According to a new market research report published by Global Insight Services “Thermoelectric Modules Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Thermoelectric modules (TEMs) are devices that can convert heat into electricity and vice versa. TEMs are made up of two types of materials, called n-type and p-type semiconductors. These materials are connected together to form a circuit. When there is a temperature difference between the two materials, electrons flow from the hot side to the cold side. This flow of electrons generates an electric current, which can be used to power electric devices. TEMs can also be used to cool devices by reversing the flow of electrons. In this case, the TEM acts like a heat pump, moving heat from the cold side to the hot side.
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Key Players
The key players in the market are Ferrotec, II-VI Incorporated, KELK, Laird Thermal Systems, Guangdong Fuxin Technology, TE Technology, Phononic, INHECO Industrial Heating & Cooling, Kryotherm, and Kyocera Corporation.
Key Trends
The automotive industry is one of the major consumers of thermoelectric modules. The automotive industry is shifting its focus from traditional internal combustion engine (ICE) vehicles to electric vehicles (EVs). The growing demand for EVs is expected to drive the growth of the thermoelectric modules market during the forecast period.
Consumer electronics was the second-largest application segment of the global thermoelectric modules market. The rising popularity of wearable devices and the increasing adoption of smartphones and tablets are expected to drive the growth of the thermoelectric modules market in the consumer electronics application segment during the forecast period.
Key Drivers
The key drivers of the thermoelectric modules market are rising demand for energy-efficient cooling and heating solutions, growing adoption of fuel cells, and increasing use of waste heat recovery systems.
The rising demand for energy-efficient cooling and heating solutions is a major driver of the thermoelectric modules market. TEMs offer a more efficient and environmentally-friendly alternative to conventional cooling and heating methods, such as refrigeration and air conditioning. This is due to the fact that TEMs do not use any moving parts or chemicals, and they can be powered by renewable energy sources.
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Market Segmentation
The market is segmented by device type, display technology, application, and region. By device type, the market is classified into AR HMDs, VR HMDs, AR HUD,s and VR projectors. By display technology, the market is divided into LCD, OLED, and others. By application the market is bifurcated into consumer, commercial, enterprise, automotive and others. Region-wise, market is s segmented into North America, Europe, Asia-Pacific and rest of the world.
Reasons to buy Thermoelectric Modules Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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