The Global Thermoelectric Devices Market was valued at US$246.06 million in 2016 and is expected Reach $81.2 Million by 2023 growing at a CAGR of 8.76% during the forecast period. Thermoelectric effect is the conversion of temperature differences between two surface to its electric counterpart. Thus, it creates an electric potential difference and, vice-versa. On a molecular level, the temperature difference causes the entropy of the system to increase and hence, the flow of electrons.
Thermoelectric effect can be represented by three different effects:
Seebeck Effect- Temperature difference between two uncommon semiconductors causes a potential difference
Peltier Effect- Here, heat is either absorbed or evolved by passing of an electric current across the junction.
Thomson Effect- Temperature change of a gas or liquid when forced through a valve at high pressure and insulated.
Technological advancements, government policies to reduce waste energy and the insufficiency of energy transfer has allured huge investments in this segment. Moreover, working electrically, without moving parts makes it maintenance free and hence flexible and widely acceptable. However, its high cost and low efficiency has posed a major hurdle in its breakthrough.
Thermoelectric Devices are widely categorized by its type and its effect.
Bulk Thermoelectric modules
Micro Thermoelectric modules
Thin film thermoelectric modules
Micro Thermoelectric devices are widely accepted in the market due to its high allowance of thermocouples for a given size. Its dimensions are less than 1.00 mm2.
Thomson Effect (Joule-Kelvin Effect)
The thermoelectric devices market is analyzed on the basis of geography, which includes North America, Europe, Asia-Pacific, and LAMEA. North America generated the highest revenue in the global market in 2015 due to higher technological advancements. However, Asia-Pacific is touted to grow at the highest rate attributing to an increase in waste heat recovery demand in China and India.
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Some of the major players in the market include Yamaha Corporation, Ferrotec Corporation, Gentherm Global Power Technologies, Evident Thermoelectrics, RMT Ltd., KELK Ltd., II-VI Marlow, Inc., Perpetua Power Source Technologies, Inc.,Romny Scientific, Inc.,Laird Technologies, Inc., RGS Development, B.V. Tellurex Corporation, and Micropelt GmbH, etc.
The report contains comprehensive analysis on:
Thermoelectric Devices Market Segments
Thermoelectric Devices Market Drivers, Restraints and Opportunities
Thermoelectric Devices Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Thermoelectric Devices Market Current Trends
Competition &Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Thermoelectric Devices Market includes
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
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Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
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