About Solar Freezer
The Solar Freezer Uses Photovoltaic Cells to Produce Energy from the Sun. Solar-Powered Refrigerators Can Keep Perishable Goods such as Meat & Dairy Cool in Hot Climates & Are used to Keep Much-Needed Vaccines at their Appropriate Temperature to Avoid Spoilage. They are Finding their use Mainly in Cold Chain Supply Systems that Require Continuous Refrigeration. A Surge in the Price of Electricity is Pushing for the Generation of Electricity from Renewable Energy Resources. The Government Push for the Adoption of Environmentally Friendly Energy Sources is Further Going to Boost the Usage of Solar Freezers
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.25% |
The Solar Freezer Market is Moderately Fragmented with the Presence of Many Players Worldwide. Some of the Leading Players are Adopting Some Organic & Inorganic Strategies Such as Merger, Acquisition, Expansion, New Product Launch, Among Others in Order to Gain Leading Share Within the Market. Owing to The Supportive Government Regulations, there are Massive Opportunities Emerging for the New Entrants Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Solar Freezer market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
SunDanzer Refrigeration Inc. (United States), SunFrost (United States), EcoSolarCool (United States), Connexa (United States), Samsung (South Korea), Haier (China), VestFrost Solutions (Denmark), Labtron Equipment Limited (United Kingdom), SolAir World International (Singapore) and GoSun Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Green NRG Co. (Australia), M Kopa (Kenya), Envirotec Limited (United Kingdom), Bharat Solar Energy (India), SINFIN (India), ZenelGie Global (Nigeria), Qingdao Zhuodong Industry and Trade Co. Ltd (China), Fujian Chuanglong Electric Appliance Technology Co. Ltd. (China) and Taizhou Tongbo New Energy Co. Ltd (China).
Segmentation Overview
AMA Research has segmented the market of Global Solar Freezer market by Type (Battery Powered System (BPS) and Solar Direct Drive (SDD)), Application (Military, Healthcare, Commercial, Household and Others) and Region.
On the basis of geography, the market of Solar Freezer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Temperature, the sub-segment i.e. Single Temperature will boost the Solar Freezer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity, the sub-segment i.e. Less than 250 Liters will boost the Solar Freezer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Hybrid Solar Freezers with the Amalgamation of Battery & Direct Solar Technologies
Market Growth Drivers:
Rise in Refrigeration of Vaccines & Medicines, in Healthcare Facilities, in Remote Locations, where Grid Electricity is not Available Throughout the Day and Need for the Refrigeration in Military Locations Involving the Preservation of Foods for Personnel
Challenges:
Creating Awareness about the Usage of Eco-Friendly Products like Solar Freezers Worldwide and Making Solar Freezers Affordable by Innovating Technologies for Cutting Overall Costs of Solar Freezers
Restraints:
High Initial Investment Costs of Solar Freezers and Prevalence of Conventional Refrigeration Systems
Opportunities:
Good Prospects of Revenue Generation from Solar Freezers by Entering Households & Commercial Places like Supermarkets Replacing Conventional Freezers and Solar Freezers can be the Best Solution in Aiding the Ice Cream Industry to Penetrate the Unexplored Locations
Market Leaders and their expansionary development strategies
In December 2019, M-Kopa Solar launched a solar-powered refrigerator that is targeting off-grid homes and businesses
In October 2023, A committed multi-service operator, Orange has signed a strategic partnership with the startup Koolboks to provide freezing and refrigeration solutions in 12 African countries. The solution will be distributed through the Orange Energies offer which was launched five years ago with the ambition of facilitating access to energy through digital solutions.
Key Target Audience
Solar Freezer Manufacturers, Renewable Energy Investors, Distributors/Traders, Importers/Exporters, Regulatory & Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.