Thermoelectric Devices Market - Analysis by Type, by Application - Growth Trends and Forecasts (2015-2020)
The Global Thermoelectric Devices Market is expected to grow at a CAGR of XX percent and reach USD XX Million in 2020 form USD XX Million in 2015.
A thermoelectric device operates on the thermoelectric effect, and directly converts a temperature difference to an electric voltage (Seebeck Effect) or vice versa (Peltier Effect). Although thermoelectric effect was discovered in 1821 by Thomas Seebeck, commercialization of this phenomena was sluggish because of inefficient thermoelectric materials. As of today, thermoelectric devices are increasingly seeing application in sensors and refrigeration industry. Technological advances in Nano science has made atomic restructuring possible which has given rise to a new generation of thermoelectric materials; for example, Bismuth Telluride, half Heusler materials and Skutterudites show pretty good thermoelectric effect at room temperature.
Thermoelectric devices hold various advantages. The lack moving parts, which in turn means that the maintenance cost of these devices are very low or negligible. Thermoelectric coolers which operate on the Peltier Effect have various advantages over vapour-compression refrigerators like the lack of circulating fluid (which in turn means no leaks) and a flexibility in shape. Thermoelectric devices also find application across a variety of domains such as in consumer products, products for scientific applications etc. The major factors hindering the growth of the thermoelectric devices market are their high cost and low efficiency. The market still has to overcome the inefficiency hurdle on a commercial scale to make the thermoelectric materials an attractive proposition. Active research and development activity going on around the world are aimed at countering these restraints. Nanotechnology is also helping this technology achieve breakthroughs. Thermoelectric devices have the potential to find wide application in waste heat recovery.
Key Deliverables in the Study
Market definition along with the identification of key drivers, restraints and opportunities
Market analysis for the thermoelectric devices market with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Insights on the major countries/regions in which this industry is growing and to also identify the regions that are still untapped.
Extensively researched competitive landscape section along with list of key companies and their market shares.
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