고체 냉각 : 시장 점유율 분석, 산업 동향 및 통계 데이터, 성장 예측(2026-2031년)

According to Mordor Intelligence, the solid state cooling market size was estimated at USD 0.95 billion in 2025 and is estimated to grow from USD 1.02 billion in 2026 to USD 1.58 billion by 2031, at a CAGR of 9.15% during the forecast period (2026-2031).

This report is Segmented by Product Type (Cooling Systems and Refrigeration Systems), Technology (thermoelectric Cooling, Magnetocaloric Cooling, and More), End-User Industry (Consumer Electronics, Healthcare, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

Global Solid State Cooling Market Trends and Insights

Increasing Demand for Refrigerant-Free Cooling in Electronics and Medical Devices

The EU F-gas Regulation prohibits F-gases in domestic refrigeration from January 1, 2026, while the US American Innovation and Manufacturing (AIM) Act establishes a phasedown framework for hydrofluorocarbons. These requirements compress OEM evaluation schedules for cooling designs that use conventional refrigerants, as product teams must avoid delayed qualification, refrigerant servicing obligations, documentation burdens, and exposure to changing regulations in products intended for long operating lives. Medical device manufacturers must also account for lengthy authorization cycles when selecting thermal systems. Thermoelectric equipment carries no refrigerant charge, requires no refrigerant handling, and has zero global warming potential at the point of use. The solid-state cooling market can benefit when manufacturers incorporate thermal architecture into product platforms with multiyear design cycles. Sustainability requirements reinforce this preference for new products, even where existing equipment remains in service, because a refrigerant-free design can simplify product documentation, reduce exposure to future changes in refrigerant availability, and provide manufacturers with a common thermal platform for products sold across multiple regulated regions.

Growing Thermal Management Requirements for Electric Vehicle (EV) Batteries and Power Electronics

Solid-state battery designs require precise heating in cold conditions, while inverters, onboard chargers, and motor controllers generate concentrated heat at the module level. Conventional liquid loops remain appropriate for removing bulk heat from the vehicle. Thermoelectric devices address a different need by managing local hot spots near cell interfaces, power junctions, and charging contacts, where temperature gradients can affect component reliability, charging consistency, and the usable life of sensitive electronics. A 2026 review described the growing application of thermoelectric cooling to localized temperature-gradient management in solid-state battery modules. Research published in 2026 also documented improved performance and reliability from thermoelectric active thermal management in gallium nitride power devices. The solid-state cooling market benefits from this division of roles, as precision thermal control can complement, rather than replace, vehicle liquid cooling. This allows vehicle designers to direct liquid systems toward broad heat removal and deploy small solid-state units only at locations where local temperature accuracy is more critical than capacity.

High Material Costs, Energy Efficiency Constraints, and Early-Stage Manufacturing

Bismuth telluride modules cost 3-5 times as much as equivalent-capacity vapor-compression components. The cost difference becomes more pronounced at larger capacities because the thermoelectric coefficient of performance declines faster with scale than compressor efficiency. A 2025 study reported a water-cooled integrated thermoelectric cooler with a COP of 3.26 at 80 W, but the design remained application-specific. Tellurium is a byproduct of copper refining, and China accounts for 40% of global production, limiting module producers' ability to quickly increase supply when new orders rise or when geopolitical conditions disrupt established trading patterns. This concentration creates cost uncertainty for module manufacturers and limits the use of thermoelectric modules in HVAC and commercial refrigeration applications. Magnetocaloric and electrocaloric solutions present an additional constraint, as their commercial manufacturing remains in early stages despite their potential as future alternatives.

Other drivers and restraints analyzed in the detailed report include:

1. Rising Adoption for Data Center Rack and Localized Cooling Applications
2. Growing Demand for Precision and Low-Maintenance Cooling in Semiconductor and Industrial Equipment
3. Integration Challenges with Existing HVAC and Refrigeration Infrastructure

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Cooling Systems accounted for 64.22% of the Solid State Cooling Market in 2025. This segment includes scientific instruments, medical diagnostics, semiconductor metrology, and consumer electronics that require active, localized thermal control. Its dominant position reflects the maturity of Peltier-effect modules and a supplier base that includes Ferrotec, Kryotherm, Crystal Ltd., and TE Technology. These modules have been manufactured at an industrial scale for more than 4 decades, providing equipment makers with extensive performance data, established qualification practices, known failure modes, and multiple suppliers capable of supporting product development cycles. Their established use provides equipment designers with familiar component options for precise cooling. Regulation (EU) 2024/573 was not fully reflected in 2025 revenue due to the time required for product qualifications, but its direction encouraged the adoption of refrigerant-free thermal designs in new product development.

Refrigeration Systems are forecast to expand at a 9.83% CAGR from 2026 to 2031. This growth reflects early commercial use of magnetocaloric and electrocaloric refrigeration in food retail and pharmaceutical cold chains. The supplied analysis described Magnotherm's Eclipse cabinet as achieving 15% higher energy efficiency than propane cases during an 11-week REWE pilot, indicating that refrigerant-free refrigeration could compete on both operating costs and environmental requirements. Established thermoelectric mini-coolers, portable vaccine refrigerators, and automotive beverage compartments provide an existing demand base, supported further by Electric Vehicle (EV) adoption and off-grid medical cold-chain needs. The Solid State Cooling Market is likely to see refrigeration expand from a smaller base while localized cooling remains the larger product category. Commercial scale will depend on cost reduction and proven performance across a wider set of installations, including stores with varying ambient conditions, maintenance capabilities, load profiles, product configurations, and local requirements for food preservation and energy use.

Complete Report Scope:

• By Product Type
  • Cooling Systems
  • Refrigeration Systems
• By Technology
  • Thermoelectric Cooling
  • Magnetocaloric Cooling
  • Electrocaloric Cooling
  • Other Solid-State Cooling Technologies
• By End-User Industry
  • Consumer Electronics
  • Healthcare
  • Automotive
  • Food and Beverage
  • Aerospace and Defense
  • Semiconductor Manufacturing
  • Other End-user Industries
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific accounted for 42.53% of the solid state cooling market in 2025 and is forecast to grow at a 9.73% CAGR through 2031. The region has the largest consumer electronics and semiconductor manufacturing base. China accounted for 39% of regional revenue, driven by semiconductor self-sufficiency programs, electric vehicle (EV) production, and green technology transitions. South Korea supports demand through memory and display production, where process tools require stable temperatures. Japan contributes high-value demand from precision optics, scientific instruments, and automotive power electronics. India is expanding electronics manufacturing and medical diagnostics capacity under production-linked incentive programs. The regional module supply chain, centered on Chinese, Russian, and Japanese producers, provides Asia-Pacific OEMs with procurement advantages that support local design wins. This supply chain also gives the market a broad manufacturing base, including closer access to component suppliers, shorter coordination between equipment makers and module producers, and familiarity with the requirements of electronics and semiconductor customers.

North America is the second-largest regional segment, with AI hyperscalers, defense electronics, semiconductor metrology, and medical diagnostics as major sources of demand. U.S. fabrication construction supports new installations of process chillers for wafer inspection and quality control, where vibration and contamination requirements limit conventional options. In March 2026, Phononic expanded its AI data center portfolio and announced that its systems were deployed across major hyperscalers, positioning the region as an early adopter of workload-aware thermal control. Europe is the third-largest region, with Germany and the United Kingdom contributing demand for automotive engineering, industrial automation, and medical technology. The EU fluorinated gas (F-gas) regulations give European refrigeration OEMs a clear near-term reason to evaluate refrigerant-free alternatives.

South America and the Middle-East & Africa remain smaller regional segments. Brazil leads demand in pharmaceutical cold-chain, telecom cooling, and industrial monitoring, while Argentina is developing early electronics manufacturing activity. Saudi Arabia and the UAE support demand through defense modernization, oil and gas electronics, and smart-city projects. South Africa requires remote medical diagnostics and off-grid laboratory equipment. The maintenance-free nature of thermoelectric equipment is an advantage where compressor servicing is difficult and centralized refrigerant infrastructure is unavailable. The solid state cooling market faces a longer adoption path in these regions; however, its applications align with modular and distributed thermal control, particularly where cooling must operate at a remote point of use, space is limited, service networks are uneven, and operators seek to avoid dependence on refrigerant-handling infrastructure.

1. Coherent Corp.
2. Crystal Ltd.
3. Delta Electronics, Inc.
4. Ferrotec Corporation
5. Gentherm Incorporated
6. Komatsu Ltd.
7. Kryotherm
8. Laird Thermal Systems, Inc.
9. Micropelt GmbH
10. Phononic
11. Solid State Cooling Systems
12. Tark Thermal Solutions
13. TE Technology, Inc.
14. TEC Microsystems GmbH
15. Thermion Company

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Increasing Demand for Refrigerant-Free Cooling Solutions in Electronics and Medical Devices
  • 4.2.2 Growing Thermal Management Requirements for Electric Vehicle Batteries and Power Electronics
  • 4.2.3 Rising Adoption of Solid-State Cooling for Data Center Rack and Localized Cooling Applications
  • 4.2.4 Increasing Preference for Low-Maintenance Cooling Systems in Industrial Automation
  • 4.2.5 Growing Demand for Precision Cooling in Semiconductor Manufacturing and Laboratory Equipment
  • 4.2.6 Sustainability-Led Replacement of High-GWP Refrigerants
• 4.3 Market Restraints
  • 4.3.1 High Material Costs and Lower Energy Efficiency Compared to Conventional Cooling Technologies
  • 4.3.2 Integration Challenges with Existing HVAC and Conventional Refrigeration Systems
  • 4.3.3 Limited Commercialization and Large-Scale Manufacturing of Electrocaloric and Magnetocaloric Technologies
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces Analysis
  • 4.5.1 Threat of New Entrants
  • 4.5.2 Bargaining Power of Suppliers
  • 4.5.3 Bargaining Power of Buyers
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Competitive Rivalry

5 Market Size and Growth Forecasts (Value)

• 5.1 By Product Type
  • 5.1.1 Cooling Systems
  • 5.1.2 Refrigeration Systems
• 5.2 By Technology
  • 5.2.1 Thermoelectric Cooling
  • 5.2.2 Magnetocaloric Cooling
  • 5.2.3 Electrocaloric Cooling
  • 5.2.4 Other Solid-State Cooling Technologies
• 5.3 By End-User Industry
  • 5.3.1 Consumer Electronics
  • 5.3.2 Healthcare
  • 5.3.3 Automotive
  • 5.3.4 Food and Beverage
  • 5.3.5 Aerospace and Defense
  • 5.3.6 Semiconductor Manufacturing
  • 5.3.7 Other End-user Industries
• 5.4 By Geography
  • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Rest of Asia-Pacific
  • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
  • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Russia
    • 5.4.3.6 Rest of Europe
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
  • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 Coherent Corp.
  • 6.4.2 Crystal Ltd.
  • 6.4.3 Delta Electronics, Inc.
  • 6.4.4 Ferrotec Corporation
  • 6.4.5 Gentherm Incorporated
  • 6.4.6 Komatsu Ltd.
  • 6.4.7 Kryotherm
  • 6.4.8 Laird Thermal Systems, Inc.
  • 6.4.9 Micropelt GmbH
  • 6.4.10 Phononic
  • 6.4.11 Solid State Cooling Systems
  • 6.4.12 Tark Thermal Solutions
  • 6.4.13 TE Technology, Inc.
  • 6.4.14 TEC Microsystems GmbH
  • 6.4.15 Thermion Company

7 Market Opportunities and Future Outlook

• 7.1 White-Space and Unmet-Need Assessment