Global Magnetic Refrigeration Systems Market to Reach $3.5 Billion by 2030

Dublin, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The "Magnetic Refrigeration Systems - Global Strategic Business Report" report has been added to's offering.

The global market for Magnetic Refrigeration Systems estimated at US$15.2 Million in the year 2022, is projected to reach a revised size of US$3.5 Billion by 2030, growing at a CAGR of 97.1% over the analysis period 2022-2030. Refrigeration Systems, one of the segments analyzed in the report, is projected to record 100.4% CAGR and reach US$2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Air Conditioning Systems segment is readjusted to a revised 94.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $5.2 Million, While China is Forecast to Grow at 89.8% CAGR

The Magnetic Refrigeration Systems market in the U.S. is estimated at US$5.2 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$433.7 Million by the year 2030 trailing a CAGR of 89.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 86.1% and 81.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 64% CAGR.

Select Competitors (Total 18 Featured) -

  • Astronautics Corporation of America
  • Camfridge Ltd.
  • Cooltech Applications SAS
  • Eramet Group
  • MilliporeSigma
  • Qingdao Haier Co., Ltd.
  • Samsung Electronics Co., Ltd.
  • Toshiba Corporation
  • Vacuumschmelze GmbH & Co. KG
  • Whirlpool Corporation

Key Attributes:

Report AttributeDetails
No. of Pages182
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$15.2 Million
Forecasted Market Value (USD) by 2030$3500 Million
Compound Annual Growth Rate97.4%
Regions CoveredGlobal

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Global Market for Magnetic Refrigeration Systems