Micro Thermoelectric Modules Market - Segmented by Application and Geography - Growth, Trends, and Forecast (2019 - 2024)

Micro Thermoelectric Modules Market - Segmented by Application and Geography - Growth, Trends, and Forecast (2019 - 2024)

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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.

Major Players: Ferrotec Corporation, KELK Ltd (Subsidiary of Komatsu Ltd.), Kryotherm, Laird Technologies, II-VI Marlow, Micropelt GmbH, RMT ltd, TEC Micro Systems, Yamaha Corporation, among others.

Reasons to Purchase this Report

  • Current and future micro thermoelectric modules market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  •  Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

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1. Executive Summary                          

2. Research Methodology                    

3. Market Overview                 

               3.1 Introduction         

               3.2 Technology Overview     

               3.3 Market Size and Demand Forecast until 2023 (in USD billion)            

               3.4 Recent Trends and Developments          

4. Market Dynamics                 

               4.1 Drivers      

               4.2 Restraints

               4.3 Opportunities      

5. Value-Chain Analysis                        

6. Porter’s Five Forces Analysis                      

               6.1 Bargaining Power of Suppliers  

               6.2 Bargaining Power of Consumers             

               6.3 Threat of New Entrants 

               6.4 Threat of Substitute Products & Services          

               6.5 Intensity of Competitive Rivalry             

7. Market Segmentation and Analysis (Market Overview, Market Size, and Demand Forecast until 2023)               

               7.1 By Application     

                              7.1.1 Energy Harvesters

                              7.1.2 Detectors and Sensors

8. Regional Market Analysis (Market Overview, Market Size, and Demand Forecast until 2023)                    

               8.1 North America     

               8.2 Europe      

               8.3 Asia-Pacific           

               8.4 Rest of the World

9. Key Company Profiles* (Business Overview, Products & Services, Financials**, Recent Developments and Analyst View)                 

               9.1 AMS technologies             

               9.2 EVERREDtronics Ltd.      

               9.3 Ferrotec Corporation      

               9.4 Gentherm Global Power Technologies 

               9.5 KELK Ltd (Subsidiary of Komatsu Ltd.)             

               9.6 Kryotherm             

               9.7 Laird Technologies          

               9.8 II-VI Marlow         

               9.9 Micropelt GmbH 

               9.10 RMT ltd  

               9.11 TEC Micro Systems        

               9.12 Tellurex Corporation    

               9.13 TE Technology Inc.,       

               9.14 Thermion Company      

               9.15 Yamaha Corporation    

10. Competitive Landscape                

               10.1 Mergers & Acquisitions             

               10.2 Joint Ventures, Collaborations and Agreements        

               10.3 Market Share Analysis 

               10.4 Strategies Adopted by Key Players     

11. Disclaimer                            

*(List not Exhaustive)                          

**(Subject to Availability on Public Domain)                         

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