Solar-powered Vaccine Refrigerator Market Sales, Share, Growth and Forecast 2027
Several regions across the globe do not have access to grid electricity. This has become a serious challenge that poses an equally serious threat for the continuation of the vaccine cold chain. Prominent traditional alternatives to the electrically powered vaccine refrigerators such as gas driven refrigerators, kerosene driven refrigerators and others have been plagued by the issues related to the interruptions of gas supply. These alternatives are also hampered due to lower efficiencies, frequent needs for maintenance, and lack of proper temperature control. Currently, there are no gas driven or kerosene driven refrigerators that comply with the minimum quality standards provided by the World Health Organization. They also barely qualify for the performance, quality, and safety system provided by the WHO.
Key Drivers of Global Solar-powered Vaccine Refrigerator Market
- Use of solar-based refrigeration for vaccine storage is a major breakthrough in the global health care industry. It is useful for remote areas, where electricity is not available in sufficient amounts. The global health care industry has witnessed rapid growth in the recent years. Growing elderly population worldwide, high prevalence of chronic diseases, and advancements in innovative digital technologies are some of the major factors driving the global health care industry.
- Electricity rates are inherently volatile. They fluctuate seasonally, monthly, and annually. Over the last decade, electricity prices had risen enormously and they are poised to increase even more during the forecast period. This, in turn, is projected to augment the demand for use of the solar technology for storage of vaccines in the near future.
- There exists high demand for exploration of sustainable and clean sources for energy, as the world tries to limit emissions and targets to reach net zero carbon emissions
- Government support in the form of favorable initiatives has driven usage of the solar technology over the last few years. This is estimated to be a major factor driving the global solar-powered vaccine refrigerator market during the forecast period. For instance, the Solar Energy Corporation of India (SECI) has passed a tender, wherein the government would be offering 30% subsidy to the social sector, the residential sector, private and not-for-profit organizations in the field of education, and health care institutions. This tender is a part of an initiative by the Ministry of New and Renewable Energy (MNRE) for achieving the target of 40 Gigawatts of rooftop solar power generation by the end of 2022.
Restraints of Solar-powered Vaccine Refrigerator Market
- A majority of countries receive enough sunlight to justify the consideration of solar-powered vaccine refrigeration. However, several countries also have microclimates, with limited sunlight availability throughout the year. For example, Colombia receives solar light sufficient for solar-powered vaccine refrigeration, yet a few coastal areas have microclimates, with prolonged cloud cover for the entire day. Thus, in cloudy areas of the country, choice of using the solar technology is limited and implementation of the technology requires careful design such as increased array size.
- The other issue faced with solar-powered vaccine refrigeration systems is long-term stability, as a majority of these systems require battery storage systems. Also, battery-based solar systems incur high initial capital investments. However, with proper maintenance, returns are high, as the recurrent costs are limited only to periodic replacement of batteries.
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Key Players Operating in Global Market
Some of the key players operating in the global solar-powered vaccine refrigerator market are:
- Dulas Ltd.
- RuthurEnergy Limited
- Sure Chill
- Godrej Appliances
- Renaissance Energy Systems
- Meditech Technologies India Private Limited
- Haier
- Vestfrost Solutions
- QINGDAO HERALD CRYOGENIC TECHNOLOGY CO., LTD
- ACMAS Technologies (P) Ltd
- KYOCERA Corporation
- Sundanzer
- Neumann & Miller
- Qingdao Amed Commercial Refrigeration Equipment Co., Ltd
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