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Thermoelectric Modules Market

Thermoelectric Modules Market Forecasts to 2028 – Global Analysis By Type (Bulk Thermoelectric Modules, Micro Thermoelectric Modules, Thin-Film Thermoelectric Modules), Functionality, Offering, Model, Application, End User and By Geography

4.8 (54 reviews)
Published: July 2021 ID: SMRC20716
4.8 (54 reviews)
Published: July 2021 ID: SMRC20716

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Thermoelectric Modules Market is accounted for $489.54 million in 2020 and is expected to reach $1,057.04 million by 2028 growing at a CAGR of 10.1% during the forecast period. Benefits of TEMs over conventional systems and simultaneous heating & cooling properties of TEMs are the major factors propelling the market growth. However, inherent disadvantages, design complexities and high costs compared to traditional heating/cooling systems are hampering the market growth.

Thermoelectric module widely known as thermoelectric cooler is a device which is placed inside of gadget or embedded in machine to transfer the heat from one side to other. It is also called Peltier cooler, which is a semiconductor-based electronic device that functions as a mini heat pump and transmits heat from one side of the device to the other. The thermoelectric modules can instantly warm or cool an object by producing temperature differentials. The thermoelectric modules consist of semiconductor elements that are deeply doped with electric carriers.

Based on end user, the automotive segment is going to have a lucrative growth during the forecast period owing to the fast growth of electric vehicles in the market. Thermoelectric modules are suitable for heating batteries in electric cars to overcome the poor performance of batteries in cold weather conditions. Other uses of these modules in automotive applications include cooling laser diodes in head-up displays, cool cup holders and glove boxes in car cabins, cooling sensor devices such as LIDAR in autonomous vehicles, and cooling laser diodes in laser headlights. Hence, with the rise in vehicles equipped with convenience features and the high growth potential of electric and autonomous vehicles, the market for thermoelectric modules for automotive applications is expected to witness the fastest growth during the forecast period.
 
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the large-scale manufacturing mainly in China and significant investments in new vehicle technologies including electric vehicles, LiDAR, and autonomous vehicles. The fast growth of luxury vehicles in China equipped with features such as heated/cooled seats, cooled glove boxes, and mini freezers is expected to drive the market for thermoelectric modules in the automotive segment. Japanese automotive manufacturers such as Toyota (Japan) and Honda (Japan) are fusing electrification technology for their vehicles, which is expected to facilitate the demand for thermoelectric modules in electric vehicles.

Some of the key players profiled in the Thermoelectric Modules Market include Align Sourcing, Crystal Ltd., Ferrotec Holdings Corp., Guangdong Fuxin Technology, HiTECH Technologies, Hi-Z Technology Inc., II-VI Inc, KELK Ltd., Kryotherm, Kyocera Corporation, Laird Thermal Systems, Phononic, TE Technology, TEC Microsystems, Thermonamic Electronics (Jiangxi) Corp. Ltd, Wellen Technology Co. Ltd., Xiamen Hicool Electronics Co. Ltd, and Z-Max.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 489.54 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

10.1%

Predicted 2028 Value:

USD 1,057.04 million

Forecast Years:

2021-2028

Tables, Graphs& Figures

223

Chapters Covered:

Type, Functionality, Offering, Model, Material, Application, End User and Region

Core Drivers and Opportunities:

  • Growth of electric and luxury vehicles
  • Development of TEMs for new application areas
  • Thermoelectric coolers for storage and transport of COVID-19 vaccines

Restraining Factors & Market Threats:

  • Decline in demand in automotive industry
  • Reliability and strength


 Types Covered:
• Bulk Thermoelectric Modules
• Micro Thermoelectric Modules
• Thin-Film Thermoelectric Modules

Functionalities Covered:
• Deep Cooling
• General Purpose

Offerings Covered:
• Hardware
• Software & Services

Models Covered:
• Multi Stage
• Single Stage

Materials Covered:
• Bismuth Telluride (Bi2Te3)
• Lead Telluride (PbTe)
• Silicon Germanium (SiGe)

Applications Covered:
• Analytical Instrumentation
• Electronics and Safety Systems
• Refrigeration and Cryogenics
• Thermal Cycling
• Detectors
• Commercial
• Government

End Users Covered:
• Consumer Electronics
• Industrial
• Telecommunications
• Automotive
• Medical & Laboratories
• Aerospace & Defense
• Oil, Gas and Mining
• Food and Beverages
• Energy and Utility

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Thermoelectric Modules Market is majorly driven by inclination for thermoelectric coolers for storage & transport of COVID-19 vaccines and Growth of electric & luxury vehicles

The automotive segment is growing at a highest CAGR owing to the rise in vehicles equipped with convenience features and the high growth potential of electric and autonomous vehicles.

Asia Pacific dominated with a significant market share due to the factors such as large-scale manufacturing mainly in China and significant investments in new vehicle technologies including electric vehicles, LiDAR, and autonomous vehicles across the region.

North America market is growing at a highest CAGR owing to the standardization of commercial refrigeration and heating, ventilation, and air conditioning (HVAC) devices with replacement of ageing units in the region.

Key players in Thermoelectric Modules Market include Align Sourcing, Crystal Ltd., Ferrotec Holdings Corp., Guangdong Fuxin Technology, HiTECH Technologies, Hi-Z Technology Inc., II-VI Inc, KELK Ltd., Kryotherm, Kyocera Corporation, Laird Thermal Systems, Phononic, TE Technology, TEC Microsystems, Thermonamic Electronics (Jiangxi) Corp. Ltd, Wellen Technology Co. Ltd., Xiamen Hicool Electronics Co. Ltd, and Z-Max.

1 Executive Summary        
          
2 Preface        
 
 2.1 Abstract        
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology      
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions      
           
3 Market Trend Analysis       
 3.1 Introduction       
 3.2 Drivers        
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats        
 3.6 Application Analysis      
 3.7 End User Analysis       
 3.8 Emerging Markets       
 3.9 Impact of Covid-19       
          
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry        
          
5 Global Thermoelectric Modules Market, By Type     
 5.1 Introduction       
 5.2 Bulk Thermoelectric Modules      
 5.3 Micro Thermoelectric Modules     
 5.4 Thin-Film Thermoelectric Modules     
          
6 Global Thermoelectric Modules Market, By Functionality    
 6.1 Introduction       
 6.2 Deep Cooling       
 6.3 General Purpose       
          
7 Global Thermoelectric Modules Market, By Offering    
 7.1 Introduction       
 7.2 Hardware       
 7.3 Software & Services       
          
8 Global Thermoelectric Modules Market, By Model     
 8.1 Introduction       
 8.2 Multi Stage       
 8.3 Single Stage       
          
9 Global Thermoelectric Modules Market, By Material    
 9.1 Introduction       
 9.2 Bismuth Telluride (Bi2Te3)      
 9.3 Lead Telluride (PbTe)      
 9.4 Silicon Germanium (SiGe)      
          
10 Global Thermoelectric Modules Market, By Application    
 10.1 Introduction       
 10.2 Analytical Instrumentation      
 10.3 Electronics and Safety Systems     
 10.4 Refrigeration and Cryogenics      
 10.5 Thermal Cycling       
 10.6 Detectors       
 10.7 Commercial       
 10.8 Government       
          
11 Global Thermoelectric Modules Market, By End User    
 11.1 Introduction       
 11.2 Consumer Electronics      
 11.3 Industrial        
 11.4 Telecommunications      
 11.5 Automotive       
 11.6 Medical & Laboratories      
 11.7 Aerospace & Defense      
 11.8 Oil, Gas and Mining       
 11.9 Food and Beverages      
 11.10 Energy and Utility       
          
12 Global Thermoelectric Modules Market, By Geography    
 12.1 Introduction       
 12.2 North America       
  12.2.1 US       
  12.2.2 Canada       
  12.2.3 Mexico       
 12.3 Europe         
  12.3.1 Germany       
  12.3.2 UK       
  12.3.3 Italy       
  12.3.4 France       
  12.3.5 Spain       
  12.3.6 Rest of Europe      
 12.4 Asia Pacific       
  12.4.1 Japan       
  12.4.2 China       
  12.4.3 India       
  12.4.4 Australia       
  12.4.5 New Zealand      
  12.4.6 South Korea      
  12.4.7 Rest of Asia Pacific      
 12.5 South America       
  12.5.1 Argentina      
  12.5.2 Brazil       
  12.5.3 Chile       
  12.5.4 Rest of South America     
 12.6 Middle East & Africa      
  12.6.1 Saudi Arabia      
  12.6.2 UAE       
  12.6.3 Qatar       
  12.6.4 South Africa      
  12.6.5 Rest of Middle East & Africa     
          
13 Key Developments        
 13.1 Agreements, Partnerships, Collaborations and Joint Ventures   
 13.2 Acquisitions & Mergers      
 13.3 New Product Launch      
 13.4 Expansions       
 13.5 Other Key Strategies      
          
14 Company Profiling        
 14.1 Align Sourcing       
 14.2 Crystal Ltd.       
 14.3 Ferrotec Holdings Corp.      
 14.4 Guangdong Fuxin Technology      
 14.5 HiTECH Technologies      
 14.6 Hi-Z Technology Inc.       
 14.7 II-VI Inc.        
 14.8 KELK Ltd.        
 14.9 Kryotherm       
 14.10 Kyocera Corporation      
 14.11 Laird Thermal Systems      
 14.12 Phononic        
 14.13 TE Technology       
 14.14 TEC Microsystems       
 14.15 Thermonamic Electronics (Jiangxi) Corp. Ltd.    
 14.16 Wellen Technology Co. Ltd.      
 14.17 Xiamen Hicool Electronics Co. Ltd     
 14.18 Z-Max        


List of Tables         
1 Global Thermoelectric Modules Market Outlook, By Region (2019-2028) ($MN)  
2 Global Thermoelectric Modules Market Outlook, By Type (2019-2028) ($MN)  
3 Global Thermoelectric Modules Market Outlook, By Bulk Thermoelectric Modules (2019-2028) ($MN)
4 Global Thermoelectric Modules Market Outlook, By Micro Thermoelectric Modules (2019-2028) ($MN)
5 Global Thermoelectric Modules Market Outlook, By Thin-Film Thermoelectric Modules (2019-2028) ($MN)
6 Global Thermoelectric Modules Market Outlook, By Functionality (2019-2028) ($MN) 
7 Global Thermoelectric Modules Market Outlook, By Deep Cooling (2019-2028) ($MN) 
8 Global Thermoelectric Modules Market Outlook, By General Purpose (2019-2028) ($MN) 
9 Global Thermoelectric Modules Market Outlook, By Offering (2019-2028) ($MN)  
10 Global Thermoelectric Modules Market Outlook, By Hardware (2019-2028) ($MN)  
11 Global Thermoelectric Modules Market Outlook, By Software & Services (2019-2028) ($MN) 
12 Global Thermoelectric Modules Market Outlook, By Model (2019-2028) ($MN)  
13 Global Thermoelectric Modules Market Outlook, By Multi Stage (2019-2028) ($MN)  
14 Global Thermoelectric Modules Market Outlook, By Single Stage (2019-2028) ($MN) 
15 Global Thermoelectric Modules Market Outlook, By Material (2019-2028) ($MN)  
16 Global Thermoelectric Modules Market Outlook, By Bismuth Telluride (Bi2Te3) (2019-2028) ($MN)
17 Global Thermoelectric Modules Market Outlook, By Lead Telluride (PbTe) (2019-2028) ($MN) 
18 Global Thermoelectric Modules Market Outlook, By Silicon Germanium (SiGe) (2019-2028) ($MN)
19 Global Thermoelectric Modules Market Outlook, By Application (2019-2028) ($MN)  
20 Global Thermoelectric Modules Market Outlook, By Analytical Instrumentation (2019-2028) ($MN)
21 Global Thermoelectric Modules Market Outlook, By Electronics and Safety Systems (2019-2028) ($MN)
22 Global Thermoelectric Modules Market Outlook, By Refrigeration and Cryogenics (2019-2028) ($MN)
23 Global Thermoelectric Modules Market Outlook, By Thermal Cycling (2019-2028) ($MN) 
24 Global Thermoelectric Modules Market Outlook, By Detectors (2019-2028) ($MN)  
25 Global Thermoelectric Modules Market Outlook, By Commercial (2019-2028) ($MN) 
26 Global Thermoelectric Modules Market Outlook, By Government (2019-2028) ($MN) 
27 Global Thermoelectric Modules Market Outlook, By End User (2019-2028) ($MN)  
28 Global Thermoelectric Modules Market Outlook, By Consumer Electronics (2019-2028) ($MN) 
29 Global Thermoelectric Modules Market Outlook, By Industrial (2019-2028) ($MN)  
30 Global Thermoelectric Modules Market Outlook, By Telecommunications (2019-2028) ($MN) 
31 Global Thermoelectric Modules Market Outlook, By Automotive (2019-2028) ($MN) 
32 Global Thermoelectric Modules Market Outlook, By Medical & Laboratories (2019-2028) ($MN)
33 Global Thermoelectric Modules Market Outlook, By Aerospace & Defense (2019-2028) ($MN) 
34 Global Thermoelectric Modules Market Outlook, By Oil, Gas and Mining (2019-2028) ($MN) 
35 Global Thermoelectric Modules Market Outlook, By Food and Beverages (2019-2028) ($MN) 
36 Global Thermoelectric Modules Market Outlook, By Energy and Utility (2019-2028) ($MN) 
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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