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
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.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 489.54 million |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
10.1% |
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Predicted 2028 Value: |
USD 1,057.04 million |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
223 |
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Chapters Covered: |
Type, Functionality, Offering, Model, Material, Application, End User and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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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.
Table of Contents
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.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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