According to the latest report by IMARC Group “Semiconductor Coolers Market: Size, Industry Trends, Share, Size, Growth, Research Report, Opportunity and Forecast 2023-2028“. The global semiconductor coolers market size reached US$ 3.38 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.56 Billion by 2028, exhibiting a growth rate (CAGR) of 5.20% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Also known as thermoelectric coolers, semiconductor coolers are devices that allow precise temperature control of components, such as fiber optic cables, laser drivers, precision voltage references, and temperature-critical devices. They are compatible with different thermal conditions and facilitate high performance independent of the orientation of the device. They use less electricity as compared to compressor-based units and facilitate low maintenance and longer lifetime. Moreover, solid-state semiconductor coolers have no moving parts, therefore, are less susceptible to breakage than traditional compressors. At present, they are used in the electronics, defense, automotive, and healthcare sectors across the globe.
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Semiconductor Coolers Market Trends:
The inflating disposable incomes and increasing adoption of consumer electronic products, such as smartphones, laptops, coffee makers, grillers, toasters, speakers, microwaves, and computers, currently represent one of the key factors influencing the market positively. In addition, the increasing use of semiconductor coolers in medical devices like lasers and diagnostic equipment to regulate temperature, along with the increasing prevalence of chronic medical conditions, is contributing to the market growth. Apart from this, semiconductor coolers find extensive applications in the military sector that facilitate temperature control in weapons. Moreover, the increasing adoption of semiconductor coolers in the automotive industry to maintain the temperature in engines, advanced driver assistance systems (ADAS), and other electronic systems is stimulating the market growth worldwide.
Report Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Single Stage Semiconductor Cooler
- Multi-Stage Semiconductor Cooler
Application Insights:
- Automotive
- Consumer Electronics
- Healthcare
- Defense
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape:
- Coherent Corp.
- Custom Thermoelectric LLC
- Ferrotec Holdings Corp.
- Laird Thermal Systems GmbH
- Merit Technology Group
- Nippon India
- TE Technology Inc.
- Wakefield Thermal Solutions
- Inc.
- Wellen Technology Co. Ltd.
- Xiamen Hicool Electronics Co. Ltd.
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