Solid-State Cooling Market

Solid-State Cooling Market by Product (Refrigeration System and Cooling System), Type (Single Stage, Multi Stage, and Thermocycler), End-User Industry (Automotive, Semiconductor and Electronics, Healthcare, Consumer), Region - Global Forecast to 2024

Report Code: SE 7273 Aug, 2019, by marketsandmarkets.com

The global solid-state cooling market is estimated to grow from USD 395 million in 2019 to USD 641 million by 2024, at a CAGR of 10.2%.

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 electrononics. higher costing than conventional cooling and refrigeration systems among the key factors restraining the growth of the market.

Solid-State Cooling Market

Solid-State Cooling Market, by Product, for Air-Conditioners to Grow at 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). In the Peltier effect, a temperature difference is created by transferring heat between 2 electrical junctions. The temperature difference is created by the thermoelectric elements between the internal and external ambient heat sinks making internal air cooler while dissipating heat into the external environment. The solid-state thermoelectric air conditioners are efficient and are robust in nature. They are resistant to extreme ambient conditions and can operate effectively in environments that are dusty and oily and where the temperature may vary from −4°F to 149°F. These are available for both outdoor and indoor applications; depending on the cooling applications, these air conditioners are available with AC or DC voltage. The operating voltage of solid-state thermoelectric air-conditioners varies from almost 12V AC/DC to 120–230V AC/DC. There are no moving parts, no filters, and no compressors in these air conditioners except for fans, and thus there is more reliability and efficiency. These air conditioners have no air exchange between ambient and cabinet air.

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 construction of a multi-stage module is usually of a pyramidal type—each lower stage is bigger than the upper stage. Once the top stage is used for cooling, the lower stage requires a greater cooling capacity to pump heat that is dissipated from the upper stage. The multi-stage thermoelectric coolers are designed for medium to high heat pumping capacity requirements. Multi-stage thermoelectric modules are built with additional levels or "stages." Each additional stage allows for higher heat pumping capability and allows the thermoelectric to achieve a higher temperature co-efficient. The multistage cooler line offers superior cooling capabilities over single-stage coolers while maintaining their solid-state benefits.

Solid-State Cooling Market

APAC to Hold Largest Market Share During Forecast Period

The solid-state cooling market in APAC comprises China, Japan, South Korea, and the Rest of Asia Pacific, which includes Australia, India, New Zealand, Singapore, Thailand, Malaysia, Indonesia, the Philippines, and Taiwan. This region is estimated to account for the largest share in the global solid-state cooling market in 2019. 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. Growing industrialization and infrastructural developments, and stringent government regulations pertaining to energy sustainability are among the major drivers of this market. There is a huge demand in the solid-state cooling industry for beverage coolers and freezers, along with chillers and wine cabinets. Chinese companies offer solid-state cooling systems at a low rate as compared with other competitors. This is because China has advantages in thermoelectric production due to its extensive research base, cheap labor, and overhead costs, as well as manufacturing infrastructure.

Key Market Players

Key players operating in the solid-state cooling market are 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), Micropelt (Germany), Hi-Z Technology (US), HUI MAO (China), Hicooltec Electronic (China), Merit Technology Group (China), LG Innotek (China), Align Sourcing (US), AMS Technologies (Germany), Inheco Industrial Heating & Cooling (Germany), CUI Inc. (US), Wellen Technology (US), Advanced Thermoelectric (US), and Sheetak (US).

II-VI Marlow (US)

II-VI Marlow develops and manufactures thermoelectric modules and value-added systems for aerospace, defense, medical, industrial, automotive, power generation, and telecommunications markets. Marlow was acquired by a division of II-VI Incorporated. II-VI Marlow provides standard or custom modules and sub-assemblies to meet clients’ requirements. II-VI Marlow designs and manufactures TEMs for heating, cooling, and power generation applications in the telecommunications, defense, consumer electronics, and medical. A few II-VI Marlow’s customers are Bio-Rad Laboratories, Inc. (US), Raytheon Company (US), and Flextronics International Ltd. (Singapore). II-VI Marlow offers various services for thermoelectric modules such as R&D, custom designing and engineering, modelling and analysis, optimized manufacturing, and compliance and testing.

TE Technology (US)

TE Technology is experienced in designing cooling products and cold plates for laboratory, laser, aerospace, telecommunications, industrial, and commercial applications.
With more than 40 years of experience, the company has a wide range of heat sinks, thermoelectric modules, and vapor seals with special optimization. The company provides packages for thermoelectric assembly design, manufacturing, testing, and production. The company provides complete assembly in custom design with regard to the application’s requirements, mainly in temperature, size, weight, and power consumption. TE Technology designs and sells a wide range of test equipment. TE Technology carries out an exclusive series of tests that make sure that all assemblies are custom fit and efficient. TE Technology provides Peltier heat sinks, standard thermoelectric coolers, custom thermoelectric coolers, and solutions related to thermal management applications for the needs of large-, medium-, and small-scale companies. TE Technology offers thermoelectric coolers for a variety of applications. The company designs and manufactures thermoelectric cold plates, liquid coolers, and thermoelectric coolers for thermoelectric cooling applications that demand extremely high reliability. The company also offers a complete line of thermoelectric (Peltier) cooling modules, temperature controllers, Peltier coolers, and power supplies.

Ferrotec Corporation (US)

The company designs and manufactures general-purpose, deep-cooling, customized thermoelectric modules. In addition, the company provides sales and technical support for commercial and technical requirements related to thermoelectric modules across the world. As the company offers more than 136 different types of thermoelectric modules including multistage and custom modules in various shapes and sizes, the company’s general-purpose thermoelectric modules are used for a wide range of cooling and precision temperature control applications. Deep-cooling multi-stage thermoelectric modules are suitable for low-temperature applications such as in infrared (IR) detectors, charge-coupled device (CCD) arrays, and electro-optics. The demand for the company’s products is high in telecom, biomedical, automotive, power generation industries, as well as in instrumentation and consumer electronic applications. The company has significant footprint in the solid-state cooling market due to the presence of its 16 sales offices in more than 11 countries and 12 production bases. Furthermore, the company continues its growth in different economies such as Taiwan, Japan, the US, and the UK.

Scope of the Report

Report Metric

Details

Report Name

Solid-State Cooling Market

Market size available for years

2016–2024

Base year

2018

Forecast period

2019–2024

Forecast units

Value (USD million/thousand) and volume (million/billion units)

Segments Covered

By type, product, end-user industry, and  geography

Geographies Covered

North America, APAC, Europe, and Rest of the World

Companies Covered

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), P&N Technology (China).
Total 30 ecosystem players are covered.

This research report categorizes the solid-state cooling market based on type, product, end-user industry, and region.

By Type:

  • Single Stage
  • Multi Stage
  • Thermocycler

By Product:

  • Refrigeration System
    • Refrigerators
    • Freezers
  • Cooling System
    • Air Conditioners
    • Chillers

By End-user Industry:

  • Medical
  • Automotive
  • Consumer
  • Semiconductor & Electronics
  • Others (Research, Industrial, and Aerospace)

Geographic Analysis

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Recent Developments

  • In June 2018, Laird Thermal Systems expanded its TEM product family to protect critical electronic devices in emerging applications found in high temperature environments. The HiTemp ET Series delivers spot cooling to ensure the device’s maximum operating temperature does not exceed the ambient environment temperature.
  • In April 2018, Laird Thermal Systems has designed and manufactured TEMs and TEAs that keep laser optics stable by controlling the operating temperature of the medical laser within defined parameters. Excess waste heat generated from the laser head is removed by offering precise cooling below ambient via convection or conduction.
  • In February 2018, Crystal Ltd. launched new thermoelectric recirculation chiller CFC-250-TE-AIC. The final point of the light wave is the CCD. An important characteristic of a CCD is the sensitivity threshold. Sensitivity threshold is a parameter of a light recording device that characterizes the minimum value of a light signal that can be recorded. The lower this signal, the higher the sensitivity threshold.
  • In April 2017, TEC Microsystems launched portable Z-Meter DX4085 for thermoelectric coolers. 

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?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Study Objectives
    1.2 Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary and Primary Research
                    2.1.1.1 Key Industry Insights
           2.1.2 Secondary Data
                    2.1.2.1 List of Major Secondary Sources
                    2.1.2.2 Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Breakdown of Primaries
                    2.1.3.2 Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in Solid-State Cooling Market
    4.2 Market, By Type
    4.3 Market for Refrigeration System, By End-User Industry
    4.4 Market in Consumer Industry, By Product
    4.5 Market, By End-User Industry and Region
    4.6 Market, By Geography

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Awareness of Green Energy and Increasing Focus on Curbing Greenhouse Gas Emissions
                    5.2.1.2 Simultaneous Heating and Cooling Properties of Solid-State Cooling Systems
                    5.2.1.3 Rising Demand for Precise Temperature Control and Below Ambient Cooling
           5.2.2 Restraints
                    5.2.2.1 Solid-State Cooling Systems Costs Higher Than Conventional Cooling and Refrigeration Systems
                    5.2.2.2 Low Energy Conversion Efficiency Rate of Single-Stage Solid-State Cooling Modules
           5.2.3 Opportunities
                    5.2.3.1 Increasing Use of Solid-State Cooling Systems in Various Applications
                    5.2.3.2 Rising Awareness By Various Governments
                    5.2.3.3 Growing Internet of Things Consequently Increases Demand for More Data Storage, Resulting in More Cooling Needs
           5.2.4 Challenges
                    5.2.4.1 Standard Solution Would Not Always Meet Customers’ Needs

6 Solid-State Cooling Market, By Product (Page No. - 40)
    6.1 Introduction
    6.2 Refrigeration System
           6.2.1 Refrigerators
                    6.2.1.1 Energy Efficiency is A Major Factor Driving Solid-State Cooling Market for Refrigerators
           6.2.2 Freezers
                    6.2.2.1 Solid-State Freezers are Compact, Quiet, and More Efficient Solution Traditional Freezers
    6.3 Cooling Systems
           6.3.1 Air Conditioners
                    6.3.1.1 Solid-State Based Air Conditioners have A Simple and Efficient Design
           6.3.2 Chillers
                    6.3.2.1 Solid-State Chillers Provide Extremely Fast and Accurate Temperature Control

7 Solid-State Cooling Market, By Type (Page No. - 52)
    7.1 Introduction
    7.2 Single Stage
           7.2.1 Single Stage Cooling Systems are Effective From A Few Mw to A Few Hundred Watts of Cooling Power
    7.3 Multi Stage
           7.3.1 The Multistage Cooler Line Offers Superior Cooling Capabilities Over Single Stage Coolers
    7.4 Thermocycler
           7.4.1 Pcr Thermocycler is One of the Most Commonly Used Thermocycler

8 Solid-State Cooling Market, By End-User Industry (Page No. - 57)
    8.1 Introduction
    8.2 Automotive
           8.2.1 Vehicle Cooling Systems, Temperature Controlled Seats, and Electric Vehicle Battery Cooling are Major Applications of Solid-State Cooling in Automotive
    8.3 Semiconductor and Electronics
           8.3.1 Laser Diode Cooling
                    8.3.1.1 Solid-State Cooling is Used for Precision Temperature Control to Improve Diode Output Levels and Maintain Wavelength Integrity
           8.3.2 Microprocessor Cooling
                    8.3.2.1 to Curb the Heat Generated By A Powerful Microprocessor, Solid State Cooling is Used in Microprocessor Cooling
           8.3.3 Semiconductor Wafer Probes
                    8.3.3.1 Solid-State Cooling Effect in Semiconductors Cause Carriers to Flow Due to Temperature Gradient and Cause Temperature Gradient When an Electrical Current is Applied.
    8.4 Healthcare
           8.4.1 The Ability of Precise and Accurate Temperature Control and Reliability Drives the Market for Solid-State Cooling Systems in the Healthcare Industry
    8.5 Consumer
           8.5.1 Refrigerators and Beverage Coolers are Some of the Major Products Where Solid-State Cooling is Used
    8.6 Others
           8.6.1 Research
                    8.6.1.1 Due to the Phenomenon of the Thermoelectric Effect, Thermal Energy is Converted Into Electrical Energy and Vice-Versa Which Can Be Used in A Lot of Scientific Application
           8.6.2 Industrial
                    8.6.2.1 Solid-State Cooling Modules Offer A Variety of Energy and Cost-Efficient Solutions in the Industrial Production and Processes.
           8.6.3 Aerospace
                    8.6.3.1 The Reduction of Weight Associated With the Thermal Management Systems and High Efficiency in Cooling Makes the Solid-State Cooling A Popular Choice in the Aerospace Industry

9 Geographic Analysis (Page No. - 72)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 The US is Estimated to Lead the North American Solid-State Cooling Market.
           9.2.2 Canada
                    9.2.2.1 Bio-Monitoring and Healthcare-Related Devices are the Major Applications of Solid-State Cooling in This Region
           9.2.3 Mexico
                    9.2.3.1 High Temperature, Contaminant Laden Air, Humid, and Corrosive Atmospheres Need Solid-State Coolers to Keep the Computer Systems in A Better Environment
    9.3 Europe
           9.3.1 UK
                    9.3.1.1 Telecom, Medical, Industrial and Consumer are Major Markets of Solid-State Cooling System
           9.3.2 Germany
                    9.3.2.1 Automotive Industry is Expected to Be A Major Driver for Solid-State Cooling Market in Germany
           9.3.3 France
                    9.3.3.1 Various Project of the Government in Terms of Heating and Cooling are Expected to Drive the Market
           9.3.4 Rest of Europe
                    9.3.4.1 Growing Demand for Beverage Coolers, Cabinet Displays, and Freezers is Expected to Drive the Solid-State Cooling Market
    9.4 APAC
           9.4.1 China
                    9.4.1.1 Solid-State Cooling Market in China is Estimated to Grow at the Highest CAGR
           9.4.2 Japan
                    9.4.2.1 Industrial and Automotive Sectors are Expected to Drive the Solid-State Cooling Market
           9.4.3 South Korea
                    9.4.3.1 Government Regulation is Expected to Be A Major Driver for the Growth of the Market
           9.4.4 Rest of APAC
                    9.4.4.1 Automotive Industry is Expected to Drive the Solid-State Cooling Market
    9.5 RoW
           9.5.1 Middle East and Africa
                    9.5.1.1 Adoption of Solid-State Cooling Devices in Various Applications is Expected to Drive the Market
           9.5.2 Africa
                    9.5.2.1 Government Regulations on Reducing Pollution and Greenhouse Gases is Expected to Drive the Solid-State Cooling Market

10 Competitive Landscape (Page No. - 95)
     10.1 Overview
     10.2 Market Ranking Analysis
     10.3 Competitive Scenario
             10.3.1 Product Launches and Developments, and Expansion
             10.3.2 Partnerships, Contracts, Acquisitions, and Agreements
     10.4 Competitive Leadership Mapping, 2018
             10.4.1 Visionary Leaders
             10.4.2 Innovators
             10.4.3 Dynamic Differentiators
             10.4.4 Emerging Companies

11 Company Profile (Page No. - 101)
     11.1 Key Players
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
             11.1.1 Ferrotec
             11.1.2 Laird Thermal Systems
             11.1.3 II-VI Marlow
             11.1.4 TE Technology
             11.1.5 TEC Microsystems
             11.1.6 Crystal Ltd.
             11.1.7 Kryotherm
             11.1.8 RMT Ltd
             11.1.9 Thermion Company
             11.1.10 Thermonamic Electronics
             11.1.11 Kelk Ltd.
* Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
     11.2 Start-Up Ecosystem
             11.2.1 Z-Max
             11.2.2 Alphabet Energy
             11.2.3 O-Flexx Technologies
             11.2.4 Phononic
             11.2.5 P&N Technology
     11.3 Other Important Players
             11.3.1 Everredtronics
             11.3.2 Micropelt
             11.3.3 HI-Z Technology
             11.3.4 HUI Mao
             11.3.5 Hicooltec Electronic
             11.3.6 Merit Technology Group
             11.3.7 LG Innotek
             11.3.8 Align Sourcing
             11.3.9 AMS Technologies
             11.3.10 Inheco Industrial Heating & Cooling
             11.3.11 CUI Inc.
             11.3.12 Wellen Technology
             11.3.13 Advanced Thermoelectric
             11.3.14 Sheetak

12 Appendix (Page No. - 139)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (62 Figures)

Table 1 Solid-State Cooling Market, By Product, 2016–2024 (USD Million)
Table 2 Market for Refrigeration Systems, By Device, 2016–2024 (USD Million)
Table 3 Market for Refrigeration System, By End-User Industry, 2016–2024 (USD Million)
Table 4 Market for Refrigeration System, By Region, 2016–2024 (USD Million)
Table 5 Market for Refrigeration Systems in North America, By Country, 2016–2024 (USD Thousand)
Table 6 Market for Refrigeration Systems in Europe, By Country, 2016–2024 (USD Million)
Table 7 Market for Refrigeration Systems in APAC, By Country, 2016–2024 (USD Million)
Table 8 Market for Refrigeration Systems in RoW, By Region, 2016–2024 (USD Million)
Table 9 Solid-State Cooling Market for Cooling Systems, By Device, 2016–2024 (USD Million)
Table 10 Market for Cooling Systems, By End-User Industry, 2016–2024 (USD Million)
Table 11 Market for Cooling Systems, By Region, 2016–2024 (USD Million)
Table 12 Market for Cooling Systems in North America, By Country, 2016–2024 (USD Million)
Table 13 Market for Cooling Systems in Europe, By Country, 2016–2024 (USD Million)
Table 14 Market for Cooling Systems in APAC, By Country, 2016–2024 (USD Million)
Table 15 Market for Cooling Systems in RoW, By Region, 2016–2024 (USD Million)
Table 16 Solid-State Cooling Market, By Type, 2016–2024 (USD Million)
Table 17 Single-Stage Solid-State Cooling Market, By Region, 2016–2024 (USD Million)
Table 18 Multi-Stage Solid-State Cooling Market, By Region, 2016–2024 (USD Million)
Table 19 Thermocycler Solid-State Cooling Market, By Region, 2016–2024 (USD Thousand)
Table 20 Market, By End-User Industry, 2016–2024 (USD Million)
Table 21 Market for Automotive, By Product, 2016–2024 (USD Million)
Table 22 Market for Automotive, By Region, 2016–2024 (USD Million)
Table 23 Market for Semiconductor and Electronics, By Product, 2016–2024 (USD Million)
Table 24 Market for Semiconductor & Electronics, By Region, 2016–2024 (USD Million)
Table 25 Market for Medical, By Product, 2016–2024 (USD Million)
Table 26 Market for Medical, By Region, 2016–2024 (USD Million)
Table 27 Market for Consumer, By Product, 2016–2024 (USD Million)
Table 28 Market for Consumer, By Region, 2016–2024 (USD Million)
Table 29 Market for Other Industries, By Product, 2016–2024 (USD Million)
Table 30 Market for Other Industries, By Region, 2016–2024 (USD Million)
Table 31 Market, By Region, 2016–2024 (USD Million)
Table 32 Market in North America, By Country, 2016–2024 (USD Million)
Table 33 Market in North America, By Product, 2016–2024 (USD Million)
Table 34 Market in North America, By End-User Industry, 2016–2024 (USD Million)
Table 35 Market in North America, By Type, 2016–2024 (USD Million)
Table 36 Market in US, By Product, 2016–2024 (USD Million)
Table 37 Market in Canada, By Product, 2016–2024 (USD Million)
Table 38 Market in Mexico, By Product, 2016–2024 (USD Thousand)
Table 39 Market in Europe, By Country, 2016–2024 (USD Million)
Table 40 Market in Europe, By Product, 2016–2024 (USD Million)
Table 41 Market in Europe, By End-User Industry, 2016–2024 (USD Million)
Table 42 Solid-State Cooling Market in Europe, By Type, 2016–2024 (USD Million)
Table 43 Market in UK, By Product, 2016–2024 (USD Million)
Table 44 Market in Germany, By Product, 2016–2024 (USD Million)
Table 45 Market in France, By Product, 2016–2024 (USD Million)
Table 46 Market in RoE, By Product, 2016–2024 (USD Million)
Table 47 Market in APAC, By Country, 2016–2024 (USD Million)
Table 48 Market in APAC, By Product, 2016–2024 (USD Million)
Table 49 Market in APAC, By End-User Industry, 2016–2024 (USD Million)
Table 50 Market in APAC, By Type, 2016–2024 (USD Million)
Table 51 Market in China, By Product, 2016–2024 (USD Million)
Table 52 Market in Japan, By Product, 2016–2024 (USD Million)
Table 53 Market in South Korea, By Product, 2016–2024 (USD Million)
Table 54 Market in RoAPAC, By Product, 2016–2024 (USD Million)
Table 55 Market in Middle East & Africa, By Product, 2016–2024 (USD Thousand)
Table 56 Market in RoW, By Region, 2016–2024 (USD Million)
Table 57 Market in RoW, By Product, 2016–2024 (USD Million)
Table 58 Market in RoW, By End-User Industry, 2016–2024 (USD Thousand)
Table 59 Market in RoW, By Type, 2016–2024 (USD Thousand)
Table 60 Market in South America, By Product, 2016–2024 (USD Million)
Table 61 10 Most Recent Product Launches in Solid-State Cooling Market
Table 62 4 Most Recent Partnerships, Contracts, Acquisitions, and Agreements in the Solid-State Cooling Market


List of Figures (39 Figures)

Figure 1 Research Design
Figure 2 Process Flow of Market Size Estimation
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Solid-State Cooling Market for Refrigeration System, By Product, 2018 & 2024 (USD Million)
Figure 7 Single-Stage Type to Hold Largest Size of Solid-State Cooling Market During Forecast Period
Figure 8 Automotive Industry to Grow at Highest CAGR in Solid-State Cooling Market During the Forecast Period
Figure 9 Solid-State Cooling Market in Automotive, By Region, 2018 & 2024 (USD Million)
Figure 10 APAC to Grow at Highest CAGR During Forecast Period
Figure 11 Growing Awareness of Green Energy and Increasing Focus on Curbing Greenhouse Gas Emissions is A Major Driver for the Growth of Solid-State Cooling Market
Figure 12 Single-Stage Type to Hold Largest Size of Solid-State Cooling Market During Forecast Period
Figure 13 Medical Industry to Hold Largest Size of Solid-State Cooling Market for Refigeration System During Forecast Period
Figure 14 Refrigeration System to Hold Larger Size of Solid-State Cooling Market During Forecast Period
Figure 15 Solid-State Cooling Market for Refrigeration Systems, By End-User Industry and Region
Figure 16 China to Grow at Highest CAGR in Solid-State Cooling Market During Forecast Period
Figure 17 Solid-State Cooling Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Solid-State Cooling Market, By Product
Figure 19 Refrigeration System to Grow at Higher CAGR During Forecast Period
Figure 20 Solid-State Cooling Market for Refrigeration System in APAC to Grow at Highest CAGR During Forecast Period
Figure 21 Air Conditioners in Cooling Systems to Grow at Higher CAGR During Forecast Period
Figure 22 APAC to Hold Largest Size of Solid-State Cooling Systems Market During Forecast Period
Figure 23 Solid-State Cooling Market for Thermocyclers to Grow at Highest CAGR During Forecast Period
Figure 24 APAC to Dominate the Market for Solid-State Cooling Systems Used in Automotive By 2024
Figure 25 APAC to Dominate Solid-State Cooling Market for Semi-Conductor and Electronics Industry During Forecast Period
Figure 26 Medical Refrigeration Products to Grow at Higher CAGR During Forecast Period
Figure 27 China to Grow at Highest CAGR Between 2019 & 2024
Figure 28 APAC to Dominate Solid-State Cooling Market During Forecast Period
Figure 29 North America: Market Snapshot
Figure 30 Single-Stage Type to Hold Largest Size of Solid-State Cooling Market in North America By 2024
Figure 31 Europe: Market Snapshot
Figure 32 APAC: Market Snapshot
Figure 33 China to Hold Largest Size of Solid-State Cooling Market in APAC By 2024
Figure 34 RoW: Market Snapshot
Figure 35 Solid-State Cooling Market in Middle East & Africa to Grow at A Higher CAGR in RoW During Forecast Period
Figure 36 Companies in Solid-State Cooling Market Adopted Product Launches as Key Growth Strategy From January 2016 to December 2018
Figure 37 Top 5 Players in Solid-State Cooling Market
Figure 38 Solid-State Cooling Market (Global) Competitive Leadership Mapping, 2018
Figure 39 Ferrotec Holdings Corporation: Company Snapshot

The study involves 4 major activities to estimate the size of the solid-state cooling market. Exhaustive secondary research has been conducted to collect information about the market, the peer market, and the parent market. To validate these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to for the identification and collection of information for this study. The other secondary sources used during the study included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard and silver-standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The solid-state cooling market comprises stakeholders such as raw material suppliers, processors, end product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of industrial IoT, automation systems, and industrial monitoring and control. The supply side is characterized by advancements in technology and diverse use cases. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents

Solid-State Cooling Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the solid-state cooling market. These methods have also been used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • Key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size through the estimation process explained above, the total market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market has been validated using both top-down and bottom-up approaches.

Report Objectives

  • To describe and forecast the solid-state cooling market, in terms of value, by product, type, and end-user industry
  • To describe and forecast the solid-state cooling market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall solid-state cooling market
  • To profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze the competitive developments such as mergers and
    acquisitions, product developments, and ongoing research and development (R&D) in the solid-state cooling market
  • To provide the illustrative segmentation, analysis, and projection of the main regional markets

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players based on various blocks of the value chain

Regional Analysis

  • Further breakdown of regions into countries, by product
  • Further breakdown of regions into countries, by end user
Report Code
SE 7273
Published ON
Aug, 2019
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