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The Global Advanced Solid-State Cooling Market 2027-2037

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    Report

  • 389 Pages
  • October 2026
  • Region: Global
  • Future Markets, Inc
  • ID: 5894366
Solid-state cooling is moving from a niche technology to a strategic necessity, pushed by soaring AI data-centre heat loads, tightening refrigerant regulation, and a wave of new caloric, photonic and airflow technologies. This report provides a comprehensive analysis of the market, assessing nine technology segments and profiling the companies commercialising them.

It forecasts the market from 2027 to 2037 across eleven end-use markets, with technology readiness levels and commercialisation timelines, temperature-range segmentation, competitive and value-chain analysis, and the funding and investment landscape. It is designed as a guide for strategy, R&D, business-development and investment teams on where, when and how solid-state cooling will win, and profiles 67 companies.

Report contents include:

  • Executive summary: the market opportunity and strategic overview, why solid-state cooling is now a priority, its advantages, the technology landscape, technology readiness and commercialisation timelines, the cooling toolkit and likely winners, segmentation and application analysis, customer needs and adoption barriers, temperature-range segmentation, the competitive landscape, LED-based cooling, and funding and investment.
  • Introduction: the need for cooling, regulatory and policy drivers (Kigali Amendment, EU F-gas Regulation), solid-state cooling fundamentals and classification, caloric cooling effects, the technology timeline, established vs emerging technologies, value-chain analysis and competing cooling technologies.
  • Solid-state cooling technologies: thermoelectric (Peltier), magnetocaloric, electrocaloric, barocaloric, elastocaloric, twistocaloric, solid-state phase change (caloric and OCPCM), multicaloric, and solid-state heat pumps and engines.
  • LED-based and optical cooling: LED/thermophotonic cooling, optical refrigeration (anti-Stokes fluorescence), phononic cooling, quantum-dot cooling, photonic-crystal and metamaterial cooling, advanced thermionic cooling, passive daytime radiative cooling (PDRC), solid-state airflow (MEMS, ionic wind, plasma actuators) and quantum cryogenic cooling (ADR/cADR, dilution refrigeration).
  • Comparative technology analysis: performance benchmarking, cost competitiveness, application suitability by temperature range, technology readiness and quantum-integration capabilities.
  • Global solid-state cooling market analysis: definition, methodology and assumptions, overall segmentation and sizing, application-based segmentation, customer needs assessment and the funding and investment landscape.
  • Market forecasts 2023-2037 by technology, region, operating-temperature segment and end-use market (semiconductors/sensors, consumer electronics, data centres, automotive and more), with market scenarios, drivers and restraints.
  • 67 company profiles across the technology categories, plus methodology appendix and references.

Table of Contents

1 EXECUTIVE SUMMARY
1.1 Market opportunity and strategic overview
1.2 The nature of solid-state cooling and why it is now a priority
1.3 Advantages of solid-state cooling
1.4 Technology landscape
1.5 Technology readiness levels and commercialisation timelines across all segments
1.6 Cooling toolkit and potential winners on current evidence
1.7 Market segmentation and application analysis
1.8 Customer needs assessment and adoption barriers analysis
1.9 Temperature range segmentation (sub-100 K to 150 K+) and application mapping
1.10 Competitive landscape and industry structure
1.11 LED-based cooling
1.12 Funding and investment landscape
1.13 Key conclusions
2 INTRODUCTION
2.1 The need for cooling
2.2 Regulatory and policy drivers
2.3 Primary answers to emerging cooling challenges
2.4 Solid-state cooling technology fundamentals and classification
2.5 Caloric cooling effects
2.6 Market evolution and technology timeline
2.7 Scope of analysis: established vs emerging technologies
2.8 Value chain analysis across technologies
2.9 Competing cooling technologies
3 SOLID-STATE COOLING TECHNOLOGIES
3.1 Thermoelectric (Peltier) cooling systems
3.2 Magnetocaloric cooling
3.3 Electrocaloric cooling
3.4 Barocaloric cooling systems
3.5 Elastocaloric cooling systems
3.6 Twistocaloric (torsocaloric) cooling systems
3.7 Solid-state phase change cooling: caloric and oriented composite phase change materials (OCPCM)
3.8 Multicaloric cooling
3.9 Solid-state heat pumps and engines
3.10 Caloric cooling: comparative summary and market outlook
3.11 LED-based solid-state cooling technologies
3.12 Optical refrigeration: laser cooling of solids and anti-Stokes fluorescence
3.13 Phononic cooling systems
3.14 Quantum dot cooling technologies
3.15 Photonic crystal and metamaterial cooling
3.16 Advanced thermionic cooling
3.17 Passive daytime radiative cooling (PDRC)
3.18 Solid-state airflow: MEMS, ionic wind and plasma actuators
3.19 Quantum cryogenic cooling technologies
3.20 Comparative technology analysis
4 GLOBAL SOLID-STATE COOLING MARKET ANALYSIS
4.1 Market definition, methodology and assumptions
4.2 Overall market segmentation and sizing
4.3 Application-based market segmentation
4.4 Customer needs assessment across market segments
4.5 Funding and investment landscape
5 COMPANY PROFILES (67 company profiles)
6 APPENDIX
6.1 Report methodology
7 REFERENCES
LIST OF TABLES
Solid-state cooling in the context of the wider cooling market
Global advanced solid-state cooling market size, 2023-2037 (US$ millions)
Emerging solid-state cooling technologies: opportunity assessment
Why solid-state cooling is now a priority: drivers and evidence
Established vs emerging solid-state cooling technologies
LED-based thermophotonic cooling: performance benchmarks against incumbents
Quantum cryogenic cooling requirements and market applications
Solid-state cooling technology readiness levels and commercialisation milestones
The cooling toolkit by mode, with leading solid-state tools in bold
Best passive solid-state cooling technologies for reducing temperature by 5-40 C, 2027-2047 (Future Markets assessment)
Best active solid-state cooling technologies for reducing temperature by 5-50 C, 2027-2047 (Future Markets assessment)
Approximate number of companies commercialising solid-state cooling, by technology (2026)
Application-specific market sizing, 2027, 2032 and 2037 (US$ millions)
Customer needs and adoption barriers by segment
Temperature range segmentation and application mapping
Market share by technology, 2027, 2032 and 2037
Key player positioning: established manufacturers vs innovation-driven start-ups
Technology differentiation strategies and competitive advantages
LED cooling: technology performance advantages over conventional Peltier and cryogenic systems
Selected funding rounds in solid-state and novel cooling, 2022-2026
Public funding pathways relevant to LED and other emerging solid-state cooling technologies
Key indicators of global cooling demand
Principal problems with vapour-compression cooling and the solid-state response
AI accelerator and rack power trajectory
Emerging cooling problems in electronics and ICT and solid-state responses
Kigali Amendment HFC phase-down schedule (reduction versus baseline)
Selected EU F-gas Regulation 2024/573 product restrictions
Selected public funding programmes for solid-state cooling
Solid-state cooling operating principles compared (part 1: performance)
Solid-state cooling operating principles compared (part 2: practicality)
Undesirable materials widely used in cooling and possible substitutes
Caloric effects compared by type
Attention versus maturity by technology, 2027, 2037 and 2047
Scope of analysis: inclusions and exclusions
Representative value chain participants by stage
Competing cooling technologies compared with solid-state cooling
Technologies covered in Section 3: maturity and Future Markets forecast
Thermoelectric cooling: market penetration indicators, 2026
Thermoelectric metrics: what they tell, and where they mislead
Thermoelectric materials for near-room-temperature cooling: comparison
Lower-cost and lower-toxicity thermoelectric material routes
Spin-driven and quasiparticle thermoelectric effects: comparison
Theoretical maximum COP of single-stage thermoelectric coolers vs temperature lift (hot side 300 K)
Thermoelectric cooler performance characteristics and limitations
Thermoelectric cooling applications and their requirements
Approaches to wide-area and flexible thermoelectric cooling
Flexible and wide-area thermoelectric cooling: state of the art, 2026
Flexible, wide-area, wearable, printed and fibre thermoelectric research: 33 examples, 2019-2026
Hot-side heat-removal solutions for thermoelectric coolers and generators
Selected advances in thermoelectric cooling, 2024-2026
Thermoelectric (Peltier) module, assembly and product manufacturers: 71 companies
Thermoelectric (Peltier) modules and assemblies: market forecast, 2026-2037 (US$ millions)
Magnetocaloric materials for near-room-temperature cooling
Magnetocaloric cooling performance vs conventional systems
Magnetocaloric cooling: commercial and pre-commercial activity
Magnetocaloric cooling: advantages and challenges
Magnetocaloric system supply chain: materials and risk
Magnetocaloric systems: market forecast, 2026-2037 (US$ millions)
Electrocaloric materials and performance characteristics
Electrocaloric effect temperature changes by material type
Comparison of ceramic and polymer electrocaloric routes
Approximate share of electrocaloric research focus by material family, 2023-2026
Milestones in giant electrocaloric materials and devices, 2006-2025
Key electrocaloric technical issues and mitigation routes
Electrocaloric research and development activity, 2025-2026
Electrocaloric commercialisation stages and expected timing
Electrocaloric application areas, fit and expected timing
Barocaloric material families and characteristics
Barocaloric developers and funded projects
Comparison of caloric cooling technologies
Elastocaloric material families and properties
Tension versus compression loading in elastocaloric devices
Elastocaloric performance characteristics and target applications
Twistocaloric fibre materials
Phase-change based cooling technologies compared
Oriented composite PCM approaches for electronics and battery thermal management
Multicaloric materials and coupled-field approaches
Hybrid and convergent solid-state cooling architectures
Caloric cooling market by technology, 2027-2037 (US$ millions)
Companies commercialising caloric cooling
LED cooling performance parameters and specifications
GaAs LED performance characteristics for cooling applications
LED cooling vs thermoelectric cooling performance comparison
LED and thermophotonic cooling: technology readiness and key research groups
Indicative cost per watt of cooling by technology at cryogenic and deep-cooling temperatures
Cooling technologies by operating temperature range and fit with LED cooling targets
Beachhead applications for LED-based cooling
LED / optical / thermionic cooling segment: 2037 penetration scenarios
Competitive positioning of LED cooling within solid-state and adjacent cooling technologies
Unique value propositions of LED cooling by application domain
Cost competitiveness of LED cooling vs magnetocaloric and Stirling coolers for small cryogenic loads
Funding instruments and partnering routes for LED / thermophotonic cooling
Optical refrigeration of solids: materials and milestones
Phonon engineering approaches relevant to solid-state cooling
Quantum dot cooling approaches and research status
Photonic and metamaterial approaches to cooling and thermal management
Electron emission cooling mechanisms
Thermionic cooling commercialisation timeline (Future Markets assessment)
PDRC material families: performance, cost and commercial popularity
PDRC applications, benefits and adoption status
Solid-state airflow products: key specifications (company data)
Solid-state airflow vs conventional thermal solutions in compact electronics
Solid-state airflow applications and adoption timing
Solid-state airflow market build: indicative units and ASP logic
Quantum cooling requirements by application
Comparison of ADR system configurations
Paramagnetic cooling media for ADR stages
ADR applications and use cases in quantum technologies
Helium-3 supply, demand and pricing indicators
Magnetic and electronic refrigeration methods below 1 K
Quantum device operating temperature requirements
Josephson junction cooling applications
Indicative dilution refrigerator stage temperatures and cooling budgets
Cryogenic wiring, signal-chain and cryo-CMOS suppliers reducing qubit heat load
Dilution refrigerator and millikelvin platform suppliers
Quantum sensor cooling and thermal management requirements
Optical quantum device cooling challenges
Future Markets forecast: quantum-relevant solid-state cooling segments (US$ millions)
Cryogenic platform suppliers relevant to quantum technologies
Performance benchmarking matrix across all technologies
Cost competitiveness analysis by application segment
Application suitability mapping by temperature range
Technology readiness levels and commercialisation status by technology
Quantum technology integration capabilities by solid-state cooling segment
Winning materials and principles for solid-state cooling
Key modelling assumptions by technology
Global advanced solid-state cooling market size, 2023-2037 (US$ millions)
Global advanced solid-state cooling market by technology, 2023-2026 (US$ millions)
Global advanced solid-state cooling market by technology, 2027-2037 (US$ millions)
Market share by technology, 2027, 2032 and 2037
Price-performance evolution by technology type
Global advanced solid-state cooling market by region, 2027-2037 (US$ millions)
Regional growth drivers and leading activity
Market drivers and growth catalysts
Market restraints and risks
Global advanced solid-state cooling market by operating temperature segment, 2027-2037 (US$ millions)
Cryogenic applications (sub-100 K) and solid-state cooling options
Ultra-low temperature applications (100-150 K)
Moderate cooling applications (>150 K) by technology fit
Global advanced solid-state cooling market by end-use market, 2023-2026 (US$ millions)
Global advanced solid-state cooling market by end-use market, 2027-2037 (US$ millions)
Market share by end-use market, 2027, 2032 and 2037
Semiconductor sensor solid-state cooling
Consumer electronics solid-state thermal management
Solid-state cooling roles in data centres
Automotive solid-state cooling applications
Market scenarios, 2032 and 2037 (US$ millions, constant 2026 US$)
Performance requirements by application
Cost sensitivity and value drivers by end-use market
Technology adoption criteria and decision factors
Selected private funding rounds in solid-state and advanced cooling, 2021-2026
Selected corporate investments and M&A in cooling technology
Selected government and EU funding for solid-state cooling
Companies profiled by technology category
Forecasting approach by technology segment
LIST OF FIGURES
Global advanced solid-state cooling market size, 2023-2037 (US$ millions)
Solid-state cooling commercialisation timelines by technology, 2024-2040
Solid-state cooling overall: SWOT analysis
Solid-state cooling value chain
Principal drivers of new cooling demand: AI chip power, air-conditioner growth, 6G, batteries and solar heat
Solid-state cooling technology milestones, 1834-2032
Global advanced solid-state cooling market, 2023-2037 (US$ millions)
Technology share of the advanced solid-state cooling market, 2027-2037
Advanced solid-state cooling value chain
Operation of a thermoelectric (Peltier) module: n- and p-type legs between ceramic plates pump heat from the cold side to the hot side when current flows
Thermoelectric energy harvesting (TEG) as a power source for solid-state cooling: SWOT analysis
Thermoelectric (Peltier) cooling: SWOT analysis
Magnetocaloric refrigeration cycle: adiabatic magnetisation, heat rejection, adiabatic demagnetisation and heat absorption in an active magnetic regenerator
Magnetocaloric cooling: SWOT analysis
Electrocaloric cooling: SWOT analysis
Electrocaloric cooling cycle: polarisation, heat rejection, depolarisation and heat absorption
Electrocaloric cooling commercialisation timeline
Low-pressure barocaloric system: solid refrigerant beds cycled by a gas compressor with secondary-fluid heat transfer
Barocaloric cooling: SWOT analysis
Elastocaloric cooling cycle: loading, heat rejection, unloading and heat absorption
Elastocaloric cooling: SWOT analysis
Twistocaloric cooling: SWOT analysis
Multicaloric and solid-state heat pumps: SWOT analysis
Caloric cooling market by technology, 2026-2037 (US$ millions)
Principle of electroluminescent (LED) and thermophotonic cooling: photons emitted with energy above qV carry heat from the cold LED to a remote absorber or photovoltaic cell
LED thermophotonic cooling: SWOT analysis
Anti-Stokes fluorescence cooling: SWOT analysis
Phononic cooling: SWOT analysis
Quantum dot cooling: SWOT analysis
Thermal metamaterials: SWOT analysis
Advanced thermionic cooling: research milestones and commercialisation timeline
Advanced thermionic cooling: SWOT analysis
Passive daytime radiative cooling: high solar reflectance combined with thermal emission through the 8-13 um atmospheric window
Janus thermal management: SWOT analysis
Passive radiative cooling: SWOT analysis
Solid-state airflow principles: piezoelectric MEMS jets, ionic wind (EHD) and dielectric barrier discharge plasma actuators
Solid-state airflow: SWOT analysis
Adiabatic demagnetisation refrigeration: magnetisation, isolation, demagnetisation and hold steps
Continuous ADR (cADR) architecture: staggered stages with heat switches provide uninterrupted cooling at the cold stage
Solid-state cryogenic cooling (ADR / cADR): SWOT analysis
Application suitability of cooling technologies by operating temperature range
Commercialisation timelines by solid-state cooling technology, 2024-2040
Solid-state cooling technology roadmap 2027-2037 by end market
Global advanced solid-state cooling market, 2023-2037 (US$ millions, constant 2026 US$)
Global advanced solid-state cooling market by technology, 2027-2037 (US$ millions)
Market share by technology, 2027, 2032 and 2037
Solid-state cooling revenues by technology on a logarithmic scale, 2023-2037 (US$ millions)
Global advanced solid-state cooling market by region, 2027-2037 (US$ millions)
Cooling demand drivers: AI chip power, air-conditioning growth, 6G and climate
Global advanced solid-state cooling market by end-use market, 2027-2037 (US$ millions)
Solid-state cooling application sizing, 2027 versus 2037 (US$ millions)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 3M
  • Aegiq
  • Anyon Systems
  • Anzen Climate Wall
  • Barocal
  • Bluefors
  • Camfridge
  • Coherent
  • CoolIT Systems
  • Crystal Ltd
  • CryoCoax
  • Custom Thermoelectric
  • CustomChill
  • DBK Industrial
  • Delft Circuits
  • EIC Solutions
  • Exergyn
  • Ferrotec
  • Frore Systems
  • GE Appliances
  • Hamamatsu Photonics
  • i2Cool
  • Iceotope
  • Infleqtion
  • Intel
  • Ionic Wind Technologies
  • JetCool
  • KELK
  • kiutra
  • Magnoric
  • Magnotherm
  • Maybell Quantum
  • MIMiC Systems
  • Mingfa Tech
  • Montana Instruments
  • Octolife
  • Origin Quantum
  • Pascal
  • Phononic
  • and more...