Report Code: A08173 | Pages: NA | Mar 2023 | 2652 Views | ||
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Request Now !Magnetic refrigeration is a cooling technology based on magnetocaloric effect that can be used to attain extremely low temperature in conventional refrigeration systems. Magnetocaloric effect is a phenomenon in which temperature of magnetocaloric materials such as Gd, FeRh increases on experiencing a sharp fall while the magnetic field applied on the material is stopped instantly.Â
Magnetic refrigeration system finds large scale application in the communication sector such as cooling of infrared sensors in surveillance satellites as it is environment-friendly with lower noise emission and does not use harmful, ozone-depleting coolant gases with reduced CO2 production. This technology is widely used in different commercial system such as air conditioner, freezer, chiller as it is light-weight, safe, compact with higher cooling efficiency and product life-cycle due to low power consumption than conventional gas-compression refrigeration.Â
Magnetic refrigeration technique is progressively conservative with high temperature range, requires less maintenance due to low rotation of unit parts and saves energy thus enhancing product quality standards in market. Further advancements in this energy-saving technology offering low operational cost over its conventional counterparts facilitates the magnetic refrigeration market share to undergo exponential growth in coming years.
Rise in awareness regarding ozone-layer depletion leading to strict guidelines imposed for use of environment-friendly magnetic refrigeration system and energy-efficiency related to this system are primary factors propelling magnetic refrigeration market growth. However, high cost of this equipment and lack of awareness regarding benefits of this system hinders magnetic refrigeration market growth.
On the contrary, this technology is also used in freezers, ice-cream cabinets, beverage coolers to preserve huge amount of food, drinks in the food and beverage industry boosts the overall revenue. In addition, it is used in healthcare industry to store drugs and vaccines as well as in heat pumps among industrial applications. Robust growth in the industrial and commercial magnetic refrigeration system such as hotels, retail stores, bakeries, confectionaries will pave new avenues to magnetic refrigeration industry.
Key magnetic refrigeration market players have adopted necessary steps to improve accuracy, efficiency, and overall performance of nonregenerative magnetic refrigeration system.Â
In March 2019, Trane, one of the global leaders in heating ventilation and air conditioning systems (HVAC), launched high speed magnetic centrifugal chillers (HSWA) in Mumbai. These chillers have stable operating range which exceed AHRAE 90.1 Std by 40%. In addition, it comprises of CHIL evaporator, next-generation heat exchanger that optimizes refrigerant flow and reduces charge. The magnetic centrifugal chiller is equipped with oil-free magnetic bearing compressor that reduces the operational cost. It also has Genyue 5th Generation full DC Inverter VRF System that saves 30% installation space and offers 26% better efficiency than conventional system.
Active magnetic regenerative refrigerator design and working parameters fulfil the needs of a vehicle with minimum electric consumption and device mass.Â
This technology is used in an electric vehicle that depends on batteries for their operations. The behavior of magnetocaloric regenerator is coupled with circulating fluid as a means to optimize efficiency of a system. This technology is used as a solution for improvements in energy efficiency, compactness, noise level, and reduction in environmental impacts which is anticipate to replace vapor-compression technology in the future.
Key benefits of the stakeholders:
Questions answered in the Magnetic Refrigeration Market research report:
Magnetic Refrigeration Market Report Highlights
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Key Market Players | Cooltech Application, Camfridge Ltd., Whirlpool Corp., Astronautics Corp. America, BASF SE, Haier Inc., General Electric, Toshiba Corp., Sigma-Aldrich Co., Eramet. |
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