Market Overview:
The global magnetic refrigeration market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. Magnetic refrigeration is a technology that uses magnets and coils to create a cooling effect. This technology has the potential to be more efficient and environmentally friendly than traditional refrigeration technologies. The global magnetic refrigeration market is segmented by type, application, and region. By type, the market is divided into refrigerator systems, air conditioning systems, and heat pumps. By application, the market is segmented into domestic applications, commercial applications transportation applications industrial applications .
Product Definition:
Magnetic refrigeration is the use of magnets to induce a temperature difference in two objects, which can then be used to create a cooling effect. It has many potential applications, including in air conditioning and food preservation.
Refrigeration Systems:
Magnetic refrigeration is a method of cooling or freezing using magnets that are attracted to each other and repelled by heat. It can be used for both air-cooled and water-cooled systems. The technology was developed in the early 20th century, but did not enter widespread use until after World War II, owing to the limitations imposed on manufacturing activities due to the war effort.
Air Conditioning Systems:
An air conditioning system is a device that provides cooling to an area. It consists of various components such as a compressor, condenser, evaporator and other parts. The basic function of an air conditioner is to move heat from the warm room into the cool one by using forced air or another medium. An AC unit can be used in both residential and commercial places like offices, shopping malls etc., but it plays a major role in homes during summertime when it's too hot outside.
Application Insights:
The market is segmented by application into domestic, commercial and transportation and industrial. The domestic application segment dominated the global magnetic refrigeration market in 2017 owing to increasing disposable income among consumers in developing countries such as India, China and Brazil. This factor has led to an increase in demand for residential air conditioning systems which are more affordable than commercial systems. Furthermore, growth of the residential sector is expected to drive demand for HVAC (heating ventilation air conditioning) products over the forecast period due to increased consumer spending on home remodeling projects that include new construction or renovation of a kitchen or bathroom area.
Magnetic refrigeration technology can be used not only for cooling but also heating applications as it uses magnets created from ferrite materials that have high heat resistance properties along with low maintenance costs associated with them when compared with other technologies such as steam or gas-based heaters used currently across industries worldwide.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing awareness among people about maintaining proper temperature, which in turn drives demand for air conditioning systems and refrigeration systems. Moreover, growing trend of smart homes and connected devices will boost demand for smart cooling products over the next eight years.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising disposable income coupled with increased penetration of international brands such as Samsung Electronics Co., Ltd., LG Electronics Inc., Panasonic Corporation, Hitachi, Ltd., Mitsubishi Electric Corporation; Haier Limited; Toshiba Europe Semiconductor & Storage Systems Company; Ingersoll-Rand Plc.; Danfoss A/S; Honeywell International Inc.; Johnson Controls Asia Pacific Pte Ltd.
Growth Factors:
- Increasing demand for energy-efficient appliances
- Rising concerns over environmental pollution and global warming
- Growing popularity of magnetic refrigeration among commercial establishments
- Proliferation of internet of things (IoT) and big data analytics in the refrigeration sector
- Technological advancements in magnetic refrigeration systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnetic Refrigeration Market Research Report
By Type
Refrigeration Systems, Air Conditioning Systems, Heat Pumps
By Application
Domestic, Commercial, Transportation and Industrial
By Companies
Cooltech Applications (France), Camfridge (UK), Astronautics Corporation of America (US), Whirlpool (US), Qingdao Haier (China), BASF (Germany), Eramet (France), Samsung Electronics (South Korea), Toshiba (Japan), VACUUMSCHMELZE (Germany)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Magnetic Refrigeration Market Report Segments:
The global Magnetic Refrigeration market is segmented on the basis of:
Types
Refrigeration Systems, Air Conditioning Systems, Heat Pumps
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Domestic, Commercial, Transportation and Industrial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cooltech Applications (France)
- Camfridge (UK)
- Astronautics Corporation of America (US)
- Whirlpool (US)
- Qingdao Haier (China)
- BASF (Germany)
- Eramet (France)
- Samsung Electronics (South Korea)
- Toshiba (Japan)
- VACUUMSCHMELZE (Germany)
Highlights of The Magnetic Refrigeration Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Refrigeration Systems
- Air Conditioning Systems
- Heat Pumps
- By Application:
- Domestic
- Commercial
- Transportation and Industrial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Magnetic Refrigeration Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Magnetic refrigeration is a technology that uses magnets to cool and freeze food. The magnets create a powerful force that causes the air to circulate around the food, keeping it cold.
Some of the key players operating in the magnetic refrigeration market are Cooltech Applications (France), Camfridge (UK), Astronautics Corporation of America (US), Whirlpool (US), Qingdao Haier (China), BASF (Germany), Eramet (France), Samsung Electronics (South Korea), Toshiba (Japan), VACUUMSCHMELZE (Germany).
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Magnetic Refrigeration Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Magnetic Refrigeration Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Magnetic Refrigeration Market - Supply Chain
4.5. Global Magnetic Refrigeration Market Forecast
4.5.1. Magnetic Refrigeration Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Magnetic Refrigeration Market Size (000 Units) and Y-o-Y Growth
4.5.3. Magnetic Refrigeration Market Absolute $ Opportunity
5. Global Magnetic Refrigeration Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Magnetic Refrigeration Market Size and Volume Forecast by Type
5.3.1. Refrigeration Systems
5.3.2. Air Conditioning Systems
5.3.3. Heat Pumps
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Magnetic Refrigeration Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Magnetic Refrigeration Market Size and Volume Forecast by Application
6.3.1. Domestic
6.3.2. Commercial
6.3.3. Transportation and Industrial
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Magnetic Refrigeration Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Magnetic Refrigeration Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Magnetic Refrigeration Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Magnetic Refrigeration Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Magnetic Refrigeration Demand Share Forecast, 2019-2026
9. North America Magnetic Refrigeration Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Magnetic Refrigeration Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Magnetic Refrigeration Market Size and Volume Forecast by Application
9.4.1. Domestic
9.4.2. Commercial
9.4.3. Transportation and Industrial
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Magnetic Refrigeration Market Size and Volume Forecast by Type
9.7.1. Refrigeration Systems
9.7.2. Air Conditioning Systems
9.7.3. Heat Pumps
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Magnetic Refrigeration Demand Share Forecast, 2019-2026
10. Latin America Magnetic Refrigeration Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Magnetic Refrigeration Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Magnetic Refrigeration Market Size and Volume Forecast by Application
10.4.1. Domestic
10.4.2. Commercial
10.4.3. Transportation and Industrial
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Magnetic Refrigeration Market Size and Volume Forecast by Type
10.7.1. Refrigeration Systems
10.7.2. Air Conditioning Systems
10.7.3. Heat Pumps
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Magnetic Refrigeration Demand Share Forecast, 2019-2026
11. Europe Magnetic Refrigeration Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Magnetic Refrigeration Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Magnetic Refrigeration Market Size and Volume Forecast by Application
11.4.1. Domestic
11.4.2. Commercial
11.4.3. Transportation and Industrial
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Magnetic Refrigeration Market Size and Volume Forecast by Type
11.7.1. Refrigeration Systems
11.7.2. Air Conditioning Systems
11.7.3. Heat Pumps
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Magnetic Refrigeration Demand Share, 2019-2026
12. Asia Pacific Magnetic Refrigeration Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Magnetic Refrigeration Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Magnetic Refrigeration Market Size and Volume Forecast by Application
12.4.1. Domestic
12.4.2. Commercial
12.4.3. Transportation and Industrial
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Magnetic Refrigeration Market Size and Volume Forecast by Type
12.7.1. Refrigeration Systems
12.7.2. Air Conditioning Systems
12.7.3. Heat Pumps
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Magnetic Refrigeration Demand Share, 2019-2026
13. Middle East & Africa Magnetic Refrigeration Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Magnetic Refrigeration Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Magnetic Refrigeration Market Size and Volume Forecast by Application
13.4.1. Domestic
13.4.2. Commercial
13.4.3. Transportation and Industrial
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Magnetic Refrigeration Market Size and Volume Forecast by Type
13.7.1. Refrigeration Systems
13.7.2. Air Conditioning Systems
13.7.3. Heat Pumps
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Magnetic Refrigeration Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Magnetic Refrigeration Market: Market Share Analysis
14.2. Magnetic Refrigeration Distributors and Customers
14.3. Magnetic Refrigeration Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Cooltech Applications (France)
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Camfridge (UK)
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Astronautics Corporation of America (US)
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Whirlpool (US)
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Qingdao Haier (China)
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. BASF (Germany)
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Eramet (France)
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Samsung Electronics (South Korea)
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Toshiba (Japan)
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. VACUUMSCHMELZE (Germany)
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
