The future of the magnetic refrigeration market looks promising with opportunities in the domestic, commercial, transportation, and industrial sectors. The global magnetic refrigeration market is expected to grow with a CAGR of 82.5% from 2021 to 2026. The major drivers for this market are increasing focus on green technology, increasing adoption in transportation and industrial sector, and increasing demand for energy-efficient system.
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In this market, different types of magnetic refrigeration, such as refrigeration system (refrigerators, cabinet display, freezers, ice makers, beverage coolers, and ice cream cabinets), air conditioning system (stationary air conditioners, mobile air conditioners, and chillers), and heat pumps are used in a wide range of industries. Lucintel forecasts that mobile air conditioners will remain the largest segment due to increasing adoption in commercial and industrial sectors.
Within the magnetic refrigeration market, commercial will remain the largest end use industry during the forecast period due to high demand of low energy consumption technology and increasing usage in various commercial applications such as retail stores, hotel, confectionaries, and others.
Europe will remain the largest region during the forecast period due to increasing awareness of various governments on global warming and ozone depletion.
Cooltech Applications, Camfridge Ltd, Astronautics Corporation of America, Whirlpool Corporation, Qingdao Haier Co. Ltd., BASF SE, Eramet S.A., Samsung Electronics Co., Ltd., Toshiba Corporation, VACUUMSCHMELZE GMBH & CO. KG, and Sigma-Aldrich Corporation are among the major magnetic refrigeration manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global magnetic refrigeration market by product type, material, end use industry, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Magnetic Refrigeration Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global magnetic refrigeration market by product type, material, end use industry, and region as follows:
By Product Type [$M shipment analysis for 2015 – 2026]:
Refrigeration Systems
Refrigerators
Cabinet Displays
Freezers
Beverage Coolers
Ice Cream Cabinets
Air Conditioning Systems
Stationary Air Conditioners
Mobile Air Conditioners
Chillers
Heat Pumps
By Material [$M shipment analysis for 2015 – 2026]:
Gadolinium and Dysprosium Alloys
Erbium
Germanium
Aluminum
By End Use Industry [$M shipment analysis for 2015 – 2026]:
Consumer Electronics
Manufacturing
Automotive
Healthcare
Telecommunications
Aerospace & Defense
Media and Entertainment
Servers and Data Centers
Others
By Region [$M shipment analysis for 2015 – 2026]:
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Asia Pacific
China
Japan
India
South Korea
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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