2018 Thermoelectric Modules Market Will Grow and Hit XX% CAGR By 2023 and Stand Out as the Biggest Contributor to global Market
Thermoelectric Modules Market research report (2018 – 2023) studies market insights, List of major Key players, buyers, threats of new entrants and substitute products. Also, Thermoelectric Modules market includes the various market dynamics like Drivers, Restraints, and Opportunities globally. The research report involved the various affecting factors like market growth, market share, competitive intelligence and growth opportunity.
“Thermoelectric Modules Market report is expected to register a CAGR of XX% over a five years forecast period.”
List of Major Key players operating in the Global Thermoelectric Modules Market are –
- Ferrotec Corporation
- KELK Ltd (Subsidiary of Komatsu Ltd.)
- Laird Technologies
- II-VI Marlow
- Micropelt GmbH
- RMT ltd
- TEC Micro Systems
- Yamaha Corporation
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In today’s world the systems manufactured are increasingly becoming smarter and the size of the devices, smaller and modular. In order to power such devices, the power required is also on the scale of micro and millivolts. Micro-thermoelectric modules are devices that have semiconductor element dimensions of less than 1.0 mm square, which allow more number of thermocouples for a given size module. These modules hold various advantages. A thermoelectric module works electrically without any moving parts, so they are virtually maintenance free and flexibility in shape. One of the unique properties of Micro thermoelectric modules is a possibility to convert heat into electricity starting from almost zero temperature difference. Additionally, technological advancements resulted in product miniaturization and gave rise to a multitude of micro devices such as microprocessors, micro sensors, microcontrollers, and micro instruments. Thermoelectric technology can be used to solve thermal problems in microelectronic circuits by catering unattended & continuous power requirements, and backup power on manned platforms for critical communications & emergency shutdown systems.
Lack of Drive for Commercialization of Thermoelectrics is Restraining Market Growth
The primary factors that hinder the growth of the thermoelectric modules market are their high cost and low efficiency. The market still has to overcome the inefficiency hurdle on a commercial scale to make the thermoelectric materials an attractive proposition. The discovery and development of thermoelectric materials are becoming more and more crucial for future energy challenges. Energy conversion processes can be done with almost negligible greenhouse gas emissions with the help of thermoelectric devices. However, there has not been sufficient drive to commercialize the thermoelectric products, owing to the lack of supplies from the thermoelectric materials side. Manufacturers of the thermoelectric modules are exposed to a shortage in the technological needs, which results in restricting its market growth of thermoelectric solutions in the industrial landscape. Deploying novel thermoelectric materials in the production processes with the policy support of the governments can allow the thermoelectric device manufacturers to engage with the thermoelectric business and paving the way to their commercialization. These modules find primary application across industries, such as in Optoelectronics and telecom industries. Thermoelectric modules have the potential to see a broad application in waste heat recovery (Energy harvesting).
Asia-Pacific is Expected to Witness Fastest Growth
In 2016, among all the regions, Asia-Pacific accounted for the most significant share of the global micro thermoelectric modules market. The growth of Asia-Pacific can be attributed to the performance of burgeoning economies of India and China. The low cost of production owing to the low labor cost, and growing demand for thermoelectric modules in various applications are some of the factors for the rise in demand in the Asia Pacific. On the other hand, nascent industrial automation and lack of proper technological awareness are some of the factors constraining the market for micro thermoelectric devices in the region. China is the most prominent market for micro thermoelectric devices; it is followed by Japan and India respectively. This region is projected to dominate the global micro thermoelectric modules market over the forecast period.
The major players include – Ferrotec Corporation, KELK Ltd (Subsidiary of Komatsu Ltd.), Kryotherm, Laird Technologies, II-VI Marlow, amongst others.
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Global Thermoelectric Modules Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2018-2023):
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
- Asia Pacific (China, Japan, India, Southeast Asia and Australia)
- Latin America (Brazil, Argentina and Colombia)
- The Middle East and Africa
Key Questions Answered About Thermoelectric Modules Market:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the Thermoelectric Modules market for selective countries?
- Which region or sub-segment is selected is expected to drive the market in the forecast period?
- What factors are estimated to drive and restrain the market growth?
- What are the key technological and Thermoelectric Modules market trends shaping the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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Reasons to Purchase Thermoelectric Modules Market Report:
- The report analyses how stringent emission control norms will drive the global Thermoelectric Modules market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Thermoelectric Modules market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
Scope of the Report:
The report analyses Thermoelectric Modules market, which includes –
- Analysis of the growth of Thermoelectric Modules market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Thermoelectric Modules market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Thermoelectric Modules market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Thermoelectric Modules market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
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