Market Research Report

Global Magnetic Refrigeration Market Report By Product (Refrigeration Systems, Air Conditioning Systems), By Application (Commercial, Domestic, Transportation, Industrial) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2028

May 2021
Report Formats: Electronic (PDF), MS EXCEL

Global Magnetic Refrigeration Market Overview 

The key driver impacting the magnetic refrigeration market is the rapidly growing demand for packaged and processed food with expanding population. For instance, As per the Institute of Food Technologists, global sales of packaged foods and drinks reached $2.1 trillion in 2017 and are predictable to augment at a compound annual growth rate (CAGR) of 2.2% through 2022. The Middle Asia Pacific and the East/Africa food sectors are likely to increase in the coming years. Moreover, compact design, low maintenance costs, and high energy efficiency provided by magnetic refrigeration technology contribute to magnetic refrigeration's market growth in the coming years.

According to Value Market Research, the global magnetic refrigeration market size was valued at around USD 19.2 million in 2020 and is estimated to grow at a CAGR of about 105.4 % during the forecast period 2021 to 2027. 

The rising government initiatives on green technology are estimated to augment magnetic refrigeration systems demand in the forecast period. For instance, Globally, the ban on CFCs and H-CFCs has been regulated and programmed via Montreal Protocol due to their depletion effect on the ozone layer. Also, in 2015 the European Union has adopted two legislative acts: the F-gas Regulation and the MAC Directive to control emissions from fluorinated greenhouse gases (F-gases), including hydrofluorocarbons (HFCs). However, the high initial investment may hamper the market in the long run. Also, the limited field strength of permanent magnets negatively impacts the market. The current industry trends, such as the adoption of magnetic refrigeration in the commercial sector, and high potential in the industrial sector, are expected to offer new lucrative market opportunities for the key players.
The Magnetic refrigeration market is vast, with many local and global players. The Magnetic refrigeration market is extensive, with many regional and international players. The important market leaders follow several strategies to raise their market status, such as extending product portfolio, acquisitions, expanding product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report include Ubiblue, Haier Smart Home Co., Ltd, Camfridge Ltd, Astronautics Corporation of America, VACUUMSCHMELZE GmbH & Co. KG, BASF SE, Samsung Electronics Co., Ltd, ERAMET, Whirlpool Corporation, and Toshiba Corporation.

Global Magnetic Refrigeration Market Share


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In this research report, the Magnetic refrigeration market is segmented by product, application, and region.
Analysis by-Product:
By product, the report is categorized into Refrigeration systems and Refrigerators. The refrigeration system segment dominates the product segment with over 55% share in 2020. Due to the high adoption of refrigeration systems across several industries, magnetic refrigeration systems do not necessitate huge maintenance, create fewer vibrations, and are usually quieter than conventional units. Moreover, the rising key player's focus on entering the market with refrigeration systems contributes to the massive demand from the refrigeration systems segment in the coming years.
Analysis by Application:
By application, the report is categorized into commercial, domestic, and transportation (Logistics, Automotive, Aerospace, Marine), Industrial (Food & Beverages, and Healthcare). The commercial application segment dominates the application segment with over 30% share in 2020. It is due to growing key players' efforts to develop and offer various products based on magnetic refrigeration technology for commercial application. Moreover, Government support to create magnetic refrigeration technology and strict regulations to reduce refrigerants' use harmful to the environment contributes to the massive market demand for the commercial application segment in the forecast period.
Analysis by Region:
In the regional outlook of the global Magnetic refrigeration market, the Europe region dominates globally with a 30% market share in the forecast period. It is due to the rising government support to develop green technology and strict imposition of bans on the use of conventional refrigerants. Also, the presence of leading players, growing R&D efforts of European companies to develop magnetic refrigeration technology adds growth to the market. Moreover, the mounting demand for frozen food and the high usage of refrigeration in logistics-related applications contribute to tremendous market growth across Europe.
Market Segmentation covered in the Report:
By Product

  • Refrigeration Systems
    • Beverage Coolers
    • Cabinet Displays
    • Ice Cream Cabinets
    • Freezers
    • Refrigerators
  • Air Conditioning Systems
    • Stationary Air Conditioners
    • Mobile Air Conditioners
    • Chillers

By Application

  • Commercial
  • Domestic
  • Transportation
    • Logistics
    • Automotive
    • Aerospace
    • Marine
  • Industrial
    • Food & Beverages
    • Healthcare

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa


This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. 

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.  

       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
       2.1. Highlights of Market
       2.2. Global Market Snapshot
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Product
           3.7.2 By Application
           3.7.3 By Region
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
       6.1 Overview by Product
       6.2 Historical and Forecast Data
       6.3 Analysis by Product
       6.4 Refrigeration Systems Market by Regions
       6.6 Air Conditioning Systems Market by Regions
       7.1 Overview by Application
       7.2 Historical and Forecast Data
       7.3 Analysis by Application
       7.4 Commercial Market by Regions
       7.5 Domestic Market by Regions
       7.6 Transportation Market by Regions
       7.7 Industrial Market by Regions
       8.1. Regional Outlook
       8.2. Introduction
       8.3. North America
           8.3.1. Overview, Historic and Forecast Data
           8.3.2. North America By Segment
           8.3.3. North America By Country
           8.3.4. United State
           8.3.5. Canada
           8.3.6. Mexico
       8.4. Europe
           8.4.1. Overview, Historic and Forecast Data
           8.4.2. Europe by Segment
           8.4.3. Europe by Country
           8.4.4. United Kingdom
           8.4.5. France
           8.4.6. Germany
           8.4.7. Italy
           8.4.8. Russia
           8.4.9. Rest Of Europe
       8.5. Asia Pacific
           8.5.1. Overview, Historic and Forecast Data
           8.5.2. Asia Pacific by Segment
           8.5.3. Asia Pacific by Country
           8.5.4. China
           8.5.5. India
           8.5.6. Japan
           8.5.7. South Korea
           8.5.8. Australia
           8.5.9. Rest Of Asia Pacific
       8.6. Latin America
           8.6.1. Overview, Historic and Forecast Data
           8.6.2. Latin America by Segment
           8.6.3. Latin America by Country
           8.6.4. Brazil
           8.6.5. Argentina
           8.6.6. Peru
           8.6.7. Chile
           8.6.8. Rest of Latin America
       8.7. Middle East & Africa
           8.7.1. Overview, Historic and Forecast Data
           8.7.2. Middle East & Africa by Segment
           8.7.3. Middle East & Africa by Country
           8.7.4. Saudi Arabia
           8.7.5. UAE
           8.7.6. Israel
           8.7.7. South Africa
           8.7.8. Rest Of Middle East And Africa
       9.1. Magnetic Refrigeration Market Competition
       9.2. Partnership/Collaboration/Agreement
       9.3. Merger And Acquisitions
       9.4. New Product Launch
       9.5. Other Developments
       10.1. Company Share Analysis
       10.2. Market Concentration Rate
       10.3. Ubiblue
           10.3.1. Company Overview
           10.3.2. Financials
           10.3.3. Products
           10.3.4. Recent Developments
       10.4. Haier Smart Home Co., Ltd
           10.4.1. Company Overview
           10.4.2. Financials
           10.4.3. Products
           10.4.4. Recent Developments
       10.5. Camfridge Ltd
           10.5.1. Company Overview
           10.5.2. Financials
           10.5.3. Products
           10.5.4. Recent Developments
       10.6. Astronautics Corporation of America
           10.6.1. Company Overview
           10.6.2. Financials
           10.6.3. Products
           10.6.4. Recent Developments
       10.7. VACUUMSCHMELZE GmbH & Co. KG
           10.7.1. Company Overview
           10.7.2. Financials
           10.7.3. Products
           10.7.4. Recent Developments
       10.8. BASF SE
           10.8.1. Company Overview
           10.8.2. Financials
           10.8.3. Products
           10.8.4. Recent Developments
       10.9. Samsung Electronics Co., Ltd
           10.9.1. Company Overview
           10.9.2. Financials
           10.9.3. Products
           10.9.4. Recent Developments
       10.10. ERAMET
           10.10.1. Company Overview
           10.10.2. Financials
           10.10.3. Products
           10.10.4. Recent Developments
       10.11. Whirlpool Corporation
           10.11.1. Company Overview
           10.11.2. Financials
           10.11.3. Products
           10.11.4. Recent Developments
       10.12. Toshiba Corporation
           10.12.1. Company Overview
           10.12.2. Financials
           10.12.3. Products
           10.12.4. Recent Developments
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies

  •  Market Snapshot
  •  Drivers : Impact Analysis
  •  Restraints : Impact Analysis
  •  List of Raw Material
  •  List of Raw Material Manufactures
  •  List of Potential Buyers
  •  COVID-19 Impact Analysis by Production, Import, Export and Demand
  •  Pre V/S Post COVID-19
  •  Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  •  COVID-19: Micro and Macro Factor Analysis
  •  Analysis by Product (USD MN)
  •  Refrigeration Systems Market by Geography (USD MN)
  •  Air Conditioning Systems Market by Geography (USD MN)
  •  Analysis Market by Application (USD MN)
  •  Commercial Market by Geography (USD MN)
  •  Domestic Market by Geography (USD MN)
  •  Transportation Market by Geography (USD MN)
  •  Industrial Market by Geography (USD MN)
  •  Global Magnetic Refrigeration Market by Geography (USD MN)
  •  North America Market Analysis (USD MN)
  •  United State Market Analysis (USD MN)
  •  Canada Market Analysis (USD MN)
  •  Mexico Market Analysis (USD MN)
  •  Europe Market Analysis (USD MN)
  •  Europe Market Estimate by Country (USD MN)
  •  United Kingdom Market Analysis (USD MN)
  •  France Market Analysis (USD MN)
  •  Germany Market Analysis (USD MN)
  •  Italy Market Analysis (USD MN)
  •  Russia Market Analysis (USD MN)
  •  Spain Market Analysis (USD MN)
  •  Rest of Europe Market Analysis (USD MN)
  •  Asia Pacific Market Analysis (USD MN)
  •  China Market Analysis (USD MN)
  •  Japan Market Analysis (USD MN)
  •  India Market Analysis (USD MN)
  •  South Korea Market Analysis (USD MN)
  •  Australia Market Analysis (USD MN)
  •  Rest of Asia Pacific Market Analysis (USD MN)
  •  Latin America Market Analysis (USD MN)
  •  Brazil Market Analysis (USD MN)
  •  Argentina Market Analysis (USD MN)
  •  Peru Market Analysis (USD MN)
  •  Chile Market Analysis (USD MN)
  •  Rest of Latin America Market Analysis (USD MN)
  •  Middle East & Africa Market Analysis (USD MN)
  •  Saudi Arabia Market Analysis (USD MN)
  •  UAE Market Analysis (USD MN)
  •  Israel Market Analysis (USD MN)
  •  South Africa Market Analysis (USD MN)
  •  Rest of Middle East and Africa Market Analysis (USD MN)
  •  Partnership/Collaboration/Agreement
  •  Mergers And Acquisiton


  •  Research Scope of Magnetic Refrigeration Report
  •  Market Research Process
  •  Market Research Methodology
  •  Global Magnetic Refrigeration Market Size, by Region (USD MN)
  •  Porters Five Forces Analysis
  •  Market Attractiveness Analysis by Product
  •  Market Attractiveness Analysis by Application
  •  Market Attractiveness Analysis by Region
  •  Value Chain Analysis
  •  Global Market Analysis by Product (USD MN)
  •  Refrigeration Systems Market by Geography (USD MN)
  •  Air Conditioning Systems Market by Geography (USD MN)
  •  Global Market Analysis by Application (USD MN)
  •  Commercial Market by Geography (USD MN)
  •  Domestic Market by Geography (USD MN)
  •  Transportation Market by Geography (USD MN)
  •  Industrial Market by Geography (USD MN)
  •  Global Market by Revenue
  •  North America Market by Revenue
  •  Europe Market by Revenue
  •  Asia Pacific Market by Revenue
  •  Latin America Market by Revenue
  •  Middle East & Africa Market by Revenue
  •  Recent Development in Industry
  •  Company Market Share Analysis

 * Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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Objectives of Study

  • Define and measure the global market
  • Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments

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