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Magnetic Refrigeration Market by Product (Refrigeration Systems, Air Conditioning Systems and Heat Pumps), Application (Domestic, Commercial, Transportation and Industrial), and Geography - Global Forecast to 2023

Magnetic Refrigeration Market by Product (Refrigeration Systems, Air Conditioning Systems and Heat Pumps), Application (Domestic, Commercial, Transportation and Industrial), and Geography - Global Forecast to 2023

“Magnetic refrigeration market expected to grow at a CAGR of 108.0% between 2018 and 2023”
The magnetic refrigeration market is expected to be valued at USD 163.7 million by 2023, growing at a CAGR of 108.0% between 2018 and 2023. This market growth can be attributed to the increasing pressure on the refrigeration industry to reduce the use of harmful refrigerants such as hydrofluorocarbons (HFCs) and chlorofluorocarbons (CFCs). Also, the magnetic refrigeration system uses 40% less energy than traditional vapor compression system. Governments in the US as well as in European countries have been phasing out refrigerants to reduce their impact on the environment. Hydrofluorocarbon (HFC) refrigerants such as R-134a, R-410a, or R-404a are already being phased out. The most common refrigerant, R-134a, was banned in the European Union in 2011. Refrigerants such as HCFC-22 or R-22, which are commonly used in existing refrigeration systems, are also gradually being phased out. Developing countries such as China and India have also pledged under the Montreal Protocol to phase down the production and consumption of HFCs.

“Commercial application expected to hold the largest size of the market during the forecast period”
The commercial application includes places that are used for businesses such as offices, malls, and shops, among others. The commercial application is expected to lead the market for magnetic refrigeration in the coming years because most of the players in the field of magnetic refrigeration are focusing initially on the commercial application for launching their magnetic refrigeration products. Cooltech Applications (France) is even demonstrating and collaborating with commercial businesses such as hotels, retail stores, and restaurants for testing their MRS.

“Market in APAC likely to grow at the highest rate during the forecast period”
The magnetic refrigeration market in APAC is expected to grow at the highest rate during the forecast period. Factors such as the fast economic development of countries in APAC such as China and India, and the increasing demand for air conditioning systems in countries such as China and India are likely to contribute to the fastest growth of the market in APAC during the forecast period. In June 2013, the US and China proposed to work together under the Montreal Protocol to phase down the production and consumption of HFCs. In 2015, India submitted a proposal to amend Montreal Protocol to include HFCs. Companies such as Haier, Toshiba, and Samsung have been working toward developing magnetic refrigeration-based products, thereby contributing to the fastest growth of the market in APAC.

Breakdown of the profiles of primary participants:
• By Company: Tier 1 = 55 %, Tier 2 = 30%, and Tier 3 = 15%
• By Designation: C-Level Executives = 50%, Directors = 25%, and Managers = 25%
• By Region: North America = 35%, Europe = 25%, APAC = 30%, and RoW = 10%

The major players profiled in this report are as follows:
• Cooltech Applications (France)
• Camfridge Ltd (UK)
• Astronautics Corporation of America (US)
• Whirlpool Corporation (US)
• Qingdao Haier Co. Ltd. (China)
• BASF SE (Germany)
• Eramet S.A. (France)
• Samsung Electronics Co., Ltd. (South Korea)
• Toshiba Corporation (Japan)
• VACUUMSCHMELZE GMBH & CO. KG (Germany)

Research Coverage
In this report, the magnetic refrigeration market has been segmented on the basis of products, application, and geography. The market has been segmented on the basis of products into refrigeration systems, air conditioning systems, and heat pumps. The magnetic refrigeration market based on application comprises domestic, commercial, transportation, and industrial. The study also covers the forecast of the market sizes for five main regions—North America, South America, Europe, APAC, and RoW.

Reasons to buy the report
The report would help the market leaders/new entrants in this market in the following ways.
1. This report segments the magnetic refrigeration market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different verticals and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, opportunities, burning issues, and winning imperatives for the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product launches and developments, partnerships, and mergers and acquisitions carried out in the market.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • STUDY SCOPE
      • MARKETS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • DEMAND-SIDE ANALYSIS OF THE MAGNETIC REFRIGERATION MARKET
      • INTRODUCTION
      • DEMAND-SIDE ANALYSIS
      • GOVERNMENT REGULATIONS TO BAN HFC AND HCFC
      • ADVANTAGES OVER VAPOR COMPRESSION AND VAPOR ABSORPTION CYCLES TO DRIVE THE DEMAND FOR THE MAGNETIC REFRIGERATION TECHNOLOGY
      • LOWER ENERGY CONSUMPTION IS AN ADDED ADVANTAGE DELIVERED BY THE MAGNETIC REFRIGERATION TECHNOLOGY WHICH IS EXPECTED TO DRIVE ITS APPLICATION IN VARIOUS SECTORS
    • MARKET SIZE ESTIMATION
    • MARKET BREAKDOWN AND DATA TRIANGULATION
      • SECONDARY AND PRIMARY DATA
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • MAGNETIC REFRIGERATION MARKET (2018–2023)
    • MAGNETIC REFRIGERATION MARKET, BY APPLICATION, (2018–2023)
    • MAGNETIC REFRIGERATION MARKET, BY APPLICATION AND GEOGRAPHY (2023)
    • MAGNETIC REFRIGERATION MARKET, BY GEOGRAPHY (2018–2023)
    • MAGNETIC REFRIGERATION MARKET, BY PRODUCT (2018–2023)
  • MARKET OVERVIEW
    • INTRODUCTION
    • EVOLUTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
      • BURNING ISSUES
      • WINNING IMPERATIVES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
      • RESEARCH AND PRODUCT DEVELOPMENT
      • COMPONENT MANUFACTURING
      • TECHNOLOGY MANUFACTURING
      • SYSTEM INTEGRATION
      • DISTRIBUTION
      • POST-SALES SERVICES
    • REGULATIONS RELATED TO REFRIGERATION INDUSTRY
      • REGULATIONS AND STANDARDS RELATED TO REFRIGERATION
    • WORKING PRINCIPLE AND MATERIALS
  • MAGNETIC REFRIGERATION MARKET, BY PRODUCT
    • INTRODUCTION
      • Table MAGNETIC REFRIGERATION MARKET, BY PRODUCT, 2018–2023 (USD MILLION)
    • REFRIGERATION SYSTEMS
      • Table MAGNETIC REFRIGERATION MARKET FOR REFRIGERATION SYSTEMS, BY PRODUCT TYPE, 2018–2023 (USD THOUSAND)
    • REFRIGERATORS
    • CABINET DISPLAYS
    • FREEZERS
    • BEVERAGE COOLERS
    • ICE CREAM CABINETS
      • Table MAGNETIC REFRIGERATION MARKET FOR REFRIGERATION SYSTEMS, BY APPLICATION, 2018–2023 (USD MILLION)
      • Table REFRIGERATION SYSTEMS MARKET FOR TRANSPORTATION APPLICATION, BY TYPE, 2020–2023 (USD THOUSAND)
      • Table REFRIGERATION SYSTEMS MARKET FOR INDUSTRIAL APPLICATION, BY TYPE, 2019–2023 (USD THOUSAND)
    • AIR CONDITIONING SYSTEMS
      • Table MAGNETIC REFRIGERATION MARKET FOR AIR CONDITIONING SYSTEMS, BY PRODUCT TYPE, 2019–2023 (USD THOUSAND)
    • STATIONARY AIR CONDITIONERS
    • MOBILE AIR CONDITIONERS
    • CHILLERS
      • Table MAGNETIC REFRIGERATION MARKET FOR AIR CONDITIONING SYSTEMS, BY APPLICATION, 2019–2023 (USD THOUSAND)
      • Table AIR CONDITIONING SYSTEMS MARKET FOR TRANSPORTATION APPLICATION, BY TYPE, 2020–2023 (USD THOUSAND)
      • Table AIR CONDITIONING SYSTEMS MARKET FOR INDUSTRIAL APPLICATION, BY TYPE, 2019–2023 (USD THOUSAND)
    • HEAT PUMPS
      • Table MAGNETIC REFRIGERATION MARKET FOR HEAT PUMPS, BY APPLICATION, 2019–2023 (USD THOUSAND)
      • Table HEAT PUMPS MARKET FOR TRANSPORTATION APPLICATION, BY TYPE, 2020–2023 (USD THOUSAND)
      • Table HEAT PUMPS MARKET FOR INDUSTRIAL APPLICATION, BY TYPE, 2019–2023 (USD THOUSAND)
  • MAGNETIC REFRIGERATION MARKET, BY APPLICATION
    • INTRODUCTION
      • Table MAGNETIC REFRIGERATION MARKET, BY APPLICATION, 2018–2023 (USD MILLION)
    • DOMESTIC
      • Table MAGNETIC REFRIGERATION MARKET FOR DOMESTIC APPLICATION, BY PRODUCT, 2019–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR DOMESTIC APPLICATION, BY REGION, 2019–2023 (USD THOUSAND)
    • COMMERCIAL
      • Table MAGNETIC REFRIGERATION MARKET FOR COMMERCIAL APPLICATION, BY PRODUCT, 2018–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2018–2023 (USD THOUSAND)
    • TRANSPORTATION
      • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION, BY TYPE, 2020–2023 (USD MILLION)
      • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION, BY PRODUCT, 2020–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION, BY REGION, 2020–2023 (USD THOUSAND)
    • LOGISTICS
      • Table MAGNETIC REFRIGERATION MARKET FOR LOGISTICS, BY PRODUCT, 2020–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR LOGISTICS, BY REGION, 2020–2023 (USD THOUSAND)
    • AUTOMOTIVE
      • Table MAGNETIC REFRIGERATION MARKET FOR AUTOMOTIVE APPLICATION, BY PRODUCT, 2020–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR AUTOMOTIVE APPLICATION, BY REGION, 2020–2023 (USD THOUSAND)
    • AEROSPACE
      • Table MAGNETIC REFRIGERATION MARKET FOR AEROSPACE APPLICATION, BY PRODUCT, 2021–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR AEROSPACE APPLICATION, BY REGION, 2021–2023 (USD THOUSAND)
    • MARINE
      • Table MAGNETIC REFRIGERATION MARKET FOR MARINE APPLICATION, BY PRODUCT, 2021–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR MARINE APPLICATION, BY REGION, 2021–2023 (USD THOUSAND)
    • INDUSTRIAL
      • Table MAGNETIC REFRIGERATION MARKET, BY INDUSTRIAL APPLICATION, 2019–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR INDUSTRIAL APPLICATION, BY PRODUCT, 2019–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR INDUSTRIAL APPLICATION, BY REGION, 2019–2023 (USD THOUSAND)
    • FOOD & BEVERAGE PROCESSING & STORAGE
      • Table MAGNETIC REFRIGERATION MARKET FOR FOOD & BEVERAGE PROCESSING & STORAGE, BY PRODUCT, 2019–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR FOOD & BEVERAGE PROCESSING & STORAGE, BY REGION, 2019–2023 (USD THOUSAND)
    • HEALTHCARE
      • Table MAGNETIC REFRIGERATION MARKET FOR HEALTHCARE, BY PRODUCT, 2019–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR HEALTHCARE, BY REGION, 2019–2023 (USD THOUSAND)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table MAGNETIC REFRIGERATION MARKET, BY REGION, 2018–2023 (USD THOUSAND)
    • NORTH AMERICA
      • US
      • CANADA
      • MEXICO
        • Table MAGNETIC REFRIGERATION MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET IN NORTH AMERICA, BY PRODUCT, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET IN NORTH AMERICA, BY APPLICATION, 2018–2023 (USD MILLION)
        • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION IN NORTH AMERICA, BY TYPE, 2020–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET FOR INDUSTRIAL APPLICATION IN NORTH AMERICA, BY TYPE, 2019–2023 (USD THOUSAND)
    • SOUTH AMERICA
      • BRAZIL
        • Table MAGNETIC REFRIGERATION MARKET IN SOUTH AMERICA, BY COUNTRY, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET IN SOUTH AMERICA, BY PRODUCT, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET IN SOUTH AMERICA, BY APPLICATION, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION IN SOUTH AMERICA, BY TYPE, 2020–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET FOR INDUSTRIAL APPLICATION IN SOUTH AMERICA, BY TYPE, 2019–2023 (USD THOUSAND)
    • EUROPE
      • GERMANY
      • UK
        • Table MAGNETIC REFRIGERATION MARKET IN EUROPE, BY COUNTRY, 2018–2023 (USD MILLION)
        • Table MAGNETIC REFRIGERATION MARKET IN EUROPE, BY PRODUCT, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET IN EUROPE, BY APPLICATION, 2018–2023 (USD MILLION)
        • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION IN EUROPE, BY TYPE, 2020–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET FOR INDUSTRIAL APPLICATION IN EUROPE, BY TYPE, 2019–2023 (USD THOUSAND)
    • APAC
      • CHINA
      • INDIA
      • JAPAN
        • Table MAGNETIC REFRIGERATION MARKET IN APAC, BY COUNTRY, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET IN APAC, BY PRODUCT, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET IN APAC, BY APPLICATION, 2018–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION IN APAC, BY TYPE, 2020–2023 (USD THOUSAND)
        • Table MAGNETIC REFRIGERATION MARKET FOR INDUSTRIAL APPLICATION IN APAC, BY TYPE, 2019–2023 (USD THOUSAND)
    • ROW
      • Table MAGNETIC REFRIGERATION MARKET IN ROW, BY REGION, 2018–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET IN ROW, BY PRODUCT, 2018–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET IN ROW, BY APPLICATION, 2018–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR TRANSPORTATION APPLICATION IN ROW, BY TYPE, 2020–2023 (USD THOUSAND)
      • Table MAGNETIC REFRIGERATION MARKET FOR INDUSTRIAL APPLICATION IN ROW, BY TYPE, 2019–2023 (USD THOUSAND)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • MARKET RANKING ANALYSIS
      • Table MARKET RANKING OF THE TOP 5 PLAYERS IN THE MAGNETIC REFRIGERATION MARKET
    • MAGNETIC REFRIGERATION MARKET (GLOBAL), COMPETITIVE LEADERSHIP MAPPING
      • VISIONARY LEADERS
      • DYNAMIC DIFFERENTIATORS
      • INNOVATORS
      • EMERGING COMPANIES
    • BUSINESS STRATEGY
    • PRODUCT OFFERING
    • COMPETITIVE SITUATIONS AND TRENDS
    • SIGNIFICANT DEVELOPMENTS IN MAGNETIC REFRIGERATION MARKET
      • Table PRODUCT DEVELOPMENT
      • Table AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS
      • Table ACQUISITIONS
  • COMPANY PROFILES
    • INTRODUCTION
    • COOLTECH APPLICATIONS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • MNM VIEW
      • KEY RELATIONSHIPS
    • CAMFRIDGE LTD
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • MNM VIEW
      • KEY RELATIONSHIPS
    • ASTRONAUTICS CORPORATION OF AMERICA
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • WHIRLPOOL CORPORATION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • MNM VIEW
      • KEY RELATIONSHIPS
    • QINGDAO HAIER CO., LTD
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • BASF SE
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • ERAMET S.A.
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • SAMSUNG ELECTRONICS CO., LTD
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
    • TOSHIBA CORPORATION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
    • VACUUMSCHMELZE GMBH & CO. KG
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
    • KEY INNOVATORS
      • SIGMA–ALDRICH CORPORATION
  • APPENDIX
    • INSIGHTS FROM INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATION
    • RELATED REPORTS
    • AUTHOR DETAILS

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