Global Thermoelectric Devices Market

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  • Published Date:
    17 Jul 2021
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    Energy & Power
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Impact Analysis on the Growth of Market

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Market Overview:


The Global Thermoelectric Devices Market was valued at US$ XX Mn in 2016 and is expected to reach US$ XX Mn by 2022 growing at a CAGR of XX% during the forecast period. Thermoelectric effect is the conversion of temperature differences between two surface to its electric counterpart. Thus, it creates an electric potential difference and, vice-versa. On a molecular level, the temperature difference causes the entropy of the system to increase and hence, the flow of electrons.
Thermoelectric effect can be represented by three different effects:
Seebeck Effect- Temperature difference between two uncommon semiconductors causes a potential diffence
Peltier Effect- Here, heat is either absorbed or evolved by passing of an electric current across the junction.
Thomson Effect- Temperature change of a gas or liquid when forced through a valve at high pressure and insulated.
Market Dynamics
Technological advancements, government policies to reduce waste energy and the insufficiency of energy transfer has allured huge investments in this segment. Moreover, working electrically, without moving parts makes it maintenance free and hence flexible and widely acceptable. However, its high cost and low efficiency has posed a major hurdle in its breakthrough.
Market Segmentation
Thermoelectric Devices are widely categorized by its type and its effect.
Bulk Thermoelectric modules
Micro Thermoelectric modules
Thin film thermoelectric modules
Micro Thermoelectric devices are widely accepted in the market due to its high allowance of thermocouples for a given size. Its dimensions are less than 1.00 mm2.
Seebeck Effect
Peltier Effect
Thomson Effect (Joule-Kelvin Effect)
Regional/Geographic Analysis
The thermoelectric devices market is analyzed on the basis of geography, which includes North America, Europe, Asia-Pacific, and LAMEA. North America generated the highest revenue in the global market in 2015 due to higher technological advancements. However, Asia-Pacific is touted to grow at the highest rate attributing to an increase in waste heat recovery demand in China and India.
Key players
Some of the major players in the market include Yamaha Corporation, Ferrotec Corporation, Gentherm Global Power Technologies, Evident Thermoelectrics, RMT Ltd., KELK Ltd., II-VI Marlow, Inc., Perpetua Power Source Technologies, Inc.,Romny Scientific, Inc.,Laird Technologies, Inc., RGS Development, B.V. Tellurex Corporation, and Micropelt GmbH, etc.
The report contains comprehensive analysis on:
Thermoelectric Devices Market Segments
Thermoelectric Devices Market Drivers, Restraints and Opportunities
Thermoelectric Devices Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Thermoelectric Devices Market Current Trends
Competition &Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Thermoelectric Devices Market includes
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Rest of Eastern Europe
Asia Pacific
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Report Highlights:
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook


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