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The global thermoelectric modules market stood at a value of around USD 626.75 million in 2020 and is further projected to grow at a CAGR of 9% over the forecast period of 2021-2026.
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Thermoelectric modules consist of highly doped semiconductor components with electrical carriers. These components are arranged in arrays, which are attached thermally in parallel and linked electrically in series. With the increasing technological advancements and rapid development of the healthcare industry, the demand for thermoelectric modules has increased, thus, aiding the industry globally.
The thermoelectric module, also known as a thermoelectric cooler or Peltier cooler, is an electronic semiconductor-based device that operates as a small heat pump and transfers heat from one side of the device to the other. By generating temperature differentials, thermoelectric modules can either cool or warm an object immediately.
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The thermoelectric modules market can be segmented based on technology, type, end-use, components, and functionality. On the basis of its technology, the industry can be divided into single-stage and multi-stage. Based on its type, the industry can be categorised as bulk, micro, and thin-film thermoelectric. Based on its end-use, the industry can be segmented as:
Based on its components, the industry can be divided into hardware and software and services. On the basis of its functionality, the industry can be segmented into:
The EMR report looks into the regional thermoelectric modules markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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The increasing use of thermoelectric cooling modules in medical and laboratory applications such as vaccine storage, air conditioning, medical facilities, food preservation, and electronic device cooling is the major factor driving the growth of the thermoelectric modules industry.
The report presents a detailed analysis of the following key players in the global thermoelectric modules market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Technology, Component, Type, Functionality, End Use, Region|
|Breakup by Technology||Single Stage, Multi Stage|
|Breakup by Component||Hardware, Software & Services|
|Breakup by Type||Bulk Thermoelectric, Micro Thermoelectric, Thin Film Thermoelectric|
|Breakup by Functionality||Deep Cooling Modules, General Purpose Modules|
|Breakup by End Use||Automotive, Consumer Electronics, Aerospace & Defence, Medical & Laboratories, Telecommunications, Industrial, Oil, Gas, & Mining, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Ferrotec (USA) Corporation [Ferrotec Holdings], Laird [Laird PLC], II-VI Marlow [II-VI Incorporated], TE Technology, Inc., TEC Microsystems GmbH, Crystal Ltd., Kryotherm, RMT Ltd, Thermion Company, Thermonamic Electronics (Jiangxi) Corp., Ltd., Kelk Ltd. [Komatsu Ltd.], Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Thermoelectric Modules Market Analysis
6.1 Global Thermoelectric Modules Market (2016-2020) & Forecast (2021-2026)
6.2 Global Thermoelectric Modules Market Breakup by Technology
6.2.1 Single Stage
6.2.2 Multi Stage
6.3 Global Thermoelectric Modules Market Breakup by Technology: Historical Market (2016-2020) & Forecast (2021-2026)
6.3.1 Single Stage
6.3.2 Multi Stage
6.4 Global Thermoelectric Modules Market Breakup by Component
6.4.2 Software & Services
6.5 Global Thermoelectric Modules Market Breakup by Component: Historical Market (2016-2020) & Forecast (2021-2026)
6.5.2 Software & Services
6.6 Global Thermoelectric Modules Market Breakup by Type
6.6.1 Bulk Thermoelectric
6.6.2 Micro Thermoelectric
6.6.3 Thin Film Thermoelectric
6.7 Global Thermoelectric Modules Market Breakup by Type: Historical Market (2016-2020) & Forecast (2021-2026)
6.7.1 Bulk Thermoelectric
6.7.2 Micro Thermoelectric
6.7.3 Thin Film Thermoelectric
6.8 Global Thermoelectric Modules Market Breakup by Functionality
6.8.1 Deep Cooling Modules
6.8.2 General Purpose Modules
22.214.171.124 Temperature Stabilization
126.96.36.199 Power Generation
6.9 Global Thermoelectric Modules Market Breakup by Functionality: Historical Market (2016-2020) & Forecast (2021-2026)
6.9.1 Deep Cooling Modules
6.9.2 General Purpose Modules
188.8.131.52 Temperature Stabilization
184.108.40.206 Power Generation
6.10 Global Thermoelectric Modules Market Breakup by End Use
6.10.2 Consumer Electronics
6.10.3 Aerospace & Defence
6.10.4 Medical & Laboratories
6.10.7 Oil, Gas, & Mining
6.11 Global Thermoelectric Modules Market Breakup by End Use: Historical Market (2016-2020) & Forecast (2021-2026)
6.11.2 Consumer Electronics
6.11.3 Aerospace & Defence
6.11.4 Medical & Laboratories
6.11.7 Oil, Gas, & Mining
6.12 Global Thermoelectric Modules Market Breakup by Region
6.12.1 North America
220.127.116.11 United States of America
18.104.22.168 United Kingdom
6.12.3 Asia Pacific
6.12.4 Latin America
6.12.5 Middle East & Africa
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
6.13 Global Thermoelectric Modules Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
6.13.1 North America
184.108.40.206 United States of America
220.127.116.11 United Kingdom
6.13.3 Asia Pacific
6.13.4 Latin America
6.13.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
7 SWOT Analysis
8 Porter’s Five Forces Analysis
8.2 Buyer’s Power
8.3 Supplier’s Power
8.4 New Entrants
8.5 Degree of Rivalry
9 Competitive Landscape & Supplier Analysis
9.1 Ferrotec (USA) Corporation [Ferrotec Holdings]
9.1.1 Company Overview
9.1.2 Financial Analysis
9.2 Laird [Laird PLC]
9.2.1 Company Overview
9.2.2 Financial Analysis
9.3 II-VI Marlow [II-VI Incorporated]
9.3.1 Company Overview
9.3.2 Financial Analysis
9.4 TE Technology, Inc.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.5 TEC Microsystems GmbH
9.5.1 Company Overview
9.5.2 Financial Analysis
9.6 Crystal Ltd.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.7.1 Company Overview
9.7.2 Financial Analysis
9.8 RMT Ltd
9.8.1 Company Overview
9.8.2 Financial Analysis
9.9 Thermion Company
9.9.1 Company Overview
9.9.2 Financial Analysis
9.10 Thermonamic Electronics (Jiangxi) Corp., Ltd.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.11 Kelk Ltd. [Komatsu Ltd.]
9.11.1 Company Overview
9.11.2 Financial Analysis
10 Industry Events and Developments
In 2020, the global thermoelectric modules market attained a value of nearly USD 626.75 million.
The market is projected to grow at a CAGR of 9% between 2021 and 2026.
The major drivers of the industry, such as the developing healthcare industry, increased demand for efficient food preservation solution, and favourable government initiatives, are expected to aid the market growth.
Technological advancement and growing research and development activities are the key market trends guiding the growth of the thermoelectric modules industry.
The major regional markets are North America, Europe, the Asia Pacific, Latin America and the Middle East and Africa.
Single-stage and multi-stage are the major technologies of the product in the industry.
The significant components of thermoelectric modules include hardware and software and services segments.
The significant types of thermoelectric modules in the industry are bulk thermoelectric, micro thermoelectric and thin film thermoelectric.
Deep cooling modules and general purpose modules represent the major functionalities of the product in the market.
The major end uses of the product are automotive, consumer electronics, aerospace and defence, medical and laboratories, oil, gas and mining, industrial, and telecommunications.
The major players in the industry are Ferrotec (USA) Corporation (Ferrotec Holdings), Laird (Laird PLC), II-VI Marlow (II-VI Incorporated), TE Technology, Inc., TEC Microsystems GmbH, Crystal Ltd., Kryotherm, RMT Ltd., Thermion Company, Thermonamic Electronics (Jiangxi) Corp., Ltd., and Kelk Ltd., among others.
The global thermoelectric modules market attained a value of USD 626.75 million in 2020, driven by the improving healthcare sector and the rising demand for electric vehicle and favourable government initiatives. Aided by the technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 9%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on technology, the industry can be segmented into single-stage and multi-stage. On the basis of component, the industry can be segmented into hardware and software and services. By type, the industry can be divided into bulk thermoelectric, micro thermoelectric, and thin film thermoelectric. On the basis of functionality, the industry can be divided into deep cooling modules and general purpose modules. Based on end use, the industry can be categorised into automotive, consumer electronics, aerospace and defence, medical and laboratories, telecommunications, industrial, and oil, gas and mining, among others. The major regional markets for thermoelectric modules are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Ferrotec (USA) Corporation (Ferrotec Holdings), Laird (Laird PLC), II-VI Marlow (II-VI Incorporated), TE Technology, Inc., TEC Microsystems GmbH, Crystal Ltd., Kryotherm, RMT Ltd., Thermion Company, Thermonamic Electronics (Jiangxi) Corp., Ltd., and Kelk Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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