Solid State Cooling Market
Report ID: SQMIG45D2191
Report ID: SQMIG45D2191
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Report ID:
SQMIG45D2191 |
Region:
Global |
Published Date: February, 2026
Pages:
172
|Tables:
117
|Figures:
70
Global Solid State Cooling Market size was valued at USD 550.2 Million in 2024 and is poised to grow from USD 584.86 Million in 2025 to USD 953.5 Million by 2033, growing at a CAGR of 6.3% during the forecast period (2026-2033).
Growing demand for energy-efficient cooling solutions, rising emphasis on environmental sustainability, rapid expansion of consumer electronics, increasing adoption in electric vehicles, and advancements in thermoelectric and caloric materials are driving the demand for solid state cooling solutions.
Growing focus on energy conservation and reduction of greenhouse gas emissions, coupled with increasing deployment of solid state cooling in electronics, automotive, healthcare, and aerospace applications, is expected to primarily drive solid state cooling market growth. The shift toward refrigerant-free technologies and the need for compact, reliable thermal management across industries are further accelerating adoption. Rising EV penetration and the need for precise battery thermal management are boosting demand. Continuous innovation in material science, integration with smart controls, and expanding use in compact and precision cooling applications are further supporting market expansion.
On the contrary, high initial system costs, limited cooling capacity for large-scale applications, material efficiency constraints, and strong competition from well-established conventional cooling technologies are estimated to impede solid state cooling market penetration over the coming years.
Market snapshot - 2026-2033
Global Market Size
USD 892.09 Million
Largest Segment
Cooling Systems
Fastest Growth
Refrigeration Systems
Growth Rate
6.4% CAGR
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Global Solid State Cooling Market is segmented by Applications, Technologies, End Users and region. Based on Applications, the market is segmented into Consumer Electronics and Automotive. Based on Technologies, the market is segmented into Thermoelectric Devices and Advanced Materials. Based on End Users, the market is segmented into Industrial and Residential. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Which Solid State Cooling Component Brings in the Most Business?
The cooling systems segment is forecasted to hold a significant chunk of the global solid state cooling market share in the future. High preference for solid state cooling for precise, localized temperature control where reliability, compact size, and vibration-free operation are critical help bolster the dominance of this segment. The dominance of this segment is reinforced by demand from consumer electronics, medical devices, automotive thermal management, aerospace, and industrial equipment sectors.
Meanwhile, the refrigeration systems segment is forecasted to exhibit rewarding opportunities as per this global solid state cooling industry analysis going forward. Growing preference for sustainable, refrigerant-free cooling solutions is slated to generate new opportunities for companies via this segment.
Which Type of Solid State Cooling is Highly Popular?
Room-based cooling is estimated to spearhead the global solid state cooling market revenue generation potential in the long run. High suitability of room-based cooling solutions to handle higher heat loads efficiently is helping this segment hold sway over others. Reduced risk of equipment failure and downtime offered by room-based cooling is also driving up its adoption.
On the other hand, demand for row/rack-based cooling is expected to rise at an impressive CAGR over the coming years. Increasing adoption of high rack densities in data centers and expansion of hyperscale data centers are creating new business scope via this segment in the long run.
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What Allows North America to Lead Solid State Cooling Adoption?
High R&D investments across various industries and early adoption of advanced cooling technologies allow North America to spearhead global demand for solid state cooling. Strict environmental regulations encouraging refrigerant-free and energy-efficient cooling further cement the dominance of this region. Availability of robust venture capital and state funding for material science R&D and innovation is also slated to make this a key hub for solid state cooling companies in the long run. High purchasing power and readiness to adopt premium technologies further reinforce North America’s stance as a global leader in solid state cooling adoption.
Solid State Cooling Market in United States
Robust cross-sector collaboration and high investments in cooling technology R&D are allowing the country to emerge as a dominant market going forward. Automotive OEMs and EV startups pursue battery thermal systems to extend range and safety, while medical device manufacturers require precision, low-vibration cooling for diagnostics and storage. Use of solid state cooling systems in large defense and aerospace programs of the United States is also slated to bolster revenue generation potential of this country.
Solid State Cooling Market in Canada
A combination of advanced research institutions and niche industry needs defines the demand for solid state cooling solutions across Canada. Provincial incentives for green technologies and cross-industry collaboration are also expected to fast-track pilot deployments of advanced solid state cooling solutions. High investments in material science and thermoelectric research by universities and government labs is also estimated to widen the scope of innovation for solid state cooling companies looking to make a mark in the North American region in the future.
Should Solid State Cooling Providers Invest in Asia Pacific?
Rapid industrialization and accelerating electric vehicle adoption make Asia Pacific the most opportune region for solid state cooling companies over the coming years. Growing government support and investments in semiconductor fabrication, consumer electronics, and battery technologies across Asian countries is also creating new business scope for solid state cooling providers. Rising demand for compact cooling solutions in smartphones, wearables, and medical devices in Japan, China, India, Taiwan, and South Korea is also driving up the sales of advanced solid state cooling systems.
Solid State Cooling Market in Japan
Demand for solid state cooling in Japan is slated to be backed by precision electronics, semiconductor fabrication, and automotive manufacturing sectors. Strong supply chain integration allows rapid incorporation of solid state components into mass production. Growing preference for long-life, low-maintenance cooling solutions in different electronics and automation companies is expected to prompt investments in advanced solid state cooling technologies across the country going forward.
Solid State Cooling Market in South Korea
Presence of an established electronics and semiconductor manufacturing industries is primarily shaping solid state cooling demand in the country. Major conglomerates and fabs require localized thermal solutions for high-density chips and 5G infrastructure, emphasizing performance and integration into system-in-package designs. Transition of the domestic automotive sector towards electric vehicles is also forecasted to boost the sales of advanced solid state cooling systems in the South Korea through 2033.
Will Europe Offer Good Returns on Investments for Solid State Cooling?
High emphasis on sustainability and growing investments in green cooling technologies shape the demand for solid state cooling systems in this region. Use of solid state cooling in battery and cabin thermal management applications in the automotive industry is expected to rise rapidly. High investments in advanced research in thermoelectric materials and energy-efficient systems are also slated to open up new avenues of business for solid state cooling companies focused on European countries in the long run.
Solid State Cooling Market in United Kingdom
Expansion of data infrastructure requirements coupled with a growing medtech sector is driving the demand for solid state cooling in the country. Presence of a robust academic research ecosystem helps boost innovation of novel caloric materials and thermoelectric efficiency improvements. Data centers and edge computing installations require silent, maintenance-light thermal management, which is prompting investments in solid state cooling systems across the United Kingdom.
Solid State Cooling Market in Germany
Majority of solid state cooling demand in the country is expected to stem from the automotive and industrial sectors. Automotive OEMs and Tier-1 suppliers prioritize battery thermal management and cabin climate innovations to improve EV performance and meet strict safety standards. Research institutes and Fraunhofer centers are playing a crucial role in accelerating novel solid state cooling prototype validation across Germany. Imposition of stringent energy efficiency and environmental regulations is attracting different end users towards solid state cooling systems.
Solid State Cooling Market in France
Established research networks and targeted industrial cooling requirements are forecasted to shape the demand for solid state cooling solutions across France. National labs and engineering schools play a crucial role in material science and thermoelectric research, which allows solid state cooling manufacturers to innovate. Government programs promoting green technologies and industrial innovation provide grants and pilot opportunities for solid state cooling innovators looking to make a mark in the country.
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Solid State Cooling Market Drivers
Increasing Use in Automotive and Electric Vehicle (EV) Thermal Management
Technological Innovation And Advanced Materials Development
Solid State Cooling Market Restraints
Limited Cooling Capacity For Large Or Heavy-duty Applications
Competition From Established Conventional Cooling Technologies
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Solid state cooling providers should focus on creating solutions that are eco-friendly and use minimal water. Developing customized solid state cooling strategies and solutions for different types of data centers is also a key opportunity for market players as per this global solid state cooling industry analysis.
The robust increase in data center infrastructure expansion has created an opportune setting for solid state cooling startups. Here are a few startups that are influencing the demand for solid state cooling on a global level.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising demand for energy-efficient and refrigerant-free cooling solutions, coupled with rapid growth in electronics, electric vehicles, and precision medical devices, is anticipated to drive the demand for solid state cooling going forward. However, high initial system costs and limited cooling capacity for large-scale applications are slated to slow down adoption in the future. North America is expected to spearhead solid state cooling demand due to strong R&D ecosystems, early technology adoption, and strict environmental regulations. Advancements in thermoelectric and caloric materials, along with integration into EV thermal management and compact electronics, are anticipated to be key trends driving the solid state cooling industry in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 550.2 Million |
| Market size value in 2033 | USD 953.5 Million |
| Growth Rate | 6.3% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Solid State Cooling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Solid State Cooling Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Solid State Cooling Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Solid State Cooling Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Global Solid State Cooling Market size was valued at USD 892.09 Million in 2025 and is poised to grow from USD 949.19 Million in 2026 to USD 1465.35 Million by 2033, growing at a CAGR of 6.4% during the forecast period (2026-2033).
Solid state cooling providers should focus on creating solutions that are eco-friendly and use minimal water. Developing customized solid state cooling strategies and solutions for different types of data centers is also a key opportunity for market players as per this global solid state cooling industry analysis. 'Phononic Inc.', 'Mercury Systems Inc.', 'II-VI Incorporated', 'Coheretn Corp.', 'Ferrotec Holdings Corporation', 'CUI Devices', 'Micropelt GmbH', 'Laird Thermal Systems Inc.', 'Delta Eletronics Inc.', 'Thermion Company', 'RMT Ltd.', 'Kryotherm', 'Crystal Ltd.Achilli S.r.l'
A rapid boom in sales of electric vehicles around the world is slated to create new business scope for solid state cooling providers. EV batteries require precise temperature control to optimize performance, safety, and longevity. Solid state cooling systems help regulate battery temperatures without vibration, leakage risk, or bulky components inherent to liquid cooling. These benefits are expected to boost the preference and adoption of advanced solid state cooling solutions in the automotive industry going forward.
Rapid Advancement In Thermoelectric And Caloric Materials: Solid state cooling companies are expected to focus on incorporation of novel thermoelectric, magnetocaloric, and electrocaloric materials. Emphasis on material innovation is expected to be a key solid state cooling industry trend as it allows for improvement of material coefficients, thermal conductivity, and durability in solid state cooling systems. As material science innovation accelerates, performance gaps with conventional cooling technologies are narrowing, and expanding the business scope for market players.
What Allows North America to Lead Solid State Cooling Adoption?
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