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.
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.
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:
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%
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
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Components of Solid State Cooling Systems
7 Solid State Cooling Market, by Product
8 Solid State Cooling Market, by Technology
9 Solid State Cooling Market, by Vertical
10 Solid State Cooling Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
List of Tables
List of Figures
Companies Mentioned
- Coherent Corp.
- Delta Electronics, Inc.
- Ferrotec Holdings Corporation
- Tark Thermal Solutions
- Komatsu Ltd.
- Crystal Ltd.
- Same Sky
- Solid State Cooling Systems, Inc.
- Te Technology, Inc.
- Tec Microsystems GmbH
- Align Sourcing LLC.
- Ams Technologies AG
- Everredtronics
- Xiamen Hicool Electronics Co. Ltd.
- Inheco Industrial Heating & Cooling GmbH
- Kryotherm
- Merit Technology Group
- Phononic
- Sheetak Inc.
- Thermonamic Electronics (Jiangxi) Corp. Ltd.
- Wellen Technology Co. Ltd.
- European Thermodynamics Ltd.
- Thermoelectric Cooling America Corporation
- Meerstetter Engineering
- Custom Thermoelectric, LLC
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 233 |
| Published | July 2025 |
| Forecast Period | 2025 - 2030 |
| Estimated Market Value in 2025 | 0.97 Billion |
| Forecasted Market Value by 2030 | 1.93 Billion |
| Compound Annual Growth Rate | 14.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
