Global Magnetic Refrigeration Market Size, Share, Trends, Industry Growth by Product (Refrigeration Systems, Air conditioning Systems, Heat Pumps), by Application (Domestic, Commercial, Transportation, Industrial), by Industry Verticals, by Region, and Forecast to 2028
Report ID: RCMA215 | Report Format: PDF + Excel | Starting Price: 3600/- USD |The global magnetic refrigeration market size is accounted to register a faster CAGR of around 105% during the forecast period from 2022 to 2028. The growing adoption of the systems in transportation and industrial applications and the increasing inclination toward green energy are some major factors driving the market growth. Furthermore, the government’s supportive policies for green technology and safe refrigeration systems, the rising concern of carbon emission and ozone layer depletion are further anticipated to boost the market over the forecast period. Moreover, the rising demand for low costs, lightweight, and higher life cycle products is anticipated to fuel the market growth in next upcoming years.
Market Insights:
By product, the refrigeration systems segment is expected to hold the largest market share by 2028
The global magnetic refrigeration systems market is bifurcated into product, application, industry verticals, and geography. On the basis of product, the market is further segmented into refrigeration systems, air conditioning systems, and heat pumps. The refrigeration system segment dominated the global market in 2021 and is anticipated to hold the largest revenue share of over 1/3 market share by 2028. The low energy consumption, low maintenance, and the refrigerant-less refrigeration systems are some major factors to drive the segment growth. Furthermore, the growing adoption of these systems in various applications such as beverage coolers, freezers, refrigerators, ice cream cabinets, and others is further expected to fuel the segment growth over the forecast period.
By application, the commercial segment is expected to register the fastest growth rate over the forecast period
On the basis of application, the market is segmented into domestic, commercial, transportation, and industrial. The commercial segment dominated the global magnetic refrigeration market in 2021 and is expected to register a considerable CAGR over the forecast period. The growing use of magnetic refrigeration systems in various commercial applications such as beverage coolers and display cabinets is a prominent factor driving the segment growth. Furthermore, the increasing focus of manufacturers to provide various product-based solutions and the government’s supportive policies are further expected to fuel the segment growth over the forecast period.
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Global magnetic refrigeration market size and forecast were obtained by using “Bottom-up” and “Top-down” approaches. Extensive secondary research was conducted to understand the market insights and trends, followed by primary interviews to further validate the information sourced. The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions.
The magnetic refrigeration market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.
Historical & Forecast Period
- 2019-20 – Historical Year
- 2021 – Base Year
- 2022-2028 – Forecast Period
Global Magnetic Refrigeration Market Segmentation:
Magnetic Refrigeration Market Segmentation by Product:
- Refrigeration Systems
- Air conditioning Systems
- Heat Pumps
Magnetic Refrigeration Market Segmentation by Application:
- Domestic
- Commercial
- Transportation
- Industrial
Magnetic Refrigeration Market Segmentation by Industry Verticals:
- Food and Beverage
- Storage
- Healthcare
- Others
Magnetic Refrigeration Market Segmentation by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Magnetic Refrigeration Market: Geographic Coverage
Geographically, Europe dominated the global magnetic refrigeration market in 2021 and is estimated to grow at the same trend over the forecast period. The stringent regulations regarding carbon emission and the government’s supportive policies for green technologies are some major factors driving the market growth in the region. Furthermore, the ban on the usage of the F-gases in various types of equipment and the ban on high GWP refrigerants are further expected to increase the demand for magnetic refrigeration systems in Europe. Moreover, the growing demand for refrigeration in the transport sector and the increasing demand for frozen food products are projected to propel the market growth over the forecast period.
Magnetic Refrigeration Market: Competitive Assessment
Some of the major market players operating in the global magnetic refrigeration market are Ubiblue, Haier Smart Home Co., Ltd., Camfridge Ltd., Astronautics Corporation of America, and VACUUMSCHMELZE GmbH & Co. KG. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
List of Key Companies:
- Ubiblue
- Haier Smart Home Co., Ltd.
- Camfridge Ltd.
- Astronautics Corporation of America
- VACUUMSCHMELZE GmbH & Co. KG
- BASF SE
- ERAMET
- Samsung Electronics Co., Ltd.
- Toshiba Corporation
- Whirlpool Corporation
Key Questions Answered by Magnetic Refrigeration Market Report
- Global magnetic refrigeration market forecasts from 2022-2028
- Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
- Magnetic refrigeration submarket forecasts from 2022-2028 covering the market by product, by application, by industry verticals, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about the market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level magnetic refrigeration markets from 2022-2028
- Competitive Landscape and market positioning of top 10 players operating in the market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Magnetic Refrigeration Market Portraiture
2.2. Global Magnetic Refrigeration Market, by Product, 2021 (USD Mn)
2.3. Global Magnetic Refrigeration Market, by Application, 2021 (USD Mn)
2.4. Global Magnetic Refrigeration Market, by Industry Verticals, 2021 (USD Mn)
2.5. Global Magnetic Refrigeration Market, by Geography, 2021 (USD Mn)
3. Global Magnetic Refrigeration Market Analysis
3.1. Magnetic Refrigeration Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Magnetic Refrigeration Market By Product, 2019 – 2028 (USD Mn)
4.1. Overview
4.2. Refrigeration Systems
4.3. Air conditioning Systems
4.4. Heat Pumps
5. Global Magnetic Refrigeration Market By Application, 2019 – 2028 (USD Mn)
5.1. Overview
5.2. Domestic
5.3. Commercial
5.4. Transportation
5.5. Industrial
6. Global Magnetic Refrigeration Market By Industry Verticals, 2019 – 2028 (USD Mn)
6.1. Overview
6.2. Food and Beverage
6.3. Storage
6.4. Healthcare
6.5. Others
7. North America Magnetic Refrigeration Market Analysis and Forecast, 2019 – 2028 (USD Mn)
7.1. Overview
7.2. North America Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
7.3. North America Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
7.4. North America Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
7.5. North America Magnetic Refrigeration Market by Country, (2019-2028 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
7.5.1.2. U.S. Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
7.5.1.3. U.S. Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
7.5.2.2. Canada Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
7.5.2.3. Canada Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
8. Europe Magnetic Refrigeration Market Analysis and Forecast, 2019 – 2028 (USD Mn)
8.1. Overview
8.2. Europe Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
8.3. Europe Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
8.4. Europe Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
8.5. Europe Magnetic Refrigeration Market by Country, (2019-2028 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
8.5.1.2. Germany Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
8.5.1.3. Germany Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
8.5.2.2. U.K. Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
8.5.2.3. U.K. Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
8.5.3. France
8.5.3.1. France Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
8.5.3.2. France Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
8.5.3.3. France Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
8.5.4. Italy
8.5.4.1. Italy Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
8.5.4.2. Italy Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
8.5.4.3. Italy Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
8.5.5. Rest of Europe
8.5.5.1. Rest of Europe Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
8.5.5.2. Rest of Europe Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
8.5.5.3. Rest of Europe Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
9. Asia Pacific Magnetic Refrigeration Market Analysis and Forecast, 2019 – 2028 (USD Mn)
9.1. Overview
9.2. Asia Pacific Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
9.3. Asia Pacific Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
9.4. Asia Pacific Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
9.5. Asia Pacific Magnetic Refrigeration Market by Country, (2019-2028 USD Mn)
9.5.1. China
9.5.1.1. China Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
9.5.1.2. China Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
9.5.1.3. China Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
9.5.2.2. Japan Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
9.5.2.3. Japan Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
9.5.3. India
9.5.3.1. India Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
9.5.3.2. India Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
9.5.3.3. India Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
9.5.4. Rest of Asia Pacific
9.5.4.1. Rest of Asia Pacific Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
9.5.4.2. Rest of Asia Pacific Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
9.5.4.3. Rest of Asia Pacific Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
10. Latin America (LATAM) Magnetic Refrigeration Market Analysis and Forecast, 2019 – 2028 (USD Mn)
10.1. Overview
10.2. Latin America Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
10.3. Latin America Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
10.4. Latin America Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
10.5. Latin America Magnetic Refrigeration Market by Country, (2019-2028 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
10.5.1.2. Brazil Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
10.5.1.3. Brazil Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
10.5.2. Mexico
10.5.2.1. Mexico Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
10.5.2.2. Mexico Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
10.5.2.3. Mexico Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
10.5.3.2. Rest of Latin America Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
10.5.3.3. Rest of Latin America Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
11. Middle East and Africa Magnetic Refrigeration Market Analysis and Forecast, 2019 – 2028 (USD Mn)
11.1. Overview
11.2. MEA Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
11.3. MEA Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
11.4. MEA Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
11.5. Middle East and Africa Magnetic Refrigeration Market, by Country, (2019-2028 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
11.5.1.2. GCC Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
11.5.1.3. GCC Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
11.5.2.2. South Africa Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
11.5.2.3. South Africa Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Magnetic Refrigeration Market by Product, (2019-2028 USD Mn)
11.5.3.2. Rest of MEA Magnetic Refrigeration Market by Application, (2019-2028 USD Mn)
11.5.3.3. Rest of MEA Magnetic Refrigeration Market by Industry Verticals, (2019-2028 USD Mn)
12. Company Profiles
12.1. Ubiblue
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. Haier Smart Home Co., Ltd.
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. Camfridge Ltd.
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. Astronautics Corporation of America
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. VACUUMSCHMELZE GmbH & Co. KG
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. BASF SE
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. ERAMET
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. Samsung Electronics Co., Ltd.
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. Toshiba Corporation
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. Whirlpool Corporation
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
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