IMARC Group, a leading market research company, has recently releases report titled “Semiconductor Coolers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global semiconductor coolers market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the semiconductor coolers market?

Report Attributes


Market Size in 2022

US$ 3.38 Billion

Market Forecast in 2028

US$ 4.56 Billion

Growth rate (2023 to 2028)

CAGR of 5.20%

Base Year of the Analysis


Forecast Period


What is semiconductor coolers?

Semiconductor coolers, alternatively referred to as thermoelectric coolers, are devices that utilize the Peltier effect for cooling or heating an object. They can be categorized into single-stage and multi-stage variants and comprise of solid-state heat pumps that apply a voltage difference between two layers of semiconductor materials for transmitting heat from one side of the device to the other. Semiconductor coolers are small, lightweight, highly efficient, and do not produce vibration or noise. They help to make portable cold storage or heat preservation boxes, heat dissipation of electronic devices, cold and hot water dispensers, etc. Consequently, semiconductor coolers find extensive applications across numerous sectors, including automotive, healthcare, defense, consumer electronics, food and beverages (F&B), etc.

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What are the growth prospects and trends in the semiconductor coolers?

The growing usage of cryogenic cooling for freezing biological products and food products by exposing them to an extremely cold temperature is primarily driving the semiconductor coolers market. Additionally, the escalating sales of consumer electronic products, such as laptops, smartphones, computers, coffee makers, speakers, grillers, toasters, microwaves, etc., currently and the rising requirement for temperature-controlled storage and transportation systems, which include storage containers and refrigerated truck trailers are further propelling the market growth.

Moreover, the inflating demand for semiconductor coolers in the military industry that facilitate temperature control in weapons and other equipment is acting as another significant growth-inducing factor. Besides this, the increasing product employment in automobiles for maintaining the temperature in engines, advanced driver assistance systems or ADAS, and electronic components is also positively influencing the global market. Apart from this, the elevating need for temperature control in three-dimensional or 3D printing and the expanding number of data centers across countries are expected to bolster the semiconductor coolers market in the coming years.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

  • Single Stage Semiconductor Cooler
  • Multi-Stage Semiconductor Cooler

Application Insights:

  • Automotive
  • Consumer Electronics
  • Healthcare
  • Defense
  • Others

Breakup by Geography:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Advanced Thermal Solutions Inc.
  • Coherent Corp.
  • Custom Thermoelectric LLC
  • Ferrotec Holdings Corp.
  • Laird Thermal Systems GmbH
  • Merit Technology Group, Nippon India
  • TE Technology Inc.
  • Wakefield Thermal Solutions
  • Wellen Technology Co. Ltd.
  • Xiamen Hicool Electronics Co. Ltd.

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