HOME Top Market Reports Magnetic Refrigeration Market by Product (Refrigeration, Air conditioning, Heat pumps), Application (Domestic, Commercial, Transportation & Industrial) & Geography - Global forecast to 2022

Magnetic Refrigeration Market by Product (Refrigeration, Air conditioning, Heat pumps), Application (Domestic, Commercial, Transportation & Industrial) & Geography - Global forecast to 2022

By: marketsandmarkets.com
Publishing Date: August 2015
Report Code: SE 3653

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Magnetic refrigeration is a cooling technology which applies the magnetocaloric effect (MCE). The magnetic refrigeration technology does not involve the use of refrigerants and its coefficient of performance (COP) is estimated to be higher than that of a conventional refrigeration system. The market for magnetic refrigeration technology is expected to witness growth as the latter is more energy-efficient, uses no toxic or environmentally-harmful fluids, has a compact design for portable applications, and entails a lower maintenance cost. The magnetic refrigeration market has been segmented based on product (refrigeration, air conditioning, and heat pumps), application (domestic, commercial, transportation, and industrial) and geography.

The magnetic refrigeration market is expected to reach USD 315.7 Million by 2022, at a CAGR of 98.7% between 2017 and 2022. The industrial application is expected to witness the fastest growth owing to the growth of the food & beverage processing & storage segment.  Freezers and refrigerator are expected to witness the fastest growth within the refrigeration segment.

The key players in the market include Cooltech Applications (France), Astronautics Corporation America (U.S.) and Camfridge Ltd (U.K.), General Electric (U.S.), and Whirlpool Corporation (U.S.) among others.

This report describes the value chain for the magnetic refrigeration market by considering all the major stakeholders in the market and their roles in the analysis. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It covers a brief description of the major players that are active in the market. It also covers the competitive landscape of these players which includes the key growth strategies and recent developments.

The report covers the market data and information regarding the market drivers, trends, and opportunities, key players, and competitive outlook. This report also provides tables which provide information about the various sub-segments. In addition, it profiles major companies involved in magnetic refrigeration market, which includes their overview, products and services, financials, strategy, SWOT analysis, and recent developments.

Available customization

With the given market data, MarketsandMarkets offers customizations as per the company‘s specific needs. The following customization options are available for the report.

  • Geographic analysis:

Analysis of applications of magnetic refrigeration in different geographies. Country wise analysis of magnetic refrigeration with respect to applications can be given in the customization.

  • Company Information:

    Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders
    1.7 Limitations

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Source
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Traingulation
    2.4 Market Share Estimation
           2.4.1 Key Industry Insights
           2.4.2 Report Assumptions
           2.4.3 Limitation

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Market Opportunities in the Global Magnetic Refrigeration Market
    4.2 Market, By Application
    4.3 Market, By Application and Region
    4.4 The U.S. is Likely to Account for A Share of ~38% of the Market Globally (2017)
    4.5 Market, By Product
    4.6 Magnetic Refrigeration Technology: Largest Market vs the Fastest-Growing Market

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Evolution
    5.3 Market Segmentation
           5.3.1 By Product
           5.3.2 By Application
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Increasing Focus on Green Technology
                    5.4.1.2 Low Maintenance Cost
                    5.4.1.3 High Energy Efficiency
           5.4.2 Restraints
                    5.4.2.1 Initial Investment is High
                    5.4.2.2 Permanent Magnets Have A Limited Field Strength
           5.4.3 Opportunities
                    5.4.3.1 Adoption of Magnetic Refrigeration in the Transportation Sector
                    5.4.3.2 High Potential in the Industrial Sector
           5.4.4 Challenges
                    5.4.4.1 Need for Suitable Magnetocaloric Materials
           5.4.5 Burning Issues
                    5.4.5.1 Moving Machines Need High Precision
           5.4.6 Winning Imperatives
                    5.4.6.1 Compact Design for Portable Applications

6 Magnetic Refrigeration Market, By Product (Page No. - 41)
    6.1 Introduction
    6.2 Refrigeration
    6.3 Refrigerators
    6.4 Cabinet Displays
    6.5 Freezers
    6.6 Beverage Coolers
    6.7 Ice-Cream Cabinets
    6.8 Air Conditioning
    6.9 Stationary Air Conditioner
    6.10 Mobile Air Conditioner
    6.11 Chillers
    6.12 Heat Pumps

7 Magnetic Refrigeration Market, By Application (Page No. - 54)
    7.1 Introduction
    7.2 Domestic Application
    7.3 Commercial Application
    7.4 Transportation
    7.5 Logistics
    7.6 Automotive Application
    7.7 Aerospace Application
    7.8 Marine Application
    7.9 Industrial Application
    7.10 Food & Beverage Processing & Storage
    7.11 Healthcare Application

8 Geographic Analysis (Page No. - 71)
    8.1 Introduction
    8.2 North America
    8.3 South America
    8.4 Europe
    8.5 Asia-Pacific
    8.6 Rest of the World

9 Competitive Landscape (Page No. - 95)
    9.1 Overview
    9.2 Market Share Analysis of the Magnetic Refrigeration Market
    9.3 Competitive Situations and Trends
    9.4 New Product Launches
    9.5 Partnerships and Collaborations
    9.6 Expansion
    9.7 Mergers and Acquisitions

10 Company Profiles  (Page No. - 101)
     10.1 Introduction
(Overview, Products and Services, Financials, Strategy & Development)*
             10.1.1 Cooltech Applications
             10.1.2 Camfridge Ltd
             10.1.3 Astronautics Corporation of America
             10.1.4 Whirlpool Corporation
             10.1.5 General Electric Co.
             10.1.6 Qingdao Haier Co., Ltd
             10.1.7 BASF SE
             10.1.8 Eramet SA
             10.1.9 Sigma-Aldrich Corporation
             10.1.10 Samsung Electronics Co., Ltd
             10.1.11 Toshiba Cororation

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 137)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customization
     11.5 Related Reports


List of Tables (66 Tables)

Table 1 Magnetic Refrigeration Market, By Product, 2016–2022 (USD Million)
Table 2 Market for Refrigeration, 2016–2022 (USD Million)
Table 3 Market for Refrigeration, By Application, 2016–2022, (USD Million)
Table 4 Market for Refrigeration, By Transportation Application, 2016–2022, (USD Thousand)
Table 5 Market for Refrigeration, By Industrial Application, 2016–2022, (USD Million)
Table 6 Market for Air Conditioning, 2016–2022, (USD Million)
Table 7 Market for Air Conditioner, By Application, 2016–2022, (USD Thousand)
Table 8 Market for Air Conditioner, By Transportation Application, 2016–2022 (USD Thousand)
Table 9 Market for Air Conditioner, By Industrial Application, 2016–2022 (USD Thousand)
Table 10 Market for Heat Pumps, By Application, 2016–2022 (USD Thousand)
Table 11 Market for Heat Pumps, By Transportation Application, 2016–2022, (USD Thousand)
Table 12 Magnetic Refrigeration Market for Heat Pumps, By Industrial Application, 2016–2022, (USD Thousand)
Table 13 Market, By Application, 2016–2022 (USD Million)
Table 14 Market for Domestic Application, By Product, 2016–2022 (USD Thousand)
Table 15 Market for Domestic, By Region, 2016–2022 (USD Thousand)
Table 16 Market for Commercial, By Product, 2016–2022 (USD Million)
Table 17 Market for Commercial, By Region, 2016–2022 (USD Million)
Table 18 Market, By Transportation Application, 2016–2022 (USD Thousand)
Table 19 Market for Transportation, By Product, 2016–2022 (USD Thousand)
Table 20 Market for Transportation, By Region, 2016–2022 (USD Thousand)
Table 21 Market for Logistics, By Product, 2016–2022 (USD Thousand)
Table 22 Market for Logistics, By Region, 2016–2022 (USD Thousand)
Table 23 Market for Automotive Application, By Product, 2016–2022 (USD Thousand)
Table 24 Market for Automotive Application, By Region, 2016–2022 (USD Thousand)
Table 25 Market for Aerospace, By Product, 2016–2022 (USD Thousand)
Table 26 Market for Aerospace Application, By Region, 2016–2022 (USD Thousand)
Table 27 Market for Marine Application, By Product, 2016–2022 (USD Thousand)
Table 28 Market for Marine Application, By Region, 2016–2022 (USD Thousand)
Table 29 Market, By Industrial Application, 2016–2022 (USD Thousand)
Table 30 Market for Industrial Application, By Product, 2016–2022 (USD Thousand)
Table 31 Market for Industrial Application, By Region, 2016–2022 (USD Thousand)
Table 32 Market for Food & Beverage Processing & Storage Application, By Product, 2016–2022 (USD Thousand)
Table 33 Market for Food & Beverage Processing & Storage Application, By Region, 2016–2022 (USD Thousand)
Table 34 Market for Healthcare Application, By Product, 2016–2022 (USD Thousand)
Table 35 Market for Healthcare Application, By Region, 2016–2022 (USD Thousand)
Table 36 Market, By Geography, 2016–2022 (USD Million)
Table 37 North American Magnetic Refrigeration Market, 2016–2022 (USD Million)
Table 38 North America Market, By Product, 2016–2022 (USD Million)
Table 39 North America Market, By Application, 2016–2022 (USD Thousand)
Table 40 North America Magnetic Refrigeration Market, By Transportation Application, 2016–2022 (USD Thousand)
Table 41 North America Market, By Industrial Application, 2016–2022 (USD Thousand)
Table 42 South American Magnetic Refrigeration Market, 2016–2022, (USD Million)
Table 43 South American Market, By Product, 2016–2022, (USD Thousand)
Table 44 South American Magnetic Refrigeration Market, By Application, 2016–2022, (USD Thousand)
Table 45 South American Magnetic Refrigeration Market, By Transportation Application, 2016–2022, (USD Thousand)
Table 46 South American Market, By Industrial Application, 2016–2022, (USD Thousand)
Table 47 Europe Magnetic Refrigeration Market, 2016–2022 (USD Million)
Table 48 European Market, By Product, 2016–2022 (USD Million)
Table 49 European Magnetic Refrigeration Market, By Application, 2016–2022 (USD Million)
Table 50 European Market, By Transportation Application, 2016–2022 (USD Thousand)
Table 51 European Magnetic Refrigeration Market, By Industrial Application, 2016–2022 (USD Thousand)
Table 52 Asia-Pacific Magnetic Refrigeration Market, 2016–2022 (USD Million)
Table 53 Asia-Pacific Market, By Product, 2016–2022 (USD Million)
Table 54 Asia-Pacific Market, By Application, 2016–2022 (USD Thousand)
Table 55 Asia-Pacific Magnetic Refrigeration Market, By Transportation Application, 2016–2022 (USD Thousand)
Table 56 Asia-Pacific Magnetic Refrigeration Market, By Industrial Application, 2016–2022 (USD Thousand)
Table 57 Rest of the World Refrigeration Market, 2016–2022 (USD Million)
Table 58 Rest of the World Refrigeration Market, By Product, 2016–2022 (USD Thousand)
Table 59 Rest of the World Refrigeration Market, By Application, 2016–2022 (USD Thousand)
Table 60 Rest of the World Refrigeration Market, By Transportation Application, 2016–2022 (USD Thousand)
Table 61 Rest of the World Refrigeration Market, By Industrial Application, 2016–2022 (USD Thousand)
Table 62 Key Players Rank (2014)
Table 63 New Product Launches, 2011–2015
Table 64 Partnerships and Collaborations, 2011–2015
Table 65 Expansion, 2011–2015
Table 66 Mergers and Acquisitions, 2011–2015


List of Figures (66 Figures)

Figure 1 Magnetic Refrigeration Market
Figure 2 Global Market: Research Deisgn
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 6 Market Snapshot (2017 vs 2022) : the Commercial Application is Expected to Dominate the Market
Figure 7 Global Magnetic Refigeration Market, By Product, 2017
Figure 8 Global Magnetic Refrigeration Market, By Geography, 2017
Figure 9 Global Market, By Product (2022)
Figure 10 The Market is Expected to Grow at A CAGR of 98.6% Between 2017 and 2022
Figure 11 Commercial and Industrial Applications are Expected to Play A Significant Role in the Magnetic Refrigeration Market (2017-2022)
Figure 12 Europe & North America Would Be the Major Markets for the Magnetic Refrigeration Technology in 2017
Figure 13 The U.S. Constitutes Over One-Third of the Market
Figure 14 The Beverage Cooler Segment is Expected to Dominate the Magnetic Refrigeration Market Between 2017 and 2022
Figure 15 The U.S. is the Largest Market for Magnetic Refrigeration Technology While India is Expected to Witness the Fastest Growth
Figure 16 Evolution of Magnetic Refrigeration
Figure 17 Market, By Product
Figure 18 Market, By Application
Figure 19 High Energy Efficiency and Green Technology are Expected to Boost the Magnetic Rerfigeration Market
Figure 20 Magnetic Rerigeration Market Segmentation, By Product
Figure 21 The Refrigeration Segment Dominates the Market While the Heat Pumps Segment is Expected to Grow at the Fastestrate
Figure 22 The Beverage Coolers is Expected to Dominate the Refrigeration Segment in the Magnetic Refigeration Market
Figure 23 The Industrial Application is Expected to Witness the Fastest Growth During the Forecast Period
Figure 24 The Stationary Air Conditioners Segment is Estimated to Dominate the Magnetic Refrigeration Market for Air Conditioning
Figure 25 Commercial Application Expected to Be the Leading Segment in the Magnetic Refrigeration Market for Air Conditioning
Figure 26 Healthcare is the Fastest Growing Market for Magnetic Refrigeration in the Industrial Segment
Figure 27 Commercial is Estimated to Dominate the Application Segment While Industrial is Estimated to Grow at A Faster Rate
Figure 28 Food & Beverage Processing & Storage Industry is Expected to Dominate the Market
Figure 29 Magnetic Rerigeration Segmentation, By Application
Figure 30 Industrial Application is Expected to Witness the Highest Growth Rate for Magnetic Rerigeration
Figure 31 Refrigeration is Expected to Dominate During the Forecast Period
Figure 32 Heat Pumps are Expected to Be the Fastest-Growing Market in the Commerical Segment for Magnetic Refrigeration
Figure 33 Refrigeration is Expected to Hold the Largest Market Share in Transportation
Figure 34 North America is Expected to Hold the Largest Market Share in Magnetic Regrigeration for Logistics in 2017
Figure 35 Refrigeration is Expected to Be the Most Dominant Market for the Aerospace Application in Magnetic Refrigeration
Figure 36 Heat Pump is Expected to Be the Fastest-Growing Market for the Industrial Application in Magnetic Refrigeration
Figure 37 Refrigeration is Expected to Dominate During the Forecast Period
Figure 38 Magnetic Rerigeration Segmentation, By Geography
Figure 39 The Market for Magnetic Refrigeration Technology in Japan is Expected to Grow at the Highest CAGR, (2017–2022)
Figure 40 Asia-Pacific & South America: Attractive Markets for Magnetic Refrigeration Related Applications
Figure 41 North American Magnetic Refrigeration Market Snapshot: U.S. is Expected to Be the Largest Market for the Magnetic Refrigeration Technology
Figure 42 The Industrial Segment is Expected to Witness the Fastest Growth in the North American Magnetic Refrigeration Market
Figure 43 Brazil is Expected to Be the Leading Market for Magnetic Refrigeration in South America
Figure 44 Logistics is Expected to Be the Leading Market for Magnetic Refrigeration in the Transportation Application
Figure 45 European Magnetic Refrigeration Market Snapshot: Germany is Expected to Be Hold the Largest Share in the European Magnetic Refrigeration Market
Figure 46 Commercial Application is Expected to Dominate the European Magnetic Refrigeration Market
Figure 47 Asia-Pacific Magnetic Refrigeration Market Snapshot: China is Expected to Hold the Largest Share in the Asia-Pacific Magnetic Refrigeration Market
Figure 48 The Industrial Application is Expected Witness the Fastest Growth in the Asia-Pacific Magnetic Refrigeration Market
Figure 49 The Middle East is Expected to Be the Largest Market for Magnetic Refrigeration in the Rest of the World Region
Figure 50 The Commercial Application is Expected to Dominate the Rest of the World Magnetic Refrigeration Market
Figure 51 Companies Adopted Partnerships, Agreements, and Collaborations Was the Key Growth Strategy Over the Last Four Years (2011–2015)
Figure 52 Market Evaluation Framework
Figure 53 Battle for Market Share: Collaborations & Agreements, New Product Launches, and Expansion Were the Key Strategies Adopted By Companies Between 2011 and 2015
Figure 54 Geographic Revenue Mix of the Top Market Players for the Market
Figure 55 Camfridge Ltd.: SWOT Analysis
Figure 56 SWOT Analysis
Figure 57 Whirlpool Corporation: Company Snapshot
Figure 58 SWOT Analysis
Figure 59 General Electric Co.: Company Snapshot
Figure 60 SWOT Analysis
Figure 61 Qingdao Haier Co., Ltd: Company Snapshot
Figure 62 BASF SE: Company Snapshot
Figure 63 Eramet SA: Company Snapshot
Figure 64 Sigma-Aldrich: Company Snapshot
Figure 65 Samsung Electronics Co., Ltd: Company Snapshot
Figure 66 Toshiba Corporation: Company Snapshot

The magnetic refrigeration market has been segmented based on application into domestic, commercial, transportation, and industrial, in this report. It has been segmented based on geography into North America (U.S., Canada, and Mexico), Europe (Germany, U.K., France, Italy, Spain, and Others), APAC (China, Japan, India, South Korea, and Others), South America (Brazil, Argentina, and Others) and the Rest of the World (Middle East, Africa, and Others).

The magnetic refrigeration technology has various advantages over conventional cooling technologies such as lower cost, longer life, lower weight, and higher efficiency.  This is because it only requires one moving part—the rotating disc—on which the magnetocaloric material is mounted. Decreased operating cost, higher efficiency, lower energy consumption, lesser maintenance cost, and zero emission of hazardous gases are some of the driving factors that are expected to fuel the adoption of the magnetic refrigeration technology in various applications in the coming years.

The figure below shows the estimated growth of the magnetic refrigeration market between 2016 and 2022.

Magnetic Refrigeration Market

The magnetic refrigeration market is expected to reach USD 315.7 Million by 2022, at a CAGR of 98.7% between 2017 and 2022. This report also covers the drivers, restraints, and opportunities for the studied market.The growth of the market is expected to be primarily driven by factors such as government regulations to ban HFC refrigerants, low maintenance cost of magnetic refrigeration, high energy efficiency, and green technology.  Increasing focus on green technology, low maintenance cost, and high energy efficiency are some of the drivers of the market.

Currently, only a few companies are involved in the manufacturing of magnetic refrigeration technology; however, many players are expected to enter this market in the coming years as it is expected to register a high demand due to its various advantages over conventional refrigeration systems.  The key players in the magnetic refrigeration market include Cooltech Applications (France), Camfridge Ltd (U.K.), Astronautics Corporation of America (U.S), Whirlpool Corporation (U.S.), General Electric CO. (U.S.), Qingdao Haier Co., Ltd (China), BASF SE (Germany), Eramet SA (France), Sigma-Aldrich Corporation (U.S.), Samsung Electronics Co., Ltd (South Korea), and Toshiba Corporation (Japan).

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