Solar-powered Vaccine Refrigerator Market Will Generate Record Revenue by 2029

The global solar-powered vaccine refrigerator market is anticipated to grow at a CAGR of nearly 6.5% during the forecast period. The solar-powered vaccine refrigerator plays an important role during the COVID-19 pandemic. As per the article published by Solarkiosk Solutions GmbH, in December 2020, around 75% of the population across the globe must be vaccinated. A big operational and infrastructural challenge, in order to achieve this goal, COVID-19 vaccines have to be transported and stored in a certain temperature-controlled environment. If vaccines are not stored correctly, they stop working effectively. Their potency is affected when they are stored outside of the correct temperature range. However, many countries have not done vaccination due to the lack of adequate cold storage infrastructure to properly store their COVID-19 vaccines at the required temperatures. As per the AP news, vaccine (cold) storage issues could leave 3 billion people without access to the much-needed vaccinations. Further, it has also been estimated by World Health Organization (WHO) that only 28% of health facilities have access to reliable electricity and which can deploy efficient cold vaccine storage within the campus. Having this cold storage capacity available will be crucial in governments' COVID-19 vaccine distribution efforts. Such factors have forced government and various market players to expand their relationship and eradicate the problem the vaccine storage.

For instance, in November 2022, Pan American Health Organization (PAHO) in collaboration with the government of Canada and Bureau of Public Health initiated National Immunization Program. Through this partnership, the government aims to provide the country with support for various pillars of the COVID-19 response including vaccination roll-out in keeping with the COVID-19 National Vaccination Deployment Plan. As a part of the plan, the government and PAHO has donated two pharmaceutical refrigerators and 1 freezer to BOG in January 2022.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

• By Type

• By Temperature Range

• By End-User

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

Competitive Landscape- Qingdao Amed Commercial Refrigeration Equipment Co., Ltd, QINGDAO HERALD CRYOGENIC TECHNOLOGY CO., LTD, Renaissance Energy Systems, RuthurEnergy Ltd., Sundanzer, and Vestfrost Solutions, among others.

Solar-powered Vaccine Refrigerator Market Segmentation

By Type

· Chest Freezer

· Upright Freezer

By Temperature Range

· Low-Temperature Freezer

· Ultra-Low-Temperature Freezer

By End-user

· Blood Banks

· Hospitals

· Academic and Research Institutes

· Pharmaceutical Companies

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Regional Analysis

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

Company Profiles

• Haier Group Corp.

• Meditech Technologies India Pvt. Ltd.

• Neumann & Miller

• QINGDAO HERALD CRYOGENIC TECHNOLOGY CO., LTD.

• Renaissance Energy Systems

• Ruthur Energy Ltd.

• Sundanzer

• Sure Chill

• Vestfrost Solutions

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