Thermoelectric Modules Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Model ; By Type ; By End Use ; By Region

Description

Global Thermoelectric Modules Market Size Booming to Touch USD 1.13 Billion by 2029.

Global thermoelectric modules market is flourishing because of an increasing need for precise temperature control in electronics and medical devices, and a growing focus on generating energy from renewable sources.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global thermoelectric modules market size at USD 685 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global thermoelectric modules market size to grow at a significant CAGR of 8.95% reaching a value of USD 1,126 million by 2029. Major growth drivers for the global thermoelectric modules market include an increasing utilization of thermoelectric modules in electronic devices and the expanding integration of these modules in electric and high-end automobile applications. Thermoelectric modules offer energy-efficient cooling and heating solutions, which align with the increasing focus on sustainability and energy conservation. As industries and consumers seek greener alternatives, the demand for thermoelectric modules has surged. Also, the rapid adoption of technological advancements in electronic devices, such as smartphones, wearable devices, and IoT-enabled gadgets, has spurred the demand for thermoelectric modules. These modules provide effective cooling solutions for electronics, ensuring optimal performance and reliability. These aspects are expected to drive the expansion of the overall market growth during the forecast period. However, high cost of thermoelectric modules compared to conventional cooling or heating systems and limited efficiency and power output of current thermoelectric technologies are anticipated to restrain the overall market growth during the period in analysis.

Global Thermoelectric Modules Market - Overview:

The global thermoelectric modules market refers to the industry involved in the production and supply of packaging solutions specifically designed for temperature-sensitive products during transportation and storage. These packaging solutions are essential for maintaining the integrity, quality, and safety of perishable goods, such as food, pharmaceuticals, and biotechnology products, by controlling and preserving their temperature within a specified range. The market encompasses a range of packaging types, including insulated shippers, containers, refrigerants, and temperature-controlled packaging systems. It serves various sectors, including food and beverages, pharmaceuticals and healthcare, chemicals, and others. The market's growth is driven by factors, such as increasing globalization of trade, expanding pharmaceutical and healthcare sectors, growing demand for convenience foods, and stricter regulations regarding product safety and quality.

Impact of COVID-19 on Global Thermoelectric Modules Market:

COVID-19 pandemic had a dual impact on the global thermoelectric modules market. Initially, the global thermoelectric modules market was affected due to supply chain disruptions, manufacturing shutdowns, and reduced demand across industries. The automotive and electronics sectors, major consumers of thermoelectric modules, were particularly affected. However, the pandemic also created new opportunities as the need for accurate temperature control in healthcare devices and equipment increased. The demand for thermoelectric modules in medical applications, such as vaccine storage and diagnostic equipment, surged. As the global economy recovers in the post pandemic era, the growth in the global thermoelectric modules market is expected to rebound, driven by an increasing demand for energy-efficient solutions and advancements in major end-use sectors, including automotive and electronics.

Global Thermoelectric Modules Market - By End Use:

Based on end use, the global thermoelectric modules market is segmented into Aerospace & Defense, Automotive, Consumer Electronics, Healthcare, and Energy & Utilities segments. The consumer electronics segment dominates the global thermoelectric modules market. There is a rising demand for smart devices, wearable technology, and portable electronics, which require efficient temperature management for optimal performance. Thermoelectric modules offer precise cooling and heating capabilities, ensuring the smooth operation of these devices. The growing adoption of thermoelectric modules in refrigeration systems for food storage and beverage cooling further drives the growth of the consumer electronics segment. Also, the increasing focus on energy efficiency and sustainable solutions in consumer electronics contributes to the preference for thermoelectric modules, solidifying their position as the largest segment in the global thermoelectric modules market by end use.

Competitive Landscape:

Major players operating in the global thermoelectric modules market include: Ferrotec Corporation, Laird Thermal Systems, II-VI Incorporated, TE Technology, RMT Ltd., KELK Ltd., Crystal Ltd, Kryotherm, Phononic, TEC Microsystems GmbH, Guangdong Fuxin Technology Co., Ltd, Hi-Z Technology, Inc., EVERREDtronics Ltd, Thermonamic Electronics (Jiangxi) Corp., and Alphabet Energy Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Thermoelectric Modules Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Thermoelectric Modules Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23572

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Thermoelectric Modules Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing demand for energy-efficient solutions in various industries
  - 3.2.1.2. Growing focus on renewable energy sources
  - 3.2.1.3. Rising need for precise temperature control in electronics and medical devices
- 3.2.2. Restraints
  - 3.2.2.1. High cost of thermoelectric modules compared to conventional cooling or heating systems
  - 3.2.2.2. Limited efficiency and power output of current thermoelectric technologies
- 3.2.3. Opportunities
  - 3.2.3.1. Increasing adoption of thermoelectric modules in automotive applications, such as waste heat recovery
  - 3.2.3.2. Growing demand for thermoelectric modules in medical devices, aerospace, and defense sectors
- 3.2.4. Challenges
  - 3.2.4.1. Limited awareness and understanding of thermoelectric technology among end users
  - 3.2.4.2. Addressing environmental concerns associated with thermoelectric materials and waste heat disposal
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Thermoelectric Modules Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share and Forecast
- 4.2.1. By Model
  - 4.2.1.1. Single Stage
  - 4.2.1.2. Multi-Stage
- 4.2.2. By Type
  - 4.2.2.1. Bulk Thermoelectric Modules
  - 4.2.2.2. Micro Thermoelectric Modules
  - 4.2.2.3. Thin-Film Thermoelectric Modules
- 4.2.3. By End Use
  - 4.2.3.1. Aerospace & Defense
  - 4.2.3.2. Automotive
  - 4.2.3.3. Consumer Electronics
  - 4.2.3.4. Healthcare
  - 4.2.3.5. Energy & Utilities
  - 4.2.3.6. Others
- 4.2.4. By Region
  - 4.2.4.1. North America
  - 4.2.4.2. Europe
  - 4.2.4.3. Asia Pacific (APAC)
  - 4.2.4.4. Latin America (LATAM)
  - 4.2.4.5. Middle East and Africa (MEA)

5. North America Thermoelectric Modules Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Model
- 5.2.2. By Type
- 5.2.3. By End Use
- 5.2.4. By Country
  - 5.2.4.1. United States
  - 5.2.4.1.1. By Model
  - 5.2.4.1.2. By Type
  - 5.2.4.1.3. By End Use
  - 5.2.4.2. Canada
  - 5.2.4.2.1. By Model
  - 5.2.4.2.2. By Type
  - 5.2.4.2.3. By End Use

6. Europe Thermoelectric Modules Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Model
- 6.2.2. By Type
- 6.2.3. By End Use
- 6.2.4. By Country
  - 6.2.4.1. Germany
  - 6.2.4.1.1. By Model
  - 6.2.4.1.2. By Type
  - 6.2.4.1.3. By End Use
  - 6.2.4.2. United Kingdom
  - 6.2.4.2.1. By Model
  - 6.2.4.2.2. By Type
  - 6.2.4.2.3. By End Use
  - 6.2.4.3. Italy
  - 6.2.4.3.1. By Model
  - 6.2.4.3.2. By Type
  - 6.2.4.3.3. By End Use
  - 6.2.4.4. France
  - 6.2.4.4.1. By Model
  - 6.2.4.4.2. By Type
  - 6.2.4.4.3. By End Use
  - 6.2.4.5. Spain
  - 6.2.4.5.1. By Model
  - 6.2.4.5.2. By Type
  - 6.2.4.5.3. By End Use
  - 6.2.4.6. Belgium
  - 6.2.4.6.1. By Model
  - 6.2.4.6.2. By Type
  - 6.2.4.6.3. By End Use
  - 6.2.4.7. Russia
  - 6.2.4.7.1. By Model
  - 6.2.4.7.2. By Type
  - 6.2.4.7.3. By End Use
  - 6.2.4.8. The Netherlands
  - 6.2.4.8.1. By Model
  - 6.2.4.8.2. By Type
  - 6.2.4.8.3. By End Use
  - 6.2.4.9. Rest of Europe
  - 6.2.4.9.1. By Model
  - 6.2.4.9.2. By Type
  - 6.2.4.9.3. By End Use

7. Asia-Pacific Thermoelectric Modules Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Model
- 7.2.2. By Type
- 7.2.3. By End Use
- 7.2.4. By Country
  - 7.2.4.1. China
  - 7.2.4.1.1. By Model
  - 7.2.4.1.2. By Type
  - 7.2.4.1.3. By End Use
  - 7.2.4.2. India
  - 7.2.4.2.1. By Model
  - 7.2.4.2.2. By Type
  - 7.2.4.2.3. By End Use
  - 7.2.4.3. Japan
  - 7.2.4.3.1. By Model
  - 7.2.4.3.2. By Type
  - 7.2.4.3.3. By End Use
  - 7.2.4.4. South Korea
  - 7.2.4.4.1. By Model
  - 7.2.4.4.2. By Type
  - 7.2.4.4.3. By End Use
  - 7.2.4.5. Australia & New Zealand
  - 7.2.4.5.1. By Model
  - 7.2.4.5.2. By Type
  - 7.2.4.5.3. By End Use
  - 7.2.4.6. Indonesia
  - 7.2.4.6.1. By Model
  - 7.2.4.6.2. By Type
  - 7.2.4.6.3. By End Use
  - 7.2.4.7. Malaysia
  - 7.2.4.7.1. By Model
  - 7.2.4.7.2. By Type
  - 7.2.4.7.3. By End Use
  - 7.2.4.8. Singapore
  - 7.2.4.8.1. By Model
  - 7.2.4.8.2. By Type
  - 7.2.4.8.3. By End Use
  - 7.2.4.9. Vietnam
  - 7.2.4.9.1. By Model
  - 7.2.4.9.2. By Type
  - 7.2.4.9.3. By End Use
  - 7.2.4.10. Rest of APAC
  - 7.2.4.10.1. By Model
  - 7.2.4.10.2. By Type
  - 7.2.4.10.3. By End Use

8. Latin America Thermoelectric Modules Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Model
- 8.2.2. By Type
- 8.2.3. By End Use
- 8.2.4. By Country
  - 8.2.4.1. Brazil
  - 8.2.4.1.1. By Model
  - 8.2.4.1.2. By Type
  - 8.2.4.1.3. By End Use
  - 8.2.4.2. Mexico
  - 8.2.4.2.1. By Model
  - 8.2.4.2.2. By Type
  - 8.2.4.2.3. By End Use
  - 8.2.4.3. Argentina
  - 8.2.4.3.1. By Model
  - 8.2.4.3.2. By Type
  - 8.2.4.3.3. By End Use
  - 8.2.4.4. Peru
  - 8.2.4.4.1. By Model
  - 8.2.4.4.2. By Type
  - 8.2.4.4.3. By End Use
  - 8.2.4.5. Rest of LATAM
  - 8.2.4.5.1. By Model
  - 8.2.4.5.2. By Type
  - 8.2.4.5.3. By End Use

9. Middle East & Africa Thermoelectric Modules Market

9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Model
- 9.2.2. By Type
- 9.2.3. By End Use
- 9.2.4. By Country
  - 9.2.4.1. Saudi Arabia
  - 9.2.4.1.1. By Model
  - 9.2.4.1.2. By Type
  - 9.2.4.1.3. By End Use
  - 9.2.4.2. UAE
  - 9.2.4.2.1. By Model
  - 9.2.4.2.2. By Type
  - 9.2.4.2.3. By End Use
  - 9.2.4.3. Qatar
  - 9.2.4.3.1. By Model
  - 9.2.4.3.2. By Type
  - 9.2.4.3.3. By End Use
  - 9.2.4.4. Kuwait
  - 9.2.4.4.1. By Model
  - 9.2.4.4.2. By Type
  - 9.2.4.4.3. By End Use
  - 9.2.4.5. South Africa
  - 9.2.4.5.1. By Model
  - 9.2.4.5.2. By Type
  - 9.2.4.5.3. By End Use
  - 9.2.4.6. Nigeria
  - 9.2.4.6.1. By Model
  - 9.2.4.6.2. By Type
  - 9.2.4.6.3. By End Use
  - 9.2.4.7. Algeria
  - 9.2.4.7.1. By Model
  - 9.2.4.7.2. By Type
  - 9.2.4.7.3. By End Use
  - 9.2.4.8. Rest of MEA
  - 9.2.4.8.1. By Model
  - 9.2.4.8.2. By Type
  - 9.2.4.8.3. By End Use

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Thermoelectric Modules Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Thermoelectric Modules Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. Ferrotec Corporation
12.2. Laird Thermal Systems
12.3. II-VI Incorporated
12.4. TE Technology
12.5. RMT Ltd.
12.6. KELK Ltd.
12.7. Crystal Ltd.
12.8. Kryotherm
12.9. Phononic
12.10. TEC Microsystems GmbH
12.11. Guangdong Fuxin Technology Co., Ltd.
12.12. Hi-Z Technology, Inc.
12.13. EVERREDtronics Ltd.
12.14. Thermonamic Electronics (Jiangxi) Corp.
12.15. Alphabet Energy Inc.
12.16. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations