Wilmington, Delaware, United States, July 11, 2022 (GLOBE NEWSWIRE) -- A research report by Transparency Market Research (TMR) states that the global thermoelectric module market is estimated to grow at a CAGR of 7.9% during the forecast period from 2022 to 2031.
The application of thermoelectric module is observed in different types of equipment such as automotive electronics & safety systems, analytical instrumentation, thermal cycling, biomedical equipment, refrigeration & cryogenics, and industrial equipment. This wide product application is driving the expansion in the thermoelectric module market.
Thermoelectric cooler modules are being utilized in different types of electronic devices including mini-refrigerators, air conditioners, and wine cabinets. The main function of these modules is to offer temperature and cooling control in diverse applications. These modules are gaining impetus owing to their different advantages such as small size, lightweightness, and presence of no moving parts.
Companies in the global thermoelectric module market are increasing efforts to develop next-gen products. Moreover, several enterprises are focusing on the development of best peltier module for cooling. Besides, players are concentrating on the new product launches. These factors are prognosticated to drive the growth in the thermoelectric module market in the forthcoming years, notes a TMR study.
Get PDF Brochure for More Insights - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=5444
Thermoelectric Module Market: Key Findings
- Thermoelectric modules are gaining traction owing to their ability to provide highly precise temperature control, low maintenance, heating and cooling with the same module (including temperature cycling), minimum weight, and miniature size. Hence, a rise in the product adoption across different end-use industries including the automotive, aerospace & defense, healthcare, consumer electronics, energy & utility, and food & beverage is generating profitable prospects for thermoelectric module manufacturers & suppliers.
- Players in the thermoelectric module market are prognosticated to gain profitable avenues owing to an increase in the demand for thermal management from autonomous systems of vehicles. The thermoelectric technology assists in operating all sensitive devices within its temperature range as well as advances its performance.
- The market players are developing highly advanced thermoelectric module & thermoelectric Peltier modules owing to rising trends of miniaturization of devices and rise in the use of smart devices, smart wearable devices, portable medical devices, IoT ecosystems, autonomous vehicles, and Industry 4.0. Moreover, an increase in the use of faster temperature controlling and sensing together with extensive sensitivity in biomedical devices, consumer appliances, and optical elements is driving the sales growth in the thermoelectric module market, which is estimated to surpass a value of US$ 1.2 Bn by the end of 2031.
Thermoelectric Module Market: Growth Boosters
- Surge in the need for precise temperature control of imaging and diagnostic systems as well as medical devices is leading to revenue-generation avenues in the market
- Increasing digitalization and urbanization, investments in Industry 4.0 & advanced factory automation, and rising penetration of Internet of Things (IoT) are fueling the growth in the market
Request Sample Report at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5444
Thermoelectric Module Market: Regional Analysis
- Asia Pacific is projected to maintain prominent position in the thermoelectric module market during the forecast period owing to factors such as rise in the use of thermoelectric module in the automotive and consumer electronics industries
- The thermoelectric module market is prognosticated to attract profitable prospects in Europe and North America owing to factors such as surge in the cooling capacity demands for varied industrial equipment including liquid chromatography, industrial lasers, and semiconductor fabrication with minimum temperature control range of -80°C to +150°C
Get COVID-19 Impact Analysis at - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=5444
Thermoelectric Module Market: Key Players
Some of the key players profiled in the report are:
- EVERREDtronics Ltd
- Crystal Ltd
- GENTHERM
- Ferrotec Holding Corporation
- Hi-Z Technology Inc.
- Guangdong Fuxin Technology Co. Ltd
- KELK Ltd (Japan) (Komatsu Ltd)
- II-VI Marlow Inc.
- Laird Thermal Systems
- KRYOTHERM
- RMT Ltd.
- Phononic
- TEC Microsystems GmbH
- TE Technology Inc.
- Thermonamic Electronics (Jiangxi) Corp.
- Thermion Company
- TOSHIBA MATERIALS CO., LTD
Make an Enquiry before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=5444
Thermoelectric Module Market Segmentation
Type
- Bulk (Standard) TEM
- Micro TEM
- Thin-film TEM
Material
- Bismuth Telluride (Bi2Te3)
- Lead Telluride (PbTe)
- Silicon Germanium (SiGe)
- Others (Including BiSb and PbSnTe)
Offering
- Hardware
- Services
- Material Processing & Analysis
- Repair & Exchange
- Others (Training, Maintenance Planning, etc.)
Model Type
- Single Stage
- Multi Stage
Application
- Analytical Instrumentation
- Automotive Electronics & Safety Systems
- Refrigeration & Cryogenics
- Thermal Cycling
- Others (Biomedical Equipment, Industrial Equipment, etc.)
End-use Industry
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Healthcare
- Food & Beverage
- Energy & Utility
- Others (IT &Telecommunication, Manufacturing, etc.)
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Electronics & Semiconductors Research Reports
Application Specific Integrated Circuits Market- Application Specific Integrated Circuit (ASIC) Market to reach US$ 34.49 Bn by the end of 2031
Electronic Access Control Systems Market- Electronic Access Control Systems Market is expected to cross the value of US$ 17.79 Bn by the end of 2031
Solid State Drive Market- Solid State Drive Market is expected to cross the value of US$ 178 Bn by the end of 2031
Microcontrollers Market- Microcontrollers Market is expected to reach the value of US$ 54.37 Bn by the end of 2031
Power Management Integrated Circuit (PMIC) Market- Power Management Integrated Circuit (PMIC) Market is expected to cross the value of US$ 128.40 Bn by the end of 2031.
FPGA Market- Field-Programmable Gate Array (FPGA) Market to cross US$ 13.6 Bn by the end of 2031
Diamond Substrate Market- Diamond Substrate Market is projected to reach US$ 282.38 Mn by 2031
Fiber Optic Connectors Market- Fiber Optic Connectors Market to Expand at a CAGR of 7.5% by 2025
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers the latest market research reports and business consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel –
https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact Us:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
