According to Stratistics MRC, the Global Thermoelectric Modules Market is accounted for $489.54 million in 2020 and is expected to reach $1,057.04 million by 2028 growing at a CAGR of 10.1% during the forecast period. Benefits of TEMs over conventional systems and simultaneous heating & cooling properties of TEMs are the major factors propelling the market growth. However, inherent disadvantages, design complexities and high costs compared to traditional heating/cooling systems are hampering the market growth.
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By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the large-scale manufacturing mainly in China and significant investments in new vehicle technologies including electric vehicles, LiDAR, and autonomous vehicles. The fast growth of luxury vehicles in China equipped with features such as heated/cooled seats, cooled glove boxes, and mini freezers is expected to drive the market for thermoelectric modules in the automotive segment. Japanese automotive manufacturers such as Toyota (Japan) and Honda (Japan) are fusing electrification technology for their vehicles, which is expected to facilitate the demand for thermoelectric modules in electric vehicles.
Some of the key players profiled in the Thermoelectric Modules Market include Align Sourcing, Crystal Ltd., Ferrotec Holdings Corp., Guangdong Fuxin Technology, HiTECH Technologies, Hi-Z Technology Inc., II-VI Inc, KELK Ltd., Kryotherm, Kyocera Corporation, Laird Thermal Systems, Phononic, TE Technology, TEC Microsystems, Thermonamic Electronics (Jiangxi) Corp. Ltd, Wellen Technology Co. Ltd., Xiamen Hicool Electronics Co. Ltd, and Z-Max.
Types Covered:
• Bulk Thermoelectric Modules
• Micro Thermoelectric Modules
• Thin-Film Thermoelectric Modules
Functionalities Covered:
• Deep Cooling
• General Purpose
Offerings Covered:
• Hardware
• Software & Services
Models Covered:
• Multi Stage
• Single Stage
Materials Covered:
• Bismuth Telluride (Bi2Te3)
• Lead Telluride (PbTe)
• Silicon Germanium (SiGe)
Applications Covered:
• Analytical Instrumentation
• Electronics and Safety Systems
• Refrigeration and Cryogenics
• Thermal Cycling
• Detectors
• Commercial
• Government
End Users Covered:
• Consumer Electronics
• Industrial
• Telecommunications
• Automotive
• Medical & Laboratories
• Aerospace & Defense
• Oil, Gas and Mining
• Food and Beverages
• Energy and Utility
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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