"Magnetic Refrigeration Market" Global Industry Trends and Forecast to 2024
Market Analysis: Magnetic Refrigeration Market The Global Magnetic Refrigeration Market accounted to USD 6 billion in 2016 growing at a CAGR of 98.8% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. Market Definition: Magnetic Refrigeration Market Magentic refrigeration is based on the principle of Magnetocaloric Effect (MCE). magnetocaloric effect is a phenomenon where Magnetocaoric materials gets heated up when they are immersed in the magnetic field and cool down when removed from it, almost instantly. Magnetic refrigeration is safer, compact, and quieter and it is higher cooling efficient as compared to the traditional gas compression refrigeration. A series of the magnetization-demagnetization cycles to the magnecto caloric alloys is applied in a magnetic refrigeration system. Major Market Drivers and Restraints: Low energy consumption by magnetic refrigeration systems Alternative to air conditioners and heat pumps Increasing focus on green technology Low awareness High cost of equipment Request for Free Sample Report @ http://databridgemarketresearch.com/request-a-sample/?dbmr=global-magnetic-refrigeration-market
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