Global Magnetic Refrigeration Market is expected to rise from its initial estimated value of USD 23.71 billion in 2018 to an estimated value of USD 5669.09 billion by 2026, registering a CAGR of 98.3% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing concerns of parking amid growth in the number of refrigerators.
Not to mention, all the information covered in the report is assessed and validated by the market experts. This Global Magnetic Refrigeration Market Research Report gives an actionable market insight with which sustainable and profitable business strategies can be built. Global Magnetic Refrigeration Market also puts light on the new highs that will be made by the Semiconductors and Electronics industry in the forecast period 2019 – 2026. Moreover, understanding competitive landscape is another important aspect of this market report and hence the moves or actions of top market players and brands are analysed that range from product developments, products launches, acquisitions, mergers, joint ventures, future products to technologies.
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Magnetic refrigeration is based on the principle of Magnetocaloric Effect (MCE). Magnetocaloric effect is a phenomenon where Magnetocaloric materials gets heated up when they are immersed in the magnetic field and cool down when removed from it, almost instantly. Magnetic refrigeration is safer, compact, and quieter and it is higher cooling efficient as compared to the traditional gas compression refrigeration. A series of the magnetization-demagnetization cycles to the magneto caloric alloys is applied in a magnetic refrigeration system.
Key Market Competitors:
Few of the major competitors currently working in the magnetic refrigeration market are
- Cooltech Applications (France)
- Camfridge Ltd (UK)
- Astronautics Corporation of America (US),
- Whirlpool Corporation (US)
- Haier lnc (China)
- BASF SE (Germany)
- eramet. (France)
- SAMSUNG (South Korea)
- Toshiba Corporation (Japan)
- VACUUMSCHMELZE GMBH & CO. KG (Germany)
- Sigma-Aldrich Co. l(US ).
- Low energy consumption by magnetic refrigeration systems is going to drive the growth of this market
- Increasing focus on green technology is going to drive the growth of this market
- High cost of equipment is expected to act as a restraint to the market growth
- Lack of awareness regarding the benefits of magnetic refrigeration is also expected to act as a restraint to the market growth
Global magnetic refrigeration market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of magnetic refrigeration market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Table of Content:
01: Executive Summary
02: Scope of The Report
03: Market Landscape
04: Market Sizing
05: Market Segmentation by Product
06: Five Forces Analysis
07: Customer Landscape
08: Geographic Landscape
09: Decision Framework
10: Drivers and Challenges
11: Market Trends
12: Vendor Landscape
13: Vendor Analysis
Table of Contents Available For this Market Download Free TOC : https://databridgemarketresearch.com/toc/?dbmr=global-magnetic-refrigeration-market
Segmentation: Global Magnetic Refrigeration Market
- Refrigeration systems
- Cabinet Display Freezers
- Beverage Coolers
- Ice Cream Cabinets
- Air Conditioning Systems
- Stationary Air Conditioners
- Mobile Air Conditioners
- Heat Pumps
- Marine Parking Sensors
- Food & Beverage Processing
- North America
- South America
- Middle East & Africa
Key Developments in the Market:
- In 10th September 2016, Cooltech Applications, S.A. S., a leading magnetic refrigeration company, launched its first commercial magnetic refrigeration system (MRS). The magnetic cooling system uses a water coolant instead of a refrigerant gas which is an innovative approach that consumes minimal energy and eco-friendly in nature.
- On 5th January 2015, Haier, Astronautics, and BASF presented the first prototype of a magnetocaloric wine cooler at the International Consumer Electronics Show in Las Vegas/Nevada. Partners demonstrate the functional principle of innovative technology for energy efficient cooling.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
Scope of the Report:
- Market trends impacting the growth of the global beverage stabilizers market
- Trends of key regional and country-level markets for type, function and application.
- To get a comprehensive overview of the Xyz market.
- Historical, current and projected market size in terms of volume and value
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint.
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Contact: Data Bridge Market Research