About Thermoelectric Module
The thermoelectric module is composed of two ceramic sandwiching many pairs or couples of Bismuth Telluride dice. Generally, thermoelectric modules are made of alumina ceramic substrates. It contains thermally conductive and excellent electrical insulators. It is used for cooling thermal cycling and precision temperature control applications. It has numerous advantages such as noise-free operation, high-reliability potential, vibration-free operation, scalability, orientation-independence and compactness (high energy density). On 19th November 2018, LG Innotek announced the successful mass production of the thermoelectric module for table refrigerator. The company’s thermoelectric module is made by using LG’s own proprietary technology.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Thermoelectric Module market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Thermoelectric Module market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States and Russian Players will contribute the maximum growth to Global Thermoelectric Module market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ferrotec (USA) Corporation (United States), Laird Thermal Systems (United Kingdom), II-VI Marlow (United States), TE Technology, Inc. (United States), TEC Microsystems GmbH (Germany), Crystal Ltd (Russia), Kryotherm (Russia), RMT Ltd. (Russia), Thermion Company (Ukraine) and Thermonamic Electronics (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are KELK Ltd (Japan) and Guangdong Fuxin Technology Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Thermoelectric Module market by Type (Bulk Thermoelectric Modules, Thin-film Thermoelectric Modules and Micro Thermoelectric Modules), Application (Consumer Electronics, Telecommunications, Automotive, Industrial, Medical & Laboratories, Aerospace & Defense, Oil, Gas & Mining and Others) and Region.
On the basis of geography, the market of Thermoelectric Module has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Functionality, the sub-segment i.e. Deep Cooling Modules will boost the Thermoelectric Module market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Model, the sub-segment i.e. Single-stage will boost the Thermoelectric Module market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Hardware will boost the Thermoelectric Module market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of Thermoelectric Modules for New Application Arena
Market Growth Drivers:
High Demand of Thermoelectric Module for Numerous Industrial Applications and Rise in the Electric Vehicle Market Creates Demand of TE Module
Challenges:
Design Complexities Associated With Thermoelectric Modules
Restraints:
High Cost and Lower Efficiency Compared With Traditional Systems
Opportunities:
Growing Demand from Automotive and Industrial Sector and Increasing Adoption of Thermoelectric Modules in Developing Countries
Market Leaders and their expansionary development strategies
In August 2020, Laird Thermal Systems has developed a thermoelectric module series that is rated for high temperature in emerging optoelectronic applications. The HiTemp ETX Series thermoelectric cooler has a robust construction that allows it to survive in temperatures up to 150⁰C, exceeding most outdoor applications. It is assembled with advanced thermoelectric materials that boosts cooling capacity by up to 10% compared to traditional thermoelectric coolers. These solid-state heat pumps feature a higher thermal insulating barrier when compared to standard thermoelectric materials creating a maximum temperature differential (ΔT) of up to 83°C.
In September 2018, Ferrotec has launched Customized Thermoelectric Module Technology for Cooling and Heating Applications in Automobiles. Specific applications of Ferrotec-TEM technology include cooling and heating of batteries in electric and hybrid vehicles. The company’s high-performance thermoelectric modules are custom-designed devices offering highly responsive temperature control to within 0.1 degrees Celsius.
Key Target Audience
Thermoelectric Module Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.