Magnetic refrigeration market seen hitting $2.45 billion by 2030

The Business Research Company says the magnetic refrigeration market is expanding quickly as regulators, manufacturers and cooling users look for lower-emission alternatives to traditional refrigerants. The report points to Europe as the current leader and Asia-Pacific as the fastest-growing region through 2030.

Why it matters: - Magnetic refrigeration could help cut reliance on hydrofluorocarbons and other gas-based refrigerants. - The market’s growth points to rising demand for cooling systems that are more energy-efficient and lower-emission. - Food and beverage, cold chain and data center operators are among the sectors most likely to benefit.

What happened: - The Business Research Company released a market segmentation analysis on the magnetic refrigeration market. - The report estimates the market at $0.72 billion in 2025 and $0.92 billion in 2026. - The report projects the market will reach $2.45 billion by 2030. - The report forecasts a 27.6% CAGR in the historical period and 27.8% CAGR through 2030.

The details: - Magnetic refrigeration uses the magnetocaloric effect, where certain materials heat up in a magnetic field and cool when the field is removed. - The technology uses solid-state refrigerants instead of gas-based refrigerants. - The approach is positioned as quieter and more energy-efficient than conventional cooling systems. - Growth drivers include tighter rules on HFC emissions, environmental concerns, industrial refrigeration demand and cold chain logistics. - The report also cites expansion in commercial refrigeration across the food and beverage sector. - Demand is also linked to sustainable and emission-free cooling, investment in solid-state refrigeration research, data center cooling, green building initiatives and HVAC deployment. - Key trends include solid-state cooling systems using magnetocaloric materials, refrigerant-free refrigeration, compact industrial magnetic refrigeration modules and rare-earth-material cooling systems. - Europe was the largest regional market in 2025. - Asia-Pacific is expected to be the fastest-growing region over the forecast period. - The report also covers South East Asia, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa. - The company published a free sample report at More information. - The full report is available the company's announcement.

Between the lines: - The market pitch is tied to regulatory pressure on refrigerants and broader decarbonization efforts. - The inclusion of market-attractiveness scoring, TAM analysis and forecasting dashboards suggests the report is aimed at investors, suppliers and strategic planners. - European policy support and early adoption appear to be giving the region an initial lead, while industrial growth is pushing Asia-Pacific faster.

What's next: - Adoption will likely depend on continued cost declines in magnetocaloric materials and broader commercialization of solid-state systems. - Further growth should track demand from energy-intensive cooling users, especially data centers and cold chain operators. - Regional regulations and green building standards are likely to shape the pace of adoption through 2030.