Press release
Solar Freezer Market Expected to Hit a Valuation of US$ 15.6 Billion, With a CAGR of 5.15% During 2024-2032
How Big is the Solar Freezer Market?
The global solar freezer market size reached US$ 9.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.15% during 2024-2032.
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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.
Leading Companies Operating in the Global Solar Freezer Industry:
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.
Solar Freezer Market Segmentation:
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
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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