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The search for materials with large caloric effects has become a major challenge in material science due to their potential in developing near room‐temperature solid‐state cooling devices, which are both efficient and clean, and that can successfully replace present refrigeration technologies. There are three main families of caloric materials: magnetocaloric, electrocaloric, and mechanocaloric. While magnetocaloric and electrocaloric materials have been studied intensively in the last few decades, mechanocaloric materials are only very recently receiving a great deal of attention. The mechanocaloric effect refers to the reversible thermal response of a solid when subjected to an external mechanical field, and encompasses both the elastocaloric effect, corresponding to a uniaxial force, and the barocaloric effect, which corresponds to the response to hydrostatic pressure. Here, the state of the art in giant …