Solar Freezer Market: Current Analysis and Forecast (2021-2027)

Solar Freezer Market: Current Analysis and Forecast (2021-2027)

  • UnivDatos Market Insight
  • August 2021
  • Power
  • 184 pages

Report Description

Solar Freezer are those freezers that harness the solar energy and may include PV or solar thermal energy. These solar-powered freezers are usually used in off-grid locations where utility AC power is not available and are used in various industries including medical, commercial, infrastructure and others. 

In 2020, the consumption of all other fuels declined while the only source which increased the demand for energy sources was renewables 2020.  As the global economy recovers from the crisis, The renewable energy source witnessed an uptake, therefore, expand more quickly. As per International Energy Agency (IEA), in 2020,  the annual renewable capacity additions increased witnessed the highest year-on-year increase since 1999 and increased by 45% or 280 GW. Furthermore, exceptionally high-capacity additions become the “new normal” in 2021 and 2022, with renewables accounting for 90% of new power capacity expansion globally. Owing to this wide adoption of renewables across the world due to the deteriorating environment the solar freezer market is expected to grow in the forthcoming years.  

Another significant reason responsible for the growth of Solar Freezer market is the rising demand for energy and the growing adoption of solar-powered appliances owing to numerous benefits offered by them. Some of the benefits of using solar freezers include zero running cost, longer hold over time, scalable, lower maintenance with higher build quality. Furthermore, the rapid increase in solar power installations around the world is also propelling the solar freezer market globally. For instance, As per IEA, solar is setting the new track for new global deployments each year after 2022, with an average of around 125 GW of new capacity expanded globally between 2021 and 2025.  

Based on type, the global solar freezer market is fragmented into solar-battery based and solar-direct drive. The solar-battery based freezer segment dominated the market and grabbed XX% market share in 2020. However, solar-direct drive freezer accounted for a market valuation of US$ XX billion in 2020 and is expected to growing with a considerable CAGR of XX% over the forecast period.

Based on capacity, the global solar freezer market is segmented into less than 250 liters, 250-500 liters and more than 500 liters. The 250-500 liters segment accounted for a market valuation of US$ XX billion in 2020 and is expected to reach US$ XX billion by the year 2027 growing with a CAGR of XX% over the projected timeframe owing to the growing use of medium-sized freezers.

Based on End-Use, the global Solar Freezer market is segmented into medical, household, infrastructure, commercial and others. The infrastructure segment held the largest market revenue share in 2020 and is expected to grow at a CAGR of XX% during 2021-2027. however, the medical segment is also expected to grow with the lucrative CAGR of XX% during analyzed period.

For a better understanding of the market adoption of the Solar Freezer, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. Asia-Pacific constitutes a major market for the solar freezer industry and generated revenue of USD XX Million in 2020 due to the emerging demand for clean energy owing to the rising death due to pollution from fossil fuels use. Also, the presence of well-established players in the region adding pace to the growth of the market in the region. 

Some of the major players operating in the market CONNEXA ENERGY, EcoSolarCool, SunDanzer, B Medical Systems, Unique Off-Grid Appliances, Sure Chill, DOMETIC, Dulas, Engel Coolers, Vestfrost Solutions, among others. Several M&As along with partnerships have been undertaken by these players to develop solar freezer.

This market is expected to witness a boost on account of the growing demand for energy and wide adoption of renewable energy sources across the globe. In addition to this, key players worldwide are introducing new and advanced technologies as well as applications to cater to the middle-income group propelling the growth of the solar freezer market across the globe.

Global Solar Freezer Market was valued at US$ XX billion in 2020 and is anticipated to reach US$ XX billion by 2027 displaying an elevated CAGR of XX% over the forecast period (2021-2027). Solar Freezers are those freezers that harness solar energy and may include PV or solar thermal energy. These solar-powered freezers are usually used in off-grid locations where utility AC power is not available and are used in various industries including medical, commercial, infrastructure, and others. 

In 2020, the consumption of all other fuels declined while the only source which increased the demand for energy sources was renewables 2020.  As the global economy recovers from the crisis, The renewable energy source witnessed an uptake, therefore, expand more quickly. As per International Energy Agency (IEA), in 2020, the annual renewable capacity additions increased witnessed the highest year-on-year increase since 1999 and increased by 45% or 280 GW. Furthermore, exceptionally high-capacity additions become the “new normal” in 2021 and 2022, with renewables accounting for 90% of new power capacity expansion globally. Owing to this wide adoption of renewables across the world due to the deteriorating environment the solar freezer market is expected to grow in the forthcoming years.  

Another significant reason responsible for the growth of the solar freezer market is the rising demand for energy and the growing adoption of solar-powered appliances owing to numerous benefits offered by them. Some of the benefits of using solar freezers include zero running cost, longer hold over time, scalable, lower maintenance with the higher build quality. Furthermore, the rapid increase in solar power installations around the world is also propelling the solar freezer market globally. For instance, as per IEA, solar is setting the new track for new global deployments each year after 2022, with an average of around 125 GW of new capacity expanded globally between 2021 and 2025.  

CONNEXA ENERGY, EcoSolarCool, SunDanzer, B Medical Systems, Unique Off-Grid Appliances, Sure Chill, DOMETIC, Dulas, Engel Coolers, Vestfrost Solutions are some of the prominent players operating in the solar freezer market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Type, Solar-Battery Based segment holds the major share”

Based on type, the global solar freezer market is fragmented into solar-battery-based and solar-direct drive. The solar-battery-based freezer segment dominated the market and grabbed XX% market share in 2020. However, the solar-direct drive freezer accounted for a market valuation of US$ XX billion in 2020 and is expected to grow with a considerable CAGR of XX% over the forecast period. Solar direct drive freezers are relatively the new technology of solar-powered freezers bypassing the use of a battery and charge controller. These are connected to PV panels for power and store solar energy in the form of frozen liquids (e.g., ice or phase-change material) to provide continuous cooling for a limited number of cloudy days and at night. The growth of these freezers market is because of its growing use in vaccine storage as these are prequalified by WHO. 

“Amongst Capacity, 250-500 liters segment holds the major share”

Based on capacity, the global solar freezer market is segmented into less than 250 liters, 250-500 liters, and more than 500 liters. The 250-500 liters segment accounted for a market valuation of US$ XX billion in 2020 and is expected to reach US$ XX billion by the year 2027 growing with a CAGR of XX% over the projected timeframe. The growth of this segment is attributed to the growing use of medium-capacity freezers in a wide array of applications in medical and household setups. Many people use this medium-sized freezer as they do not consume a very high amount of power and offer excellent total cost of ownership and best in class water pack freezing performance.

“Amongst End-Use, Infrastructure segment holds the major share”

Based on End-Use, the global Solar Freezer market is segmented into medical, household, infrastructure, commercial, and others. The infrastructure segment held the largest market revenue share in 2020 and is expected to grow at a CAGR of XX% during 2021-2027. however, the medical segment is also expected to grow with the lucrative CAGR of XX% during the analyzed period as solar freezers are being widely adopted in various blood banks for the storage of blood samples. Further, these freezers also provide a reliable cold chain for important vaccines even in remote areas as the integrity of vaccines or blood packs are well safeguard in these freezers due to their high-temperature stability.

“Asia-Pacific represents one of the largest markets of Solar Freezer market” 

For a better understanding of the market dynamics of the solar freezer market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. Asia-Pacific dominated the market and generated revenue of US$ XX million in 2020 owing to the increasing adoption of solar-powered appliances across countries such as China, Japan, India, etc. 

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

Global solar freezer market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • CONNEXA ENERGY
  • EcoSolarCool
  • SunDanzer
  • B Medical Systems
  • Unique Off-Grid Appliances
  • Sure Chill
  • DOMETIC
  • Dulas
  • Engel Coolers
  • Vestfrost Solutions

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1 MARKET INTRODUCTION
1.1.Market Definitions
1.2.Objective of the Study
1.3.Limitation
1.4.Stake Holders
1.5.Currency Used in Report
1.6.Scope of the Solar Freezer Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1.Research Methodology for the Solar Freezer Market
2.1.1.Main Objective of the Solar Freezer Market

3 MARKET SYNOPSIS (INDUSTRY AT A GLANCE)

4 EXECUTIVE SUMMARY

5 SOLAR FREEZER AMID COVID

6 SOLAR FREEZER MARKET REVENUE (US$ BN), 2021-2027F

7 MARKET INSIGHTS BY TYPE

7.1. Solar-Battery Based
7.2. Solar-Direct Drive

8 MARKET INSIGHTS BY CAPACITY
8.1 Space Heating System
8.2 Domestic Hot Water Systems
8.3 Solar Combi Systems

9 MARKET INSIGHTS BY END-USE
9.1Medical
9.2Household
9.3Infrastructure
9.4Commercial
9.5Others

10 MARKET INSIGHTS BY REGION
10.1.NORTH AMERICA SOLAR FREEZER MARKET
10.1.1. United States of America
10.1.2. Canada
10.1.1. Rest of North America
10.2.EUROPE SOLAR FREEZER MARKET
10.2.1. United Kingdom
10.2.2. Germany
10.2.3. France
10.2.4. Spain 
10.2.5. Italy
10.2.6. Rest of Europe
10.3. ASIA-PACIFIC SOLAR FREEZER MARKET
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Australia
10.3.5. Rest of Asia-Pacific
10.4. REST OF THE WORLD SOLAR FREEZER MARKET

11 SOLAR FREEZER MARKET DYNAMICS
11.1.Drivers
11.2.Challenges
11.3.Impact Analysis
11.4.Opportunity

12 SOLAR FREEZER MARKET OPPORTUNITIES

13 SOLAR FREEZER MARKET TRENDS


14 DEMAND AND SUPPLY SIDE ANALYSIS
14.1.Demand Side Analysis
14.2.Supply Side Analysis
14.2.1. Top Product Launches
14.2.2. Top Business Partnerships
14.2.3. Top Business Expansions, Investments and Divestitures
14.2.4. Top Merger and Acquisitions

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED
17.1CONNEXA ENERGY
17.2EcoSolarCool
17.3SunDanzer
17.4B Medical Systems
17.5Unique Off-Grid Appliances
17.6Sure Chill
17.7DOMETIC
17.8Dulas
17.9Engel Coolers
17.1Vestfrost Solutions

18 DISCLAIMER

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