Ferrotec Corporation (US) and Laird Thermal Systems (US) are Leading Players in the Solid-State Cooling Market
The global solid-state cooling market is estimated to be valued at USD 395 million in 2019 and is projected to reach USD 641 million by 2024, at a CAGR of 10.2%. 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 are the major drivers for the solid-state cooling market. Based on product, the solid-state cooling market is segmented into refrigeration and cooling systems. The solid-state cooling market, by type, is segmented into single stage, multi stage, and thermocycler. Based on end-user industry, the solid-state cooling market is segmented into as automotive, semiconductor and electronics, healthcare, consumer, and others. The market based on geography has been segmented into 4 main regions: North America, Europe, APAC, and RoW.
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). The players in this market have adopted various strategies to expand their global presence and increase their market shares.
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Ferrotec Corporation (US) 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.
Laird Thermal Systems (US) develops thermal management solutions for demanding applications across global medical, industrial, transportation, and telecommunications markets. The company manufactures a vast product portfolio ranging from active thermoelectric components and assemblies to temperature controllers and liquid cooling systems. By offering a broad range of design, prototyping, and in-house testing capabilities, the company also involves clients across the entire product development life cycle to reduce risk and accelerate time-to-market. The company has set-up a global manufacturing and support resources that help customers maximize productivity, uptime, performance, and product quality. The company has a variety of customized thermal solutions. In June 2018, the company expanded its thermoelectric module (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 that the maximum temperature of a device does not exceed the maximum operating temperature in ambient environments.
Related Reports:
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
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