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Global Thermoelectric Modules Market: By Technology: Single Stage, Multi Stage; By Component: Hardware, Software and Services; By Type: Bulk Thermoelectric, Others; By Functionality; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Thermoelectric Modules Market Outlook
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 2023-2028.
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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.
Market Segmentation
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:
- Automotive
- Consumer Electronics
- Aerospace and Defence
- Medical and Laboratories
- Telecommunications
- Industrial
- Oil, Gas, & Mining
- Others
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:
- Deep Cooling Modules
- General Purpose Modules
- Temperature Stabilization
- Power Generation
- Others
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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Market Analysis
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.
Competitive Landscape
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:
- 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 (NYSE: RMT)
- Thermion Company
- Thermonamic Electronics (Jiangxi) Corp., Ltd.
- Kelk Ltd. [Komatsu Ltd.]
- Others
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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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, 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Thermoelectric Modules Market Analysis
8.1 Key Industry Highlights
8.2 Global Thermoelectric Modules Historical Market (2018-2022)
8.3 Global Thermoelectric Modules Market Forecast (2023-2028)
8.4 Global Thermoelectric Modules Market by Technology
8.4.1 Single Stage
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Multi Stage
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Thermoelectric Modules Market by Component
8.5.1 Hardware
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Software and Services
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Thermoelectric Modules Market by Type
8.6.1 Bulk Thermoelectric
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Micro Thermoelectric
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Thin Film Thermoelectric
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global Thermoelectric Modules Market by Functionality
8.7.1 Deep Cooling Modules
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 General Purpose Modules
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.2.4 Breakup by Type
8.7.2.4.1 Temperature Stabilization
8.7.2.4.2 Power Generation
8.7.2.4.3 Others
8.8 Global Thermoelectric Modules Market by End Use
8.8.1 Automotive
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Consumer Electronics
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Aerospace and Defense
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Medical and Laboratories
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Telecommunications
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
8.8.6 Industrial
8.8.6.1 Market Share
8.8.6.2 Historical Trend (2018-2022)
8.8.6.3 Forecast Trend (2023-2028)
8.8.7 Oil, Gas and Mining
8.8.7.1 Market Share
8.8.7.2 Historical Trend (2018-2022)
8.8.7.3 Forecast Trend (2023-2028)
8.8.8 Others
8.9 Global Thermoelectric Modules Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Ferrotec (USA) Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Laird PLC
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 II-VI Incorporated
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 TE Technology, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 TEC Microsystems GmbH
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Crystal Ltd.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Thermoelectric Modules Market: Key Industry Highlights, 2018 and 2028
2. Global Thermoelectric Modules Historical Market: Breakup by Technology (USD Million), 2018-2022
3. Global Thermoelectric Modules Market Forecast: Breakup by Technology (USD Million), 2023-2028
4. Global Thermoelectric Modules Historical Market: Breakup by Component (USD Million), 2018-2022
5. Global Thermoelectric Modules Market Forecast: Breakup by Component (USD Million), 2023-2028
6. Global Thermoelectric Modules Historical Market: Breakup by Type (USD Million), 2018-2022
7. Global Thermoelectric Modules Market Forecast: Breakup by Type (USD Million), 2023-2028
8. Global Thermoelectric Modules Historical Market: Breakup by Functionality (USD Million), 2018-2022
9. Global Thermoelectric Modules Market Forecast: Breakup by Functionality (USD Million), 2023-2028
10. Global Thermoelectric Modules Historical Market: Breakup by End Use (USD Million), 2018-2022
11. Global Thermoelectric Modules Market Forecast: Breakup by End Use (USD Million), 2023-2028
12. Global Thermoelectric Modules Historical Market: Breakup by Region (USD Million), 2018-2022
13. Global Thermoelectric Modules Market Forecast: Breakup by Region (USD Million), 2023-2028
14. North America Thermoelectric Modules Historical Market: Breakup by Country (USD Million), 2018-2022
15. North America Thermoelectric Modules Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Europe Thermoelectric Modules Historical Market: Breakup by Country (USD Million), 2018-2022
17. Europe Thermoelectric Modules Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Asia Pacific Thermoelectric Modules Historical Market: Breakup by Country (USD Million), 2018-2022
19. Asia Pacific Thermoelectric Modules Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Latin America Thermoelectric Modules Historical Market: Breakup by Country (USD Million), 2018-2022
21. Latin America Thermoelectric Modules Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Middle East and Africa Thermoelectric Modules Historical Market: Breakup by Country (USD Million), 2018-2022
23. Middle East and Africa Thermoelectric Modules Market Forecast: Breakup by Country (USD Million), 2023-2028
24. Global Thermoelectric Modules Market Structure
Key Questions Answered in the Report
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.
Analyst Review
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 2023-2028, 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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