Rising Electric Vehicle Adoption Accelerates Growth In The Solid-State Cooling Market: Strategic Insights Driving Solid State Cooling Market Momentum in 2025

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

How Large Will the Solid State Cooling Market Size By 2025?
In recent times, the solid state cooling market has experienced a swift expansion in its size. An increase from $0.73 billion in 2024 to $0.82 billion in 2025 is projected, exhibiting a compound annual growth rate (CAGR) of 12.2%. The growth during the historical period is largely credited to a heightened awareness of environmental implications, the demand for trustworthy and long-lasting cooling systems, the surge in acceptance of electric vehicles, the quick expansion of consumer electronics, and the advent of industrial automation.

How Big Is the Solid State Cooling Market Size Expected to Grow by 2029?
The market size for solid state cooling is anticipated to experience swift expansion in the coming years, predicted to rise to $1.29 billion by 2029, recording a compound annual growth rate (CAGR) of 11.9%. The projected growth over the forecast period is ascribed to escalating investment in R&D, enlargement of data centers, tighter energy consumption regulations, growing application of thermoelectric coolers, and increasing need for superior cooling solutions in the defense and aerospace industries. Critical trends forecasted for this period consist of progress in thermoelectric materials, breakthroughs in materials science and semiconductor technology, the rise of electric and hybrid vehicles, and improved reliability and longevity of solid-state cooling devices.

View the full report here:
https://www.thebusinessresearchcompany.com/report/solid-state-cooling-global-market-report

Which Key Market Drivers Powering Solid State Cooling Market Expansion and Growth?
The solid-state cooling market is predicted to see significant growth due to the rising demand for electric vehicles. Electric vehicles, which run on electric motors and batteries instead of internal combustion engines, are gaining popularity due to factors such as environmental sustainability, lower maintenance costs, government incentives, advancements in battery technology, and an expanding charging infrastructure. Solid-state cooling provides efficient thermal management in electric vehicles without the need for traditional refrigerants, thus improving battery life and performance through small, dependable technology. For instance, in October 2023, a report by the International Energy Agency, which is based in France, stated that nearly 66,000 electric buses and 60,000 medium and heavy-duty trucks were sold around the world in 2022, accounting for approximately 4.5% of total bus sales and 1.2% of all truck sales. Additionally, China saw its market share of electric trucks climb from 1.5% in 2021 to 3.9% in 2022, illustrating a considerable upsurge in just a year. Hence, the growing prevalence of electric vehicles is fueling the expansion of the solid-state cooling market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16794&type=smp

Which Fast-Growing Trends Are Poised to Disrupt the Solid State Cooling Market?
Leading corporations within the solid-state cooling sector are investing in the invention of highly sophisticated items, such as micro multistage thermoelectric coolers, to improve cooling proficiency and extend applications for solid-state cooling techniques. A micro multistage thermoelectric cooler (micro TEC) is a cooling apparatus that relies on a solid-state system and comprises numerous individual thermoelectric coolers wired in series to achieve substantially lower temperatures than what a single-stage device can accomplish. For example, in June 2023, Laird Thermal Systems, a company based in the U.S. that specializes in developing and manufacturing standard and custom thermoelectric coolers, cooling units, and liquid cooling systems, introduced the OptoTEC MSX series of micro multistage thermoelectric coolers. They also presented the ability to incorporate these coolers into multiple optical packages, including the popular TO-39, TO-46, or TO-8, resulting in state-of-the-art optical thermoelectric assemblies (TEAs). The MSX series makes use of cutting-edge ceramic materials, unique solder binding methodologies, and the latest thermoelectric materials to increase cooling capacity by up to 10%, all in a compact micro size. Specially designed for high-performance image detection objectives, optical TEAs are extensively deployed in analytical, industrial, and aerospace sectors.

What Are the Emerging Segments in the Solid State Cooling Market?
The solid state cooling market covered in this report is segmented -

1) By Type: Single Stage, Multi Stage, Thermocycler
2) By Technology: Thermoelectric Cooling, Electro-Caloric Cooling, Magneto-Caloric Cooling, Other Technologies
3) By Product: Refrigeration System, Refrigerators, Freezers, Cooling System, Air Conditioners, Chillers
4) By End User: Medical, Automotive, Consumer, Semiconductor And Electronics, Other End Users

Subsegments:
1) By Single Stage: Thermoelectric Single Stage Coolers, Single Stage Peltier Coolers
2) By Multi Stage: Multi Stage Thermoelectric Coolers, Cascaded Peltier Coolers
3) By Thermocycler: PCR Thermocyclers, Real-Time PCR Thermocyclers, Digital PCR Thermocyclers

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=16794&type=smp

Who Are the Global Leaders in the Solid State Cooling Market?
Major companies operating in the solid state cooling market are Komatsu Ltd., TE Connectivity Ltd., LG Innotek, Delta Electronics Inc., AMS Technologies AG, Coherent Corporation, Ferrotec Holdings Corporation, Wakefield-Vette Inc., Laird Thermal Systems Inc., Phononic Inc., CUI Inc., RMT Ltd., Crystal Ltd., INHECO Industrial Heating & Cooling GmbH, Kryotherm Co., P&N Technology Co. Ltd., Everredtronics Ltd., Align Sourcing LLC, Hi-Z Technology Inc., Merit Technologies LLC, Micropelt GmbH, TEC Microsystems GmbH, TECA Corporation, Thermal Electronics Corp., Thermion Inc.

Which are the Top Profitable Regional Markets for the Solid State Cooling Industry?
North America was the largest region in the solid state cooling market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solid state cooling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16794

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.