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Market Analysis: Magnetic Refrigeration Market
The Global Magnetic Refrigeration Market accounted to USD 6 billion in 2016 growing at a CAGR of 98.8% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Magnetic Refrigeration Market
Magentic refrigeration is based on the principle of Magnetocaloric Effect (MCE). magnetocaloric effect is a phenomenon where Magnetocaoric materials gets heated up when they are immersed in the magnetic field and cool down when removed from it, almost instantly. Magnetic refrigeration is safer, compact, and quieter and it is higher cooling efficient as compared to the traditional gas compression refrigeration. A series of the magnetization-demagnetization cycles to the magnecto caloric alloys is applied in a magnetic refrigeration system.
Major Market Drivers and Restraints:
Low energy consumption by magnetic refrigeration systems
Alternative to air conditioners and heat pumps
Increasing focus on green technology
Low awareness
High cost of equipment
Magnetic Refrigeration Market Research & Forecast by 2024
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Magnetic Refrigeration Market
Global Magnetic Refrigeration Market accounted to USD 6 billion in
2016 growing at a CAGR of 98.8% during the forecast period of 2017 to
2024. The upcoming market report contains data for historic years
2015, the base year of calculation is 2016 and the forecast period is
2017 to 2024.
Browse Full Report:
http://databridgemarketresearch.com/reports/global-
magnetic-refrigeration-market/
Global Magnetic Refrigeration Market 2018 -
Industry Trends and Forecast to 2024
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Global Magnetic Refrigeration Market, By Product{ refrigeration
systems (Refrigerators, Cabinet Display Freezers, Beverage Coolers, Ice
Cream Cabinets), Air Conditioning Systems (Stationary Air
Conditioners, Mobile Air Conditioners, Chillers), Heat Pumps} By
Application{ Domestic, Commercial, Transportation(Logistics,
Automotive, Aerospace, Marine), Industrial(Food & Beverage
Processing and Storage, Healthcare), By Geography (North America,
Europe, Asia-Pacific, Europe, South America, Middle East and Africa) –
Industry Trends and Forecast to 2024.
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Report Description
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Market Drivers & Restraints
• Low energy consumption by magnetic refrigeration
systems
• Alternative to air conditioners and heat pumps
• Increasing focus on green technology
• Low awareness
• High cost of equipment
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magnetic-refrigeration-market
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On the basis of Product, the Magnetic Refrigeration Market is
segmented into refrigeration systems, Air Conditioning Systems
and heat pumps.
On the basis of application the Magnetic Refrigeration Market is
segmented into Residential Domestic, Commercial, Transportation
and industrial.
Market Segmentation
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Top Key Companies
• Cooltech Applications
• Camfridge Ltd
• Astronautics Corporation of America
• Whirlpool Corporation
• Qingdao Haier Co. Ltd.
• BASF SE
• Eramet S.A.
• Samsung Electronics Co., Ltd
• Toshiba Corporation
• VACUUMSCHMELZE GMBH & CO. KG
• Sigma-Aldrich Corporation
• GE,.
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