Solid State Cooling Market expected to reach $1759.10 million by 2032, driven by demand for energy-efficient cooling devices

From GlobeNewswire: 2025-06-10 09:00:00

The Solid State Cooling Market is expected to reach USD 1759.10 million by 2032, growing at a CAGR of 10.05% from 2025-2032. Demand is driven by compact, energy-efficient cooling devices in healthcare, consumer electronics, and electric vehicles, with advancements in thermoelectric, electrocaloric, and magnetocaloric technologies. North America dominated in 2024, with Asia Pacific expected to grow fastest.

Cooling systems held a dominant 63.6% share of the market in 2024, with thermoelectric coolers being preferred for their small size and quiet operation. Refrigeration systems are expected to register the highest CAGR due to rising demand for nature-friendly solutions. In terms of types, single-stage systems accounted for 47.1% in 2024, while multi-stage systems are expected to have the highest CAGR over 2025-2032.

Thermoelectric cooling technology held the largest share of the market in 2024 at 70.4%, due to its compact size, reliability, and environmental friendliness. Electrocaloric cooling is expected to see the highest CAGR from 2025-2032. Healthcare accounted for 47.3% of the market in 2024, with consumer electronics expected to witness the highest CAGR from 2025-2032.

Recent developments include a high-performance, thin-film Peltier refrigerator by Samsung and Johns Hopkins APL, and MEMS-based solid state cooling in the Samsung Galaxy Book4 Edge by Frore Systems. The market report includes insights on market size, segments, competitive landscape, regional analysis, and key players like Thermoelectric Cooling America and Cooler Master.



Read more at GlobeNewswire: Solid State Cooling Market Size to Reach USD 1759.10