Solar Freezer Market to Worth US$ 13.4 Billion by 2028 | With a Striking 5.9% CAGR - IMARC Group

As per the latest report by IMARC Group, titled "Solar Freezer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global solar freezer market size reached US$ 9.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

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What is Solar Freezer?

A solar freezer is a cooling unit that uses solar energy to power a highly efficient direct current (DC) cooler to store drinks or food. It typically uses photovoltaic panels or solar thermal collectors to capture solar energy, which is then used to run the compressor to cool the air inside the freezer. Solar arrays, batteries, panel support structures, and highly insulated freezing containers are some of the components of a solar freezer. It is largely used for storing drugs, temperature-sensitive vaccines, and other pharmaceutical products to prevent spoilage and contamination. When compared to traditionally used freezers, solar freezers have longer operational life, are environment-friendly, and can run on DC power. Currently, it is available in solar-direct and solar battery-based variants and finds extensive applications across the healthcare, food and beverage (F&B), and pharmaceutical sectors.

Global Solar Freezer Market Trends:

The increasing environmental awareness has surged the demand for renewable energy-based refrigeration systems, such as solar freezers, which represents one of the primary factors accelerating the market growth. Additionally, the recent COVID-19 outbreak significantly increased the demand for solar freezers across healthcare centers for storing blood bags, vaccines, and medications, which, in turn, is creating a positive outlook for the market. Other factors, such as rapid urbanization, the increasing demand for cost-effective refrigeration in remote and rural areas, and the rising consumer expenditure power, are positively contributing to the market growth.

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Who are the key players operating in the industry?

The report covers the major market players including: 

B Medical Systems
Connexa
Dulas Ltd
KATEK Memmingen GmbH
Kyocera Corporation
Rockwell Industries Limited
Sholep Energy Ltd
Sundanzer
The Sure Chill Company Limited
Unique Appliances Ltd and Vestfrost Solutions.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

Solar-Battery Based
Solar-Direct Drive

Breakup by Capacity:

Less Than 250 Ltrs
250-500 Ltrs
More Than 500 Ltrs

Breakup by End Use:

Medical
Hospitals
Pharmacies and Vaccines
Blood Banks
Others
Household
Infrastructure
Commercial
Others

Breakup by Region:

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

Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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