Comprehensive Analysis and Forecast of the Solid-State Cooling Market Through 2035, by Type, Application, End-User, and Geography
Overview:
The solid-state cooling market is poised for substantial expansion in the coming years, driven by increasing demand for energy-efficient and environmentally friendly cooling solutions. In 2025, the market is projected to reach USD 592.15 million, and further growth is anticipated over the forecast period.
A compound annual growth rate (CAGR) of 6.5% from 2025 to 2035 is expected, leading to a market value of USD 1111.55 million by 2035. This growth is propelled by the rising adoption of solid-state cooling technologies across various sectors due to their superior efficiency and reduced environmental impact.
The increasing demand for efficient thermal management in electronics, healthcare, automotive, and aerospace is significantly contributing to market growth. Solid-state cooling solutions offer precise temperature control, compact size, and minimal noise, making them ideal for sensitive applications.
Major regions, including North America, Europe, and Asia Pacific, are witnessing strong demand for solid-state cooling technologies. The U.S., China, and Germany are at the forefront of this demand, driven by technological advancements and stringent environmental regulations.
Key players in the market are focusing on innovation and strategic collaborations to enhance their market presence. These efforts are aimed at developing advanced solid-state cooling solutions that cater to the evolving needs of diverse end-user industries.
The future of the solid-state cooling market looks promising, with ongoing research and development activities expected to yield further advancements. These innovations will likely drive the adoption of solid-state cooling technologies in new applications and industries.
Year On Year Growth Chart
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| Report Attribute | Details |
|---|---|
| Market Size in 2025 | USD 592.15 million |
| Revenue Forecast for 2035 | USD 1111.55 million |
| Growth Rate (CAGR) | 6.5% from 2025 to 2035 |
| Base Year for Estimation | 2024 |
| Historical Data | 2020 – 2024 |
| Forecast Period | 2025 – 2035 |
| Quantitative Units | Revenue in USD million and CAGR from 2025 to 2035 |
| Report Coverage | Revenue forecast, company market share, competitive landscape, growth factors, and trends |
| Covered Segments | Type, Product, End-user Industry, and Region |
| Regional Scope | North America, Europe, Asia Pacific |
| Country Scope | U.S., Canada, U.K., Germany, France, Italy, South Korea, Japan, China |
| Key Companies Analyzed | Laird Thermal Systems, Coherent Corp. (II-VI Incorporated), Ferrotec Corporation, TE Technology, Crystal Ltd. |
| Customization Options | Free report customization (up to 8 analysts working days) with purchase. Changes to country, regional, and segment scope |
| Pricing and Purchase Options | Customizable purchase options for tailored research needs |
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Key Companies Market Share
Report Coverage & Deliverables
- Market Trends And Dynamics
- Competitve Benchmarking
- Historical data and forecasts
- Value/Volume analysis
- Company revenue shares and key strategies
- Regional opportunities
This is an indicative segmentation. Please request a sample report to see detail segmentation of this market.
Detailed Market Segmentation
- By Type
- Thermoelectric
- Magnetocaloric
- Electrocaloric
- Other Types
- By Product
- Direct Cooling Systems
- Indirect Cooling Systems
- By End-user Industry
- Electronics
- Healthcare
- Automotive
- Aerospace
- Other Industries
- By Region
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy)
- Asia Pacific (China, Japan, South Korea)
Table of Content
- Executive Summary
- Market Definition and Overview
- Global Economic Outlook
- Solid-State Cooling Market Dynamics
- Key Market Trends
- Supply Chain Analysis
- Regulatory Landscape
- Solid-State Cooling Market Analysis 2025-2035, by Type
- Thermoelectric Cooling
- Magnetocaloric Cooling
- Electrocaloric Cooling
- Other Types
- Solid-State Cooling Market Analysis 2025-2035, by Product
- Direct Cooling Systems
- Indirect Cooling Systems
- Solid-State Cooling Market Analysis 2025-2035, by End-user Industry
- Electronics
- Healthcare
- Automotive
- Aerospace
- Other Industries
- Solid-State Cooling Market Analysis 2025-2035, by Region
- North America
- Europe
- Asia Pacific
- North America Solid-State Cooling Market Analysis 2025-2035
- Europe Solid-State Cooling Market Analysis 2025-2035
- Asia Pacific Solid-State Cooling Market Analysis 2025-2035
- Competitive Landscape
- Company Profiles
- Laird Thermal Systems
- Coherent Corp. (II-VI Incorporated)
- Ferrotec Corporation
- TE Technology
- Crystal Ltd.
- Strategic Recommendations
- Research Methodology
- Assumptions and Limitations