7. Elastocalorics
WEF Emerging Technology 2024
As global temperatures rise, the need for cooling solutions is set to soar. Offering higher efficiency and lower energy use, elastocalorics release and absorb heat under mechanical stress, presenting a sustainable alternative to current technologies.
Competitive Environment in Elastocalorics
Companies and universities with conceptually close patents to the technology definition
Countries in technology
(number of active patents in technology in 2024 country by inventor address)
Development of patent publications
(publications per year)
EconSight comment and short analysis
Elastocaloric systems are manifold. The main effect of these systems is the possibility to absorb and release heat in a controlled manner. This can happen through smart materials, but more common is the use of electrical devices and machines. Heat pumps to produce heat, smart HVACs to produce cooling or Heat/Release mechanisms for energy storage, all have a controlled heat absorption/release cycle in common. The search concepts reflect this broad definition and produce many expected players, such as Panasonic, Daikin, Carrier or Bosch in the field of Heat Pumps and HVACs. We can see also various other industry players in this field, such as Volkswagen, Denso or Vitesco, who seem to claim specific cooling solutions in the automotive space. Carrier is particularly notable for actively researching Elastocaloric systems by utilising shape memory alloys (SMA) for cooling and heating purposes, alongside traditional HVAC and cooling systems. Exergyn is an example of a small player entering the field of emission free heat pumps by using elastocaloric shape memory alloys. However, the university sector is surprisingly limited, with only a few active players, including the University of Maryland, KITECH and Fraunhofer.
It should be mentioned at this point that the semantic term ‘elastocaloric’ is rarely used. It may be that a search for general shape memory alloys would lead to different results. On the other hand, we are looking for a rather broad heat storage/release concept. For example, we found Fraunhofer to specify ‘mechanocaloric’ systems instead. While the semantic proximity for the search AI used here is not difficult to find, we can only guess which other patents and players might be active in the field of modern heat pumps or smart HVACs.