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Solid-State Cooling Market - Industry Analysis and Market Forecast to 2024

The global solid-state cooling market is estimated to grow from USD 395 million in 2019 to USD 641 million by 2024, at a CAGR of 10.2%.<br>Major factors driving the solid-state cooling market growing awareness of green energy and increasing focus on curbing greenhouse gas emissions, simultaneous heating and cooling properties of solid-state cooling systems, and rising demand for precise temperature control and below ambient cooling.

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Solid-State Cooling Market - Industry Analysis and Market Forecast to 2024

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  1. MarketsandMarkets Presents Solid-State Cooling Market - Industry Analysis and Market Forecast to 2024 Solid-State Cooling Market by Product (Refrigeration System and Cooling System), Type (Single Stage, Multi Stage, and Thermocycler), End-User Industry (Automotive, Semiconductor and Electronics, Healthcare, Consumer), Region - Global Forecast to 2024 https://www.marketsandmarkets.com/Market-Reports/solid-state-cooling-market-99786622.html

  2. The global solid-state cooling market is estimated to grow from USD 395 million in 2019 to USD 641 million by 2024, at a CAGR of 10.2%. Major factors driving the solid-state cooling market growth include growing awareness of green energy and increasing focus on curbing greenhouse gas emissions, simultaneous heating and cooling properties of solid-state cooling systems, and rising demand for precise temperature control and below ambient cooling and expanding solid-state cooling applications in industries such as healthcare, automotive, and semiconductor and electrononics. higher costing than conventional cooling and refrigeration systems among the key factors restraining the growth of the market. Browse 62 market data Tables and 39 Figures spread through 146 Pages and in-depth TOC on "Solid-State Cooling Market - Global Forecast to 2024"

  3. Solid-State Cooling Market, by Product, for Air-Conditioners to Grow at Highest CAGR during Forecast Period Solid-state thermoelectric air-conditioners are compact, lightweight units used for cooling electronic cabinets, computer enclosures, electrical enclosures, instruments, telecommunication equipment, and many other industrial applications in a variety of environments. These air conditioners have a simple and efficient solid-state design that uses the Peltier effect to provide reliable performance without the use of harmful chlorofluorocarbons (CFCs). In the Peltier effect, a temperature difference is created by transferring heat between 2 electrical junctions. The temperature difference is created by the thermoelectric elements between the internal and external ambient heat sinks making internal air cooler while dissipating heat into the external environment. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=99786622 Solid-State Cooling Market for Multi-Stage Type in North America to Grow at Highest CAGR During Forecast Period A multi-stage module can be viewed as 2 or more single stages stacked on top of each other. These modules are also known as cascade modules. The multi stage thermoelectric modules should be used only when a single stage thermoelectric module does not fulfill the requirements of high-temperature differentials. The construction of a multi-stage module is usually of a pyramidal type—each lower stage is bigger than the upper stage. Once the top stage is used for cooling, the lower stage requires a greater cooling capacity to pump heat that is dissipated from the upper stage. The multi-stage thermoelectric coolers are designed for medium to high heat pumping capacity requirements.

  4. APAC to Hold Largest Market Share During Forecast Period The solid-state cooling market in APAC comprises China, Japan, South Korea, and the Rest of Asia Pacific, which includes Australia, India, New Zealand, Singapore, Thailand, Malaysia, Indonesia, the Philippines, and Taiwan. This region is estimated to account for the largest share in the global solid-state cooling market in 2019. Increased demand for consumer goods, industrial automation, and healthcare monitoring devices is expected to drive this market. With the use of solid-state cooling systems, higher efficiency levels, and energy harvesting can be achieved in this region. Growing industrialization and infrastructural developments, and stringent government regulations pertaining to energy sustainability are among the major drivers of this market. There is a huge demand in the solid-state cooling industry for beverage coolers and freezers, along with chillers and wine cabinets. Chinese companies offer solid-state cooling systems at a low rate as compared with other competitors. This is because China has advantages in thermoelectric production due to its extensive research base, cheap labor, and overhead costs, as well as manufacturing infrastructure. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=99786622 Key Market Players Key players operating in the solid-state cooling market are Ferrotec (Japan), Laird Thermal Systems (US), II-VI Marlow (US), TE Technology (US), TEC Microsystems (Germany), Crystal Ltd. (Russia), Kryotherm (Russia), RMT Ltd (Russia), Thermion Company (Ukraine), Thermonamic Electronics (China), Kelk Ltd. (Japan), Z-Max (Japan), Alphabet Energy (US), O-Flexx Technologies (Germany), Phononic (US), and P&N Technology (China). Other key players include Everredtronics. (China), Micropelt (Germany), Hi-Z Technology (US), HUI MAO (China), Hicooltec Electronic (China), Merit Technology Group (China), LG Innotek (China), Align Sourcing (US), AMS Technologies (Germany), Inheco Industrial Heating & Cooling (Germany), CUI Inc. (US), Wellen Technology (US), Advanced Thermoelectric (US), and Sheetak (US).

  5. TE Technology (US) TE Technology is experienced in designing cooling products and cold plates for laboratory, laser, aerospace, telecommunications, industrial, and commercial applications. With more than 40 years of experience, the company has a wide range of heat sinks, thermoelectric modules, and vapor seals with special optimization. The company provides packages for thermoelectric assembly design, manufacturing, testing, and production. The company provides complete assembly in custom design with regard to the application’s requirements, mainly in temperature, size, weight, and power consumption. TE Technology designs and sells a wide range of test equipment. TE Technology carries out an exclusive series of tests that make sure that all assemblies are custom fit and efficient. TE Technology provides Peltier heat sinks, standard thermoelectric coolers, custom thermoelectric coolers, and solutions related to thermal management applications for the needs of large-, medium-, and small-scale companies. TE Technology offers thermoelectric coolers for a variety of applications. Ferrotec Corporation (US) The company designs and manufactures general-purpose, deep-cooling, customized thermoelectric modules. In addition, the company provides sales and technical support for commercial and technical requirements related to thermoelectric modules across the world. As the company offers more than 136 different types of thermoelectric modules including multistage and custom modules in various shapes and sizes, the company’s general-purpose thermoelectric modules are used for a wide range of cooling and precision temperature control applications. Deep-cooling multi-stage thermoelectric modules are suitable for low-temperature applications such as in infrared (IR) detectors, charge-coupled device (CCD) arrays, and electro-optics. The demand for the company’s products is high in telecom, biomedical, automotive, power generation industries, as well as in instrumentation and consumer electronic applications.

  6. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

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