Thermoelectric Modules Market: Global Industry Analysis 2015 - 2019 and Opportunity Assessment 2020 - 2030

Thermoelectric Modules  Market
  • To Be Published : Dec-2020 |
  • Status : Work in progress |
  • Format : Thermoelectric Modules  Market Thermoelectric Modules  Market Thermoelectric Modules  Market Thermoelectric Modules  Market

Modules Market

Thermoelectric modules comprise of thermoelectric material or dice arranged between substrates. Most users use Thermoelectric (thermoelectric) modules to maintain a constant temperature or to hold something at a specific temperature. Thermoelectric modules are usually used as warmers or coolers and such Tel modules provide highly reliable service for many years. Where as in some applications thermoelectric modules are used to provide a different temperatures, involves a switch in polarity to change from warming to cooling. This is process used to achieve rapid cyclic temperature changes is called thermal cycling. In addition this cyclic thermoelectric modules are used to reduce the surface area impacted by the shifting contraction and expansion of the ceramic substrates.

Among the different types of thermoelectric modules available in the market the deep cooling thermoelectric modules are used widely and hence it is one of the major revenue generating sub segment of the thermoelectric modules market. Moreover, the deep cooling thermoelectric modules are available in two models or form factors, as single stage module and multi stage module. High power thermoelectric modules are used to maximize the heat pumping capacity and these high power thermoelectric modules are considered as deep cooling modules. Thus the player in the thermoelectric modules market are focusing on high temperature applications.

For instance, in June 2018, Laird Thermal Systems introduced new thermoelectric cooler module for high temperature applications. The company expanded its product portfolio to safeguard critical electronic devices found in high temperature environment. Companies HiTemp ET series includes around 50 different types of modules to choose for different types of applications.

Impact of COVID-19 Pandemic Outbreak on Thermoelectric Modules Market

Electronics manufacturing sector is facing problems with production and supply chain issues, due to COVID-19 outbreak. As a result manufacturing plants are closing operation in China and Malaysia as well as there is unstable flow of resources from supplies in Asian countries which is the hub for electronics manufacturing. Thus the growth of electronics segment has dropped drastically in Q1, 2020 due to COVID-19 outbreak. In addition the growth rate of semiconductors market in North America has dropped roughly from 6% in 2018 to 3% in 2019. Furthermore automotive industry is one of the major consumer of thermoelectric modules, and a decrease in sales and production is observed in automotive industry by almost 25% due to impact of corona virus on manufacturing industry. Thus it is also a significant factor hampering the growth of the thermoelectric modules market. However, if the pandemic situation recovers then the market will gain momentum back by the end Q4, 2020.

Thermoelectric Modules Market: Drivers and Restraints

New Initiatives Taken by Government to Surge the Demand of Thermoelectric Modules

Rising government initiatives for increase in usage of thermoelectric module is one of the major factors driving the growth of the market. For instance the US department of energy has introduced a program that grants state territories to build energy efficient homes and support families with low income. Infrared thermography is increasingly used for better understanding and diagnostics of points related to ventilation, insulation level, pest infestation and faulty wiring. Thus with the increase in usage of infrared thermography equipment, the demand for thermoelectric modules is also increasing. Thus government initiatives are a major factor anticipated to drive the growth of the thermoelectric modules market.

Rising usage of thermoelectric modules for cooling or heating in various applications across different industries is expected to propel the growth of the market during the forecast period. Combining the range of advantages of thermoelectric modules such as absence of moving parts and vibrations, silent operation, absence of hazardous materials and solid design demand of these modules is increasing rapidly. However, compared to traditional refrigeration or cooling systems the investment is much higher in thermoelectric modules, which is a major factor hindering the growth of the market.

Thermoelectric Modules Market: Segmentation

The Thermoelectric Modules market can be segmented on the basis of type, application, industry and region.

The thermoelectric modules market segmentation by type:

  • Single stage
  • Multistage
  • High Temperature
  • Cycling
  • Sealants

The thermoelectric modules market segmentation by application:

  • Analytical Instrumentation
  • Automotive Electronics and Safety Systems
  • Refrigeration and Cryogenics
  • Thermal Cycling
  • Detectors

The thermoelectric modules market segmentation by industry:

  • Automotive
  • Consumer Electronics
  • Medical & Laboratories
  • Aerospace & Defense
  • Oil, Gas & Mining
  • Industrial
  • Others

Thermoelectric Modules Market: Competition Landscape

Major market participants in the global thermoelectric modules market identified across the value chain include Crystal Ltd., TEC Microsystems GmbH, Ferrotec Corporation, Thermonamic Electronics (Jiangxi) Corp. Ltd., KELK Ltd., KRYOTHERM, Laird Technologies, RMT Ltd., TE Technology, Inc., and others.

Following are some key strategies and developments in the global thermoelectric modules market:

  • In March 2020, European Thermodynamics Ltd. updated its adaptive high temperature cycling Peltier cooler modules this new modules are designed to work at high temperatures up to 180 degree Celsius.

Thermoelectric Modules Market: Regional Outlook

Asia Pacific is anticipated to dominate the global thermoelectric modules market as it is a fast developing region for most of the end use application of thermoelectric module such as industrial, automotive, electronics and others. Countries such as Japan, China and South Korea are major contributors responsible for the significant growth of the thermoelectric modules in this region.

The thermoelectric modules market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.

The report covers exhaustive analysis on:                                      

  • Thermoelectric Modules Market Segments
  • Thermoelectric Modules Market Dynamics
  • Thermoelectric Modules Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Technology
  • Value Chain of the Market
  • Market Drivers and Restraints

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
  • East Asia (China, Japan, South Korea)
  • South Asia and Pacific (India, Malaysia, Indonesia, Singapore, Australia & New Zealand, Rest of South Asia)
  • Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of MEA)

Report Highlights:

  • Detailed overview of parent Thermoelectric Modules market
  • Changing Thermoelectric Modules market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape of Thermoelectric ModulesMarket
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

Thermoelectric Modules Market

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