The magnetic refrigeration market is expected to be commercialized by 2021 at USD 4 million, and it is expected to grow at a CAGR of 105% from 2021 to 2027 to reach USD 165 million by 2027.
Magnetic cooling is based on the principle of the magnetocaloric effect (MCE). The magnetocaloric effect is a phenomenon in which a magnetocaloric component heats up when immersed in a magnetic field and cools almost immediately when removed from the magnetic field. Magnetic refrigeration is compact, safe and quiet, and has higher cooling efficiency than conventional gas compression refrigeration.
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Global Magnetic Refrigeration Market Segmentation
By Product
- Heat Pumps
- Refrigeration Systems
- Air Conditioning Systems
By Application
- Transportation
- Industrial
- Domestic
- Commercial
MARKET PLAYERS
- Astronautics Corporation of America
- BASF SE
- Camfridge Ltd
- CCS SA
- Cemafroid
- Ammeter
- General Engineering & Research
- Haier Smart Home Co., Ltd
Scope of the Report
The research study analyzes the global Magnetic Refrigeration industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Magnetic Refrigeration Market Report
1. What was the Magnetic Refrigeration Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).
2. What will be the CAGR of Magnetic Refrigeration Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Magnetic Refrigeration Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
• Proliferation and maturation of trade in the global Magnetic Refrigeration market.
• The market share of the global Magnetic Refrigeration market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
• Current and future market trends that are influencing the growth opportunities and growth rate of the global Magnetic Refrigeration market.
• Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Magnetic Refrigeration market.
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