Thermoelectric Modules Market worth 890.6 Million USD by 2023

According to the new market research report "Thermoelectric Modules Market by Technology (Single Stage, and Multi Stage), Type (Bulk Thermoelectric, Micro Thermoelectric, and Thin Film Thermoelectric), Functionality, Offering, End–Use Application, and Region - Global Forecast to 2023", The thermoelectric modules market is expected to grow from USD 527.5 Million in 2017 and is expected to reach USD 890.6 Million by 2023, at a CAGR of 9.12% between 2017 and 2023. The demand for thermoelectric modules is mainly driven by its superior advantages such as precise temperature control, compact geometric size, reliable solid state operations, lower power consumption, rapid temperature cycling, fully reversible switch in polarity, integrated design, and rapid response time. 

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownload.asp?id=133137155

 

Browse 62 Market Data Tables and 33 Figures spread through 157 Pages and in-depth TOC on "Thermoelectric Modules Market"
https://www.marketsandmarkets.com/Market-Reports/thermoelectric-module-market-133137155.html
Early buyers will receive 10% customization on this report.

Hardware offering expected to lead the thermoelectric modules market

The hardware offering is expected to hold the largest share of the market between 2017 and 2023. This growth is attributed to the increasing usage of various hardware components for thermoelectric modules such as heat sink, heat dissipation component, thermoelectric element, ceramic substrate, electrical interconnect, and heat absorption. Moreover, hardware is expected to account for a larger share of the overall thermoelectric modules market compared with the software and services offering during the forecast period.

Thermoelectric modules market for the deep cooling modules is expected to grow at a higher CAGR between 2017 and 2023

The increasing use of deep cooling modules in the medical and laboratories application such as in vaccine storages, air-conditioning, medical services, food preservation, and cooling of electronic devices is the key reason for the growth of these modules. Moreover, these modules are used in other applications such as air conditioners, IR (radiative) cooling, biomedical, emergency power sources, mini-refrigerators lasers, transitional care units (TCUs), photodiodes, waste heat recovery, chillers, cold plates, wine cabinets, sensors, and remote sensor power.

Asia Pacific held the largest share of the thermoelectric modules market in 2016

Asia Pacific (APAC) held the largest share of the market in 2016. The largest share of APAC is attributed to the fact that a maximum number of manufacturers have their headquarters in this region. The other factors attributing to this growth are low manufacturing costs because of low overhead costs and cheap labor, and increasing demand for thermoelectric modules (across diverse applications) and waste heat recovery, industrial automation, and healthcare monitoring devices, as well as growing industrialization. Moreover, with the use of thermoelectric modules, higher efficiency levels and energy harvesting can be achieved in APAC.

Some of the major players in the thermoelectric modules market are Ferrotec (Japan), Laird (UK), II-VI Marlow (US), Crystal Ltd. (Russia), and RMT Ltd (Russia).

Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=133137155

 

About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com