Global Magnetic Refrigeration Market is projected to reach a value of over USD 1.8 billion by 2027

Magnetic Refrigeration Market: Summary

The Global Magnetic Refrigeration Market is projected to reach a value of over USD 1.8 billion by 2027 t a CAGR of around 106.2%.

Magnetic refrigeration is refer to an environment friendly technology which is based upon magnetic solid. It is used for attain low temperature and common refrigerators temperature. It helps to improve device efficiency, reduce CO2 production with energy saving and its efficient. As well as it is one of the innovative, emerging and low carbon technology.

Hence, these will enhance the cooling technology with high energy efficiency and work as environmentally friendly refrigerants.

Magnetic Refrigeration Market: Drivers & Challenges

Market Driver:

  • Growing Demand of Green Technology

With the growing demand of green technology is witness to increase the demand of the market as it consumes less power to eliminate the use of hazardous fluids. By this, it helps to increase the adoption for the emerging environmentally friendly technology and improve the market growth. Also, it has the potential to reduce energy use by 30% and required no refrigerant. However, it also has the capacity to decrease the operational and maintenance cost with the compared to compressor based refrigeration.

Furthermore, it advance the food industries, pharmaceutical and chemical for the storage purpose of food, medicine, food production and also retailing purpose.

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Market Challenges:

  • High Investment Cost

One of the major key concern of the magnetic refrigeration market is high investment cost for the manufacturing the magnetic refrigerate alloy which will lead to hinder the growth of the market. Also, the magneto caloric materials are the rare earth materials, hence it present increase the disadvantages for the magnetic refrigeration market. Whereas, these materials are need to develop to allow large frequency of rotary magnetic refrigerators.

Hence, the change in temperature are also limited which may also hamper the growth of the market in the projected period.

Magnetic Refrigeration Market: Key Segments

  • Segmentation based on Materials Type: Gadolinium and Dysprosium Alloys, Erbium, Germanium and Aluminum.
  • Segmentation based on Components: Hot Heat Exchanger, Cold Heat Exchanger, Magneto Caloric Wheel and Others.
  • Segmentation based on Product Types: Heat Pumps, Refrigeration Systems and Air Conditioning Systems.
  • Segmentation based on End-Use: Logistic & Transportation, Healthcare, Aerospace, Food & Beverages, Commercial and Industrial.
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

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Magnetic Refrigeration Market: Report Scope

The report on the magnetic refrigeration market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2019–2027

Base Year for Market Calculation

2020

Forecasted Period

2021–2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Materials Type, Component, Product Type, Application and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South America

Key Companies Covered

  • Camfridge Ltd. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • BASF SE
  • SAMSUNG
  • VACUUMSCHMELZE GmbH & Co. KG
  • Astronautics Corporation of America
  • Qingdao Haier Co., Ltd.
  • Eramet
  • Whirlpool Corporation
  • TOSHIBA CORPORATION
  • Cooltech Applications
  • Other Key Companies

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Magnetic Refrigeration Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Magnetic Refrigeration Market, by Materials Type

  • Gadolinium And Dysprosium Alloys
  • Erbium
  • Germanium
  • Aluminum

Magnetic Refrigeration Market, by Component

  • Hot Heat Exchanger
  • Cold Heat Exchanger
  • Magneto Caloric Wheel
  • Others

Magnetic Refrigeration Market, by Product Type

  • Heat Pumps
  • Refrigeration Systems
  • Air Conditioning Systems

Magnetic Refrigeration Market, by Application

  • Logistic & Transportation
  • Healthcare
  • Aerospace
  • Food & Beverages
  • Commercial
  • Industrial

Magnetic Refrigeration Market, by Region

  • North America
  • US
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • Taiwan
  • South Korea
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • France
  • Italy
  • UK
  • Russia
  • Rest of Europe
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis

6 GLOBAL MAGNETIC REFRIGERATION MARKET BY MATERIAL TYPE, Market Size in USD Million (2019–2027)

7 GLOBAL MAGNETIC REFRIGERATION MARKET BY COMPONENT, Market Size in USD Million (2019–2027)

8 GLOBAL MAGNETIC REFRIGERATION MARKET BY PRODUCT TYPE, Market Size in USD Million (2019–2027)

9 GLOBAL MAGNETIC REFRIGERATION MARKET BY APPLICATION, Market Size in USD Million (2019–2027)

10 Competitive Landscape

11 Company Profiles

12 Appendix

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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