Portland, OR, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global thermoelectric modules market was estimated at $615.2 million in 2021, and is expected to hit $1.3 billion by 2031, registering a CAGR of 8.34% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Table
Covid-19 Scenario
• Several restrictions on construction activities during the pandemic impacted the global thermoelectric modules market negatively.
• The funds allocated by the governments for the construction of thermoelectric modules were held back as the funds were majorly being used in medical facilities when needed. However, the market has now got back on track.
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The global thermoelectric modules market is analyzed across providers, model, type, end-use application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report
By model, the single stage segment held the largest share in 2021, garnering nearly half of the global thermoelectric modules market revenue, and is projected to maintain its dominance by 2031. In addition, single stage segment, would showcase the fastest CAGR of 8.78% during the forecast period.
By type, the bulk thermoelectric module segment contributed to the largest global thermoelectric modules share in 2021 and is projected to rule the roost by 2031. Simultaneously, the bulk thermoelectric module segment is projected to display the fastest CAGR of 9.05% throughout the forecast period.
By end-use application, the consumer electronics segment accounted for the highest share in 2021, generating nearly three-fourths of the global thermoelectric modules market revenue. The food and beverage segment, simultaneously, would portray the fastest CAGR of 8.73% during the forecast period.
By region, the market across Asia-Pacific held the major share in 2021. Additionally, Asia-Pacific would showcase the fastest CAGR of 9.19% from 2022 to 2031
The key market players analyzed in the global thermoelectric modules market report include II-VI Incorporated, Laird Thermal Systems, TE Technology Inc., TEC Microsystem GmbH, Kryotherm, Ferrotec Corporation, Crystal Ltd., KELK Ltd., Phononic Devices, Guangdong Fuxin Technology. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Thermoelectric modules market analysis from 2021 to 2031 to identify the prevailing Thermoelectric modules market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the Thermoelectric modules market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Thermoelectric modules market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
Model
- Single Stage
- Multi Stage
Type
- Bulk Thermoelectric Modules
- Micro Thermoelectric Modules
- Thin-Film Thermoelectric Modules
End-Use Application
- Others
- Aerospace and Defense
- Automotive
- Consumer Electronics
- Healthcare
- Food and Beverage
- Energy and Utility
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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