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Global Thermoelectric Modules Market 2017-2021

Global Thermoelectric Modules Market 2017-2021

About Thermoelectric Modules

Thermoelectric modules are semiconductor cooling devices, which work using the movement of heat when current flows through the junction of two distinct metals. Therefore, when a low voltage DC power source is applied to the thermoelectric module, heat will be transferred from one side to the other via the module. These modules offer several advantages over the traditional cooling systems such as accurate temperature control and cycling, compact formfactor, energy efficiency, low power consumption, robust and durable design, fully reversible switch in polarity, and rapid response time. As a result of such benefits, thermoelectric modules find applications in automotive (climate control seats of automobiles), consumer electronics (ACs and dryers), aerospace and defense, healthcare (biotechnology), industrial (cooling chillers), and telecommunication (optical communications) sectors. However, the cost of these modules is expensive compared with the conventional cooling and refrigeration systems, which is hampering their adoption. Therefore, vendors will focus on developing cost-effective thermoelectric modules that offer efficiency, reliability, and increased precision to gain a competitive advantage in the market during the forecast period.

Technavio’s analysts forecast the global thermoelectric modules market to grow at a CAGR of 9.91% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global thermoelectric modules market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price (ASP) of the product.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Thermoelectric Modules Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Ferrotec
  • KELK
  • Laird
  • II-VI Marlow
Other prominent vendors
  • RMT
  • Tellurex
  • Thermion
  • TE Technology
Market driver
  • Increased construction activities
  • For a full, detailed list, view our report
Market challenge
  • Capital intensity of HVAC systems
  • For a full, detailed list, view our report
Market trend
  • Growing demand for smart homes and development of smart cities
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Technavio Announces the Publication of its Research Report – Global Thermoelectric Modules Market 2017-2021

Technavio recognizes the following companies as the key players in the global thermoelectric modules market: Ferrotec, KELK, Laird, and II-VI Marlow

Other Prominent Vendors in the market are: RMT, Tellurex, Thermion, and TE Technology.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing demand for smart homes and development of smart cities. The smart home concept is gaining ground rapidly as consumers look to improve domestic convenience through electronic devices. This is an evolutionary development in the residential real-estate sector with the primary aim to make a living more comfortable, convenient, secure, entertaining, and sustainable. At present, smart home technologies using advanced sensors are affordable and can be used by any average household to connect appliances such as heating modules, lighting systems, AC units, computers, television sets, entertainment systems, security devices, and camera systems. The home owner can control these devices using their smartphones and tablets.”

According to the report, one of the major drivers for this market is Increased construction activities. Development in the construction industry plays a significant role in boosting the global thermoelectric modules market. New construction in the residential, commercial, and industrial sectors have increased the demand for HVAC systems (that are integrated with thermoelectric modules), which improves building efficiencies, thus generating high revenue for the market. Innovations in building design and increased focus on energy efficiency for buildings have created an opportunity for thermoelectric module manufacturers to increase their market foothold.

Further, the report states that one of the major factors hindering the growth of this market is Capital intensity of HVAC systems. The global thermoelectric modules market is capital intensive. With the decline in the global economy, the thermoelectric modules market vendors face difficulty in investing heavily in R&D activities and marketing campaigns. Also, many end-users are struggling to purchase HVAC equipment as it requires a high initial investment. Many residential users in developing countries are facing a challenge in adopting domestic HVAC equipment such as household furnaces, ACs, and other HVAC equipment.

Companies Mentioned

Ferrotec, KELK, Laird, II-VI Marlow, RMT, Tellurex, Thermion, and TE Technology.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market Landscape
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition: Inclusions and exclusions checklist
    • Market sizing 2016
      • Table Market size 2016
      • Table Validation techniques employed for market sizing: 2016
    • Market size and forecast 2016-2021
      • Table Global - Market size and forecast 2016-2021 ($ mn)
      • Table Global - Year-over-year growth 2017-2021 (%)
  • Five forces analysis
    • Table Five forces analysis 2016
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition-Five forces 2016
  • Market segmentation by application
    • Segmentation by application
      • Table Application - Market share 2016-2021 (%)
    • Comparison by application
      • Table Comparison by application
    • Commercial - Market size and forecast 2016-2021
      • Table Commercial - Market size and forecast 2016-2021 ($ mn)
      • Table Commercial - Year-over-year growth 2017-2021 (%)
    • Government - Market size and forecast 2016- 2021
      • Table Government - Market size and forecast 2016-2021 ($ mn)
      • Table Government - Year-over-year growth 2017-2021 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Regional landscape
    • Geographical segmentation
      • Table Global - Market share by geography 2016-2021 (%)
    • Regional comparison
      • Table Regional comparison
    • APAC - Market size and forecast 2016-2021
      • Table APAC - Market size and forecast 2016-2021 ($ mn)
      • Table APAC - Year-over-year growth 2017-2021 (%)
      • Table Top three countries in APAC
    • Americas - Market size and forecast 2016-2021
      • Table Americas - Market size and forecast 2016-2021 ($ mn)
      • Table Americas - Year-over-year growth 2017-2021 (%)
      • Table Top two countries in Americas
    • EMEA - Market size and forecast 2016-2021
      • Table EMEA - Market size and forecast 2016-2021 ($ mn)
      • Table EMEA - Year-over-year growth 2017-2021 (%)
      • Table GDP of leading countries in Europe 2012-2015
      • Table Top two countries in EMEA
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table US budget and procurement expense 2014-2016 (millions)
      • Table Top 10 countries on military spending 2016 ($ billions)
      • Table Few advantages of using or being connected to IoT network
      • Table Program characteristics of WAP USA at inception
      • Table US DOE budget allocation ($)
    • Market challenges
  • Market trends
    • Growing demand for smart homes and development of smart cities
      • Table Smart home penetration regional share 2016-2021 (%)
    • Growing adoption in HEVs
    • Emergence of smart thermostats
  • Vendor landscape
    • Competitive scenario
    • Key vendors
    • Other prominent vendors
      • Table Other prominent vendors
  • Vendor analysis
    • Vendor overview
  • Appendix
    • List of abbreviations
  • Explore Technavio

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