The global demand for Thermoelectric Modules Market is presumed to reach the market size of nearly USD 1244.32 MN by 2028 from USD 646.75 MN in 2021 with a CAGR of 9.8% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Million Units in 2021 and forecast to touch XX Million Units by 2028 with a CAGR of XX% during 2022-2028.
Thermoelectric modules refer to a semiconductor-based electronic device that functions as a small heat pump and transfers heat from one side to another side of the device. Thermoelectric modules can instantly cool and warm an object by generating temperature differentials. Thermoelectric modules are also known as peltier coolers or thermoelectric coolers.
The increase in the sales of consumer electronics globally acts as one of the major factors driving the market growth. Also, the demand for owning the simultaneous heating and cooling properties of TEMs increases the demand for several applications and accelerates the market growth. Moreover, thermoelectric modules are increasingly being adopted across industry verticals owing to their advantages such as high reliability, scalability, compact size, environment friendliness, and noise-free and vibration-free operation. Furthermore, the fast-growing electric vehicles market is also driving the market growth owing to the utilization of these modules in various functions of electric vehicles, such as control of car seat temperatures and maintaining the temperature of a car's battery-operated system. In addition, with the increasing technological advancements and rapid development of the healthcare industry, the demand for thermoelectric modules has increased, thus, aiding the industry globally. However, thermoelectric modules' high costs and design complexities may obstruct market growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of thermoelectric modules. The growth and trends of Thermoelectric Modules Industry provide a holistic approach to this study.
This section of the thermoelectric modules market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- Bulk Thermoelectric Modules
- Micro Thermoelectric Modules
- Thin Film Thermoelectric Modules
By End-Use Application
- General Purpose
- Deep Cooling
- Consumer Electronics
- Medical & Laboratories
- Aerospace & Defense
- Oil & Gas And Mining
This section covers the regional outlook, which accentuates current and future demand for the Thermoelectric Modules market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Thermoelectric Modules Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the thermoelectric modules market include Ferrotec (Japan), Laird Thermal Systems (US), II-VI Incorporated (US), Kelk (Japan), Guangdong Fuxin Technology (China), TE Technology (US), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), and Phononic (US). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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