Magnetic Refrigeration Market- Global Industry Analysis and Forecast (2023-2029)


The Magnetic Refrigeration Market is expected to grow at a CAGR of 4.41% during the forecast period and it is expected to reach US$ 180.74 Mn. by 2029.

The objective of the report is to present a comprehensive assessment of the Market and contains thoughtful insights, facts, historical data, industry-validated Market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Magnetic Refrigeration Market dynamics, structure by identifying and analyzing the Market segments and project the global Market size. Further, the report also focuses on the competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global Magnetic Refrigeration Market.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Magnetic Refrigeration Market Snapshot

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Magnetic refrigeration is a cooling technique. It can be used to achieve very low temperatures, as well as the ranges used in common refrigerators. The magnetic refrigeration technology works on the principle of magnetocaloric effect. Magnetic refrigeration has some advantages, such as higher efficiency, large temperature range, and environmental sustainability over its conventional counterparts.

The major driving factors of the global Magnetic Refrigeration Market are growing focus on green technology, low maintenance cost, high energy efficiency and the operative characteristic of magnetic refrigeration like lower cost, high product life cycle and lightweight.

The key restraint of the global magnetic refrigeration market is a high initial investment, the restricted field strength of permanent magnets and high precision required by moving machines.

The key challenges to the development of this market need for appropriate magnetocaloric materials. Increasing adoption of magnetic refrigeration in the transportation area and high potential in the industrial sector creates the various opportunities in this market.

Magnetic refrigeration systems will be combined first in refrigeration products such as refrigerators, beverage coolers, cabinet displays, freezers, and ice cream cabinets. Air conditioners and heat pumps are expected to hold the largest share of the Magnetic refrigeration market due to the companies are still working to resolve the difficulties related to air conditioners and heat pumps and rising pressure from governments to remove the use of harmful greenhouse gases is forcing the companies to discover substitutions to vapor compressors.

Europe is expected to lead the magnetic refrigeration market during the forecast period. European Union’s enterprise to check global warming and ozone depletion by banning high-GWP refrigerants is the main driver for the growth of the magnetic refrigeration in the region. The European Union approved a new F-gas regulation that stresses on preventive the total amount of F-gases that can be sold, prohibition the use of F-gases in apparatus such as fridges in homes or supermarkets, air conditioners, and foams and aerosols, as well as to avoid the emissions of F-gases from current equipment over regular checks and maintenance.

In upcoming years, adoption of magnetic refrigeration in the transportation sector is anticipated to generate a new opportunity for the magnetic refrigeration manufactures.

Magnetic Refrigeration Market Scope: Inquire before buying






Magnetic Refrigeration Market




Report Coverage
Details




Base Year:
2022
Forecast Period:
2023-2029




Historical Data:
2018 to 2022
Market Size in 2022:
US $ 133.61 Mn.




Forecast Period 2023 to 2029 CAGR:
4.41%
Market Size in 2029:
US $ 180.74 Mn.




 Segments Covered:
by Product
Refrigeration Systems
Air Conditioning Systems
Heat Pumps




by Application
Domestic
Commercial
Transportation
Industrial
Others






Magnetic Refrigeration Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

Magnetic Refrigeration Market, Key Players are

1. Cooltech Applications
2. Camfridge Ltd
3. Astronautics Corporation of America
4. Whirlpool Corporation
5. Qingdao Haier Co., Ltd
6. BASF SE
7. Eramet S.A.
8. Samsung Electronics Co., Ltd
9. Toshiba Corporation
10. Vacuumschmelze GmbH & Co. Kg
11. Sigma-Aldrich Corporation
12. Ubiblue
13. Haier Smart Home Co., Ltd
14. Samsung Electronics Co., Ltd
15. General Electric
16. Magnotherm Solutions
17. ALTO Refrigeration Manufacturing Co., Ltd.
18. kiutra

Frequently Asked Questions:

1. Which region has the largest share in Global Magnetic Refrigeration Market?
Ans: Europe region held the highest share in 2022.

2. What is the growth rate of Global Magnetic Refrigeration Market?
Ans: The Global Magnetic Refrigeration Market is growing at a CAGR of 4.41% during forecasting period 2023-2029.

3. What is scope of the Global Magnetic Refrigeration Market report?
Ans: Global Magnetic Refrigeration Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Magnetic Refrigeration Market?
Ans: The important key players in the Global Magnetic Refrigeration Market are – 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, Sigma-Aldrich Corporation, Ubiblue, Haier Smart Home Co., Ltd, Samsung Electronics Co., Ltd, General Electric, Magnotherm Solutions, ALTO Refrigeration Manufacturing Co., Ltd., and kiutra

5. What is the study period of this Market?
Ans: The Global Market is studied from 2022 to 2029. 





Global Magnetic Refrigeration Market

1. Preface
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
1.3. Research Objectives

2. Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Abbreviations
2.3. Research Methodology
2.3.1. Secondary Research
2.3.1.1. Secondary data
2.3.1.2. Secondary Sources
2.3.2. Primary Research
2.3.2.1. Data from Primary Sources
2.3.2.2. Breakdown of Primary Sources

3. Executive Summary: Global Magnetic Refrigeration Market, by Market Value (US$ Bn) and Market Volume (Units)

4. Market Overview
4.1. Introduction
4.2. Market Indicator
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Porter’s Analysis
4.4. Value Chain Analysis
4.5. Market Risk Analysis
4.6. SWOT Analysis
4.7. Global Magnetic Refrigeration Market Industry Trends and Emerging Technologies
4.8. Patent Registration

5. Supply Side and Demand Side Indicators
6. Global Magnetic Refrigeration Market Analysis and Forecast
6.1. Global Magnetic Refrigeration Market Size & Y-o-Y Growth Analysis
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Middle East & Africa
6.1.5. South America

7. Global Magnetic Refrigeration Market Analysis and Forecast, by Product
7.1. Introduction and Definition
7.2. Key Findings
7.3. Global Magnetic Refrigeration Market Value Share Analysis, by Product
7.4. Global Magnetic Refrigeration Market Size (US$ Bn) Forecast, by Product
7.5. Global Magnetic Refrigeration Market Analysis, by Product
7.6. Global Magnetic Refrigeration Market Attractiveness Analysis, by Product

8. Global Magnetic Refrigeration Market Analysis and Forecast, by Application
8.1. Introduction and Definition
8.2. Key Findings
8.3. Global Magnetic Refrigeration Market Value Share Analysis, by Application
8.4. Global Magnetic Refrigeration Market Size (US$ Bn) Forecast, by Application
8.5. Global Magnetic Refrigeration Market Analysis, by Application
8.6. Global Magnetic Refrigeration Market Attractiveness Analysis, by Application

9. Global Magnetic Refrigeration Market Analysis, by Region
9.1. Global Magnetic Refrigeration Market Value Share Analysis, by Region
9.2. Global Magnetic Refrigeration Market Size (US$ Bn) Forecast, by Region
9.3. Global Magnetic Refrigeration Market Attractiveness Analysis, by Region
9.4. North America Magnetic Refrigeration Market Value Share Analysis, by Product
9.5. North America Magnetic Refrigeration Market Forecast, by Product
9.5.1. Refrigeration Systems
9.5.2. Air Conditioning Systems
9.5.3. Heat Pumps

9.6. North America Magnetic Refrigeration Market Value Share Analysis, by Application
9.7. North America Magnetic Refrigeration Market Forecast, by Application
9.7.1. Domestic
9.7.2. Commercial
9.7.3. Transportation
9.7.4. Industrial
9.7.5. Others
9.8. North America Magnetic Refrigeration Market Value Share Analysis, by Country
9.9. North America Magnetic Refrigeration Market Forecast, by Country
9.9.1. U.S.
9.9.2. Canada
9.10. North America Magnetic Refrigeration Market Analysis, by Country
9.11. U.S. Magnetic Refrigeration Market Forecast, by Product
9.11.1. Refrigeration Systems
9.11.2. Air Conditioning Systems
9.11.3. Heat Pumps

9.12. U.S. Magnetic Refrigeration Market Forecast, by Application
9.12.1. Domestic
9.12.2. Commercial
9.12.3. Transportation
9.12.4. Industrial
9.12.5. Others

9.13. Canada Magnetic Refrigeration Market Forecast, by Product
9.13.1. Refrigeration Systems
9.13.2. Air Conditioning Systems
9.13.3. Heat Pumps
9.14. Canada Magnetic Refrigeration Market Forecast, by Application
9.14.1. Domestic
9.14.2. Commercial
9.14.3. Transportation
9.14.4. Industrial
9.14.5. Others
9.15. North America Magnetic Refrigeration Market Attractiveness Analysis
9.15.1. By Product
9.15.2. By Application
9.16. PEST Analysis
9.17. Key Trends
9.18. Key Developments

10. Europe Magnetic Refrigeration Market Analysis
10.1. Key Findings
10.2. Europe Magnetic Refrigeration Market Overview
10.3. Europe Magnetic Refrigeration Market Value Share Analysis, by Product
10.4. Europe Magnetic Refrigeration Market Forecast, by Product
10.4.1. Refrigeration Systems
10.4.2. Air Conditioning Systems
10.4.3. Heat Pumps
10.5. Europe Magnetic Refrigeration Market Value Share Analysis, by Application
10.6. Europe Magnetic Refrigeration Market Forecast, by Application
10.6.1. Domestic
10.6.2. Commercial
10.6.3. Transportation
10.6.4. Industrial
10.6.5. Others
10.7. Europe Magnetic Refrigeration Market Value Share Analysis, by Country
10.8. Europe Magnetic Refrigeration Market Forecast, by Country
10.8.1. Germany
10.8.2. U.K.
10.8.3. France
10.8.4. Italy
10.8.5. Spain
10.8.6. Rest of Europe
10.9. Europe Magnetic Refrigeration Market Analysis, by Country
10.10. Germany Magnetic Refrigeration Market Forecast, by Product
10.10.1. Refrigeration Systems
10.10.2. Air Conditioning Systems
10.10.3. Heat Pumps
10.11. Germany Magnetic Refrigeration Market Forecast, by Application
10.11.1. Domestic
10.11.2. Commercial
10.11.3. Transportation
10.11.4. Industrial
10.11.5. Others
10.12. U.K. Magnetic Refrigeration Market Forecast, by Product
10.12.1. Refrigeration Systems
10.12.2. Air Conditioning Systems
10.12.3. Heat Pumps
10.13. U.K. Magnetic Refrigeration Market Forecast, by Application
10.13.1. Domestic
10.13.2. Commercial
10.13.3. Transportation
10.13.4. Industrial
10.13.5. Others
10.14. France Magnetic Refrigeration Market Forecast, by Product
10.14.1. Refrigeration Systems
10.14.2. Air Conditioning Systems
10.14.3. Heat Pumps
10.15. France Magnetic Refrigeration Market Forecast, by Application
10.15.1. Domestic
10.15.2. Commercial
10.15.3. Transportation
10.15.4. Industrial
10.15.5. Others
10.16. Italy Magnetic Refrigeration Market Forecast, by Product
10.16.1. Refrigeration Systems
10.16.2. Air Conditioning Systems
10.16.3. Heat Pumps
10.17. Italy Magnetic Refrigeration Market Forecast, by Application
10.17.1. Domestic
10.17.2. Commercial
10.17.3. Transportation
10.17.4. Industrial
10.17.5. Others
10.18. Spain Magnetic Refrigeration Market Forecast, by Product
10.18.1. Refrigeration Systems
10.18.2. Air Conditioning Systems
10.18.3. Heat Pumps
10.19. Spain Magnetic Refrigeration Market Forecast, by Application
10.19.1. Domestic
10.19.2. Commercial
10.19.3. Transportation
10.19.4. Industrial
10.19.5. Others
10.20. Rest of Europe Magnetic Refrigeration Market Forecast, by Product
10.20.1. Refrigeration Systems
10.20.2. Air Conditioning Systems
10.20.3. Heat Pumps
10.21. Rest of Europe Magnetic Refrigeration Market Forecast, by Application
10.21.1. Domestic
10.21.2. Commercial
10.21.3. Transportation
10.21.4. Industrial
10.21.5. Others
10.22. Europe Magnetic Refrigeration Market Attractiveness Analysis
10.22.1. By Product
10.22.2. By Application
10.23. PEST Analysis
10.24. Key Trends
10.25. Key Developments

11. Asia Pacific Magnetic Refrigeration Market Analysis
11.1. Key Findings
11.2. Asia Pacific Magnetic Refrigeration Market Overview
11.3. Asia Pacific Magnetic Refrigeration Market Value Share Analysis, by Product
11.4. Asia Pacific Magnetic Refrigeration Market Forecast, by Product
11.4.1. Refrigeration Systems
11.4.2. Air Conditioning Systems
11.4.3. Heat Pumps ace
11.5. Asia Pacific Magnetic Refrigeration Market Value Share Analysis, by Application
11.6. Asia Pacific Magnetic Refrigeration Market Forecast, by Application
11.6.1. Domestic
11.6.2. Commercial
11.6.3. Transportation
11.6.4. Industrial
11.6.5. Others
11.7. Asia Pacific Magnetic Refrigeration Market Value Share Analysis, by Country
11.8. Asia Pacific Magnetic Refrigeration Market Forecast, by Country
11.8.1. China
11.8.2. India
11.8.3. Japan
11.8.4. ASEAN
11.8.5. Rest of Asia Pacific
11.9. Asia Pacific Magnetic Refrigeration Market Analysis, by Country
11.10. China Magnetic Refrigeration Market Forecast, by Product
11.10.1. Refrigeration Systems
11.10.2. Air Conditioning Systems
11.10.3. Heat Pumps
11.11. China Magnetic Refrigeration Market Forecast, by Application
11.11.1. Domestic
11.11.2. Commercial
11.11.3. Transportation
11.11.4. Industrial
11.11.5. Others
11.12. India Magnetic Refrigeration Market Forecast, by Product
11.12.1. Refrigeration Systems
11.12.2. Air Conditioning Systems
11.12.3. Heat Pumps
11.13. India Magnetic Refrigeration Market Forecast, by Application
11.13.1. Domestic
11.13.2. Commercial
11.13.3. Transportation
11.13.4. Industrial
11.13.5. Others
11.14. Japan Magnetic Refrigeration Market Forecast, by Product
11.14.1. Refrigeration Systems
11.14.2. Air Conditioning Systems
11.14.3. Heat Pumps
11.15. Japan Magnetic Refrigeration Market Forecast, by Application
11.15.1. Domestic
11.15.2. Commercial
11.15.3. Transportation
11.15.4. Industrial
11.15.5. Others

11.16. ASEAN Magnetic Refrigeration Market Forecast, by Product
11.16.1. Refrigeration Systems
11.16.2. Air Conditioning Systems
11.16.3. Heat Pumps
11.17. ASEAN Magnetic Refrigeration Market Forecast, by Application
11.17.1. Domestic
11.17.2. Commercial
11.17.3. Transportation
11.17.4. Industrial
11.17.5. Others
11.18. Rest of Asia Pacific Magnetic Refrigeration Market Forecast, by Product
11.18.1. Refrigeration Systems
11.18.2. Air Conditioning Systems
11.18.3. Heat Pumps
11.19. Rest of Asia Pacific Magnetic Refrigeration Market Forecast, by Application
11.19.1. Domestic
11.19.2. Commercial
11.19.3. Transportation
11.19.4. Industrial
11.19.5. Others
11.20. Asia Pacific Magnetic Refrigeration Market Attractiveness Analysis
11.20.1. By Product
11.20.2. By Application
11.21. PEST Analysis
11.22. Key Trends
11.23. Key Developments

12. Middle East & Africa Magnetic Refrigeration Market Analysis
12.1. Key Findings
12.2. Middle East & Africa Magnetic Refrigeration Market Overview
12.3. Middle East & Africa Magnetic Refrigeration Market Value Share Analysis, by Product
12.4. Middle East & Africa Magnetic Refrigeration Market Forecast, by Product
12.4.1. Refrigeration Systems
12.4.2. Air Conditioning Systems
12.4.3. Heat Pumps
12.5. Middle East & Africa Magnetic Refrigeration Market Value Share Analysis, by Application
12.6. Middle East & Africa Magnetic Refrigeration Market Forecast, by Application
12.6.1. Domestic
12.6.2. Commercial
12.6.3. Transportation
12.6.4. Industrial
12.6.5. Others
12.7. Middle East & Africa Magnetic Refrigeration Market Value Share Analysis, by Country
12.8. Middle East & Africa Magnetic Refrigeration Market Forecast, by Country
12.8.1. GCC
12.8.2. South Africa
12.8.3. Rest of Middle East & Africa
12.9. Middle East & Africa Magnetic Refrigeration Market Analysis, by Country
12.10. GCC Magnetic Refrigeration Market Forecast, by Product
12.10.1. Refrigeration Systems
12.10.2. Air Conditioning Systems
12.10.3. Heat Pumps
12.11. GCC Magnetic Refrigeration Market Forecast, by Application
12.11.1. Domestic
12.11.2. Commercial
12.11.3. Transportation
12.11.4. Industrial
12.11.5. Others
12.12. South Africa Magnetic Refrigeration Market Forecast, by Product
12.12.1. Refrigeration Systems
12.12.2. Air Conditioning Systems
12.12.3. Heat Pumps
12.13. South Africa Magnetic Refrigeration Market Forecast, by Application
12.13.1. Domestic
12.13.2. Commercial
12.13.3. Transportation
12.13.4. Industrial
12.13.5. Others
12.14. Rest of Middle East & Africa Magnetic Refrigeration Market Forecast, by Product
12.14.1. Refrigeration Systems
12.14.2. Air Conditioning Systems
12.14.3. Heat Pumps
12.15. Rest of Middle East & Africa Magnetic Refrigeration Market Forecast, by Application
12.15.1. Domestic
12.15.2. Commercial
12.15.3. Transportation
12.15.4. Industrial
12.15.5. Others
12.16. Middle East & Africa Magnetic Refrigeration Market Attractiveness Analysis
12.16.1. By Product
12.16.2. By Application
12.17. PEST Analysis
12.18. Key Trends
12.19. Key Developments

13. South America Magnetic Refrigeration Market Analysis
13.1. Key Findings
13.2. South America Magnetic Refrigeration Market Overview
13.3. South America Magnetic Refrigeration Market Value Share Analysis, by Product
13.4. South America Magnetic Refrigeration Market Forecast, by Product
13.4.1. Refrigeration Systems
13.4.2. Air Conditioning Systems
13.4.3. Heat Pumps
13.5. South America Magnetic Refrigeration Market Value Share Analysis, by Application
13.6. South America Magnetic Refrigeration Market Forecast, by Application
13.6.1. Domestic
13.6.2. Commercial
13.6.3. Transportation
13.6.4. Industrial
13.6.5. Others
13.7. South America Magnetic Refrigeration Market Value Share Analysis, by Country
13.8. South America Magnetic Refrigeration Market Forecast, by Country
13.8.1. Brazil
13.8.2. Mexico
13.8.3. Rest of South America
13.9. Brazil Magnetic Refrigeration Market Forecast, by Product
13.9.1. Refrigeration Systems
13.9.2. Air Conditioning Systems
13.9.3. Heat Pumps
13.10. Brazil Magnetic Refrigeration Market Forecast, by Application
13.10.1. Domestic
13.10.2. Commercial
13.10.3. Transportation
13.10.4. Industrial
13.10.5. Others
13.11. Mexico Magnetic Refrigeration Market Forecast, by Product
13.11.1. Refrigeration Systems
13.11.2. Air Conditioning Systems
13.11.3. Heat Pumps pace
13.12. Mexico Magnetic Refrigeration Market Forecast, by Application
13.12.1. Domestic
13.12.2. Commercial
13.12.3. Transportation
13.12.4. Industrial
13.12.5. Others
13.13. Rest of South America Magnetic Refrigeration Market Forecast, by Product
13.13.1. Refrigeration Systems
13.13.2. Air Conditioning Systems
13.13.3. Heat Pumps
13.14. Rest of South America Magnetic Refrigeration Market Forecast, by Application
13.14.1. Domestic
13.14.2. Commercial
13.14.3. Transportation
13.14.4. Industrial
13.14.5. Others
13.15. South America Magnetic Refrigeration Market Attractiveness Analysis
13.15.1. By Product
13.15.2. By Application
13.16. PEST Analysis
13.17. Key Trends
13.18. Key Developments

14. Company Profiles
14.1. Market Share Analysis, by Company
14.2. Competition Matrix
14.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment
14.2.2. New Product Launches and Product Enhancements
14.2.3. Market Consolidation
14.2.3.1. M&A by Regions, Investment and Applications
14.2.3.2. M&A Key Players, Forward Integration and Backward
Integration
14.3. Company Profiles: Key Players
14.3.1. Cooltech Applications
14.3.1.1. Company Overview
14.3.1.2. Financial Overview
14.3.1.3. Product Portfolio
14.3.1.4. Business Strategy
14.3.1.5. Recent Developments
14.3.1.6. Deployments Footprints
14.3.2. Camfridge Ltd
14.3.3. Astronautics Corporation of America
14.3.4. Whirlpool Corporation
14.3.5. Qingdao Haier Co., Ltd
14.3.6. BASF SE
14.3.7. Eramet S.A.
14.3.8. Samsung Electronics Co., Ltd
14.3.9. Toshiba Corporation
14.3.10. Vacuumschmelze GmbH & Co. Kg
14.3.11. Sigma-Aldrich Corporation
14.3.12. Ubiblue
14.3.13. Haier Smart Home Co., Ltd
14.3.14. Samsung Electronics Co., Ltd
14.3.15. General Electric
14.3.16. Magnotherm Solutions
14.3.17. ALTO Refrigeration Manufacturing Co., Ltd.
14.3.18. kiutra

15. Primary Key Insights
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