The global thermoelectric modules market is expected to reach more than USD 670 million by 2026. The anticipated CAGR is going to be 8.9 per cent from 2019 to 2026. Given that the thermoelectric modules are beneficial over conventional systems, and the simultaneous heating and cooling of thermoelectric modules serving the demand of several applications, expanding electric vehicles market and focus of governments on using renewable energy sources would be driving the growth of the global thermoelectric modules market.
Multi-stage thermoelectric modules are appropriate for application for which low-to-medium cooling capacity is required. Typically, multi-stage thermoelectric modules are applied in IR detectors, charge-coupled device arrays, electro-optics and material testing solutions. In the global thermoelectric modules market, deep-cooling modules are major revenue generators based on functionality. High power thermoelectric modules are also considered in deep cooling modules. Many companies in this market focus on high temperature applications. For example, LAIRD has expanded its Peltier thermoelectric module product family in May 2019 with the HiTemp ET Series. This is designed to protect critical electronic devices, such as, CMOS sensors in the high temperature applications.
The Asia pacific region accounts for the largest share in the global thermoelectric modules market as of 2020. The market in this region has emerged as a global focal point for major investments and business expansion opportunities.
At Global Market Estimates Research and Consultants (GME) there is a team of more than 50 full-time and 200 part-time analysts, with required intelligence and expertise to conduct syndicated research reports. One such research report published in March 2020 by GME was the Global Thermoelectric Modules Market Report. The market report was designed to provide a complete view of the Global Thermoelectric Modules Market. The report provides the required market insights about the Global Thermoelectric Modules Market which enables the enterprises and consumers to make strategic business decisions. This includes detailed research support about strategic market entry, sales maximization, consumer and competitive scenario, market estimates & forecasts and vendor and customer analysis.
The report also segmented the Global Thermoelectric Modules Market on the basis of model. With this respect to model, the global thermoelectric modules market is segmented into Single-stage, and Multi-stage. On the basis of functionality, the global thermoelectric modules market is segmented into deep cooling modules, and general-purpose modules. On the basis of offering, the global thermoelectric modules market is segmented into hardware, and software & services. With respect to type, the global thermoelectric modules market is categorised into thin-film thermoelectric modules, bulk thermoelectric modules, and micro thermoelectric modules. On the basis of region, the global thermoelectric modules market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. The countries covered include: U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Saudi Arabia, UAE, and South Africa among others. The end-user landscape entails a list of technology and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, product & services, and regional presence of companies who are purchasing or are likely to purchase thermoelectric modules. The key end-users of the markets are Indian Oil, BMW, and Change Healthcare among others. Some of the key players operating in the thermoelectric modules market are TE Technology, TEC Microsystems, Crystal Ltd., Kryotherm, Ferrotec Laird, II-VI Marlow, Thermonamic Electronics, Z Max, Phononic, Everredtronics, RMT Ltd, Thermion Company, Micropelt, LG Innotek, Align Sourcing, Hui MAO, Merit Technology Group, Kelk Ltd, Fuxin Technology, and AMS Technologies, among others.