Solid State Cooling Market worth $1.5 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 27, 2024 /PRNewswire/ -- The global solid state cooling market is expected to be valued at USD 0.8 billion in 2024 and is projected to reach USD 1.5 billion by 2029; it is expected to grow at a CAGR of 13.6% from 2024 to 2029 according to a new report by MarketsandMarkets™. As companies and consumers seek innovative and sustainable cooling solutions, the solid-state cooling market continues to expand, driven by the need for more efficient thermal management solutions in an increasingly interconnected and energy-conscious world.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99786622

Browse in-depth TOC on "Solid State Cooling Market" 199 – Tables
60 – Figures
283 – Pages

Solid State Cooling Market Report Scope:

The solid state cooling market for refrigeration systems held the highest CAGR during the forecast period.

The solid-state cooling market for refrigeration systems is experiencing growth driven by the increasing demand for sustainable and energy-efficient cooling solutions across various applications such as food and beverage preservation, medical storage, and transportation refrigeration. Solid-state cooling technologies offer advantages over traditional compressor-based refrigeration systems, including lower energy consumption, reduced environmental impact, compact size, and silent operation. As companies and consumers prioritize sustainability and seek innovative cooling solutions, the solid-state cooling market for refrigeration systems continues to expand, offering efficient and reliable alternatives to conventional refrigeration methods. 

Solid state cooling market for electrocaloric technology to hold the highest CAGR during the forecast period.

The solid-state cooling market for electrocaloric technology is experiencing accelerated growth due to its potential to revolutionize thermal management with highly efficient and environmentally friendly cooling solutions. Electrocaloric materials exhibit rapid and reversible temperature changes in response to an applied electric field, offering advantages such as fast cooling rates, low energy consumption, and compatibility with semiconductor fabrication processes. With an increasing demand for sustainable cooling solutions in applications ranging from consumer electronics to automotive air conditioning, electrocaloric technology emerges as a promising avenue for innovation, driving the growth of the solid-state cooling market.

Solid state cooling market for thermocycler type to hold the highest CAGR during the forecast period.

The solid-state cooling market for thermocyclers is experiencing significant growth primarily due to the expanding applications of polymerase chain reaction (PCR) and other molecular biology techniques in fields such as biomedical research, clinical diagnostics, forensics, and agriculture. Thermocyclers require precise temperature control for DNA amplification, and solid-state cooling technologies offer advantages such as rapid temperature cycling, uniform heating and cooling, compact size, and reliability compared to traditional water bath or Peltier-based systems. As the demand for high-throughput and cost-effective DNA analysis grows, fueled by advancements in genomics, personalized medicine, and biotechnology, the adoption of solid-state cooling solutions for thermocyclers continues to increase, driving the growth of the market.

Solid state cooling market for automotive vertical to hold the highest CAGR during the forecast period.

The solid-state cooling market for the automotive vertical is witnessing significant growth due to the increasing demand for advanced thermal management solutions in modern vehicles. As automotive electronics and powertrain systems become more complex and compact, traditional cooling methods struggle to dissipate heat effectively, leading to reliability issues and reduced performance. Solid-state cooling technologies offer compact, efficient, and reliable solutions for cooling critical components such as batteries, power electronics, and LED lighting systems in electric vehicles (EVs), hybrid vehicles, and internal combustion engines. Additionally, the growing emphasis on vehicle electrification, energy efficiency, and passenger comfort further drives the adoption of solid-state cooling solutions in the automotive industry, propelling the growth of the market.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=99786622

Solid state cooling market for Asia Pacific to hold the highest CAGR during the forecast period.

The solid-state cooling industry in the Asia Pacific region is experiencing robust growth due to several factors, including rapid industrialization, increasing urbanization, technological advancements, and expanding consumer electronics and automotive sectors. As countries in the region witness rising disposable incomes and growing demand for electronic devices, there is a corresponding need for efficient and compact cooling solutions to maintain optimal performance and reliability. Additionally, government initiatives promoting energy efficiency and environmental sustainability further drive the adoption of solid-state cooling technologies in various industries, fueling the growth of the market in the Asia Pacific region.

Key Players

The Solid state cooling companies includes significant Tier I and II players like CUI Devices (US), Delta Electronics, Inc. (Taiwan), Ferrotec Holdings Corporation (Japan), Coherent Corp. (US), Laird Thermal Systems, Inc. (US), and others. These players have a strong market presence for Solid state cooling s across various North America, Europe, Asia Pacific, and RoW countries.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=99786622

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Hardware Security Modules Market Size, Share, Statistics and Industry Growth Analysis Report by Deployment Type (Cloud, On-premise), Type (LAN Based /Network Attached, PCI Based/Embedded Plugins, USB Based/Portable, Smart Cards), Application, Vertical and Region - Global Forecast to 2028

Embedded Security Market by Offering (Hardware (Secure Element, Embedded Sim, Hardware Token), Software, Services), Security Type (Authentication and Access Management, Payment, Content Protection), Application and Region - Global Forecast to 2028

Hardware Encryption Market by Product Type (External HDD, Internal HDD, SSD, Inline Network Encryptor, USB Flash Drive), Application (Consumer Electronics, Aerospace & Defense, Transportation, Healthcare) and Region – Forecast to 2027

Non-Volatile Memory Market by Type (Flash, EPROM, nvSRAM, EEPROM, 3D NAND, MRAM, FRAM, NRAM, ReRAM, PMC), Wafer Size (200 mm, 300mm), End-user (Consumer Electronics, Enterprise Storage, Healthcare, Automotive) and Region - Global Forecast to 2027

Solid State Drives Market (SSD Market) by Form Factor (2.5", 3.5", M.2, U.2/SFF 8639, FHHL/HHHL), Interface (SATA, SAS, PCIe), Technology (SLC, MLC, TLC), End-user (Enterprise, Client, Industrial, Automotive), and Geography - Global Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/solid-state-cooling-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/solid-state-cooling.asp

Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg