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Solar-Powered Cold Storage Market By Type (Photovoltaic Operated Refrigeration Cycle, Solar Mechanical Refrigeration, Absorption Refrigeration) By End-user (Horticulture/Floriculture Industry, Plastics and Chemical Industry, Pharmaceutical Industry, Others)-Growth, Future Prospects & Competitive Analysis, 2016 – 2030

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Published: | Report ID: 19736 | Report Format : PDF

Key Highlights of the Report

The global solar-powered cold storage market is segmented by type, end user, and region. The photovoltaic operated refrigeration cycle segment is the most popular type segment. The horticulture/floriculture industry is the end-user segment, with Europe leading the market growth.

The global solar-powered cold storage market has been driven by several factors, such as increasing government support and favorable policies promoting renewable energy and reducing carbon emissions & declining costs of solar panels, and advancements in energy storage technologies. However, the market faces some challenges also, including the high upfront cost of installing solar-powered systems, including solar panels and energy storage.

Nonetheless, the global solar-powered cold storage market offers significant growth opportunities, such as rising global demand for sustainable and eco-friendly solutions & advancements in solar technology, such as increased efficiency of solar panels and improvements in energy storage.

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Market Overview

The global solar-powered cold storage market has witnessed steady growth in recent years and is expected to grow at a CAGR of 13.50% between 2023 and 2030. The market was valued at USD 105.9 billion in 2022 and is expected to reach USD 256.96 billion in 2030.

What Are the Main Drivers Of The Global solar-powered cold Storage Market?

The global solar-powered cold storage market is driven by several factors, such as growing demand for efficient and sustainable cold storage solutions, especially in the food and pharmaceutical industries & increasing government support, and favorable policies.

What Are the Major Challenges Faced by The Global solar-powered cold Storage Market?

The global solar-powered cold storage market also faces several challenges, such as the high upfront cost of installing solar-powered systems, including solar panels and energy storage & intermittency of solar power generation.

What Are the Growth Opportunities in The Global solar-powered cold storage market?

The global solar-powered cold storage market offers significant growth opportunities, such as growing global demand for sustainable and eco-friendly solutions & advancements in solar technology, such as increased efficiency of solar panels and improvements in energy storage.

Executive Summary

Overview of the Global solar-powered cold storage market

The global solar-powered cold storage market has been steadily growing in recent years due to some initiatives taken by the government and growing demand for efficient and sustainable cold storage solutions, especially in the food and pharmaceutical industries.

Market Definition

The global solar-powered cold storage market refers to the industry encompassing the production, installation, and operation of cold storage facilities that utilize solar energy as the primary source of power. These facilities employ solar panels to convert sunlight into electricity, which is used to power refrigeration systems and maintain the required low temperatures for preserving perishable goods, such as food and pharmaceutical products. The market focuses on providing sustainable and energy-efficient cold storage solutions, reducing carbon emissions and dependence on traditional power sources. It involves the integration of solar technologies, energy storage systems, and efficient insulation techniques to ensure reliable and environmentally friendly cold storage operations on a global scale.

Market Insights

  • The global demand for solar-powered cold storage was valued at USD 105.9 Billion in 2022 and is expected to reach USD 256.96 Billion in 2030, growing at a CAGR of 13.50% between 2023 and 2030.
  • photovoltaic operated refrigeration cycle is the leading type base segment and held more than three-firth of the share in terms of value in 2022.
  • The horticulture/floriculture industry is the leading end user-based segment expected to post the highest CAGR during the forecast period & leading the market share with more than one-third share in 2022.
  • The pharmaceutical industry end-user segment is likely to exhibit the fastest CAGR during the forecast period.
  • Europe is fueling the growth of the solar-powered cold storage industry with nearly two-thirds share in 2022, while Asia-pacific and North America collectively accounted for just nearly under 55% share in 2022. Asia-pacific held more than half of the share in 2022.
  • The major driver that drives the market is the rising need for specialty chemicals and the expansion of end-use industries in emerging economies, and the increasing focus on increasing research and development activities.
  • At the same time, the availability and cost of raw materials such as methanol and acetic acid impact the overall cost of production and limit the market growth are the main restraints.
  • Intense competition from existing players and alternative compounds with similar properties & stringent regulations and compliance requirements as the major opportunities in the market.

Segmentation by Type

  • Photovolatic operated refrigeration cycle type is the leading segment and holds more than three-firth of the share in terms of value.
  • The solar mechanical refrigeration segment contributes to the rest of the demand for the solar-powered cold storage market.

Segmentation by End-userUser

  • The horticulture/floriculture Industry segment governs the demand for the solar-powered cold storage industry globally, holding more than one-third share in 2022
  • The pharmaceutical industry will likely exhibit the fastest CAGR during the forecast period.

Segmentation by Region

  • Europe was fueling the growth of the solar-powered cold storage industry with a nearly two-thirds share in 2022.
  • North America and Asia Pacific collectively account for nearly under 55% share in 2022, with Asia-pacific holding more than half of the share in 2022.
  • The rest of the world, including Latin America, The Middle East, and Africa, contributes the remainder to the demand for solar-powered cold storage.

The US has a growing demand for sustainable and environmentally friendly solutions across various industries, including food, pharmaceuticals, and agriculture. Solar-powered cold storage aligns with these sustainability goals by reducing carbon emissions and reliance on traditional energy sources. The US government has been actively promoting renewable energy through policies and incentives. Federal and state-level initiatives, such as tax credits, grants, and rebates, encourage businesses to adopt solar-powered systems, including cold storage facilities. These incentives make the initial investment more affordable and attractive for companies.

The UK has abundant solar resources, despite its reputation for cloudy weather. Technological advancements in solar panels, such as improved efficiency and increased capacity to generate power even in low light conditions, have made solar energy a viable and reliable option for cold storage facilities. The UK government has set ambitious renewable energy targets, including the commitment to reach net-zero carbon emissions by 2050. As a result, there is strong support and favorable policies in place to encourage the adoption of renewable energy technologies, including solar power.

Moreover, it has a significant focus on sustainable and eco-friendly practices, driven by consumer demand and corporate social responsibility initiatives. Solar-powered cold storage aligns with these sustainability goals by reducing carbon emissions and promoting energy efficiency.

Solar-Powered Cold Storage Market

Environmental sustainability and carbon reduction goals

Industries globally are actively seeking sustainable solutions to reduce their carbon footprint and align with environmental goals. Solar-powered cold storage offers a clean and renewable energy solution, minimizing reliance on fossil fuels and reducing greenhouse gas emissions. An example of this driver is the partnership between Tesla and Anheuser-Busch, one of the largest beer producers in the US. Tesla installed a solar-powered cold storage facility at Anheuser-Busch’s distribution center in California, helping the company achieve its sustainability targets by utilizing renewable energy for its cold storage operations.

Furthermore, governments and regulatory bodies worldwide are implementing stringent environmental regulations to reduce carbon emissions and promote sustainable practices. By adopting solar-powered cold storage, companies can comply with these regulations and avoid penalties. In some cases, governments offer incentives and rewards for companies that implement renewable energy solutions, further driving the adoption of solar-powered cold storage.

Cost savings and energy efficiency

Solar-powered cold storage systems offer significant long-term cost savings through reduced electricity bills. As solar panel costs continue to decline, the return on investment for solar installations becomes more attractive. Additionally, energy-efficient equipment, such as LED lighting and advanced insulation, further optimize energy usage within the cold storage facility. An example of this driver is the solar-powered cold storage facility built by Americold in Cleburne, Texas. By utilizing solar energy, the company has reduced its electricity costs and improved operational efficiency, resulting in substantial savings over time.

Additionally, governments, utilities, and financial institutions often offer incentives, grants, rebates, and financing options to encourage the adoption of solar energy. These incentives can significantly reduce the upfront costs of installing solar-powered cold storage systems, making them more affordable for businesses. For example, tax credits, such as the Investment Tax Credit (ITC) in the US, provide a percentage-based reduction in federal taxes for qualifying solar energy installations.

Initial investment and development cost

The huge initial investment cost associated with the solar-powered cold storage industry is one of the main restraints. While solar-powered systems offer long-term cost savings, the upfront expenses for installing solar panels, energy storage systems, and other necessary equipment can be substantial. This can pose a financial challenge, particularly for small and medium-sized businesses with limited capital.

For instance, a grocery store chain interested in implementing a solar-powered cold storage facility may face significant upfront costs for purchasing and installing solar panels, energy storage systems, and refrigeration equipment. This initial investment could deter some businesses from adopting solar-powered solutions, especially if they have budget constraints or alternative options available.

Demand For Sustainable and Resilient Cold Storage Solutions

The rising demand for sustainable and resilient cold storage solutions in off-grid or remote areas is one of the leading opportunities solar-powered cold storage industries. Many regions around the world, including developing countries or areas with limited access to reliable grid power, face challenges in preserving perishable goods due to inadequate cold storage infrastructure. For instance, in rural areas of India, where access to electricity is limited, solar-powered cold storage units have been installed to help farmers preserve their agricultural produce. These units, powered by solar energy, ensure the freshness and quality of the harvested crops, reducing post-harvest losses and enhancing the income of farmers.

Additionally, solar-powered cold storage offers a unique opportunity to address this issue by providing sustainable and decentralized solutions. By utilizing solar panels and energy storage systems, off-grid or remote communities can establish independent cold storage facilities without relying on traditional power sources.

Competitive Landscape

Key Players

The global solar-powered cold storage market is highly competitive, with the presence of several key players. Some of the major players in the market and their market share are as follows:

  • Ecozen Solution
  • ColdHubs
  • Unitech Engineering Solutions
  • Covestro AG
  • Bharat Solar Energy
  • Solar Freeze
  • Aldelano Solar Solutoions
  • Mech Air Industries
  • Ice Make Refrigeration Limited
  • Inspira Farms
  • Contained Energy
  • Ahata Industries
  • Dgird Energy

These companies focus on product innovation, expanding their end user, mergers, and acquisitions to stay ahead in the market.

The major players in the global solar-powered cold storage market constantly strive to stay ahead by introducing new products and innovations.

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Summary of Key Findings

  • Rising demand for efficient and sustainable cold storage solutions, especially in the food and pharmaceutical industries & increasing government support and favorable policies driving market growth
  • Market segmented by type, end user, and region.
  • Photovoltaic operated refrigeration cycle is the most popular type segment, with solar mechanical refrigeration type as the primary type segment.
  • The horticulture/floriculture Industry segment governs the demand for the solar-powered cold storage industry.
  • Europe is leading market growth; the market is highly competitive with key players including Ecozen Solution, ColdHubs, Unitech Engineering Solutions, Covestro AG, Bharat Solar Energy, Solar Freeze & Others.

Future Outlook

  • Positive outlook for the global solar-powered cold storage market with significant growth potential in the Europe region
  • Government support and favorable policies promoting renewable energy and reducing carbon emissions & declining costs of solar panels and advancements in energy storage technologies that drive growth
  • Challenges such as intermittency of solar power generation, particularly in regions with unpredictable weather patterns, require effective energy storage solutions.

Segmentation

  • By Type
    • Photovoltaic Operated Refrigeration Cycle
    • Solar Mechanical Refrigeration
    • Absorption Refrigeration
  • By End-user
    • Horticulture/Floriculture Industry
    • Plastics and Chemical Industry
    • Pharmaceutical Industry
    • Others
  • By Region
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • The U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Data Modelling
1.3.2.1. Company Share Analysis Model
1.3.2.2. Revenue Based Modelling
1.3.3. Phase III – Primary Research
1.3.4. Research Limitations
1.3.5. Assumptions
1.4. Market Introduction
1.5. Market Research Scope

2. Executive Summary
2.1. Market Snapshot: Global Solar powered cold storage Market
2.2. Global Solar powered cold storage Market, By Type
2.3. Global Solar powered cold storage Market, By End User
2.4. Global Solar powered cold storage Market, By Region

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Solar powered cold storage Market Value, 2017-2030, (US$ Bn)
3.1.2. Y-o-Y Growth Trend Analysis
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.2.3. Market Opportunities
3.2.4. Major Industry Challenges
3.3. Growth and Development Patterns
3.4. Investment Feasibility Analysis
3.5. Market Opportunity Analysis
3.5.1. Type
3.5.2. End User
3.5.3. Geography

4. Premium Insights
4.1. STAR (Situation, Task, Action, Results) Analysis
4.2. Porter’s Five Forces Analysis
4.2.1. Threat of New Entrants
4.2.2. Bargaining Power of Buyers/Consumers
4.2.3. Bargaining Power of Suppliers
4.2.4. Threat of Substitute Types
4.2.5. Intensity of Competitive Rivalry
4.3. Key Market Trends
4.3.1. Demand Side Trends
4.3.2. Supply Side Trends
4.4. Value Chain Analysis
4.5. Technology Analysis
4.6. Analysis and Recommendations
4.7. Marketing Strategy Analysis
4.7.1. Direct Marketing
4.7.2. Indirect Marketing
4.7.3. Marketing Channel Development Trend

5. Market Positioning of Key Players, 2022
5.1. Company market share of key players, 2022
5.2. Competitive Benchmarking
5.3. Market Positioning of Key Vendors
5.4. Geographical Presence Analysis
5.5. Major Strategies Adopted by Key Players
5.5.1. Key Strategies Analysis
5.5.2. Mergers and Acquisitions
5.5.3. Partnership
5.5.4. Product Launch
5.5.5. Geographical Expansion
5.5.6. Others

6. Economic Impact Analysis
6.1. Recession Impact
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East and Africa
6.2. Ukraine-Russia War Impact
6.2.1. North America
6.2.2. Europe
6.2.3. Asia Pacific
6.2.4. Latin America
6.2.5. Middle East and Africa
6.3. COVID-19 Impact Analysis
6.3.1. North America
6.3.2. Europe
6.3.3. Asia Pacific
6.3.4. Latin America
6.3.5. Middle East and Africa

7. Global Solar powered cold storage Market, By Type
7.1. Global Solar powered cold storage Market Overview, by Type
7.1.1. Global Solar powered cold storage Market Revenue Share, By Type, 2022 Vs 2030 (in %)
7.2. Photovolatic Operated Refrigeration Cycle
7.2.1. Global Solar powered cold storage Market, By Region, 2017-2030 (US$ Bn)
7.3. Solar Mechanical Refrigeration
7.3.1. Global Solar powered cold storage Market, By Region, 2017-2030 (US$ Bn)
7.4. Absorption Refrigeration
7.4.1. Global Solar powered cold storage Market, By Region, 2017-2030 (US$ Bn)

8. Global Solar powered cold storage Market, By End User
8.1. Global Solar powered cold storage Market Overview, by End User
8.1.1. Global Solar powered cold storage Market, By End User, 2022 vs 2030 (in %)
8.2. Horticulture/Floriculture Industry
8.2.1. Global Solar powered cold storage Market, By Region, 2017-2030 (US$ Bn)
8.3. Plastics and chemical Industry
8.3.1. Global Solar powered cold storage Market, By Region, 2017-2030 (US$ Bn)
8.4. Pharmaceutical Industry
8.4.1. Global Solar powered cold storage Market, By Region, 2017-2030 (US$ Bn)
8.5. Other
8.5.1. Global Solar powered cold storage Market, By Region, 2017-2030 (US$ Bn)

9. Global Solar powered cold storage Market, By Region
9.1. Global Solar powered cold storage Market Overview, by Region
9.1.1. Global Solar powered cold storage Market, By Region, 2022 vs 2030 (in%)
9.2. Type
9.2.1. Global Solar powered cold storage Market, By Type, 2017-2030 (US$ Bn)
9.3. End User
9.3.1. Global Solar powered cold storage Market, By End User, 2017-2030 (US$ Bn)

10. North America Solar powered cold storage Market Analysis
10.1. North America Solar powered cold storage Market, by Type, 2017-2030(US$ Bn)
10.1.1. Overview
10.1.2. SRC Analysis
10.2. North America Solar powered cold storage Market, by End User, 2017-2030(US$ Bn)
10.2.1. Overview
10.2.2. SRC Analysis
10.3. North America Solar powered cold storage Market, by Country, 2017-2030 (US$ Bn)
10.3.1. North America Solar powered cold storage Market, by Country, 2022 Vs 2030 (in%)
10.3.2. U.S.
10.3.2.1. U.S. Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
10.3.2.2. U.S. Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
10.3.2.3. U.S. Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
10.3.3. Canada
10.3.3.1. Canada Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
10.3.3.2. Canada Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
10.3.3.3. Canada Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
10.3.4. Mexico
10.3.4.1. Mexico Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
10.3.4.2. Mexico Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
10.3.4.3. Mexico Solar powered cold storage, By End User, 2017-2030 (US$ Bn)

11. Europe Solar powered cold storage Market Analysis
11.1. Europe Solar powered cold storage Market, by Type, 2017-2030(US$ Bn)
11.1.1. Overview
11.1.2. SRC Analysis
11.2. Europe Solar powered cold storage Market, by End User, 2017-2030(US$ Bn)
11.2.1. Overview
11.2.2. SRC Analysis
11.3. Europe Solar powered cold storage Market, by Country, 2017-2030 (US$ Bn)
11.3.1. Europe Solar powered cold storage Market, by Country, 2022 Vs 2030 (in%)
11.3.2. Germany
11.3.2.1. Germany Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
11.3.2.2. Germany Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
11.3.2.3. Germany Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
11.3.3. France
11.3.3.1. France Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
11.3.3.2. France Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
11.3.3.3. France Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
11.3.4. UK
11.3.4.1. UK Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
11.3.4.2. UK Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
11.3.4.3. UK Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
11.3.5. Italy
11.3.5.1. Italy Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
11.3.5.2. Italy Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
11.3.5.3. Italy Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
11.3.6. Spain
11.3.6.1. Spain Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
11.3.6.2. Spain Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
11.3.6.3. Spain Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
11.3.7. Rest of Europe
11.3.7.1. Rest of Europe Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
11.3.7.2. Rest of Europe Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
11.3.7.3. Rest of Europe Solar powered cold storage, By End User, 2017-2030 (US$ Bn)

12. Asia Pacific Solar powered cold storage Market Analysis
12.1. Asia Pacific Solar powered cold storage Market, by Type, 2017-2030(US$ Bn)
12.1.1. Overview
12.1.2. SRC Analysis
12.2. Asia Pacific Solar powered cold storage Market, by End User, 2017-2030(US$ Bn)
12.2.1. Overview
12.2.2. SRC Analysis
12.3. Asia Pacific Solar powered cold storage Market, by Country, 2017-2030 (US$ Bn)
12.3.1. Asia Pacific Solar powered cold storage Market, by Country, 2022 Vs 2030 (in%)
12.3.2. China
12.3.2.1. China Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
12.3.2.2. China Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
12.3.2.3. China Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
12.3.3. Japan
12.3.3.1. Japan Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
12.3.3.2. Japan Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
12.3.3.3. Japan Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
12.3.4. India
12.3.4.1. India Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
12.3.4.2. India Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
12.3.4.3. India Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
12.3.5. South Korea
12.3.5.1. South Korea Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
12.3.5.2. South Korea Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
12.3.5.3. South Korea Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
12.3.6. South-East Asia
12.3.6.1. South-East Asia Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
12.3.6.2. South-East Asia Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
12.3.6.3. South-East Asia Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
12.3.7. Rest of Asia Pacific
12.3.7.1. Rest of Asia Pacific Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
12.3.7.2. Rest of Asia Pacific Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
12.3.7.3. Rest of Asia Pacific Solar powered cold storage, By End User, 2017-2030 (US$ Bn)

13. Latin America Solar powered cold storage Market Analysis
13.1. Latin America Solar powered cold storage Market, by Type, 2017-2030(US$ Bn)
13.1.1. Overview
13.1.2. SRC Analysis
13.2. Latin America Solar powered cold storage Market, by End User, 2017-2030(US$ Bn)
13.2.1. Overview
13.2.2. SRC Analysis
13.3. Latin America Solar powered cold storage Market, by Country, 2017-2030 (US$ Bn)
13.3.1. Latin America Solar powered cold storage Market, by Country, 2022 Vs 2030 (in%)
13.3.2. Brazil
13.3.2.1. Brazil Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
13.3.2.2. Brazil Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
13.3.2.3. Brazil Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
13.3.3. Argentina
13.3.3.1. Argentina Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
13.3.3.2. Argentina Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
13.3.3.3. Argentina Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
13.3.4. Rest of Latin America
13.3.4.1. Rest of Latin America Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
13.3.4.2. Rest of Latin America Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
13.3.4.3. Rest of Latin America Solar powered cold storage, By End User, 2017-2030 (US$ Bn)

14. Middle East and Africa Solar powered cold storage Market Analysis
14.1. Middle East and Africa Solar powered cold storage Market, by Type, 2017-2030(US$ Bn)
14.1.1. Overview
14.1.2. SRC Analysis
14.2. Middle East and Africa Solar powered cold storage Market, by End User, 2017-2030(US$ Bn)
14.2.1. Overview
14.2.2. SRC Analysis
14.3. Middle East and Africa Solar powered cold storage Market, by Country, 2017-2030 (US$ Bn)
14.3.1. Middle East and Africa Solar powered cold storage Market, by Country, 2022 Vs 2030 (in%)
14.3.2. GCC Countries
14.3.2.1. GCC Countries Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
14.3.2.2. GCC Countries Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
14.3.2.3. GCC Countries Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
14.3.3. South Africa
14.3.3.1. South Africa Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
14.3.3.2. South Africa Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
14.3.3.3. South Africa Solar powered cold storage, By End User, 2017-2030 (US$ Bn)
14.3.4. Rest of Middle East and Africa
14.3.4.1. Rest of Middle East and Africa Solar powered cold storage Market Estimates and Forecast, 2017-2030 (US$ Bn)
14.3.4.2. Rest of Middle East and Africa Solar powered cold storage, By Type, 2017-2030 (US$ Bn)
14.3.4.3. Rest of Middle East and Africa Solar powered cold storage, By End User, 2017-2030 (US$ Bn)

15. Company Profiles
15.1. Ecozen Solution
15.1.1. Company Overview
15.1.2. Product /Services Portfolio
15.1.3. Geographical Presence
15.1.4. Financial Summary
15.1.4.1. Market Revenue and Net Profit (2019-2022)
15.1.4.2. Business Segment Revenue Analysis
15.1.4.3. Geographical Revenue Analysis
15.2. ColdHubs
15.3. Unitech Engineering Solutions
15.4. Covestro AG
15.5. Bharat Solar Energy
15.6. Solar Freeze
15.7. Aldelano Solar Solutoions
15.8. Mech Air Industries
15.9. Ice Make Refrigeration Limited
15.10. Inspira Farms
15.11. Contained Energy
15.12. Ahata Industries
15.13. Dgird Energy

List of Figures
FIG. 1 Global Solar powered cold storage Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Solar powered cold storage Market Segmentation
FIG. 4 Global Solar powered cold storage Market, by Type, 2022 (US$ Bn)
FIG. 5 Global Solar powered cold storage Market, by End User, 2022 (US$ Bn)
FIG. 6 Global Solar powered cold storage Market, by Geography, 2022 (US$ Bn)
FIG. 7 Attractive Investment Proposition, by Type, 2022
FIG. 8 Attractive Investment Proposition, by End User, 2022
FIG. 9 Attractive Investment Proposition, by Geography, 2022
FIG. 10 Global Market Share Analysis of Key Solar powered cold storage Market Manufacturers, 2022
FIG. 11 Global Market Positioning of Key Solar powered cold storage Market Manufacturers, 2022
FIG. 12 Global Solar powered cold storage Market Value Contribution, By Type, 2022 & 2030 (Value %)
FIG. 13 Global Solar powered cold storage Market, by Photovolatic Operated Refrigeration Cycle, Value, 2017-2030 (US$ Bn)
FIG. 14 Global Solar powered cold storage Market, by Solar Mechanical Refrigeration, Value, 2017-2030 (US$ Bn)
FIG. 15 Global Solar powered cold storage Market, by Absorption Refrigeration, Value, 2017-2030 (US$ Bn)
FIG. 16 Global Solar powered cold storage Market Value Contribution, By End User, 2022 & 2030 (Value %)
FIG. 17 Global Solar powered cold storage Market, by Horticulture/Floriculture Industry, Value, 2017-2030 (US$ Bn)
FIG. 18 Global Solar powered cold storage Market, by Plastics and chemical Industry, 2017-2030 (US$ Bn)
FIG. 19 Global Solar powered cold storage Market, by Pharmaceutical Industry, 2017-2030 (US$ Bn)
FIG. 20 Global Solar powered cold storage Market, by Other, 2017-2030 (US$ Bn)
FIG. 21 North America Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 22 U.S. Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 23 Canada Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 24 Europe Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 25 Germany Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 26 France Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 27 U.K. Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 28 Italy Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 29 Spain Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 30 Rest of Europe Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 31 Asia Pacific Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 32 China Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 33 Japan Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 34 India Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 35 South Korea Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 36 South-East Asia Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 37 Rest of Asia Pacific Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 38 Latin America Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 39 Brazil Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 40 Mexico Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 41 Rest of Latin America Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 42 Middle East & Africa Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 43 GCC Countries Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 44 South Africa Solar powered cold storage Market, 2017-2030 (US$ Bn)
FIG. 45 Rest of Middle East and Africa Solar powered cold storage Market, 2017-2030 (US$ Bn)

List of Tables
TABLE 1 Market Snapshot: Global Solar powered cold storage Market
TABLE 2 Global Solar powered cold storage Market: Market Drivers Impact Analysis
TABLE 3 Global Solar powered cold storage Market: Market Restraints Impact Analysis
TABLE 4 Global Solar powered cold storage Market, by Competitive Benchmarking, 2022
TABLE 5 Global Solar powered cold storage Market, by Geographical Presence Analysis, 2022
TABLE 6 Global Solar powered cold storage Market, by Key Strategies Analysis, 2022
TABLE 7 Global Solar powered cold storage Market, by Photovolatic Operated Refrigeration Cycle, By Region, 2017-2022 (US$ Bn)
TABLE 8 Global Solar powered cold storage Market, by Photovolatic Operated Refrigeration Cycle, By Region, 2023-2030 (US$ Bn)
TABLE 9 Global Solar powered cold storage Market, by Solar Mechanical Refrigeration, By Region, 2017-2022 (US$ Bn)
TABLE 10 Global Solar powered cold storage Market, by Solar Mechanical Refrigeration, By Region, 2023-2030 (US$ Bn)
TABLE 11 Global Solar powered cold storage Market, by Absorption Refrigeration, By Region, 2017-2022 (US$ Bn)
TABLE 12 Global Solar powered cold storage Market, by Absorption Refrigeration, By Region, 2023-2030 (US$ Bn)
TABLE 13 Global Solar powered cold storage Market, by Horticulture/Floriculture Industry, By Region, 2017-2022 (US$ Bn)
TABLE 14 Global Solar powered cold storage Market, by Horticulture/Floriculture Industry, By Region, 2023-2030 (US$ Bn)
TABLE 15 Global Solar powered cold storage Market, by Plastics and chemical Industry, By Region, 2017-2022 (US$ Bn)
TABLE 16 Global Solar powered cold storage Market, by Plastics and chemical Industry, By Region, 2023-2030 (US$ Bn)
TABLE 17 Global Solar powered cold storage Market, by Pharmaceutical Industry, By Region, 2017-2022 (US$ Bn)
TABLE 18 Global Solar powered cold storage Market, by Pharmaceutical Industry, By Region, 2023-2030 (US$ Bn)
TABLE 19 Global Solar powered cold storage Market, by Other, By Region, 2017-2022 (US$ Bn)
TABLE 20 Global Solar powered cold storage Market, by Other, By Region, 2023-2030 (US$ Bn)
TABLE 21 Global Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 22 Global Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 23 Global Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 24 Global Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 25 Global Solar powered cold storage Market, by Region, 2017-2022 (US$ Bn)
TABLE 26 Global Solar powered cold storage Market, by Region, 2023-2030 (US$ Bn)
TABLE 27 North America Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 28 North America Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 29 North America Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 30 North America Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 31 North America Solar powered cold storage Market, by Country, 2017-2022 (US$ Bn)
TABLE 32 North America Solar powered cold storage Market, by Country, 2023-2030 (US$ Bn)
TABLE 33 United States Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 34 United States Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 35 United States Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 36 United States Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 37 Canada Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 38 Canada Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 39 Canada Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 40 Canada Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 41 Mexico Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 42 Mexico Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 43 Mexico Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 44 Mexico Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 45 Europe Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 46 Europe Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 47 Europe Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 48 Europe Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 49 Europe Solar powered cold storage Market, by Country, 2017-2022 (US$ Bn)
TABLE 50 Europe Solar powered cold storage Market, by Country, 2023-2030 (US$ Bn)
TABLE 51 Germany Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 52 Germany Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 53 Germany Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 54 Germany Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 55 France Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 56 France Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 57 France Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 58 France Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 59 United Kingdom Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 60 United Kingdom Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 61 United Kingdom Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 62 United Kingdom Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 63 Italy Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 64 Italy Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 65 Italy Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 66 Italy Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 67 Spain Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 68 Spain Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 69 Spain Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 70 Spain Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 71 Rest of Europe Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 72 Rest of Europe Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 73 Rest of Europe Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 74 Rest of Europe Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 75 Asia Pacific Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 76 Asia Pacific Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 77 Asia Pacific Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 78 Asia Pacific Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 79 Asia Pacific Solar powered cold storage Market, by Country, 2017-2022 (US$ Bn)
TABLE 80 Asia Pacific Solar powered cold storage Market, by Country, 2023-2030 (US$ Bn)
TABLE 81 China Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 82 China Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 83 China Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 84 China Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 85 Japan Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 86 Japan Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 87 Japan Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 88 Japan Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 89 India Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 90 India Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 91 India Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 92 India Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 93 South Korea Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 94 South Korea Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 95 South Korea Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 96 South Korea Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 97 South-East Asia Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 98 South-East Asia Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 99 South-East Asia Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 100 South-East Asia Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 101 Rest of Asia Pacific Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 102 Rest of Asia Pacific Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 103 Rest of Asia Pacific Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 104 Rest of Asia Pacific Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 105 Latin America Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 106 Latin America Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 107 Latin America Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 108 Latin America Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 109 Latin America Solar powered cold storage Market, by Country, 2017-2022 (US$ Bn)
TABLE 110 Latin America Solar powered cold storage Market, by Country, 2023-2030 (US$ Bn)
TABLE 111 Brazil Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 112 Brazil Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 113 Brazil Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 114 Brazil Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 115 Argentina Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 116 Argentina Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 117 Argentina Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 118 Argentina Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 119 Rest of Latin America Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 120 Rest of Latin America Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 121 Rest of Latin America Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 122 Rest of Latin America Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 123 Middle East and Africa Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 124 Middle East and Africa Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 125 Middle East and Africa Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 126 Middle East and Africa Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 127 Middle East and Africa Solar powered cold storage Market, by Country, 2017-2022 (US$ Bn)
TABLE 128 Middle East and Africa Solar powered cold storage Market, by Country, 2023-2030 (US$ Bn)
TABLE 129 GCC Countries Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 130 GCC Countries Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 131 GCC Countries Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 132 GCC Countries Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 133 South Africa Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 134 South Africa Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 135 South Africa Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 136 South Africa Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)
TABLE 137 Rest of Middle East and Africa Solar powered cold storage Market, by Type, 2017-2022 (US$ Bn)
TABLE 138 Rest of Middle East and Africa Solar powered cold storage Market, by Type, 2023-2030 (US$ Bn)
TABLE 139 Rest of Middle East and Africa Solar powered cold storage Market, by End User, 2017-2022 (US$ Bn)
TABLE 140 Rest of Middle East and Africa Solar powered cold storage Market, by End User, 2023-2030 (US$ Bn)

Frequently Asked Questions:

What is the current size of the global solar-powered cold storage market?

The global solar-powered cold storage market was valued at USD 105.9 Billion in 2022.

What is the expected growth rate of the solar-powered cold storage market between 2023 and 2030?

The solar-powered cold storage market is expected to grow at a CAGR of 13.50% between 2023 and 2030, reaching USD 256.96 Billion in 2030.

Which type segment is leading the market share in terms of Type?

Photovoltaic operated refrigeration cycle is the leading segment by type, holding around more than three-firth of the share in value in 2022.

Which end user governs the demand for solar-powered cold storage in the world?

The horticulture/floriculture industry governs the demand for solar-powered cold storage worldwide, holding a massive share of nearly one-third in 2022.

Which segment is expected to post the highest CAGR during the forecast period?

Pharmaceutical industry segments are expected to post the highest CAGR during the forecast period.

Which region is fueling the growth of the solar-powered cold storage industry?

Europe is fueling the growth of the solar-powered cold storage industry, with nearly a two-thirds share in 2022.

Who are the major players in the global solar-powered cold storage market?

The top players include Ecozen Solution, ColdHubs, Unitech Engineering Solutions, Covestro AG, Bharat Solar Energy, Solar Freeze, & Others.

What is the major market driver of the solar-powered cold storage industry?

Growing demand for efficient and sustainable cold storage solutions, especially in the food and pharmaceutical industries & increasing government support and favorable policies promoting renewable energy and reducing carbon emissions & declining costs of solar panels, and advancements in energy storage technologies are the major market drivers.

What are the major market restraints of the solar-powered cold storage industry?

Initial investment cost for setting up solar-powered cold storage facilities & intermittent nature of solar power generation, dependent on weather conditions lead to result in inconsistent power supply to the cold storage units are still restraints of the solar-powered cold storage industry.

What are the major market opportunities of the solar-powered cold storage industry?

Rising global demand for sustainable and eco-friendly solutions & advancements in solar technology, such as increased efficiency of solar panels and improvements in energy storage, are opportunities for the solar-powered cold storage industry.

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