United States Solid-State Cooling Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

Solid-State Cooling Market is expected to grow at a CAGR of 10% during the forecast period 2024-2031

Recent Mergers and acquisitions:

United States: Recent M&A in Solid-State Cooling

✅ May 13, 2025 - Samsung Electronics announced its acquisition of Germany's FlaktGroup for €1.5 billion ($1.68 billion). This move aims to bolster Samsung's capabilities in cooling solutions for high-demand data centers, especially those supporting artificial intelligence workloads.

✅ May 29, 2024 - Frore Systems secured an $80 million Series C funding round, bringing its total raised capital to $196 million. This investment aims to scale operations and expand the product line to meet the growing demand for AirJet Solid-State Active Cooling solutions, particularly in AI and data center applications.

✅ May 8, 2024 - Pascal, a startup focused on solid refrigerants, raised $8 million in seed funding from The Engine, Khosla Ventures, and Blindspot Ventures. The funds will support the development of a large-scale commercial demonstration system using low-pressure solid refrigerants for HVAC applications.

✅ October 19, 2023 - Zotac launched the Zbox PI430AJ, the world's first mini-PC featuring solid-state active cooling. This compact device utilizes Frore Systems' AirJet technology to provide efficient thermal management without traditional fans.

Japan: Recent M&A in Solid-State Cooling

✅ November 8, 2024 - Pascal was recognized by Chemical & Engineering News as one of the "10 Startups to Watch" for 2024. The company's innovative approach to solid refrigerants positions it as a leader in sustainable cooling technologies.

✅ August 25, 2024 - Phononic presented its scalable solid-state cooling platform at the Hot Chips 2024 conference. The technology aims to enhance thermal efficiency in data centers, optoelectronics, and cold chain logistics, aligning with global trends toward low-emission cooling solutions.

✅ June 27, 2024 - Frore Systems introduced the AirJet Mini Sport, a waterproof solid-state active cooling device designed for IP68-rated devices like smartphones and action cameras. This innovation addresses thermal management challenges in compact, rugged electronics.

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Solid-state cooling is a technology that uses thermoelectric or magnetocaloric materials to transfer heat without moving parts, refrigerants, or compressors. It offers energy-efficient, compact, and environmentally friendly cooling solutions for electronics, automotive, and industrial applications, with precise temperature control and reduced maintenance needs.

Key Players:

=> Ferrotec, Laird Thermal Systems, II-VI Marlow, TE Technology, and TEC Microsystems. Other key players in the market include Crystal Ltd., Kryotherm, RMT Ltd, Thermion Company, and Thermonamic Electronics.

Growth Forecast Projected:

The Global Solid-State Cooling Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Solid-State Cooling Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Product: Refrigeration System, Cooling System
➥ By Type: Single Stage, Multi-Stage, Thermocycler
➥ By End User: Automotive, Semiconductor & Electronics, Healthcare, Consumer, Others

Regional Analysis for Solid-State Cooling Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Solid-State Cooling producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Solid-State Cooling revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

Q: What is the growth rate of the Solid-State Cooling Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 10% during the forecast period from 2024 to 2031.

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