Magnetic Refrigeration Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Report Code: ZMR-1718 | Report Format : | Status : Upcoming |

Abstract

Global Magnetic Refrigeration Market: Overview

Magnetic refrigeration technology is used for cooling purpose, which is based on magnetocaloric effect. The technology is commonly used in refrigerators to achieve exceptionally low temperatures. Normally hydrofluorocarbons are used in the conventional refrigeration system. Magnetic refrigeration is quieter, safer, has a higher cooling efficiency, is more compact, and an environmental friendly when compared with the conventional gas-compression refrigeration. The magnetic refrigeration does not use harmful, ozone-depleting coolant gases. Basic applications for the magnetic refrigeration are similar to that of conventional refrigeration.

Global Magnetic Refrigeration Market: Growth Factors

Magnetic refrigeration is highly adopted in the developed regions thus contributing for the largest market share. Magnetic refrigeration offers environmental benefits and energy efficiency which is improving the refrigeration market in the developed countries. Growing concerns regarding ozone layer depletion and resulting strict guidelines that are imposed for the use of safe and environment-friendly refrigeration system may give rise to the magnetic refrigeration market growth. The market penetration of the magnetic refrigeration system is high as it is free from harmful refrigerants thus will witness a robust market growth in the near future. Lightweight, lower cost and higher product life cycle of the magnetic refrigeration add extra benefits to the market; this is responsible for rapid market growth. Magnetic refrigeration has higher efficiency, environmental sustainability, and large temperature range when compared with the conventional counterparts.

Global Magnetic Refrigeration Market: Segmentation

The magnetic refrigeration market is segregated on the basis of application, product, and region. The application segment is classified into industrial refrigeration, domestic refrigeration, health care, refrigerated transportation & logistics, commercial refrigeration, food and beverages processing industries, automotive HVAC, and others. The commercial refrigeration is the leading application in the global market. The industrial refrigeration application segment is growing fast. The product segment is divided into beverages refrigeration, display cases, chillers, ice making machinery, air conditioning, heat pump, and others. Region-wise the magnetic refrigeration market is fragmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Global Magnetic Refrigeration Market: Regional Analysis

Western Europe is one of the largest markets for magnetic refrigeration and is expected to continue its growth in the coming years. North America emerged as a potential and fastest growing regional market. The higher growth rate in the region is owing to the stringent refrigerant regulation implemented by the government. High demand for magnetic refrigeration from the Asia Pacific region anticipates driving the magnetic refrigeration market. The U.S. is expected to offer new growth opportunities, other countries such as Japan, Germany, the U.K, China, Canada, Brazil, Italy, France, and India are also focusing on expanding the market. Rising importance of the magnetic refrigeration in the North America and Europe is fuelling the magnetic refrigeration market.

Global Magnetic Refrigeration Market: Competitive Players

Key market competitors present in the global magnetic refrigeration market include Whirlpool Corporation, Toshiba, Astronautics Corporation of America, Samsung Electronics, General Electric, BASF, Camfridge, Eramet, and Haier.

Global Magnetic Refrigeration Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Related Reports

Lamp Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-2046 | Report Format:

Global Lamp Market: Overview Electric bulb comprises a transparent container, wherein the voltage application energizes the gas making the bulb glow. These lamps are classified as high-intensity and fluorescent lamps. Fluorescent lamps are mercury vapor lamps with low weight and use fluorescence...Read More

Quality and Safety Reporting Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-2020 | Report Format:

Global Quality and Safety Reporting Systems Market: Overview One feature of the quality and safety reporting system is that it constantly keeps on tracking the quality measures that deal with the product, service, or workflow of the processes in an organization. This information is then regularl...Read More

Analog To Digital Converter Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-2018 | Report Format:

Global Analog To Digital Converter Market: Overview The electric device that helps in converting the analog signals such as temperature, voltage, distance, pressure, current, and others into digital signals which can be used further for computation, processing, manipulation, and storage is known...Read More

Sensing Cable Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-2016 | Report Format:

Global Sensing Cable Market: Overview A sensor is a device that senses or detects the changes that occur in the environment or surroundings. It can detect abnormalities, extreme conditions, and failures. Sensing cables detect the external failures and avoid the breakdown of the process or the ma...Read More

Fire and Explosion Proof Lights Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-2012 | Report Format:

Global Fire and Explosion Proof Lights Market: Overview In the fire and explosion proof lights, the components are protected within a cage. This cage can withstand any type of explosions thus protecting the surrounding against fire accidents. Fire and explosion proof lights are widely used in th...Read More

Choose License Type:
Latest Published Reports

View All Published Reports