Home Energy And Power Solar Freezer Market Size, Share & Growth Analysis Report 2031

Solar Freezer Market

Solar Freezer Market Size, Share & Trends Analysis Report By Type (Solar-Battery Based, Solar-Direct Drive), By Capacity (Less than 250 ltrs, 250-500 ltrs, More than 500 ltrs), By End-Use (Medical, Household, Infrastructure, Commercial, Other End-Uses) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SREP55521DR
Study Period 2019-2031 CAGR 6.50%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 8.85 Billion
Forecast Year 2031 Forecast Year Market Size USD 15.60 Billion
Largest Market Asia Pacific Fastest Growing Market North America

Market Overview

The global solar freezer market size was valued at USD 8.85 billion in 2022 and is projected to reach a value of USD 15.60 billion by 2031, registering a CAGR of 6.50% during the forecast period (2022-2031). The expanding medical industry and the requirement to transport vaccines are driving the solar freezer market growth.

A solar freezer is a form of refrigeration device that runs on solar energy as its major source of electricity. Photovoltaic (PV) solar panels catch sunlight and turn it into electricity, which powers the freezer's compressor and cooling system. Solar freezers are especially useful in off-grid and isolated places where access to a constant power supply is restricted or uncertain.

One of the primary aspects driving the solar freezer market share is the growing need for efficient refrigeration systems that use renewable energy resources. With greater environmental awareness, consumers increasingly turn to solar freezers to reduce their reliance on ozone-depleting agents such as chlorofluorocarbons (CFCs). Furthermore, solar freezers have lower energy requirements when compared to conventional refrigerators and freezers, offering a boost to market growth.

Market Dynamics

Global Solar Freezer Market Drivers:

Rural Electrification and Energy Access

Access to reliable grid energy is limited in many rural and off-grid places. Solar freezers present a chance to supply refrigerated solutions for these regions' families, healthcare facilities, and enterprises. Many rural areas in Sub-Saharan Africa lack access to consistent electricity, which makes keeping food, vaccines, and medicines difficult. Solar freezers have been installed in some African countries to address these issues. Solar-powered vaccine freezers, for example, are utilized in rural Kenya, Tanzania, and Uganda to maintain the cold chain for vaccines, assuring their efficacy at remote healthcare facilities. These freezers not only help immunization campaigns but also allow for the safe storage of medical supplies and blood products, which helps increase healthcare access. The World Bank estimates that approximately 600 million people in Sub-Saharan Africa lack access to electricity. Rural communities are the hardest hit by this lack of access. Solar innovations, such as solar freezers, are helping to close the energy gap by delivering clean, dependable power for refrigeration and other vital needs.

Aside from healthcare, solar freezers are utilized by African rural farmers to store perishable food. Solar-powered cold rooms and freezers, for example, increase the shelf life of fruits and vegetables, minimizing food waste and improving farmer income. This is especially significant in locations where conventional refrigeration is unavailable. As a result, the solar freezer market trend is likely to shift correspondingly.

Global Solar Freezer Market Restraints:

High Initial Cost

The initial cost of purchasing and installing solar freezers, including solar panels and battery storage systems, can be relatively high compared to normal electric freezers. This expense can deter adoption, particularly in areas with little financial resources. According to the World Bank, rural populations in low- and middle-income nations frequently lack access to reasonable financing solutions, allowing them to invest in solar technologies more easily. Many locations have limited access to microloans or credit facilities for purchasing solar equipment.

According to a study by the International Renewable Energy Agency (IRENA), while the long-term cost advantages of solar freezers are significant, the high upfront expenditures remain an issue. These upfront fees are especially expensive for people and small companies with low financial resources in rural and off-grid areas. In some circumstances, government incentives, grants, and subsidies can help relieve the financial strain. However, the availability and usefulness of such support structures vary greatly from region to region.

Global Solar Freezer Market Opportunity:

Growing Environmental Consciousness

The growing emphasis on decreasing greenhouse gas emissions and addressing climate change offers an advantageous atmosphere for solar-powered appliances. This trend can help solar freezers, which are eco-friendly refrigeration options. The European Union (EU) has been actively promoting environmental sustainability and clean energy measures, such as solar technology promotion. Several EU countries have set aggressive renewable energy targets to cut carbon emissions and battle climate change. Solar freezers are increasingly acknowledged as an important component of reducing energy usage and reliance on fossil fuels. According to the European Environment Agency, the European Union has made significant progress in decreasing greenhouse gas emissions. The EU economy's greenhouse gas emissions totaled 941 million tonnes of CO2-equivalents in the first quarter of 2023, a 3% reduction over the same quarter in 2022.

The European Green Deal promise by the EU seeks to make Europe the world's first climate-neutral continent by 2050. Significant investments in renewable energy projects are being made as part of this program, which may lead to further opportunities for using solar freezers and other sustainable technology. The increased emphasis on clean energy and sustainability may boost the development of solar freezers in different parts of the world.

Regional Analysis

The global solar freezer market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant global Solar Freezer market shareholder and is estimated to grow at a healthy CAGR over the forecast period. The Asia-Pacific area is densely inhabited, with both industrialized and emerging economies. Many of these countries, notably those in South and Southeast Asia, experience issues with reliable energy availability, particularly in rural and remote locations. Solar freezers provide a feasible alternative for cold storage needs that do not require a constant grid power supply. Furthermore, governments in the region have been actively supporting the adoption of renewable energy, especially solar technology, to address energy security and environmental concerns. These very efficient machines cut electricity consumption in this region. Furthermore, their environmental benefits are minimal because these freezers have little effect on the environment. 

North America is anticipated to exhibit a healthy CAGR over the forecast period. A convergence of variables can be linked to North America's quick rise in the global solar freezer market. The region's growing dedication to environmentally friendly practices and renewable energy sources has accelerated the development of solar-powered solutions in various businesses. Government initiatives, subsidies, and regulations encouraging the use of sustainable energy technology have encouraged businesses and consumers to invest in solar freezer systems. Furthermore, North America's vast and frequently distant landscapes, where the typical electrical connection may be limited, create a great demand for dependable off-grid cold storage options.

Europe is leading the worldwide shift toward sustainability and sustainable energy. The European Union (EU) and its member states have set lofty goals for reducing greenhouse gas emissions and increasing the proportion of renewable energy sources in their energy mix. With 7.9 GW of newly installed Capacity in 2022, Germany will be Europe's largest solar market, followed by Spain (7.5 GW), Poland (4.9 GW), the Netherlands (4.0 GW), and France (2.7 GW). The European Commission launched its European Green Deal in 2020, a plan to make Europe carbon-neutral by 2050. This campaign promotes the importance of renewable energy and sustainability, consistent with the region's use of solar freezers. The region's commitment to sustainability and renewable energy drives the market, making solar freezers a beneficial solution for various applications, including those in remote and hard areas.

The LAMEA (Latin America, Middle East, and Africa) area increasingly demands off-grid and sustainable refrigeration solutions. The region's diverse climate, off-grid areas, and healthcare demands fueled the development of solar-powered freezers.

Report Scope

Report Metric Details
Segmentations
By Type
  1. Solar-Battery Based
  2. Solar-Direct Drive
By Capacity
  1. Less than 250 ltrs
  2. 250-500 ltrs
  3. More than 500 ltrs
By End-Use
  1. Medical
    1. Hospitals
    2. Pharmacies and Vaccines
    3. Blood Banks
    4. Others
  2. Household
  3. Infrastructure
  4. Commercial
  5. Other End-Uses
Company Profiles SURECHILL VESTFROST SOLUTIONS Dometic ECOSOLARCOOL STECH ELEKTRONIK UNIQUE APPLIANCES Connexa Energy Kyocera B Medical Systems DULAS SUNDANZER.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global solar freezer market is segmented based on type, Capacity, end-user, and region.

The market is further segmented by type into Solar-Battery Based and Solar-Direct Drive.

Solar-Battery Based occupies the largest share of the market. Solar-battery freezers include both solar panels and battery storage devices. Solar panels generate sunshine into electricity, which powers the freezer's compressor and cooling system. Excess energy is stored in batteries for usage during low-light periods. The solar battery-based segment had the biggest market share and is expected to continue to dominate the market over the projection period. Solar battery-powered freezers are in high demand for a variety of applications. They store solar energy in batteries and use it after daybreak. They are more effective and efficient.

Solar-direct drive freezers are intended to run completely in direct sunshine. They do not have battery storage and are powered solely by solar panels. When there is sunlight, the freezer's cooling system operates; when there is no sunlight, the freezer is dormant.

Based on Capacity, the market is sub-segmented into Less than 250 ltrs, 250-500 ltrs, and More than 500 ltrs.

250-500 ltrs accounts for the maximum share of the market. Solar freezers ranging from 250 to 500 liters are medium-sized and provide greater storage space than smaller models. These freezers are adaptable and can be used for a variety of purposes. They are widely used to store more products in healthcare institutions, larger businesses, restaurants, and small-scale agricultural settings.

Solar freezers with more than 500 liters capacities are considered large and provide enough storage space for significant refrigeration needs.

By end-user, the segment can be further bifurcated into Medical (hospitals, pharmacies, vaccines, blood banks), Household, Infrastructure, and Commercial.

The medical segment is the major end-user of the market. Solar freezers are used in medical institutions such as hospitals, pharmacies, vaccine storage centers, and blood banks to store temperature-sensitive medical supplies safely. Solar freezers are essential for storing vaccines, pharmaceuticals, blood products, and other healthcare goods in medical settings. They are intended to maintain precise temperature conditions, particularly in distant or underserved places with limited access to stable electricity. Hospitals and blood banks are expected to dominate the market during the projection period. A blood bank is not required on a seasonal basis, and practically every healthcare facility has one. Hospitals use cold storage to keep important pharmaceuticals. The adoption of cutting-edge technology is increasing the penetration of solar freezers into various applications. These freezers are more portable and dependable. This enhances the product's demand and adoption in such applications.

Solar freezers are utilized in households for personal and family purposes, particularly in off-grid or isolated places where grid electricity is unstable or unavailable. Solar freezers are used in residential settings to store perishable food products, provide an ice supply, and improve living standards. Solar freezers are useful for households in areas with inconsistent electricity supply or no access to the grid.

Market Size By Type

Recent Developments

  • September 2023- Kyocera introduced a new 230V silicon nitride (SN) igniter standard line for industrial and residential gas furnaces, boilers, and gas stoves.
  • August 2023- B Medical Systems has long been committed to developing more sustainable medical cold chain devices. This resulted in the development of its Solar Direct Drive Refrigerators and Freezers line, as well as the usage of natural refrigerants in its portfolio goods. Furthermore, the corporation expanded its efforts to reduce environmental impact by improving operations and procuring recyclable materials.

Top Key Players

Solar Freezer Market Share of Key Players

SURECHILL VESTFROST SOLUTIONS Dometic ECOSOLARCOOL STECH ELEKTRONIK UNIQUE APPLIANCES Connexa Energy Kyocera B Medical Systems DULAS SUNDANZER.

Frequently Asked Questions (FAQs)

What is the size of global solar freezer market?
The global solar freezer market size was valued at USD 22.47 billion in 2022.
The global market is growing at a CAGR of 9.6% from (2023–2031).
The global market size is projected to reach USD 51.27 billion by 2031.
Solar-Battery sector is expected to dominate over the forecast period.
Rural Electrification and Energy Access, Growing Environmental Consciousness are some key drivers supporting the growth of the global market.


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