Thermoelectric Modules Market Introduction and Overview
According to SPER Market Research, the Global Thermoelectric Modules Market is estimated to reach USD 0.76 billion by 2033 with a CAGR of 12.21%.
The report includes an in-depth analysis of the Global Thermoelectric Modules Market, including market size and trends, product mix, applications, and supplier analysis. Thermoelectric (TE) modules, sometimes referred to as thermoelectric coolers or Peltier coolers, are semiconductor-based electrical parts that move heat from one side of the device to the other like tiny heat pumps. Peltier thermoelectric coolers exploit the difference in temperature between the module's two sides to produce power. Thermoelectric Peltier modules, which handle thermal concerns in car infotainment systems and heads-up displays (HUDs), improve thermal insulation of critical electronics to guarantee maximum performance. Thermoelectric technology maximizes the operation of each sensitive equipment by keeping it operating within its temperature range.
- July 2021: The improved OptoTEC OTX/HTX Series of tiny thermoelectric coolers was introduced by Laird Thermal Systems and is intended for high-temperature settings encountered in industrial, photonics, telecom, and autonomous applications. The OptoTEC OTX/HTX Series, which uses next-generation thermoelectric materials, outperforms conventional thermoelectric coolers in terms of efficiency, temperature difference, and cooling capacity, offering a 10% increase.
- July 2020: TEC Microsystems produced the new 1MA10 Series of thermoelectric coolers, featuring aluminum plates instead of ceramics. Instead of ceramic plates, all 1MA10 thermoelectric coolers use bare metal aluminum plates. The key to TEC manufacturing is the use of aluminum rather than ceramics.
Market Opportunities and Challenges
Over the past 20 years, there has been a rise in the need for renewable energy. Finding affordable and environmentally friendly alternative energy producing technology is therefore becoming more and more important. One method of producing electricity without using fuel is thermoelectric technology, which converts heat directly into electrical power. A thermoelectric cooler's main function is to use electricity to transfer heat and chill a surface. The temperature difference between the surfaces can be used to generate electricity by flipping the process. The market for thermoelectric modules is expanding due to the various uses for these modules. The global market for thermoelectric modules may not grow as quickly as it could due to factors like low efficiency and high cost. Because they are unable to use the technology, small and medium-sized businesses have suffered as a result. Its high maintenance and repair costs would further impede the market expansion for thermoelectric modules.
Market Competitive Landscape
The global demand for thermoelectric modules is met by a small number of players in a consolidated market. Leading industry participants have employed diverse approaches, including procurement, contracting, business growth, business extension, cooperation and product introduction, novelty, and product extension, to enhance their presence in the thermoelectric module industry. Crystal Ltd., Ferrotec Corporation, II-VI Incorporated, KELK Ltd., KRYOTHERM, Laird Technologies, RMT Ltd., TE Technology Inc., TEC Microsystems GmbH, Thermonamic Electronics (Jiangxi) Corp. Ltd. are some of the major companies involved in the Global Thermoelectric Modules Market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Model, By Type, By End User.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Crystal Ltd., Ferrotec Corporation, II-VI Incorporated, KELK Ltd., KRYOTHERM, Laird Technologies, RMT Ltd., TE Technology Inc., TEC Microsystems GmbH, Thermonamic Electronics (Jiangxi) Corp. Ltd.
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COVID-19 Impact on Global Thermoelectric Modules Market
The manufacture of thermoelectric coolers was severely impacted by the closure of semiconductor and electronics equipment manufacturing after the global lockdown due to COVID-19 pandemic. The necessity for thermoelectric coolers arose from the various vaccination campaigns launched by local government entities to combat COVID-19. These campaigns raised the need for cold storage to hold vaccines. Additionally, as more IT and telecom workers worked remotely, the need for servers and data centres expanded, driving up the market for thermoelectric coolers in the IT and telecom sector. Certain opportunities for thermoelectric cooler modules led to an increase in revenue creation progressively as many counties intended to reopen for businesses.
Key Target Audience:
- Lubricant Manufacturers and Suppliers
- Oil and Gas Companies,
- Investors and Financial Analyst.
Our in-depth analysis of the Thermoelectric Modules Market includes the following segments:
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By Model: |
Multi Stage
Single Stage
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By Type: |
Bulk
Micro
Thin Film
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By End User: |
Aerospace and Defense
Automotive
Consumer Electronic
Healthcare
IT and Telecom
Manufacturing and Industrial
Oil and Gas
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Key Topics Covered in the Report:
- Global Thermoelectric Modules Market Size (FY’2023-FY’2033)
- Overview of Global Thermoelectric Modules Market.
- Segmentation of Global Thermoelectric Modules Market By Model (Multi Stage, Single Stage).
- Segmentation of Global Thermoelectric Modules Market By Type (Bulk, Micro, Thin Film).
- Segmentation of Global Thermoelectric Modules Market By End User (Aerospace and Defense, Automotive, Consumer Electronic, Healthcare, IT and Telecom, Manufacturing and Industrial, Oil and Gas, Others).
- Statistical Snap of Global Thermoelectric Modules Market
- Expansion Analysis of Global Thermoelectric Modules Market
- Problems and Obstacles in Global Thermoelectric Modules Market
- Competitive Landscape in the Global Thermoelectric Modules Market
- Impact of COVID-19 and Demonetization on Global Thermoelectric Modules Market
- Details on Current Investment in Global Thermoelectric Modules Market
- Competitive Analysis of Global Thermoelectric Modules Market
- Prominent Players in the Global Thermoelectric Modules Market
- SWOT Analysis of Global Thermoelectric Modules Market
- Global Thermoelectric Modules Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts on the Global Thermoelectric Modules Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Thermoelectric Modules Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Thermoelectric Modules Market
7. Global Thermoelectric Modules Market, By Model (USD Million)
7.1. Global Thermoelectric Modules Market Value Share and Forecast, By Model, 2023-2033
7.2. Multi Stage
7.3. Single Stage
8. Global Thermoelectric Modules Market, By Type (USD Million)
8.1. Global Thermoelectric Modules Market Value Share and Forecast, By Sales Channel, 2023-2033
8.2. Bulk
8.3. Micro
8.4. Thin Film
9. Global Thermoelectric Modules Market, By End User (USD Million)
9.1. Global Thermoelectric Modules Market Value Share and Forecast, By Engine Type, 2023-2033
9.2. Aerospace and Defense
9.3. Automotive
9.4. Consumer Electronic
9.5. Healthcare
9.6. IT and Telecom
9.7. Manufacturing and Industrial
9.8. Oil and Gas
9.9. Others
10. Global Thermoelectric Modules Market Forecast, 2019-2033 (USD Million)
10.1. Global Thermoelectric Modules Market Size and Market Share
11. Global Thermoelectric Modules Market, By Model 2019-2033 (USD Million)
11.1. Global Thermoelectric Modules Market Size and Market Share by Model (2019-2026)
11.2. Global Thermoelectric Modules Market Size and Market Share by Model (2027-2033)
12. Global Thermoelectric Modules Market, By Type, 2019-2033 (USD Million)
12.1. Global Thermoelectric Modules Market Size and Market Share by Type (2019-2026)
12.2. Global Thermoelectric Modules Market Size and Market Share by Type (2027-2033)
13. Global Thermoelectric Modules Market, By End User, 2019-2033 (USD Million)
13.1. Global Thermoelectric Modules Market Size and Market Share by End User (2019-2026)
13.2. Global Thermoelectric Modules Market Size and Market Share by End User (2027-2033)
14. Global Thermoelectric Modules Market, By Region, 2019-2033 (USD Million)
14.1. Global Thermoelectric Modules Market Size and Market Share by Region (2019-2026)
14.2. Global Thermoelectric Modules Market Size and Market Share by Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Crystal Ltd.
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Ferrotec Corporation
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. II-VI Incorporated
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. KELK Ltd.
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. KRYOTHERM
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Laird Technologies
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. RMT Ltd.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. TE Technology Inc.
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. TEC Microsystems GmbH
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Thermonamic Electronics (Jiangxi) Corp. Ltd.
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
