Due to the growing public interest in environmental issues, the
significance of thermoelectric power generation, a technology of
energy conversion, is being re-realized. This has resulted in the
increasing application of thermoelectric modules across industries.
According to a report published by Transparency Market Research, the
global thermoelectric modules market is projected to surge at a CAGR
of 9.5% between 2015 and 2023. The report is titled “Thermoelectric
Modules Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2023” and is available for sale on the
company’s website.
Based on in-depth analysis, the report has pegged the global
thermoelectric modules market to reach US$829.05 mn by the end of
2023. The market stood at US$364.1 mn in 2014. Thermoelectric modules
are capable of converting waste heat into electrical energy. The
characteristics of thermoelectric modules have further improved with
the advent of the latest technologies. This in turn has significantly
boosted the prospects of thermoelectric power generation worldwide.
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A wide range of thermoelectric modules are available in the market.
However, standard solutions may not cater to varying consumer needs.
Features of a thermoelectric module must be conducive to the related
application; hence, customized thermoelectric modules are more likely
to yield optimal thermal solutions. Therefore, manufacturers around
the world are focusing on producing cost-effective thermoelectric
products for catering to evolving consumer needs. The majority of
these manufacturers have adopted a flexible production process, which
helps them provide quality thermoelectric products.
Based on technology, the global thermoelectric modules market was led
by the single-stage thermoelectric modules. The segment accounted for
approximately 85% of the market in 2014. However, during the forecast
period, the multi-stage thermoelectric modules are expected to report
the fastest CAGR of 11.3%. The increasing demand for multi-stage
thermoelectric modules in low-temperature applications that require
small or medium cool capacity is boosting demand from the segment.
On the basis of type of thermoelectric modules, the bulk
thermoelectric modules dominated the market in 2014, accounting for a
share of 71%. However, the report projects thin film thermoelectric
modules to report growth at the fastest pace during the forecast
period. The increasing application of thin film thermoelectric
modules in consumer electronics
Regionally, Asia Pacific held the largest share in the global
thermoelectric modules market in 2014 at 33%. China and Japan have
emerged as the most lucrative markets for thermoelectric modules in
this region.
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To study the competition prevailing in the market, the report also
profiles companies such as Tellurex Corporation, Ferrotec
Corporation, RMT Ltd., Laird Technologies, Inc., KELK Ltd., TE
Technology, Inc., Marlow Industries, Thermion Company, Green TEG AG,
EVERREDtronics Ltd., Micropelt GmbH, Kryotherm, Hi-Z Technology,
Inc., and Ferrotec Nord Corporation.
About Us :
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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