Global Thermoelectric Modules Market (2021-2026) by Model, Type, Functionality, End-Use Application, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Thermoelectric Modules Market is estimated to be USD 682.5 Mn in 2021 and is expected to reach USD 1071.97 Mn by 2026, growing at a CAGR of 9.45%

Market Dynamics

A thermoelectric (TE) module, also known as a thermoelectric cooler or Peltier cooler, is a semiconductor-based electrical component that acts as a tiny heat pump, transferring heat from one side of the device to the other. It can also create power by utilizing a temperature difference between the two sides of the module.

Thermoelectric modules provide temperature cooling in various applications such as automotive, consumer electronics, bio-monitoring, healthcare-related equipment, telecommunications, and military, among others. It is one of the key reasons driving the global growth of the thermoelectric module market. Furthermore, thermoelectric modules have reduced power consumption, faster reaction time, control, and cycling, which results in an increased rate of acceptance of this module in various sectors, which is likely to drive the market's growth. On the other hand, the modules' high cost and lesser efficiency compared to traditional refrigeration and cooling systems are expected to limit the market's growth throughout the projected period. Furthermore, developing improvements in thermoelectric modules to boost efficiency and reduce cost is expected to provide many possibilities in the upcoming years.

The high cost and low efficiency of thermoelectric modules, on the other hand, are issues restricting the market's growth.

Market Segmentation

The Global Thermoelectric Modules Market is segmented further based on Model, Type, Functionality, End-Use Application, and Geography.

By Model, the market is classified into Single Stage and Multi-Stage.

By Type, the market is classified into Bulk Thermoelectric Modules, Micro Thermoelectric Modules, and Thin-Film Thermoelectric Modules.

By Functionality, the market is classified into General Purpose and Deep Cooling.

By End-Use, the market is classified into Consumer Electronics, Industrial, Telecommunications, Automotive, Medical & Laboratories, Aerospace & Defense, Oil & Gas, and Mining.

By Geography, Asia Pacific is projected to lead the market.

Recent Developments

1. Ferrotec Acquires MeiVac, Inc-2nd Jul 2020
2. Hitachi High-Technologies Acquires All Shares of Applied Physics Technologies, Inc., a U.S. Manufacturer of Electron Sources-16th Jan 2019

Company Profiles

Some of the companies covered in this report are Align Sourcing, Crystal Thermotech, EVERREDtronics, Hi-Z Technology, II-VI Incorporated, KELK Ltd, Kryotherm, Phononic, etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Thermoelectric Modules Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market