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Magnetic Refrigeration Market Worth 163.7 Million USD by 2023PUNE, India, July 20, 2017 /PRNewswire/ -- 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", published by MarketsandMarkets™, 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. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 65 Market Data Tables and 55 Figures spread through 156 Pages and in-depth TOC on "Magnetic Refrigeration Market - Global Forecast to 2023" http://www.marketsandmarkets.com/Market-Reports/magnetic-refrigeration-market-243034247.html Early buyers will receive 10% customization on this report 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 domestic use that would be more energy efficient and comparatively quieter than traditional vapor compressor. Market for refrigeration systems expected to grow at a significant rate between 2018 and 2023 The magnetic refrigeration market for refrigeration systems is expected to grow at the highest CAGR between 2018 and 2023 owing to the early launch of refrigeration products because of the less complex system design compared to air conditioning systems and heat pumps. Thus, the players are initially focusing on commercializing products for refrigeration systems, followed by air conditioning systems and heat pumps. Download PDF Brochure : http://www.marketsandmarkets.com/pdfdownload.asp?id=243034247 Europe expected to hold the larest market share in 2018, and APAC expected to witness the highest CAGR during the forecast period Europe is expected to hold the largest share of the magnetic refrigeration market in 2018, and the market in APAC is expected to grow at the highest CAGR between 2018 and 2025. The presence of many magnetic refrigeration companies in Europe helps drive the growth of the market in this region. Also, the governments of European countries are encouraging many research institutes and refrigeration companies to come up with a refrigeration technology that does not cause global warming and ozone depletion. Magnetic refrigeration is one such technology that does not use any refrigerant and is environmentally friendly. Thus, this technology is gaining popularity among players operating in the manufacturing of refrigeration systems, air conditioning systems, and heat pumps. Inquiry Before Buy @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=243034247 The major players involved in the development of the magnetic refrigeration technology are Cooltech Applications (France), Camfridge Ltd (UK), Astronautics Corporation of America (US), Whirlpool Corporation (US), Qingdao Haier Co. Ltd. (China), BASF SE (Germany), Eramet S.A. (France), Samsung Electronics Co., Ltd. (South Korea), Toshiba Corporation (Japan), VACUUMSCHMELZE GMBH & CO. KG (Germany), and Sigma-Aldrich Corporation (US ). Browse Related Reports Industrial Refrigeration Systems Market by Equipment (Compressors, Condensers, Evaporators), Refrigerant Type (Ammonia, CO2, HFCS), Application (Fruits & Vegetables Processing, Beverages, Refrigerated Warehouses), & Geography - Global Forecast to 2022 VRF Systems Market by System Type (Heat Pump and Heat Recovery System), Component (Compressor, Invertor, Electronic Expansion Valve, Synchronous Electronic Motor and Installation services), Application, and Geography - Global Forecast to 2022 Subscribe Reports from Semiconductor Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. 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