솔리드 스테이트 냉각 시장 – 2030년까지의 세계 예측

Solid State Cooling Market – Global Forecast to 2030

솔리드 스테이트 냉각 시장 – 냉각 시스템, 냉동 시스템, 열전 냉각, 전기 열량 냉각, 자기 열량 냉각, 냉각기, 냉각기, 에어컨, 냉장고, 냉동고 – 2030년까지 세계 예측

Solid State Cooling Market by Cooling System, Refrigeration System, Thermoelectric Cooling, Electrocaloric Cooling, Magnetocaloric Cooling, Chiller, Cooler, Air Conditioner, Refrigerator and Freezer – Global Forecast to 2030

　　　　주문/문의　　　　조사회사/라이센스/납기안내

본 연구 보고서는 제품(냉각 시스템 및 냉장 시스템), 기술(열전 냉각, 전기열 냉각, 자기열 냉각 및 기타 기술), 산업(자동차, 가전 및 반도체, 의료 및 기타 산업), 지역(북미, 유럽, 아시아 태평양, RoW)을 기준으로 솔리드 스테이트 냉각 시장을 분류합니다. 본 보고서는 솔리드 스테이트 냉각 시장의 주요 성장 동력, 제약, 과제 및 기회를 설명하고 2030년까지의 시장 전망을 제시합니다. 또한, 솔리드 스테이트 냉각 생태계에 포함된 모든 기업에 대한 리더십 매핑 및 분석도 제공합니다.

The global solid state cooling market is expected to reach USD 0.97 billion in 2025 and USD 1.93 billion by 2030, registering at a CAGR of 14.8% from 2025 to 2030. The rising demand for silent, vibration-free cooling in sensitive medical and laboratory devices and the growing adoption of low-maintenance thermal solutions in industrial automation, telecom, and semiconductor manufacturing are key drivers. Furthermore, the increasing use of solid state cooling in electric vehicles for localized battery and cabin temperature control augments the demand for solid state cooling systems.

세계 솔리드 스테이트 냉각 시장은 2025년에 9억 7천만 달러, 2030년에는 19억 3천만 달러 규모로 성장하여 2025년부터 2030년까지 연평균 성장률 14.8%를 기록할 것으로 예상됩니다. 민감한 의료 및 실험실 장비에서 저소음, 무진동 냉각에 대한 수요 증가와 산업 자동화, 통신, 반도체 제조 분야에서 유지보수가 용이한 열 솔루션 도입 증가가 주요 성장 동력입니다. 또한, 전기차에서 배터리 및 차량 내부 온도 제어를 위한 솔리드 스테이트 냉각 시스템 사용이 증가함에 따라 솔리드 스테이트 냉각 시스템 수요도 증가하고 있습니다.

“Refrigerators segment is expected to hold the largest share of the market for refrigeration systems  in 2025.”

The refrigerators segment is expected to hold the largest share of the solid state cooling market for refrigeration systems in 2025 due to their widespread use across residential, commercial, and medical applications. Solid state cooling refrigerators, which utilize thermoelectric cooling, offer several advantages over traditional systems, including silent operation, compact size, no use of refrigerants, and low maintenance. These features make them particularly suitable for small-scale cooling needs such as mini-fridges, portable medical storage units, and specialty refrigeration in premium consumer appliances. Additionally, the increasing demand for energy-efficient and environmentally friendly refrigeration options and the rising adoption of portable and compact refrigeration systems in healthcare and personal use continue to drive its dominance. As material efficiency improves and manufacturing costs decline, solid state cooling refrigerators are becoming a more viable and attractive solution for developed and emerging markets.

“Air conditioners segment is projected to witness the highest CAGR in market for cooling systems segment between 2025 and 2030.”

The air conditioners segment is expected to register the highest CAGR in the market for cooling systems during the forecast period due to the growing demand for compact, energy-efficient, and refrigerant-free alternatives to traditional HVAC systems. Solid state cooling air conditioning systems, particularly those based on thermoelectric and electrocaloric technologies, offer silent operation, precise temperature control, and the potential for integration into localized or personal climate zones. With increasing focus on sustainability and environmental regulations targeting the reduction of greenhouse gas emissions from conventional air conditioners, industries and consumers are exploring solid state cooling solutions for residential, automotive, and commercial applications. Ongoing R&D and material advancements improve system performance and scalability, making solid state cooling air conditioning increasingly attractive for next-generation climate control solutions in space-constrained or off-grid environments.

“China is expected to exhibit the highest CAGR in the global solid state cooling market from 2025 to 2030.”

China is likely to exhibit the highest CAGR in the global solid state cooling market during the forecast period due to its rapidly expanding electronics manufacturing base, strong push for electric vehicle adoption, and growing demand for energy-efficient thermal solutions across medical, industrial, and consumer sectors. The focus on reducing reliance on conventional refrigerant-based systems, supported by favorable government policies and R&D funding, boosts the adoption of solid state cooling technologies. Additionally, the presence of major component manufacturers, rising domestic consumption, and ongoing advancements in thermoelectric materials position China as a key growth engine in the global market.

Extensive primary interviews were conducted with key industry experts in the solid state cooling market space to determine and verify the market size for various segments and subsegments gathered through secondary research. The breakdown of primary participants for the report is shown below:

The study contains insights from various industry experts, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

• By Company Type: Tier 1 – 10%, Tier 2 – 55%, and Tier 3 – 35%
• By Designation: C-level Executives – 45%, Managers – 25%, and Others – 30%
• By Region: North America – 15%, Europe – 20%, Asia Pacific – 55%, and RoW – 10%

Ferrotec Holdings Corporation (Japan), Coherent Corp. (US), Delta Electronics, Inc. (Taiwan), Komatsu Ltd. (Japan), and Tark Thermal Solutions (US) are some of the key players in the solid state cooling market.

Research Coverage:

This research report categorizes the solid state cooling market based on product (cooling systems and refrigeration systems), technology (thermoelectric cooling, electrocaloric cooling, magnetocaloric cooling, and other technologies), vertical (automotive, consumer electronics & semiconductors, healthcare, and other verticals), and region (North America, Europe, Asia Pacific, and RoW). The report describes the major drivers, restraints, challenges, and opportunities pertaining to the solid state cooling market and forecasts the same till 2030. Apart from this, the report also consists of leadership mapping and analysis of all the companies included in the solid state cooling ecosystem.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants in this market by providing information on the closest approximations of the revenue numbers for the overall solid state cooling market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

• Analysis of key drivers (surging demand for energy-efficient cooling solutions; rising implementation of IoT-enabled smart home devices; growing adoption of electric and hybrid electric vehicles; booming data center industry), restraints (high initial investment and manufacturing costs associated with solid state cooling technology; complexities in integrating solid state cooling solutions into existing systems and infrastructure; regulatory barriers and standards compliance requirements in healthcare and automotive industries), opportunities (emerging applications of solid state cooling technology in aerospace, defense, and consumer sectors; growing industrialization and urbanization), and challenges (complexities in designing and engineering solid state cooling systems for diverse applications and operating conditions; shortage of qualified experts with technical know-how regarding thermoelectric cooling and thermal management) influencing the growth of the solid state cooling market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the solid state cooling market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the solid state cooling market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the solid state cooling market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players, such as Ferrotec Holdings Corporation (Japan), Coherent Corp. (US), Delta Electronics, Inc. (Taiwan), Komatsu Ltd. (Japan), and Tark Thermal Solutions (US) in the solid state cooling market

Table of Contents

1               INTRODUCTION              23

1.1           STUDY OBJECTIVES       23

1.2           MARKET DEFINITION   23

1.3           STUDY SCOPE   24

1.3.1        INCLUSIONS AND EXCLUSIONS 24

1.3.2        MARKETS COVERED AND REGIONAL SCOPE      25

1.3.3        YEARS CONSIDERED      25

1.4           CURRENCY CONSIDERED            26

1.5           UNIT CONSIDERED        26

1.6           LIMITATIONS    26

1.7           STAKEHOLDERS               26

1.8           SUMMARY OF CHANGES               27

2               RESEARCH METHODOLOGY       28

2.1           RESEARCH DATA              28

2.1.1        SECONDARY DATA          29

2.1.1.1    Major secondary sources     30

2.1.1.2    Key data from secondary sources       30

2.1.2        PRIMARY DATA 30

2.1.2.1    List of key participants in primary interviews  31

2.1.2.2    Key data from primary sources           31

2.1.2.3    Key industry insights           32

2.1.2.4    Breakdown of primaries      32

2.1.3        SECONDARY AND PRIMARY RESEARCH 33

2.2           MARKET SIZE ESTIMATION         33

2.2.1        BOTTOM-UP APPROACH              34

2.2.1.1    Approach to estimate market size using bottom-up analysis (demand side)       35

2.2.2        TOP-DOWN APPROACH                36

2.2.2.1    Approach to estimate market size using top-down analysis (supply side)         36

2.3           DATA TRIANGULATION                37

2.4           RESEARCH ASSUMPTIONS           38

2.5           RISK ASSESSMENT           39

2.6           RESEARCH LIMITATIONS             39

3               EXECUTIVE SUMMARY  40

4               PREMIUM INSIGHTS       44

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SOLID STATE COOLING MARKET           44

4.2           SOLID STATE COOLING MARKET, BY PRODUCT                 45

4.3           SOLID STATE COOLING MARKET, BY VERTICAL                 45

4.4           SOLID STATE COOLING MARKET, BY REGION   46

5               MARKET OVERVIEW       47

5.1           INTRODUCTION              47

5.2           MARKET DYNAMICS       47

5.2.1        DRIVERS               48

5.2.1.1    Surging demand for energy-efficient cooling solutions  48

5.2.1.2    Rising implementation of IoT-enabled smart home devices                 49

5.2.1.3    Growing adoption of electric and hybrid electric vehicles                 49

5.2.1.4    Thriving data center industry             50

5.2.2        RESTRAINTS      51

5.2.2.1    High initial investment and manufacturing costs associated with solid state cooling technology             52

5.2.2.2    Complexities associated with integrating solid state cooling solutions into existing systems and infrastructure           52

5.2.2.3    Regulatory barriers and standards compliance requirements                 52

5.2.3        OPPORTUNITIES              53

5.2.3.1    Growing deployment in aerospace, defense, and consumer sectors    53

5.2.3.2    Expanding industrialization and urbanization 54

5.2.4        CHALLENGES    54

5.2.4.1    Complexities associated with designing and engineering solid state cooling systems            55

5.2.4.2    Shortage of qualified experts with technical knowledge 55

5.3           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            56

5.4           PRICING ANALYSIS          57

5.4.1        AVERAGE SELLING PRICE OF CHILLERS, BY KEY PLAYER, 2024        57

5.4.2        AVERAGE SELLING PRICE TREND OF CHILLERS, BY REGION, 2020–2024           58

5.5           VALUE CHAIN ANALYSIS               59

5.6           ECOSYSTEM ANALYSIS  60

5.7           INVESTMENT AND FUNDING SCENARIO               62

5.8           TECHNOLOGY ANALYSIS             63

5.8.1        KEY TECHNOLOGIES     63

5.8.1.1    Thermoelectric cooling        63

5.8.1.2    Magnetic cooling  63

5.8.1.3    Electrocaloric cooling           63

5.8.1.4    Thermoelastic cooling         63

5.8.2        COMPLEMENTARY TECHNOLOGIES       63

5.8.2.1    Heat exchangers   63

5.8.2.2    Thermal interface materials (TIMs) 64

5.8.2.3    Temperature sensors and control systems       64

5.8.2.4    Power electronics and drivers             64

5.8.3        ADJACENT TECHNOLOGIES       64

5.8.3.1    Thermal management solutions         64

5.8.3.2    Energy harvesting systems  64

5.9           PATENT ANALYSIS          65

5.10         TRADE ANALYSIS             68

5.10.1      IMPORT DATA  68

5.10.2      EXPORT DATA  69

5.11         KEY CONFERENCES AND EVENTS, 2025–2026        70

5.12         CASE STUDY ANALYSIS 71

5.12.1      INTEL INTEGRATED PHONONIC’S SOLID STATE COOLING TECHNOLOGY INTO ITS DATA CENTERS TO REDUCE ENERGY CONSUMPTION AND ENVIRONMENTAL IMPACT                 71

5.12.2      THERMO FISHER SCIENTIFIC INCORPORATED TE TECHNOLOGY’S SOLID-STATE COOLING MODULES INTO ITS ULTRA-LOW TEMPERATURE FREEZERS TO ENSURE PRECISE TEMPERATURE CONTROL AND STABILITY         72

5.12.3      BMW GROUP IMPLEMENTED II-VI MARLOW’S THERMOELECTRIC COOLING MODULES IN ELECTRIC VEHICLES TO ENSURE EFFICIENT OPERATION AND PREVENT OVERHEATING 72

5.12.4      PHILIPS HEALTHCARE INTEGRATED LAIRD’S SOLID-STATE COOLING MODULES INTO ITS MEDICAL IMAGING EQUIPMENT TO MAINTAIN OPTIMAL OPERATING TEMPERATURE 73

5.12.5      NASA PARTNERED WITH ATG TO DEVELOP SOLID STATE COOLING SYSTEMS FOR SPACE MISSIONS             73

5.13         STANDARDS AND REGULATORY LANDSCAPE    74

5.13.1      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             74

5.13.2      STANDARDS AND REGULATIONS RELATED TO SOLID STATE COOLING MARKET           77

5.13.2.1  International Electrotechnical Commission (IEC) standards                 77

5.13.2.2  Underwriters Laboratories (UL) Standards     77

5.13.2.3  ISO standards       77

5.13.2.4  Energy star certification      78

5.13.2.5  Safety regulations 78

5.14         PORTER’S FIVE FORCES ANALYSIS            78

5.14.1      THREAT OF NEW ENTRANTS      79

5.14.2      THREAT OF SUBSTITUTES          79

5.14.3      BARGAINING POWER OF SUPPLIERS       80

5.14.4      BARGAINING POWER OF BUYERS             80

5.14.5      INTENSITY OF COMPETITION RIVALRY 80

5.15         KEY STAKEHOLDERS AND BUYING CRITERIA     81

5.15.1      KEY STAKEHOLDERS IN BUYING PROCESS           81

5.15.2      BUYING CRITERIA           82

5.16         IMPACT OF 2025 US TARIFF ON SOLID STATE COOLING MARKET               82

5.16.1      INTRODUCTION              82

5.16.2      KEY TARIFF RATES          83

5.16.3      PRICE IMPACT ANALYSIS             84

5.16.4      IMPACT ON COUNTRY/REGION                84

5.16.4.1  US           84

5.16.4.2  Europe   84

5.16.4.3  Asia Pacific            84

5.16.5      IMPACT ON VERTICALS                85

6               COMPONENTS OF SOLID STATE COOLING SYSTEMS                 86

6.1           INTRODUCTION              86

6.2           REFRIGERATION SYSTEM COMPONENTS             86

6.2.1        TEC MODULES (REFRIGERATION-GRADE)           86

6.2.2        COMPACT CONTROL UNITS       86

6.2.3        THERMAL INTERFACE MATERIALS          87

6.2.4        OTHER COMPONENTS IN REFRIGERATION SYSTEMS                 87

6.3           COOLING SYSTEM COMPONENTS           87

6.3.1        HIGH-CAPACITY TEC MODULES/CASCADE TECS                 87

6.3.2        SMART CONTROL BOARDS         87

6.3.3        HEAT SPREADERS & HEAT SINKS              88

6.3.4        THERMAL INTERFACE MATERIALS          88

6.3.5        OTHER COMPONENTS IN COOLING SYSTEMS   88

7               SOLID STATE COOLING MARKET, BY PRODUCT                 89

7.1           INTRODUCTION              90

7.2           REFRIGERATION SYSTEMS          91

7.2.1        REFRIGERATORS              95

7.2.1.1    Advancements in materials science, semiconductor technology, and thermal management to boost segmental growth    95

7.2.2        FREEZERS            96

7.2.2.1    Increasing demand for energy-efficient and environmentally friendly cooling solutions to drive market         96

7.3           COOLING SYSTEMS        96

7.3.1        AIR CONDITIONERS       101

7.3.1.1    Growing demand for cooling solutions with precise control and minimal maintenance to boost demand            101

7.3.2        COOLERS             102

7.3.2.1    Surging demand for compact and high-power electronics to offer lucrative growth opportunities            102

7.3.3        CHILLERS            102

7.3.3.1    Increasing demand for precise temperature control in medical equipment to support market growth                102

8               SOLID STATE COOLING MARKET, BY TECHNOLOGY                 103

8.1           INTRODUCTION              104

8.2           THERMOELECTRIC COOLING    106

8.2.1        GROWING APPLICATIONS IN CONSUMER ELECTRONICS, AUTOMOTIVE, AND MEDICAL DEVICES TO FOSTER MARKET GROWTH         106

8.2.2        TYPES OF THERMOELECTRIC COOLING               107

8.2.2.1    Single-stage           107

8.2.2.2    Multi-stage            107

8.2.2.3    Thermocycler        108

8.3           ELECTROCALORIC COOLING     108

8.3.1        CLIMATE-FRIENDLY COOLING AND RAPID RESPONSE TIME TO DRIVE MARKET              108

8.4           MAGNETOCALORIC COOLING  109

8.4.1        LOW ENERGY CONSUMPTION AND REDUCED NOISE LEVELS TO FOSTER MARKET GROWTH 109

8.5           OTHER TECHNOLOGIES               110

9               SOLID STATE COOLING MARKET, BY VERTICAL                 111

9.1           INTRODUCTION              112

9.2           AUTOMOTIVE   113

9.2.1        ACCELERATED EV ADOPTION TO OFFER LUCRATIVE GROWTH OPPORTUNITIES         113

9.2.2        CASE STUDY: BMW COLLABORATED WITH GENTHERM TO INTEGRATE SOLID STATE COOLING SYSTEMS IN ITS VEHICLES FOR PERSONALIZED CLIMATE CONTROL       114

9.2.3        IMPACT ANALYSIS OF SOLID STATE COOLING TECHNOLOGY TYPES ON AUTOMOTIVE VERTICAL        114

9.3           CONSUMER ELECTRONICS & SEMICONDUCTOR                 116

9.3.1        RISE OF EDGE COMPUTING AND ALWAYS-ON FEATURES IN MOBILE AND IOT DEVICES TO BOOST DEMAND                 116

9.3.2        CASE STUDY: INTEL COLLABORATED WITH TARK THERMAL SOLUTIONS TO INTEGRATE SOLID STATE COOLING TECHNOLOGY INTO CPUS FOR EFFICIENT HEAT DISSIPATION AND THERMAL MANAGEMENT 116

9.3.3        IMPACT ANALYSIS OF SOLID STATE COOLING TECHNOLOGY TYPES ON CONSUMER ELECTRONICS & SEMICONDUCTOR VERTICAL    117

9.4           HEALTHCARE    118

9.4.1        EMPHASIS ON ADDRESSING TEMPERATURE MANAGEMENT CHALLENGES AND IMPROVING PATIENT CARE TO FUEL MARKET GROWTH       118

9.4.2        CASE STUDY: PFIZER COLLABORATED WITH PHONONIC TO DEPLOY SOLID STATE COOLING TECHNOLOGY IN VACCINE STORAGE UNITS TO ENSURE PRECISE TEMPERATURE CONTROL           119

9.4.3        IMPACT ANALYSIS OF SOLID STATE COOLING TECHNOLOGY TYPES ON HEALTHCARE VERTICAL         119

9.5           OTHER VERTICALS         120

9.5.1        CASE STUDY: BOEING COLLABORATED WITH LAIRD THERMAL SYSTEMS TO IMPLEMENT SOLID STATE COOLING TECHNOLOGY IN AIRCRAFT AVIONICS SYSTEMS TO ENHANCE COMPONENT RELIABILITY AND LONGEVITY     121

9.5.2        IMPACT ANALYSIS OF SOLID STATE COOLING TECHNOLOGY TYPES ON OTHER VERTICALS    121

10            SOLID STATE COOLING MARKET, BY REGION   123

10.1         INTRODUCTION              124

10.2         NORTH AMERICA             125

10.2.1      NORTH AMERICA: MACROECONOMIC OUTLOOK                 126

10.2.2      US           128

10.2.2.1  Increasing number of construction projects to boost demand                 128

10.2.3      CANADA               130

10.2.3.1  Growing investment in data centers to fuel market growth                 130

10.2.4      MEXICO                132

10.2.4.1  Rapid urbanization and infrastructure development to boost demand  132

10.3         EUROPE               134

10.3.1      EUROPE: MACROECONOMIC OUTLOOK               135

10.3.2      UK          137

10.3.2.1  Emphasis on developing electric vehicle infrastructure to accelerate market growth    137

10.3.3      GERMANY           139

10.3.3.1  Adoption of Industry 4.0 and smart manufacturing techniques to foster market growth            139

10.3.4      FRANCE                141

10.3.4.1  Rising focus on reducing greenhouse gases to support market growth    141

10.3.5      ITALY    143

10.3.5.1  Rising focus on developing energy-efficient buildings to offer lucrative growth opportunities            143

10.3.6      REST OF EUROPE             144

10.4         ASIA PACIFIC     146

10.4.1      ASIA PACIFIC: MACROECONOMIC OUTLOOK     148

10.4.2      CHINA  150

10.4.2.1  Emphasis on energy conservation and carbon emissions reduction to fuel market growth         150

10.4.3      JAPAN   151

10.4.3.1  Increasing need for advanced cooling solutions in healthcare sector to drive market          151

10.4.4      SOUTH KOREA  153

10.4.4.1  Thriving electronics & semiconductor industries to fuel market growth    153

10.4.5      REST OF ASIA PACIFIC   155

10.5         ROW      157

10.5.1      ROW: MACROECONOMIC OUTLOOK      157

10.5.2      MIDDLE EAST   160

10.5.2.1  Rapid economic development and infrastructure expansion to foster market growth            160

10.5.3      SOUTH AMERICA             162

10.5.3.1  Rising investment in green technologies to drive market                 162

10.5.4      AFRICA 163

10.5.4.1  Increasing awareness of environmental impact of traditional cooling methods to boost demand     163

11            COMPETITIVE LANDSCAPE         166

11.1         INTRODUCTION              166

11.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, JANUARY 2020–APRIL 2025                166

11.3         REVENUE ANALYSIS, 2020–2024  168

11.4         MARKET SHARE ANALYSIS, 2024                 169

11.4.1      KEY PLAYERS IN SOLID STATE COOLING MARKET, 2024                 170

11.5         COMPANY VALUATION AND FINANCIAL METRICS                 172

11.6         BRAND/PRODUCT COMPARISON             173

11.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 174

11.7.1      STARS   174

11.7.2      EMERGING LEADERS     174

11.7.3      PERVASIVE PLAYERS      174

11.7.4      PARTICIPANTS 174

11.7.5      COMPANY FOOTPRINT: KEY PLAYERS   176

11.7.5.1  Company footprint               176

11.7.5.2  Product footprint  176

11.7.5.3  Technology footprint           177

11.7.5.4  Vertical footprint  178

11.7.5.5  Region footprint   179

11.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        179

11.8.1      PROGRESSIVE COMPANIES         179

11.8.2      RESPONSIVE COMPANIES            179

11.8.3      DYNAMIC COMPANIES  180

11.8.4      STARTING BLOCKS         180

11.8.5      COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2024                 181

11.8.5.1  List of startups/SMEs          181

11.8.6      COMPANY FOOTPRINT: STARTUPS/SMES            181

11.8.6.1  Company footprint               181

11.8.6.2  Product footprint  182

11.8.6.3  Technology footprint           182

11.8.6.4  Vertical footprint  183

11.8.6.5  Region footprint   183

11.9         COMPETITIVE SCENARIOS          183

11.9.1      PRODUCT/SERVICE LAUNCHES                 184

11.9.2      DEALS  185

11.9.3      EXPANSIONS     187

12            COMPANY PROFILES      188

12.1         KEY PLAYERS     188

12.1.1      COHERENT CORP.           188

12.1.1.1  Business overview 188

12.1.1.2  Products/Solutions/Services offered 189

12.1.1.3  Recent developments           190

12.1.1.3.1                Product/Service launches   190

12.1.1.3.2                Deals      191

12.1.1.4  MnM view              191

12.1.1.4.1                Key strengths/Right to win 191

12.1.1.4.2                Strategic choices   191

12.1.1.4.3                Weaknesses/Competitive threats       191

12.1.2      DELTA ELECTRONICS, INC.         192

12.1.2.1  Business overview 192

12.1.2.2  Products/Solutions/Services offered 193

12.1.2.3  Recent developments           194

12.1.2.3.1                Product/Service launches   194

12.1.2.4  MnM view              195

12.1.2.4.1                Key strengths/Right to win 195

12.1.2.4.2                Strategic choices   195

12.1.2.4.3                Weaknesses/Competitive threats       195

12.1.3      FERROTEC HOLDINGS CORPORATION 196

12.1.3.1  Business overview 196

12.1.3.2  Products/Solutions/Services offered 197

12.1.3.3  Recent developments           198

12.1.3.3.1                Deals      198

12.1.3.3.2                Expansions             199

12.1.3.4  MnM view              199

12.1.3.4.1                Key strengths/Right to win 199

12.1.3.4.2                Strategic choices   199

12.1.3.4.3                Weaknesses/Competitive threats       200

12.1.4      TARK THERMAL SOLUTIONS     201

12.1.4.1  Business overview 201

12.1.4.2  Products/Solutions/Services offered 201

12.1.4.3  Recent developments           202

12.1.4.3.1                Product/Service launches   202

12.1.4.3.2                Deals      203

12.1.4.4  MnM view              203

12.1.4.4.1                Key strengths/Right to win 203

12.1.4.4.2                Strategic choices   204

12.1.4.4.3                Weaknesses/Competitive threats       204

12.1.5      KOMATSU LTD.                 205

12.1.5.1  Business overview 205

12.1.5.2  Products/Solutions/Services offered 206

12.1.5.3  MnM view              207

12.1.5.3.1                Key strengths/Right to win 207

12.1.5.3.2                Strategic choices   207

12.1.5.3.3                Weaknesses/Competitive threats       207

12.1.6      CRYSTAL LTD.  208

12.1.6.1  Business overview 208

12.1.6.2  Products/Solutions/Services offered 208

12.1.7      SAME SKY            210

12.1.7.1  Business overview 210

12.1.7.2  Products/Solutions/Services offered 210

12.1.7.3  Recent developments           211

12.1.7.3.1                Product/Service launches   211

12.1.7.3.2                Deals      212

12.1.8      SOLID STATE COOLING SYSTEMS, INC. 213

12.1.8.1  Business overview 213

12.1.8.2  Products/Solutions/Services offered 213

12.1.8.3  Recent developments           214

12.1.8.3.1                Product/Service launches   214

12.1.9      TE TECHNOLOGY, INC. 215

12.1.9.1  Business overview 215

12.1.9.2  Products/Solutions/Services offered 215

12.1.10   TEC MICROSYSTEMS GMBH        217

12.1.10.1                 Business overview 217

12.1.10.2                 Products/Solutions/Services offered 217

12.1.10.3                 Recent developments           218

12.1.10.3.1             Product/Service launches   218

12.2         OTHER PLAYERS              219

12.2.1      ALIGN SOURCING LLC. 219

12.2.2      AMS TECHNOLOGIES AG              220

12.2.3      EVERREDTRONICS          220

12.2.4      XIAMEN HICOOL ELECTRONICS CO., LTD.           221

12.2.5      INHECO INDUSTRIAL HEATING & COOLING GMBH                 221

12.2.6      KRYOTHERM     222

12.2.7      MERIT TECHNOLOGY GROUP   222

12.2.8      PHONONIC         223

12.2.9      SHEETAK INC.   223

12.2.10   THERMONAMIC ELECTRONICS (JIANGXI) CORP., LTD.                 224

12.2.11   WELLEN TECHNOLOGY CO., LTD.            224

12.2.12   EUROPEAN THERMODYNAMICS LTD.    225

12.2.13   THERMOELECTRIC COOLING AMERICA CORPORATION                 225

12.2.14   MEERSTETTER ENGINEERING   226

12.2.15   CUSTOM THERMOELECTRIC, LLC            226

13            APPENDIX           227

13.1         DISCUSSION GUIDE        227

13.2         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                229

13.3         CUSTOMIZATION OPTIONS        231

13.4         RELATED REPORTS         231

13.5         AUTHOR DETAILS           232

LIST OF TABLES

TABLE 1                RISK FACTOR ANALYSIS                39

TABLE 2                AVERAGE SELLING PRICE OF CHILLERS, BY KEY PLAYER, 2024 (USD)        57

TABLE 3                AVERAGE SELLING PRICE TREND OF CHILLERS, BY REGION (USD)            58

TABLE 4                ROLE OF PARTICIPANTS IN SOLID STATE COOLING ECOSYSTEM 61

TABLE 5                LIST OF KEY PATENTS IN SOLID STATE COOLING MARKET, 2020–2024    66

TABLE 6                IMPORT DATA FOR HS CODE 8418-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD MILLION)            68

TABLE 7                EXPORT DATA FOR HS CODE 8418-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD MILLION)            69

TABLE 8                LIST OF CONFERENCES AND EVENTS, 2025–2026                 70

TABLE 9                NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             74

TABLE 10              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 75

TABLE 11              ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 76

TABLE 12              ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 77

TABLE 13              IMPACT OF PORTER’S FIVE FORCES ON SOLID STATE COOLING MARKET           78

TABLE 14              INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS (%)         81

TABLE 15              KEY BUYING CRITERIA FOR TOP THREE VERTICALS         82

TABLE 16              US-ADJUSTED RECIPROCAL TARIFF RATES                 83

TABLE 17              SOLID STATE COOLING MARKET, BY PRODUCT, 2021–2024 (USD MILLION)            90

TABLE 18              SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030 (USD MILLION)            90

TABLE 19              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET, BY TYPE,

2021–2024 (USD MILLION)            91

TABLE 20              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET, BY TYPE,

2025–2030 (USD MILLION)            92

TABLE 21              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET, BY REGION,

2021–2024 (USD MILLION)            92

TABLE 22              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET, BY REGION,

2025–2030 (USD MILLION)            92

TABLE 23              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2024 (USD MILLION)       93

TABLE 24              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN NORTH AMERICA, BY COUNTRY, 2025–2030 (USD MILLION)       93

TABLE 25              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN EUROPE,

BY COUNTRY, 2021–2024 (USD MILLION)               93

TABLE 26              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN EUROPE,

BY COUNTRY, 2025–2030 (USD MILLION)               94

TABLE 27              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN ASIA PACIFIC,

BY COUNTRY, 2021–2024 (USD MILLION)               94

TABLE 28              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN ASIA PACIFIC,

BY COUNTRY, 2025–2030 (USD MILLION)               94

TABLE 29              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN ROW, BY REGION, 2021–2024 (USD MILLION)            95

TABLE 30              REFRIGERATION SYSTEMS: SOLID STATE COOLING MARKET IN ROW, BY REGION, 2025–2030 (USD MILLION)            95

TABLE 31              COOLING SYSTEMS: SOLID STATE COOLING MARKET, BY TYPE,

2021–2024 (USD MILLION)            97

TABLE 32              COOLING SYSTEMS: SOLID STATE COOLING MARKET, BY TYPE,

2025–2030 (USD MILLION)            97

TABLE 33              COOLING SYSTEMS: SOLID STATE COOLING MARKET, BY TYPE,

2021–2024 (MILLION UNITS)        97

TABLE 34              COOLING SYSTEMS: SOLID STATE COOLING MARKET, BY TYPE,

2025–2030 (MILLION UNITS)        97

TABLE 35              COOLING SYSTEMS: SOLID STATE COOLING MARKET, BY REGION,

2021–2024 (USD MILLION)            98

TABLE 36              COOLING SYSTEMS: SOLID STATE COOLING MARKET, BY REGION,

2025–2030 (USD MILLION)            98

TABLE 37              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN NORTH AMERICA,

BY COUNTRY, 2021–2024 (USD MILLION)               98

TABLE 38              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN NORTH AMERICA,

BY COUNTRY, 2025–2030 (USD MILLION)               99

TABLE 39              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN EUROPE, BY COUNTRY, 2021–2024 (USD MILLION)                 99

TABLE 40              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN EUROPE, BY COUNTRY, 2025–2030 (USD MILLION)                 99

TABLE 41              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN ASIA PACIFIC,

BY COUNTRY, 2021–2024 (USD MILLION)               100

TABLE 42              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN ASIA PACIFIC,

BY COUNTRY, 2025–2030 (USD MILLION)               100

TABLE 43              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN ROW, BY REGION,

2021–2024 (USD MILLION)            100

TABLE 44              COOLING SYSTEMS: SOLID STATE COOLING MARKET IN ROW, BY REGION,

2025–2030 (USD MILLION)            101

TABLE 45              SOLID STATE COOLING MARKET, BY TECHNOLOGY, 2021–2024 (USD MILLION)            105

TABLE 46              SOLID STATE COOLING MARKET, BY TECHNOLOGY, 2025–2030 (USD MILLION)            105

TABLE 47              COMPARATIVE STUDY OF DIFFERENT SOLID STATE COOLING TECHNOLOGIES

AND THEIR POTENTIAL                105

TABLE 48              SOLID STATE COOLING MARKET, BY VERTICAL, 2021–2024 (USD MILLION)            113

TABLE 49              SOLID STATE COOLING MARKET, BY VERTICAL, 2025–2030 (USD MILLION)            113

TABLE 50              AUTOMOTIVE: SOLID STATE COOLING MARKET, BY REGION,

2021–2024 (USD MILLION)            115

TABLE 51              AUTOMOTIVE: SOLID STATE COOLING MARKET, BY REGION,

2025–2030 (USD MILLION)            115

TABLE 52              CONSUMER ELECTRONICS & SEMICONDUCTOR: SOLID STATE COOLING MARKET, BY REGION, 2021–2024 (USD MILLION)          117

TABLE 53              CONSUMER ELECTRONICS & SEMICONDUCTOR: SOLID STATE COOLING MARKET, BY REGION, 2025–2030 (USD MILLION)          118

TABLE 54             HEALTHCARE: SOLID STATE COOLING MARKET, BY REGION,

2021–2024 (USD MILLION)            120

TABLE 55             HEALTHCARE: SOLID STATE COOLING MARKET, BY REGION,

2025–2030 (USD MILLION)            120

TABLE 56              OTHER VERTICALS: SOLID STATE COOLING MARKET, BY REGION,

2021–2024 (USD MILLION)            122

TABLE 57              OTHER VERTICALS: SOLID STATE COOLING MARKET, BY REGION,

2025–2030 (USD MILLION)            122

TABLE 58              SOLID STATE COOLING MARKET, BY REGION, 2021–2024 (USD MILLION)            125

TABLE 59              SOLID STATE COOLING MARKET, BY REGION, 2025–2030 (USD MILLION)            125

TABLE 60              NORTH AMERICA: SOLID STATE COOLING MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            127

TABLE 61              NORTH AMERICA: SOLID STATE COOLING MARKET, BY COUNTRY,

2025–2030(USD MILLION)              127

TABLE 62              NORTH AMERICA: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            127

TABLE 63              NORTH AMERICA: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            128

TABLE 64              NORTH AMERICA: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            128

TABLE 65              NORTH AMERICA: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              128

TABLE 66              US: SOLID STATE COOLING MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     129

TABLE 67              US: SOLID STATE COOLING MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     130

TABLE 68              US: SOLID STATE COOLING MARKET, BY PRODUCT, 2021–2024 (USD MILLION)     130

TABLE 69              US: SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030 (USD MILLION)     130

TABLE 70              CANADA: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            131

TABLE 71              CANADA: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            131

TABLE 72              CANADA: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            132

TABLE 73              CANADA: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              132

TABLE 74              MEXICO: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            133

TABLE 75              MEXICO: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            133

TABLE 76              MEXICO: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            133

TABLE 77              MEXICO: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              133

TABLE 78              EUROPE: SOLID STATE COOLING MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            136

TABLE 79              EUROPE: SOLID STATE COOLING MARKET, BY COUNTRY,

2025–2030 (USD MILLION)          136

TABLE 80              EUROPE: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            136

TABLE 81              EUROPE: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            137

TABLE 82              EUROPE: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            137

TABLE 83              EUROPE: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              137

TABLE 84              UK: SOLID STATE COOLING MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     138

TABLE 85              UK: SOLID STATE COOLING MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     139

TABLE 86              UK: SOLID STATE COOLING MARKET, BY PRODUCT, 2021–2024 (USD MILLION)     139

TABLE 87              UK: SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030(USD MILLION)      139

TABLE 88              GERMANY: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            140

TABLE 89              GERMANY: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            140

TABLE 90              GERMANY: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            141

TABLE 91              GERMANY: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              141

TABLE 92              FRANCE: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            142

TABLE 93              FRANCE: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            142

TABLE 94              FRANCE: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            142

TABLE 95              FRANCE: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              142

TABLE 96              ITALY: SOLID STATE COOLING MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     143

TABLE 97              ITALY: SOLID STATE COOLING MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     143

TABLE 98              ITALY: SOLID STATE COOLING MARKET, BY PRODUCT, 2021–2024 (USD MILLION)     144

TABLE 99              ITALY: SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030(USD MILLION)      144

TABLE 100            REST OF EUROPE: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            145

TABLE 101            REST OF EUROPE: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            145

TABLE 102            REST OF EUROPE: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            145

TABLE 103            REST OF EUROPE: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              146

TABLE 104            ASIA PACIFIC: SOLID STATE COOLING MARKET, BY COUNTRY,

2021–2024 (USD MILLION)            148

TABLE 105            ASIA PACIFIC: SOLID STATE COOLING MARKET, BY COUNTRY,

2025–2030(USD MILLION)              148

TABLE 106            ASIA PACIFIC: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            149

TABLE 107            ASIA PACIFIC: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            149

TABLE 108            ASIA PACIFIC: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            149

TABLE 109            ASIA PACIFIC: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              149

TABLE 110            CHINA: SOLID STATE COOLING MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     150

TABLE 111            CHINA: SOLID STATE COOLING MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     151

TABLE 112            CHINA: SOLID STATE COOLING MARKET, BY PRODUCT, 2021–2024 (USD MILLION)     151

TABLE 113            CHINA: SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030(USD MILLION)      151

TABLE 114            JAPAN: SOLID STATE COOLING MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     152

TABLE 115            JAPAN: SOLID STATE COOLING MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     152

TABLE 116            JAPAN: SOLID STATE COOLING MARKET, BY PRODUCT, 2021–2024 (USD MILLION)     152

TABLE 117            JAPAN: SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030(USD MILLION)      153

TABLE 118            SOUTH KOREA: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            154

TABLE 119            SOUTH KOREA: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            154

TABLE 120            SOUTH KOREA: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            154

TABLE 121            SOUTH KOREA: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)           154

TABLE 122            REST OF ASIA PACIFIC: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            156

TABLE 123            REST OF ASIA PACIFIC: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            156

TABLE 124            REST OF ASIA PACIFIC: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            156

TABLE 125            REST OF ASIA PACIFIC: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030 (USD MILLION)            157

TABLE 126            ROW: SOLID STATE COOLING MARKET, BY REGION, 2021–2024 (USD MILLION)          158

TABLE 127            ROW: SOLID STATE COOLING MARKET, BY REGION, 2025–2030(USD MILLION)           159

TABLE 128            ROW: SOLID STATE COOLING MARKET, BY VERTICAL, 2021–2024 (USD MILLION)     159

TABLE 129            ROW: SOLID STATE COOLING MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     159

TABLE 130            ROW: SOLID STATE COOLING MARKET, BY PRODUCT, 2021–2024 (USD MILLION)     159

TABLE 131            ROW: SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030(USD MILLION)      160

TABLE 132          MIDDLE EAST: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            161

TABLE 133          MIDDLE EAST: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            161

TABLE 134          MIDDLE EAST: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            161

TABLE 135          MIDDLE EAST: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              161

TABLE 136            SOUTH AMERICA: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            162

TABLE 137            SOUTH AMERICA: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            163

TABLE 138            SOUTH AMERICA: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)            163

TABLE 139            SOUTH AMERICA: SOLID STATE COOLING MARKET, BY PRODUCT,

2025–2030(USD MILLION)              163

TABLE 140            AFRICA: SOLID STATE COOLING MARKET, BY VERTICAL,

2021–2024 (USD MILLION)            164

TABLE 141            AFRICA: SOLID STATE COOLING MARKET, BY VERTICAL,

2025–2030 (USD MILLION)            164

TABLE 142            AFRICA: SOLID STATE COOLING MARKET, BY PRODUCT,

2021–2024 (USD MILLION)          164

TABLE 143            AFRICA: SOLID STATE COOLING MARKET, BY PRODUCT, 2025–2030(USD MILLION)      165

TABLE 144            OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN

SOLID STATE COOLING MARKET             166

TABLE 145            DEGREE OF COMPETITION         170

TABLE 146            SOLID STATE COOLING MARKET: PRODUCT FOOTPRINT       176

TABLE 147            SOLID STATE COOLING MARKET: TECHNOLOGY FOOTPRINT        177

TABLE 148            SOLID STATE COOLING MARKET: VERTICAL FOOTPRINT       178

TABLE 149            SOLID STATE COOLING MARKET: REGION FOOTPRINT       179

TABLE 150            SOLID STATE COOLING MARKET: LIST OF STARTUPS/SMES              181

TABLE 151            SOLID STATE COOLING MARKET: PRODUCT FOOTPRINT       182

TABLE 152            SOLID STATE COOLING MARKET: TECHNOLOGY FOOTPRINT        182

TABLE 153            SOLID STATE COOLING MARKET: VERTICAL FOOTPRINT       183

TABLE 154            SOLID STATE COOLING MARKET: REGION FOOTPRINT       183

TABLE 155            SOLID STATE COOLING MARKET: PRODUCT/SERVICE LAUNCHES,

JANUARY 2020–APRIL 2025            184

TABLE 156            SOLID STATE COOLING MARKET: DEALS, JANUARY 2020–APRIL 2025            185

TABLE 157            SOLID STATE COOLING: EXPANSIONS, JANUARY 2020–APRIL 2025            187

TABLE 158            COHERENT CORP.: COMPANY OVERVIEW                 188

TABLE 159            COHERENT CORP.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    189

TABLE 160            COHERENT CORP.: PRODUCT/SERVICE LAUNCHES          190

TABLE 161            COHERENT CORP.: DEALS           191

TABLE 162            DELTA ELECTRONICS, INC.: COMPANY OVERVIEW          192

TABLE 163            DELTA ELECTRONICS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    193

TABLE 164            DELTA ELECTRONICS, INC.: PRODUCT/SERVICE LAUNCHES                 194

TABLE 165            FERROTEC HOLDINGS CORPORATION: COMPANY OVERVIEW   196

TABLE 166            FERROTEC HOLDINGS CORPORATION:

PRODUCTS/SOLUTIONS/SERVICES OFFERED    197

TABLE 167            FERROTEC HOLDINGS CORPORATION: DEALS                 198

TABLE 168            FERROTEC HOLDINGS CORPORATION: EXPANSIONS     199

TABLE 169            TARK THERMAL SOLUTIONS: COMPANY OVERVIEW          201

TABLE 170            TARK THERMAL SOLUTIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    201

TABLE 171            TARK THERMAL SOLUTIONS: PRODUCT/SERVICE LAUNCHES                 202

TABLE 172            TARK THERMAL SOLUTIONS: DEALS      203

TABLE 173            KOMATSU: COMPANY OVERVIEW            205

TABLE 174            KOMATSU: PRODUCTS/SOLUTIONS/SERVICES OFFERED             206

TABLE 175            CRYSTAL LTD.: COMPANY OVERVIEW   208

TABLE 176            CRYSTAL LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    208

TABLE 177            SAME SKY: COMPANY OVERVIEW             210

TABLE 178            SAME SKY: PRODUCTS/SOLUTIONS/SERVICES OFFERED             210

TABLE 179            SAME SKY: PRODUCT/SERVICE LAUNCHES                 211

TABLE 180            SAME SKY: DEALS            212

TABLE 181            SOLID STATE COOLING SYSTEMS: COMPANY OVERVIEW          213

TABLE 182            SOLID STATE COOLING SYSTEMS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    213

TABLE 183            SOLID STATE COOLING SYSTEMS: PRODUCT/SERVICE LAUNCHES                 214

TABLE 184            TE TECHNOLOGY, INC.: COMPANY OVERVIEW                 215

TABLE 185            TE TECHNOLOGY, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    215

TABLE 186            TEC MICROSYSTEMS GMBH: COMPANY OVERVIEW          217

TABLE 187            TEC MICROSYSTEMS GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED    217

TABLE 188            TEC MICROSYSTEMS GMBH: PRODUCT/SERVICE LAUNCHES                 218

LIST OF FIGURES

FIGURE 1              SOLID STATE COOLING MARKET AND REGIONAL SCOPE            25

FIGURE 2              SOLID STATE COOLING MARKET: RESEARCH DESIGN                29

FIGURE 3              RESEARCH FLOW OF MARKET SIZE ESTIMATION     34

FIGURE 4              MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF SOLID STATE COOLING PRODUCTS AND SOLUTIONS 34

FIGURE 5              MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH              35

FIGURE 6              MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH                36

FIGURE 7              DATA TRIANGULATION                37

FIGURE 8              SOLID STATE COOLING MARKET, 2021–2030                 41

FIGURE 9              COOLING SYSTEMS SEGMENT TO CAPTURE LARGER MARKET SHARE IN 2030               41

FIGURE 10            THERMOELECTRIC COOLING TECHNOLOGY TO CAPTURE LARGEST

MARKET SHARE IN 2030 42

FIGURE 11            CONSUMER ELECTRONICS & SEMICONDUCTOR VERTICAL TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030                 42

FIGURE 12            ASIA PACIFIC DOMINATED SOLID STATE COOLING MARKET IN 2024          43

FIGURE 13            SURGING DEMAND FOR RELIABLE AND ENERGY-EFFICIENT SOLUTIONS

TO DRIVE MARKET         44

FIGURE 14            COOLING SYSTEMS TO DOMINATE MARKET IN 2030        45

FIGURE 15            CONSUMER ELECTRONICS & SEMICONDUCTOR SEGMENT

TO LEAD MARKET IN 2030            45

FIGURE 16            ASIA PACIFIC TO DOMINATE MARKET IN 2030                 46

FIGURE 17            SOLID STATE COOLING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES         47

FIGURE 18            SOLID STATE COOLING MARKET: IMPACT ANALYSIS OF DRIVERS  48

FIGURE 19            GLOBAL EV CAR SALES, 2024       50

FIGURE 20            SOLID STATE COOLING MARKET: IMPACT ANALYSIS OF RESTRAINTS           51

FIGURE 21            SOLID STATE COOLING MARKET: IMPACT ANALYSIS OF OPPORTUNITIES 53

FIGURE 22            SOLID STATE COOLING MARKET: IMPACT ANALYSIS OF CHALLENGES         54

FIGURE 23            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS   56

FIGURE 24            AVERAGE SELLING PRICE OF CHILLERS, BY KEY PLAYER, 2024      57

FIGURE 25            AVERAGE SELLING PRICE TREND OF CHILLERS, BY REGION, 2020–2024    58

FIGURE 26            SOLID STATE COOLING MARKET: VALUE CHAIN ANALYSIS            59

FIGURE 27            KEY PLAYERS IN SOLID STATE COOLING ECOSYSTEM       60

FIGURE 28            FUNDING AND RELATED DEALS IN SOLID STATE TECHNOLOGY, 2021–2024               62

FIGURE 29            NUMBER OF PATENTS GRANTED IN SOLID STATE COOLING MARKET, 2015–2024      65

FIGURE 30            IMPORT DATA FOR HS CODE 8418-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD MILLION)            69

FIGURE 31            EXPORT DATA FOR HS CODE 8418-COMPLIANT PRODUCTS, BY COUNTRY,

2020–2024 (USD MILLION)            70

FIGURE 32            PORTER’S FIVE FORCES: SOLID STATE COOLING MARKET          79

FIGURE 33            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS   81

FIGURE 34            KEY BUYING CRITERIA FOR TOP THREE VERTICALS         82

FIGURE 35            COOLING SYSTEMS TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD        90

FIGURE 36            THERMOELECTRIC TECHNOLOGY TO HOLD LARGEST MARKET SHARE IN 2025             104

FIGURE 37            AUTOMOTIVE SEGMENT TO BE FASTEST-GROWING VERTICAL

DURING FORECAST PERIOD       112

FIGURE 38            SOLID STATE COOLING MARKET FOR ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD                124

FIGURE 39            NORTH AMERICA: SOLID STATE COOLING MARKET SNAPSHOT       126

FIGURE 40            EUROPE: SOLID STATE COOLING MARKET SNAPSHOT          135

FIGURE 41            ASIA PACIFIC: SOLID STATE COOLING MARKET                 147

FIGURE 42            ROW: SOLID STATE COOLING MARKET SNAPSHOT          158

FIGURE 43            REVENUE ANALYSIS OF KEY PLAYERS, 2020–2024                 168

FIGURE 44            MARKET SHARE ANALYSIS OF KEY PLAYERS, 2024        169

FIGURE 45            COMPANY VALUATION, 2024      172

FIGURE 46            FINANCIAL METRICS (EV/EBITDA), 2024                 172

FIGURE 47            BRAND/PRODUCT COMPARISON             173

FIGURE 48            SOLID STATE COOLING MARKET:

COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024  175

FIGURE 49            SOLID STATE COOLING MARKET: COMPANY FOOTPRINT       176

FIGURE 50            SOLID STATE COOLING MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 180

FIGURE 51            SOLID STATE COOLING MARKET: COMPANY OVERALL FOOTPRINT  181

FIGURE 52            COHERENT CORP.: COMPANY SNAPSHOT                 189

FIGURE 53            DELTA ELECTRONICS, INC.: COMPANY SNAPSHOT          193

FIGURE 54            FERROTEC HOLDINGS CORPORATION: COMPANY SNAPSHOT   197

FIGURE 55            KOMATSU: COMPANY SNAPSHOT            206