Global Solar Freezer Market 2017-2021
About Solar Freezer
Solar-powered appliances are being adopted owing to their benefits of use. The increasing need to replace conventional sources of power with renewables, and the need to reduce the use of chlorofluorocarbons (CFCs), a potent ozone-depleting agent, will result in the increased adoption of solar-powered refrigeration units. Around 20% of the average monthly electricity consumption is used for powering appliances such as oven and microwave.
Technavio’s analysts forecast the global solar freezer market to grow at a CAGR of 10.23% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global solar freezer market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Solar Freezer Market 2017-2021
Technavio recognizes the following companies as the key players in the global solar freezer market: CONNEXA ENERGY, EcoSolarCool, SunDanzer, and Unique Off-Grid Appliances.
Other Prominent Vendors in the market are: B Medical Systems, DOMETIC, Dulas, Engel Coolers, KYOCERA, Sure Chill, Steca Elektronik, and Vestfrost Solutions.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased adoption of SDD solar freezers. Solar direct drive (SDD) refrigeration is a more sustainable and reliable option that is adopted to improve cold chain refrigeration management and optimization in areas with unreliable power supply. SDDs address some of the challenges of alternative technologies, which include high maintenance requirements, recurring costs, as well as availability of reliable power supply.”
According to the report, one driver in the market is increased focus on reduction of carbon emissions. The effects of global warming, if not mitigated through constructive strategies, will bring immense damage to the environment and consequently to the global population. Burning fossil fuels for power generation is the leading cause of global warming. The energy sector accounts for nearly 40% of the global CO₂ emissions. As a result, several countries are emphasizing the use of renewable energy sources for power generation.
Further, the report states that one challenge in the market is high cost of purchase. The purchase of solar freezers is capital intensive. It is estimated that the cost of a solar freezer is three to five times than that of a conventional freezer. The operational costs of solar-based systems are less, owing to their non-dependence on other resources, apart from the sun. However, high capital costs of installation can offset the benefits due to reduced operational costs in the short term. This same rationale impedes the adoption of solar freezer. Standard freezers are relatively cheaper to purchase.
CONNEXA ENERGY, EcoSolarCool, SunDanzer, Unique Off-Grid Appliances, B Medical Systems, DOMETIC, Dulas, Engel Coolers, KYOCERA, Sure Chill, Steca Elektronik, and Vestfrost Solutions.
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