knowledge of green energy and developing a focus on curbing greenhouse gas emissions, growing demand for various applications in industries such as healthcare, automotive, semiconductor and electronics are some of the factors fuelling the market growth. However, the higher cost compared to conventional cooling and refrigeration systems is one of the restraining factors for the market.
The solid-state cooling systems offer low upkeep and high dependability over traditional cooling and refrigeration frameworks. These frameworks are broadly utilized in electronic, medicinal, media communications, and aviation businesses. This progression in the technology stems from the development of new semiconductor materials and the research that explores the potential thermoelectric cooling.
Based on End User, the Aerospace segment is likely to have a huge demand in emerging countries due to reduction of weight associated with the thermal management systems and high efficiency in cooling in the aerospace industry. By Geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the growing demand for consumer goods, industrial automation, and healthcare monitoring are the major drivers of this region.
Some of the key players profiled in the Solid-State Cooling market include Z-Max, Thermonamic Electronics, Thermion Company, TEC Microsystems, TE Technology, RMT Ltd, Phononic , P&N Technology, O-Flexx Technologies, Micropelt, Laird Thermal Systems, Kryotherm, Kelk Ltd., II-VI Marlow, HUI Mao, HI-Z Technology, Ferrotec, Everredtronics, Crystal Ltd., and Alphabet Energy.
Types Covered:
- Thermocycler
- Single Stage
- Multi Stage
Products Covered:
- Cooling Systems
- Refrigeration System
End Users Covered:
- Consumer
- Semiconductor and Electronics
- Automotive
- Healthcare
- Other End Users
Regions Covered:
North America
- US
- Canada
- Mexico
Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
South America
- Argentina
- Brazil
- Chile
- Rest of South America
Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
