Magnetic Refrigeration Market worth 163.7 Million USD by 2023 with a growing CAGR of 108.0%
According to the new research report " Magnetic Refrigeration Market by Product (Refrigeration Systems, Air Conditioning Systems and Heat Pumps), Application (Domestic, Commercial, Transportation and Industrial), and Geography - Global Forecast to 2023" , the magnetic refrigeration market is expected to be valued at USD 163.7 Million by 2023, growing at a CAGR of 108.0% between 2018 and 2023. The growth of this market is mainly driven by factors such as increasing focus on green technology, low maintenance cost, and high energy efficiency. Domestic application expected to witness the highest CAGR between 2018 and 2023 in the magnetic refrigeration market The market for the domestic application is expected to grow at the highest CAGR between 2018 and 2023. The domestic application includes household appliances for personal use, such as refrigerators. Companies such as Camfridge Ltd. (UK) and Astronautics Corporation of America (US) are planning to launch products for d...