According to a new report, published by KBV research, The Global Solid State Cooling Market size is expected to reach $2 billion by 2031, rising at a market growth of 13.2% CAGR during the forecast period.
The Cooling Systems segment is registering a strong potential in the Global Solid State Cooling Market by Product in 2023 thereby, achieving a market value of $1.3 billion by 2031. Solid-state cooling devices cool electronic components in computers, servers, telecommunications equipment, and other electronics to improve performance and reliability. Moreover, solid-state cooling devices are used in automotive applications, such as cooling seats, cup holders, and glove boxes, to improve comfort for passengers. Similarly, solid-state cooling is used in industrial applications, such as cooling lasers, sensors, and manufacturing equipment, to maintain stable operating temperatures and improve efficiency. As an increasing number of industries seek energy-efficient and eco-friendly cooling solutions, this segment is anticipated to experience growth.
The Thermocycler segment is experiencing a CAGR of 13.8% during (2024 - 2031). The thermocycler involves solid-state cooling technology in PCR (polymerase chain reaction) thermocyclers. PCR thermocyclers are used in molecular biology laboratories to amplify and replicate DNA samples for various applications, such as genetic testing, forensics, and research. Utilizing solid-state cooling technology in PCR thermocyclers presents laboratories engaged in PCR-based research and testing with notable advantages in terms of performance, efficiency, and user-friendliness.
The Thermoelectric Cooling segment is leading the Global Solid State Cooling Market by Technology in 2023 thereby, achieving a market value of $745.2 million by 2031. Thermoelectric coolers are used to cool electronic components in computers, servers, and other electronic devices, such as CPUs, GPUs, and power electronics. These devices provide accurate temperature regulation and have the capability to be incorporated into small areas. Thermoelectric coolers offer several advantages, including compact size, silent operation, precise temperature control, and the ability to cool or heat depending on the direction of the current, making them suitable for a wide range of applications.
The Semiconductor & Electronics segment is poised to have a CAGR of 13% during (2024 - 2031). The expanding semiconductor and electronics sector is driving the demand for solid-state cooling technology due to its energy efficiency, reliability, compactness, and precision cooling capabilities, making it an ideal choice for cooling electronic components and devices. Semiconductors and electronic components generate more heat as their performance increases, leading to a greater need for effective cooling solutions to maintain optimal operating temperatures and prevent overheating. Solid-state cooling technology offers precise temperature control, essential for maintaining performance and reliability for semiconductor devices and electronic components.
Full Report: https://www.kbvresearch.com/solid-state-cooling-market/
The Asia Pacific region dominated the Global Solid State Cooling Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $767.1 million by 2031. The North America region would witness a CAGR of 12.5% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 12.7% during (2024 - 2031).
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