Solar Freezer Market to Hit $15.5 Billion by 2030, Says Allied Market Research

Portland, OR, July 12, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global solar freezer market was pegged at $8.0 billion in 2020, and is expected to reach $15.5 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.

Rise in demand among the healthcare facilities sectors in off-grid areas and need for solar refrigeration in the military & recreation sector drive the global solar freezer market. However, high initial investment costs and ease of conventional refrigeration systems hinder the market growth. On the contrary, awareness regarding prospects of solar freezer would open new opportunities in the coming years.

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Covid-19 scenario:

The increase in demand for vaccine to prevent Covid-19 infection created need for solar freezers in the healthcare sector.
However, government of several countries imposed strict lockdown restriction and advised to close several manufacturing facilities to curb the spread of virus.
Moreover, the prolonged lockdown resulted in supply chain disruption and increase in prices of raw materials.

The report segments the global solar freezer market on the basis of type, capacity, end use, and region.

Based on type, the solar-battery based segment held the largest share in 2020, accounting for nearly three-fifths of the market. However, the solar-direct drive segment is expected to portray the highest CAGR of 7.8% from 2021 to 2030.

Get detailed COVID-19 impact analysis on the Solar Freezer Market Request Here

On the basis of end use, the infrastructure segment dominated the market in 2020, contributing to nearly one-third of the market. However, the household segment is estimated to register the highest CAGR of 7.6% during the forecast period.

The global solar freezer market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific would showcase the highest CAGR of 8.1% during the forecast period. In addition, the region held the largest share in 2020, contributing to more than two-fifths of the market.

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The global solar freezer market includes an in-depth analysis of the prime market players such as EcoSolarCool, SunDanzer, CONNEXA ENERGY, B Medical Systems, Unique Off-Grid Appliances, Dulas, DOMETIC, KYOCERA, Engel Coolers, Sure Chill Steca Elektronik, and Vestfrost Solutions.

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