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Published Date: 2016-01-18Number of Pages: 146

Thermoelectric Modules Market (Technology - Single-stage and Multi-stage Thermoelectric Modules; Types - Bulk, Micro and Thin Film Modules) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

This report aims to provide a comprehensive strategic analysis of the global thermoelectric modules market along with the market revenue and growth forecast for the period from 2013 to 2023. Increasing demand for thermoelectric modules in various industries for cooling, heating, and energy generation majorly drives the global thermoelectric modules market. Thermoelectric modules are semiconductor elements that can instantly cool or warm an object by producing temperature differentials. Thermoelectric modules consists of semiconductor elements that are heavily doped with electrical carriers. These elements are arranged into array that are thermally connected in parallel and electrically connected in series. Demand for thermoelectric modules is primarily owing to their superior features, such as reliable solid state operation, compactness, and capacity for precise temperature control. Moreover, strong demand for thermoelectric modules in energy harvesting is expected to lead to the growth of the thermoelectric modules market. Manufacturers of thermoelectric modules focus on providing technologically advanced products to customers to ensure better work, greater reliability, and increased precision.

This research study on the global thermoelectric modules market provides a detailed analysis of how different regions across the globe are using thermoelectric modules for precise temperature control and power generation from waste heat. The report offers an in-depth study of the market drivers, restraints, and growth opportunities. Using these factors, the report identifies various trends expected to impact the market during the forecast period from 2015 to 2023. The report includes a comprehensive coverage of the underlying economic, environmental, and technological factors influencing the thermoelectric modules market. It also provides the competitive landscape of the key players in the thermoelectric modules market in order to highlight the prevalent competition in this market. The report also provides a detailed competitive analysis of the key players in the thermoelectric modules market and identifies various business strategies adopted by these leading players. The study explains the penetration of each market segment within various geographies, and how these segments have accelerated the growth of the thermoelectric modules market.

Based on technology, the thermoelectric modules market is segmented into single-stage and multi-stage thermoelectric modules. Based on type, the market is segmented into bulk, micro, and thin film thermoelectric modules. The report also provides information pertaining to different applications of bulk, micro, and thin film thermoelectric modules. On the basis of applications the market for bulk thermoelectric modules is segmented into consumer electronics, telecommunications, medicine and laboratories, automotive, defense and space, industrial applications, and energy harvesting applications. The study also includes various applications of micro thermoelectric modules, such as lasers and LEDs, photodiodes and arrays, detectors and sensors, medicine and laboratories, automotive, and energy harvesting applications. Moreover, based on applications, the market for thin film thermoelectric modules is segmented into consumer electronics, medicine and laboratories, automotive, detectors and sensors, energy harvesting, and other applications. The others segment includes aerospace and defense and industrial applications. The report aims to provide a comprehensive, cross-sectional analysis of the thermoelectric modules market across major geographical segments such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

The report includes an overview of the market strategies, annual revenues, and the recent developments of the key companies operating in the market. The key market participants profiled in the study include Ferrotec Corporation, Tellurex Corporation, Laird Technologies, Inc., RMT Ltd., Marlow Industries, TE Technology, Inc., KELK Ltd., Thermion Company, Kryotherm, EVERREDtronics Ltd., Micropelt GmbH, Green TEG AG, Hi-Z Technology, Inc., Ferrotec Nord Corporation, Align Sourcing LLC, Alphabet Energy, Inc., Xiamen Hicool Electronics Co., Ltd., Merit Technology Group Co., Ltd., and Z-MAX Co., Ltd. The report provides comprehensive analysis of the thermoelectric modules offered by these leading players. In-depth insights on research and development activities, new product launches, and upcoming technologies are also included in the report. 

Market Segmentation:

Thermoelectric Modules Market Analysis, by Technology

  • Single-stage
  • Multi-stage

Thermoelectric Modules Market Analysis, by Type

  • Bulk Thermoelectric Modules
  • Micro Thermoelectric Modules
  • Thin Film Thermoelectric Modules

Bulk Thermoelectric Modules Market Analysis, by Application

  • Consumer Electronics
  • Telecommunication
  • Medicine and Laboratories
  • Automotive
  • Defense and Space
  • Industrial Applications
  • Energy Harvesting

Micro Thermoelectric Modules Market Analysis, by Application

  • Lasers and LEDs
  • Photodiodes and Arrays
  • Detectors and Sensors
  • Medicine and Laboratories
  • Automotive
  • Energy Harvesting

Thin Film Thermoelectric Modules Market Analysis, by Application

  • Consumer Electronics
  • Medicine and Laboratories
  • Automotive
  • Detectors and Sensors
  • Energy Harvesting
  • Others

Thermoelectric Modules Market by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa (MEA)
  • Latin America


Chapter 1 Preface
1.1 Report Scope and Description
1.2 Market Segmentation: Global Thermoelectric Modules Market
1.3 Research Methodology

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Thermoelectric Modules Market (2014 and 2023)
2.2 Global Thermoelectric Modules Market, 2013 – 2023, Revenue (US$ Mn)
2.3 Global Thermoelectric Modules Market, by Technology, 2014 (US$ Mn)
2.4 Global Thermoelectric Modules Market, by Type, 2014 (US$ Mn)
2.5 Global Bulk Thermoelectric Modules Market, by Application, 2014 (US$ Mn)
2.6 Global Micro Thermoelectric Modules Market, by Application, 2014 (US$ Mn)
2.7 Global Thin Film Thermoelectric Modules Market, by Application, 2014 (US$ Mn)

Chapter 3 Global Thermoelectric Modules Market Analysis
3.1 Key Trends Analysis
      3.1.1 Quick and cost-effective customized solutions
      3.1.2 Use of advanced thermoelectric materials for manufacturing thermoelectric modules
      3.1.3 Increasing interest in green energy
      3.1.4 Focus on reducing the number of components outsourced to contract manufacturers
3.2 Market Dynamics
      3.2.1 Drivers
              3.2.1.1 High competitive advantages of thermoelectric modules over conventional products
              3.2.1.2 Increasing applications of thermoelectric modules in varied industries
      3.2.2 Restraints
              3.2.2.1 High cost as compared to conventional cooling and refrigeration systems
      3.2.3 Opportunities
              3.2.3.1 Waste heat recovery from industrial applications
              3.2.3.2 Increasing use of larger thermoelectric systems for certain applications
3.3 Global Thermoelectric Modules Market Analysis, By Technology, 2013 – 2023 (US$ Mn)
      3.3.1 Overview
              3.3.1.1 Global Thermoelectric Modules Market, By Technology, Segment Share, 2014 & 2023
      3.3.2 Single-stage Thermoelectric Modules
              3.3.2.1 Global Single-stage Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
      3.3.3 Multi-stage Thermoelectric Modules
              3.3.3.1 Global Multi-stage Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
3.4 Global Thermoelectric Modules Market Analysis, By Type, 2013 – 2023 (US$ Mn)
      3.4.1 Overview
              3.4.1.1 Global Thermoelectric Modules Market, by Type, Segment Share, 2014 & 2023
      3.4.2 Bulk (Standard) Thermoelectric Modules
              3.4.2.1 Global Bulk Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
      3.4.3 Micro Thermoelectric Modules
              3.4.3.1 Global Micro Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
      3.4.4 Thin Film Thermoelectric Modules
              3.4.4.1 Global Thin Film Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
3.5 Global  Bulk Thermoelectric Modules Market Analysis, By Application, 2013 – 2023 (US$ Mn)
      3.5.1 Overview
              3.5.1.1 Global Bulk Thermoelectric Modules Market, By Application, Segment Share, 2014 & 2023
3.6 Global Bulk Thermoelectric Modules Market Analysis, By Application, 2013 – 2023 (US$ Mn)
      3.6.1 Global Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
3.7 Global  Micro Thermoelectric Modules Market Analysis, By Application, 2013 – 2023 (US$ Mn)
      3.7.1 Overview
              3.7.1.1 Global Micro Thermoelectric Modules Market, By Application, Segment Share, 2014 & 2023
3.8 Global Micro Thermoelectric Modules Market Analysis, By Application, 2013 – 2023 (US$ Mn)
      3.8.1 Global Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
3.9 Global Thin Film Thermoelectric Modules Market Analysis, By Application, 2013 – 2023 (US$ Mn)
      3.9.1 Overview
              3.9.1.1 Global Thin Film Thermoelectric Modules Market, By Application, Segment Share, 2014 & 2023
3.10 Global Thin Film Thermoelectric Modules Market Analysis, By Application, 2013 – 2023 (US$ Mn)
      3.10.1 Global Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
3.11 Global Thermoelectric Modules Market Analysis, By Geography, 2013 – 2023 (US$ Mn)
      3.11.1 North America
              3.11.1.1 Overview
              3.11.1.2 Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
      3.11.2 Europe
              3.11.2.1 Overview
              3.11.2.2 Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
      3.11.3 Asia Pacific
              3.11.3.1 Overview
              3.11.3.2 Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
      3.11.4 Middle East and Africa (MEA)
              3.11.4.1 Overview
              3.11.4.2 Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
      3.11.5 Latin America
              3.11.5.1 Overview
              3.11.5.2 Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
3.12 Competitive Landscape
      3.12.1 Market Positioning of Key Players, 2014
      3.12.2 Competitive Strategies Adopted by Leading Players
      3.12.3 Recommendations

Chapter 4 North America Thermoelectric Modules Market Overview
4.1 Market Dynamics and Trends
4.2 North America Thermoelectric Modules Market Analysis, by Technology
      4.2.1 North America Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
      4.2.2 North America Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
4.3 North America Thermoelectric Modules Market Analysis, by Type
      4.3.1 North America Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
      4.3.2 North America Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
4.4 North America Bulk Thermoelectric Modules Market Analysis, by Application
      4.4.1 North America Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
4.5 North America Micro Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      4.5.1 North America Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
4.6 North America Thin Film Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      4.6.1 North America Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)

Chapter 5 Europe Thermoelectric Modules Market Overview
5.1 Market Dynamics and Trends
5.2 Europe Thermoelectric Modules Market Analysis, by Technology
      5.2.1 Europe Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
      5.2.2 Europe Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
5.3 Europe Thermoelectric Modules Market Analysis, by Type
      5.3.1 Europe Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
      5.3.2 Europe Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
5.4 Europe Bulk Thermoelectric Modules Market Analysis, by Application
      5.4.1 Europe Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
5.5 Europe Micro Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      5.5.1 Europe Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
5.6 Europe Thin Film Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      5.6.1 Europe Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)

Chapter 6 Asia Pacific Thermoelectric Modules Market Overview
6.1 Market Dynamics and Trends
6.2 Asia Pacific Thermoelectric Modules Market Analysis, by Technology
      6.2.1 Asia Pacific Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
      6.2.2 Asia Pacific Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
6.3 Asia Pacific Thermoelectric Modules Market Analysis, by Type
      6.3.1 Asia Pacific Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
      6.3.2 Asia Pacific Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
6.4 Asia Pacific Bulk Thermoelectric Modules Market Analysis, by Application
      6.4.1 Asia Pacific Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
6.5 Asia Pacific Micro Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      6.5.1 Asia Pacific Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
6.6 Asia Pacific Thin Film Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      6.6.1 Asia Pacific Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)

Chapter 7 Middle East and Africa Thermoelectric Modules Market Overview
7.1 Market Dynamics and Trends
7.2 Middle East and Africa Thermoelectric Modules Market Analysis, by Technology
      7.2.1 Middle East and Africa Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
      7.2.2 Middle East and Africa Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
7.3 Middle East and Africa Thermoelectric Modules Market Analysis, by Type
      7.3.1 Middle East and Africa Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
      7.3.2 Middle East and Africa Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
7.4 Middle East and Africa Bulk Thermoelectric Modules Market Analysis, by Application
      7.4.1 Middle East and Africa Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
7.5 Middle East and Africa Micro Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      7.5.1 Middle East and Africa Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
7.6 Middle East and Africa Thin Film Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      7.6.1 Middle East and Africa Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)

Chapter 8 Latin America Thermoelectric Modules Market Overview
8.1 Market Dynamics and Trends
8.2 Latin America Thermoelectric Modules Market Analysis, by Technology
      8.2.1 Latin America Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
      8.2.2 Latin America Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
8.3 Latin America Thermoelectric Modules Market Analysis, by Type
      8.3.1 Latin America Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
      8.3.2 Latin America Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
8.4 Latin America Bulk Thermoelectric Modules Market Analysis, by Application
      8.4.1 Latin America Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
8.5 Latin America Micro Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      8.5.1 Latin America Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
8.6 Latin America Thin Film Thermoelectric Modules Market Analysis, by Application, 2013 – 2023 (US$ Mn)
      8.6.1 Latin America Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)

Chapter 9 Company Profiles
9.1 Ferrotec Corporation
9.2 RMT Ltd.
9.3 Laird Technologies, Inc.
9.4 Tellurex Corporation
9.5 Marlow Industries
9.6 KELK Ltd.
9.7 Thermion Company
9.8 Gentherm Inc.
9.9 TE Technology, Inc.
9.10 Crystal Ltd.
9.11 Toshiba Materials Co., Ltd.
9.12 LG Innotek, Co., Ltd.
9.13 Thermonamic Electronics (Jianxi) Corp., Ltd.
9.14 Guangdong Fuxin Technology Co., Ltd.
9.15 EVERREDtronics Ltd.
9.16 Hebei International Trading (Shanghai) Co., Ltd.
9.17 Micropelt GmbH
9.18 Perpetua Power Source Technologies, Inc.
9.19 TEC Microsystems GmbH
9.20 GreenTEG AG
9.21 Hi-Z technology, Inc.
9.22 Ferrotec Nord Corporation
9.23 Panasonic Corporation
9.24 Beijing Huimao Cooling Equipment Co., Ltd.
9.25 Xiamen Hicool Electronics Co., Ltd.
9.26 Z-Max Co., Ltd.
9.27 Merit Technology Group, Co., Ltd.
9.28 Align Sourcing LLC
9.29 Alphabet Energy, Inc.
9.30 Wellen Technology Co., Ltd.
9.31 Scientific & Production Firm MODUL
9.32 Hotblock Onboard
9.33 Kryotherm

List of Figures

FIG. 1 Market Segmentation: Global Thermoelectric Modules Market
FIG. 2 Global Thermoelectric Modules Market, 2013 – 2023, Revenue (US$ Mn)
FIG. 3 Global Thermoelectric Modules Market, by Technology, 2014 (US$ Mn)
FIG. 4 Global Thermoelectric Modules Market, by Type, 2014 (US$ Mn)
FIG. 5 Global Bulk Thermoelectric Modules Market, by Application, 2014 (US$ Mn)
FIG. 6 Global Micro Thermoelectric Modules Market, by Application, 2014 (US$ Mn)
FIG. 7 Global Thin Film Thermoelectric Modules Market, by Application, 2014 (US$ Mn)
FIG. 8 Global Thermoelectric Modules Market, By Technology, Segment Share, 2014 & 2023
FIG. 9 Global Single-stage Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
FIG. 10 Global Multi-stage Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
FIG. 11 Global Thermoelectric Modules Market, by Type, Segment Share, 2014 & 2023
FIG. 12 Global Bulk Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
FIG. 13 Global Micro Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
FIG. 14 Global Thin Film Thermoelectric Modules Market, Revenue and Forecast, 2013 – 2023 (US$ Mn)
FIG. 15 Global Bulk Thermoelectric Modules Market, By Application, Segment Share, 2014 & 2023
FIG. 16 Global Micro Thermoelectric Modules Market, By Application, Segment Share, 2014 & 2023
FIG. 17 Global Thin Film Thermoelectric Modules Market, By Application, Segment Share, 2014 & 2023
FIG. 18 North America Thermoelectric Modules Market Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
FIG. 19 Europe Thermoelectric Modules Market Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
FIG. 20 Asia Pacific Thermoelectric Modules Market Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023 and Y-o-Y Growth (%), 2013 – 2023
FIG. 21 Middle East and Africa Thermoelectric Modules Market Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
FIG. 22 Latin America Thermoelectric Modules Market Revenue (US$ Mn) and Y-o-Y Growth (%), 2013 – 2023
FIG. 23 North America Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
FIG. 24 North America Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
FIG. 25 Europe Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
FIG. 26 Europe Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
FIG. 27 Asia Pacific Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
FIG. 28 Asia Pacific Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
FIG. 29 Middle East and Africa Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
FIG. 30 Middle East and Africa Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)
FIG. 31 Latin America Thermoelectric Modules Market Segment Share, by Technology, 2014 and 2023 (%)
FIG. 32 Latin America Thermoelectric Modules Market Segment Share, by Type, 2014 and 2023 (%)

List of Tables

TABLE 1 Market Snapshot: Global Thermoelectric Modules Market (2014 and 2023)
TABLE 2 Global Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 3 Global Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 4 Global Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 5 Market Positioning of Key Players, 2014
TABLE 6 North America Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
TABLE 7 North America Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
TABLE 8 North America Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 9 North America Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 10 North America Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 11 Europe Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
TABLE 12 Europe Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
TABLE 13 Europe Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 14 Europe Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 15 Europe Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 16 Asia Pacific Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
TABLE 17 Asia Pacific Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
TABLE 18 Asia Pacific Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 19 Asia Pacific Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 20 Asia Pacific Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 21 Middle East and Africa Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
TABLE 22 Middle East and Africa Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
TABLE 23 Middle East and Africa Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 24 Middle East and Africa Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 25 Middle East and Africa Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 26 Latin America Thermoelectric Modules Market Revenue and Forecast, by Technology, 2013 – 2023 (US$ Mn)
TABLE 27 Latin America Thermoelectric Modules Market Revenue and Forecast, by Type, 2013 – 2023 (US$ Mn)
TABLE 28 Latin America Bulk Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 29 Latin America Micro Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)
TABLE 30 Latin America Thin Film Thermoelectric Modules Market Revenue and Forecast, by Application, 2013 – 2023 (US$ Mn)

High competitive advantages of thermoelectric modules over conventional products and increasing applications of thermoelectric modules in varied industries is driving the global thermoelectric modules market, which is anticipated to expand at a CAGR of 9.5% during the forecast period from 2015 to 2023. The overall thermoelectric modules market was valued at US $364.1 Mn in 2014. The key drivers for the market include wide applications of thermoelectric modules across automotive, medical, semiconductor, laboratory, aerospace, defense, consumer electronics, and telecommunications industries.

The demand for thermoelectric modules globally, is driven by their superior advantages such as more precise temperature control, compact geometric size, reliable solid state operations, rapid temperature cycling, low power consumption, fully reversible switch in polarity, integrated design, and rapid response time. Moreover, thermoelectric modules do not have moving parts and operate noise-free, with highly reliable operation. They have high life time of up to 100,000 hours. Thermoelectric modules do not emit chlorofluorocarbons and are environmentally safe. The ability of thermoelectric modules to cool and heat by simple reversal of current flow is convenient for applications, even where precise temperature control of +/-0.1 degree Celsius is required. Due to high temperature stability of thermoelectric modules, they are mostly preferred in such applications. In addition, thermoelectric modules are more efficient than resistive heaters. Resistive devices create heat only by virtue of the power dissipated within them while thermoelectric modules not only pump heat into thermal load but also provide I2R heating. Thermoelectric modules can be used for applications that require heat removal ranging from milli-watts to several thousand watts. Due to these advantages, the demand for thermoelectric modules is expected to remain strong during the forecast period. However, high cost of thermoelectric systems as compared to conventional cooling and refrigeration systems is posing challenge to the market growth.

On the basis of technology, the global thermoelectric modules market is segmented into single-stage and multi-stage thermoelectric modules segments. In 2014, single-stage thermoelectric modules were the most preferred thermoelectric modules in the market. However, multi-stage thermoelectric modules are expected to expand at a substantial CAGR during the forecast period. This growth is due to the increasing use of multi-stage thermoelectric modules to provide significantly high temperature differentials. These thermoelectric modules are suitable for low-temperature applications where low or medium cooling capacity is required.

On the basis of type, the global thermoelectric modules market is segmented into bulk thermoelectric modules, micro thermoelectric modules and thin film thermoelectric modules. Bulk thermoelectric modules are the most commonly used types of thermoelectric modules for telecommunications, medical, aerospace, and industrial applications. Bulk thermoelectric modules, being the most common type of thermoelectric modules, dominated the global thermoelectric modules market in 2014. However, with the growing adoption of thin film thermoelectric modules across different applications, this segment is expected to witness highest growth during the forecast period. 

The global thermoelectric modules market is segmented on the basis of applications of bulk, micro and thin film thermoelectric modules. Key applications of bulk thermoelectric modules include consumer electronics, telecommunication, medicine and laboratories, automotive, defense and space, energy harvesting and industrial applications. In 2014, the consumer electronics segment accounted for largest revenue share among the applications of bulk thermoelectric modules. Micro thermoelectric modules are widely used in lasers and LEDs, detectors and sensors, automotive, medicine and laboratories and automotive applications. Moreover, key applications of thin film thermoelectric modules include laser diodes, laboratory instruments, CCD cameras and others. The detector and sensor application of thin film thermoelectric modules is predicted to hold its dominant position in the thin film application market throughout the forecast period.

Asia Pacific is the largest market for thermoelectric modules, globally. Growth of the thermoelectric modules market in Asia Pacific is mainly supported by the low manufacturing costs due to low labor and overhead costs and high demand for these modules across various applications.

 

thermoelectric-modules-market

 

The global thermoelectric modules market is consolidated, with a few major global companies dominating the market. The important strategy adopted by key players in the global thermoelectric modules market is the development of new products in order to address varying requirements of the customers. For instance, Ferrotec Corporation offers more than 1,700 different thermoelectric module types for varied applications. Kryotherm (Russia) makes more than 250 types of standard thermoelectric modules available to their customers. Moreover, manufacturers of thermoelectric modules are also focusing on inorganic growth through mergers and acquisitions. For instance in February 2013, Laird Technologies Inc. acquired the U.S. based thin film thermoelectric module manufacturer Nextreme Thermal Solutions, Inc. In 2005, Ferrotec Corporation acquired the majority shares of SCTB NORD Company, a supplier of thermoelectric modules based in Russia.

The global Thermoelectric modules market, in current situation shows the presence of key players including Ferrotec Corporation, Tellurex Corporation, Laird Technologies, Inc., RMT Ltd., Marlow Industries, TE Technology, Inc., KELK Ltd., Thermion Company, EVERREDtronics Ltd., Micropelt GmbH, Green TEG AG, Hi-Z Technology, Inc., Kryotherm and Ferrotec Nord Corporation.


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