Magnetic Refrigeration Market is highly fragmented and is based on new product launches and clinical results of products.

Pune, India -- (SBWire) -- 05/29/2018 --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.

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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).

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Global Magnetic Refrigeration Market Company Analysis:

- 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

Market Definition:

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

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Market Segmentation:

On the basis of Product, the Magnetic Refrigeration Market is segmented into refrigeration systems, Air Conditioning Systems and heat pumps. The refrigeration systems are further segmented into Refrigerators, Cabinet Display Freezers, Beverage Coolers and Ice Cream Cabinets. The air conditioning systems are further segmented into Stationary Air Conditioners, Mobile Air Conditioners, and Chillers. Air conditioned segmented market is expected to grow in the forecasted period.

On the basis of application the Magnetic Refrigeration Market is segmented into Residential Domestic, Commercial, Transportation and industrial. The transportation market is further segmented into Logistics, Automotive, Aerospace, and Marine. The commercial market is expected to grow in the forecasted period.

On the basis of geography, Magnetic Refrigeration Market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

Research Methodology:

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

Demand Side Primary Contributors: Doctors, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.

Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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