As per the latest report by IMARC Group, titled “Solar Freezer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global solar freezer market reached a value of US$ 9.2 Billion in 2022. A solar freezer is a refrigeration unit that functions on energy provided by the sun. It is used to preserve perishable goods such as meat and dairy products, vaccines, drugs, and other pharmaceutical products at their appropriate temperature to prevent spoilage. It is also utilized in off-grid locations where utility-provided AC power is unavailable. Solar freezer consumes less energy, is environment-friendly, and has longer operational life as compared to conventional refrigeration systems. As a result, it finds extensive applications across healthcare, pharmaceutical, and food and beverage (F&B) industries.
Global Solar Freezer Market Trends:
The market is primarily driven by the increasing demand for effective refrigeration systems that run on renewable energy resources. In addition, the rising environmental consciousness among consumers has prompted them to widely opt for solar freezers as they reduce energy consumption and minimize the dependence on chlorofluorocarbon (CFC) based refrigeration systems. Besides this, the expanding pharmaceutical industry represents another major growth-inducing factor. Due to the onset of coronavirus disease (COVID-19), there has been a significant increase in the demand for solar freezers across healthcare centers for storing vaccines, blood bags, and other medications. This, coupled with the growing need for portable solar freezers in recreational vehicles (RVs), is creating a positive market outlook across the globe. Furthermore, the rising disposable incomes of the consumers and the widespread product adoption by military forces in off-grid locations are also anticipated to propel the market growth. Looking forward, IMARC Group expects the market value to reach US$ 13.4 Billion by 2028, exhibiting a CAGR of 5.9% during the forecast period (2023-2028).
- Based on the type, the market has been bifurcated into solar-battery-based and solar-direct drive.
- On the basis of the capacity, the market has been categorized into less than 250 liters, 250-500 liters, and more than 500 liters.
- Based on the end use, the market has been segmented into medical (hospitals, pharmacies and vaccines, blood banks, and others), household, infrastructure, commercial, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being B Medical Systems, Connexa, Dulas Ltd, KATEK Memmingen GmbH, Kyocera Corporation, Rockwell Industries Limited, Sholep Energy Ltd, Sundanzer, The Sure Chill Company Limited, Unique Appliances Ltd and Vestfrost Solutions.
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