Thermoelectric Modules is also known as thermoelectric cooler. This is commonly used in consumer electronics. These pumps operate on Peltier effect, which functions as heat pump transferring heat from one side to another side of the device.
Thermoelectric Modules are anticipated to grow in the forecast period. Thermoelectric modules market is likely to increase owing to its benefits over conventional systems. The heating & cooling of thermoelectric modules cater the demand of numerous applications. Rising electronic vehicle market, escalating government focus along with adoption of renewable energy sources is expected to boost growth for thermoelectric modules industry. Moreover, the market will also unfold new avenue in this space with the development of thermoelectric modules for new application along with the notion of converting heat into electricity. Additionally, bulk thermoelectric is anticipated to boost market growth and is likely to hold significant share in the market during forecast period, due to the benefits it offers, such as highest power voltage and output compared with thin and micro -film thermoelectric modules. Furthermore, these thermoelectric modules are most commonly used for end-use applications which include medical & laboratories, telecommunications, consumer electronics, aerospace & defense and industrial. Also, such modules can rapidly cool or warman object by producing a temperature differential through the induction of an electric current; they also have the capacity can provide power ranging between mill watts to some kilowatts. The key manufacturers of these products are LAIRD (UK), Ferrotec (US), TEC Microsystems (Germany and RMT ltd. (Russia).
The thermoelectric modules market is segmented into type, mode, functionality and end-use. The end-use segment is anticipated to support market growth for thermoelectric modules in the predicted period. The end-use segment is bifurcated into consumer electronics, telecommunications, automotive, industrial, medical & laboratories, aerospace & defense and oil & gas. Consumer electronics is anticipated to boost the demand for thermoelectric modules. Owing to the environmental concern related to point of use dispensers and bottled water has appeared as an advantage for residential and commercial space. Consequently, to attain the demand for appropriate temperature effect, the growth for thermoelectric modules market will boost in the years ahead. Certain companies such as LAIRD, II-VI Marlow and Ferrotec provide thermoelectric modules for consumer application.
Thermoelectric modules market on the basis of Asia Pacific is likely to witness growth in the projected years. Asia Pacific is considered to be the fasted growing region for most of the application such as consumer electronics, automotive, oil& gas and industrial. This is expected to drive market growth in the forecast period.
Major players in the market are opting organic and inorganic strategies to stay in the competition. Noticeable players included in thermoelectric modules market report are Laird Thermal Systems, Corporation, Ferrotec, TE Technology Inc.,II-VI Marlow, Crystal Ltd, TEC Microsystems GmbH, RMT Ltd., Kryotherm and Thermion Company among others.
The report segment of global thermoelectric modules market as follows:
Global Thermoelectric Modules Market: Type Segment Analysis
Global Thermoelectric Modules Market: Mode Segment Analysis
Global Thermoelectric Modules Market: Functionality Segment Analysis
Global Thermoelectric Modules Market: End-use Segment Analysis
Global Thermoelectric Modules Market: Regional Segment Analysis