Thermoelectric Modules Market

Thermoelectric Modules Market with COVID-19 Impact Analysis, By Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application, and Region - Global Forecast to 2026

Report Code: SE 5771 May, 2021, by marketsandmarkets.com

[211 Pages Report] According to MarketsandMarkets, the thermoelectric modules market is projected to grow from USD 593 million in 2021 to USD 872 million by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.0% from 2021 to 2026. Various types of thermoelectric modules based are being deployed worldwide, from bulk thermoelectric modules to thin film thermoelectric modules. Micro thermoelectric modules are being widely deployed in telecommunications equipment due to size constraints. The objective of the report is to define, describe, and forecast the market based on model, type, functionality, end-use application, offering, and region.

Thermoelectric Modules Market

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Impact of COVID-19 on current thermoelectric modules market size and forecast

The emergence of the COVID-19 pandemic, a deadly respiratory disease that originated in China, is now become a worldwide issue and has also affected the thermoelectric modules market. The COVID-19 pandemic will have a varying impact on different types of thermoelectric modules. The market has been negatively affected primarily due to the decline in industrial, aerospace, and automotive applications. Consumer electronics have also experiencing a fall in revenue initially but is expected to recover from 2021 onward. Telecommunications and medical segments have witnessed a minimal decline due to COVID-19 as remote communications and medicine/vaccine storage and transport as well as pharmaceutical research have become critical activities in the light of the pandemic. The overall market is expected to recover in 2020 with some segments such as automotive and aerospace expected to have a slightly late recovery.

Thermoelectric Modules Dynamics

Driver: Benefits of TEMs over conventional systems

TEMs have many advantages over conventional systems. Compared to vapor-compression cooling systems, TEMs are more compact, require less maintenance, have lower levels of vibration and noise, and have a more precise control over the temperature. A TEM acts as a small heat pump and transfers heat from one side of the device to the other. In addition, TEMs are also used to generate electricity by taking advantage of the temperature difference between 2 sides of the module. Due to their unique property of converting heat into electricity, starting from a zero-temperature difference makes them more useful than other conventional systems. TEMs are virtually maintenance free, highly reliable, eco friendly, and compact and lightweight, and they also provide precise temperature control; hence, they are deployed in consumer electronics, industrial, and medical sectors. In consumer electronics, they are commonly used for cooling in small volumes, such as portable and domestic refrigerators, portable iceboxes, and beverage can coolers where the cooling requirements are not too high.

Restraint: Inherent disadvantages and design complexities

The major disadvantage of TEMs is that they are inefficient. The flowing current through the module itself tends to generate a significant amount of heat, which gets added to the overall heat produced in the respective application. In large applications, this results in an excessive amount of heat, which can be removed using additional fans. However, this also uses up a lot of electricity, which can make its use for large-scale applications very expensive. TEMs are used to heat or cool objects. They are used for various applications where cooling below the ambient temperature or high temperature precision (stability <0.01 °C) are required. As TEMs are used for different applications such as automotive and consumer electronics, design complexities are associated with them. For instance, to reach the equivalent cooling efficiency of mechanical compression refrigeration, the material optimal coefficient of TEC is not high, which hinders the growth of TEMs.

Opportunity: Thermoelectric coolers for storage and transport of COVID-19 vaccines

With the advent of COVID-19 and the consequent shipment and rollout of vaccines, TEMs are expected to be increasingly deployed for portable vaccine coolers. Improper handling and failure to maintain vaccines in a safe temperature range result in significant losses of vaccines in developing countries and are expected to reduce the success of immunization programs. One of the most important barriers to effective vaccination programs in remote areas is the spoilage of vaccines due to improper storage temperatures. Active thermoelectric cooling can be a potentially viable alternative because the coolers are small and require few or no moving parts. With many of the COVID-19 vaccines requiring sub-zero or freezing temperatures, TEMs with large temperature differentials can be very effective in controlling the storage temperature of vaccines. Thermoelectric coolers offer significant advantages compared to the more conventional vapor-compression refrigeration; there are fewer moving parts that may require maintenance, no risks of refrigerant leakage, and a lighter, more compact size which is now a crucial factor in the transportation of large quantities of vaccines. A vapor-compression refrigeration system is heavy due to the compressor and is costly and noisy during operations. Thus, the system is not suitable or readily portable to remote areas. Alternatively, the cold box simply uses an ice pack to cool the vaccines and is much less reliable and offers cooling over a relatively short duration.

Challenge: Reliability and strength of TEMs

The specific reliability of thermoelectric devices can be difficult to predict, especially for custom designed modules. However, failure rates are highly dependent on the specific application. For applications involving relatively steady state cooling where DC power is being applied to the module on a continuous and uniform basis, the reliability and life-expectancy of TEMs is very high. On the other hand, applications involving thermal cycling show significantly worse reliability, especially when the TEMs are cycled up to high temperatures. Hence, there are numerous application parameters and conditions that will affect the end result. A particular test conducted in a TEM may not be valid for other configurations. TEMs also exhibit relatively high mechanical strength, but sheer strength is comparatively low. Hence, they should not be designed into a system where the module serves as a support for a mechanical structure. Furthermore, in applications where severe shock and vibration will be present, a thermoelectric cooling module has to be compression mounted. It is expected that the introduction of new materials for the manufacture of TEMs will overcome some of these challenges.

Thermoelectric Modules Market Interconnections

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Market for multistage thermoelectric modules to grow at higher CAGR during forecast period

The multistage coolers (TEC) offer superior cooling capabilities over single-stage coolers while maintaining their solid-state benefits. They have higher heat pumping capability than single-stage thermoelectric modules. For various niche applications, companies are focusing on developing high-capacity multistage thermoelectric modules. For instance, TEC Microsystems (Germany) offers a range of ultra-small multistage thermoelectric modules having 8 times smaller volume dimensions. Hence, the market for multistage thermoelectric modules is expected to witness a slightly higher growth rate compared to the market for single-stage modules. Multistage modules are used in automotive, industrial, telecommunications, medical, and consumer applications.

Market for micro thermoelectric modules to grow at highest CAGR during forecast period

Micro thermoelectric modules are witnessing the fastest growth due to applications such as telecommunications and automotive. The fast deployment of 5G communication is driving the need for micro thermoelectric modules. In automotive, micro thermoelectric modules are used for cooling various sensors that provide driving aid. Hence, the market for micro thermoelectric modules is expected to grow at the fastest rate during the forecast period. For niche applications where the temperature has to be regulated in very small devices, which have space constraints, companies are now focusing on developing thin-film modules. They lack the cooling capabilities compared to larger and thicker modules and hence, are not suitable for use in large devices.

Market for automotive application to grow at highest CAGR during forecast period

The market for thermoelectric modules used in automotive applications is expected to grow at the highest CAGR during the forecast period. With the fast growth of electric vehicles in the market, thermoelectric modules are being deployed for the cooling and heating of batteries in electric and hybrid vehicles as they can offer a highly responsive temperature control system. Thermoelectric modules are suitable for heating batteries in electric cars to overcome the poor performance of batteries in cold weather conditions. Other uses of these modules in automotive applications include cooling laser diodes in head-up displays, cool cup holders and glove boxes in car cabins, cooling sensor devices such as LIDAR in autonomous vehicles, and cooling laser diodes in laser headlights. Hence, with the rise in vehicles equipped with convenience features and the high growth potential of electric and autonomous vehicles, the market for thermoelectric modules for automotive applications is expected to witness the fastest growth during the forecast period.

Market in APAC to grow at highest CAGR during the forecast period

Due to large-scale manufacturing mainly in China and significant investments in new vehicle technologies including electric vehicles, LiDAR, and autonomous vehicles, the automotive industry is expected to play a vital role in the growth of the thermoelectric modules market in the region. The fast growth of luxury vehicles in China equipped with features such as heated/cooled seats, cooled glove boxes, and mini freezers is expected to drive the market for thermoelectric modules in the automotive segment. Japanese automotive manufacturers such as Toyota (Japan) and Honda (Japan) are fusing electrification technology for their vehicles, which is expected to facilitate the demand for thermoelectric modules in electric vehicles.

APAC is expected to be the least impacted market by the pandemic, with China being the first country to show signs of recovery from the pandemic in late 2020. Consumer refrigeration devices are one of the most prevalent durable goods among Chinese households, which is expected to dampen the impact of COVID-19. Manufacturing industries have quickly begun to rebound in 2021. Various automobile suppliers throughout China have now resumed production, recovering from the initial disruptions caused in the supply chain as a result of the pandemic. Japanese automakers are continuing to spend on research and development, especially in electrification technologies, which is expected to ease the decline in demand for thermoelectric modules. Like China, South Korea is quickly adopting 5G technology and is deploying telecommunications equipment at a fast pace. This is expected to facilitate the demand for micro thermoelectric modules in telecommunications.

Thermoelectric Modules Market by Region

Key Market Players

Major vendors in the thermoelectric modules market include Ferrotec (US), II-VI Incorporated (US), KELK (Japan), Laird Thermal Systems (US), Guangdong Fuxin Technology (China), TE Technology (US), Phononic (US), INHECO Industrial Heating & Cooling (Germany), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), Z-Max (Japan), Kyocera Corporation (Japan), Align Sourcing (US), HiTECH Technologies (US), Hi-Z Technology (US), Merit Technology Group (China), KJLP ELECTRONICS (China), P&N Technology (China), Thermonamic Electronics (China), Hui Mao (China), Wellen Technology (China), and Xiamen HIcool Electronics (China).

Scope of the Report:

Report Metric

Details

Market size available for years

2017—2026

Base year

2020

Forecast period

2021—2026

Units

Value (USD Million/Thousand), Volume (Million Units)

Segments covered

Model, Type, Functionality, End-Use Application, Offering, and Geography

Geographic regions covered

North America, Europe, APAC, and RoW

Companies covered

Ferrotec (US), II-VI Incorporated (US), KELK (Japan), Laird Thermal Systems (US), Guangdong Fuxin Technology (China), TE Technology (US), Phononic (US), INHECO Industrial Heating & Cooling (Germany), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), Z-Max (Japan), Kyocera Corporation (Japan), Align Sourcing (US), HiTECH Technologies (US), Hi-Z Technology (US), Merit Technology Group (China), KJLP ELECTRONICS (China), P&N Technology (China), Thermonamic Electronics (China), Hui Mao (China), Wellen Technology (China), and Xiamen HIcool Electronics (China)

This report categorizes the thermoelectric modules market based on model, type, functionality, end-use application, and geography.

Thermoelectric Modules Market, by Model:

  • Single Stage
  • Multi Stage

Thermoelectric Modules Market, by Type:

  • Bulk Thermoelectric Modules
  • Micro Thermoelectric Modules
  • Thin-Film Thermoelectric Modules
  • Impact of COVID-19 on different types of thermoelectric modules

Thermoelectric Modules Market, by Functionality:

  • General Purpose
  • Deep Cooling

Thermoelectric Modules Market, by End-Use Application:

  • Consumer Electronics
  • Industrial
  • Telecommunications
  • Autmomotive
  • Medical & Laboratories
  • Aerospace & Defense
  • Oil & Gas and Mining
  • Impact of COVID-19 on diferent application areas of thermoelectric modules

Thermoelectric Modules Market, by Offering:

  • Hardware
  • Services

Thermoelectric Modules Market, by Region:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • APAC
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • RoW
    • Middle East & Africa
    • South America
  • Impact of COVID-19 on thermoelectric modules market in different regions

Recent Developments

  • In January 2021, TEC Microsystems (Germany) updated its 1MA10 Series thermoelectric modules with dimensions optimal for PCR cycling (DNA cyclers), point-of-care (POC), and lab-on-chip (LOC) medical diagnostic applications.
  • In October 2020 Ferrotec (US) announced the acquisition of RMT (Russia), a manufacturer of micro-thermoelectric modules. The addition of micro-thermoelectric modules from RMT will help the company strengthen its product line up and achieve further growth.
  • In August 2020, Laird Thermal Systems (US) launched its Hi-Temp ETX Series thermoelectric coolers to deliver active cooling in high-temperature environments for autonomous systems, machine vision, digital light processors, and optical transceivers.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 29)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
        FIGURE 1 SEGMENTATION OF THERMOELECTRIC MODULES MARKET
           1.3.1 YEARS CONSIDERED
    1.4 CURRENCY & PRICING
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 33)
    2.1 RESEARCH DATA
        FIGURE 2 THERMOELECTRIC MODULES MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
                    2.1.1.1 Key industry insights
           2.1.2 SECONDARY DATA
                    2.1.2.1 List of key secondary sources
                    2.1.2.2 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Breakdown of primaries
                    2.1.3.2 Key data from primary sources
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
                            FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
                            FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE)—DEMAND FOR THERMOELECTRIC MODULES
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for obtaining market size using top-down analysis (supply side)
                            FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                            FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE)— REVENUE GENERATED BY COMPANIES IN THERMOELECTRIC MODULES MARKET
                            FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE)—IDENTIFICATION OF REVENUES GENERATED BY COMPANIES FROM THERMOELECTRIC MODULES MARKET
           2.2.3 MARKET PROJECTIONS
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
        FIGURE 8 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS
           2.4.1 ASSUMPTIONS
           2.4.2 LIMITATIONS
           2.4.3 RISK ASSESSMENT

3 EXECUTIVE SUMMARY (Page No. - 48)
  TABLE 1 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
    3.1 REALISTIC SCENARIO
    3.2 OPTIMISTIC SCENARIO
    3.3 PESSIMISTIC SCENARIO
        FIGURE 9 GROWTH PROJECTIONS OF MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS
        FIGURE 10 IMPACT OF COVID-19 ON MARKET
        FIGURE 11 MARKET FOR MULTISTAGE THERMOELECTRIC MODULES EXPECTED TO EXPERIENCE FASTER GROWTH THROUGHOUT FORECAST PERIOD
        FIGURE 12 MICROTHERMOELECTRIC MODULES MARKET TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
        FIGURE 13 MARKET FOR AUTOMOTIVE APPLICATION TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
        FIGURE 14 APAC TO ACCOUNT FOR LARGEST SHARE OF MARKET IN 2021

4 PREMIUM INSIGHTS (Page No. - 55)
    4.1 ATTRACTIVE OPPORTUNITIES IN THERMOELECTRIC MODULES MARKET
        FIGURE 15 ADVANTAGES OF SOLID-STATE TECHNOLOGY, COMPACT DESIGN, AND LONG LIFETIME DRIVING GROWTH OF MARKET
    4.2 BULK THERMOELECTRIC MODULES MARKET, BY REGION
        FIGURE 16 APAC TO WITNESS HIGHEST CAGR IN BULK MARKET DURING FORECAST PERIOD
    4.3 MARKET, BY FUNCTIONALITY
        FIGURE 17 GENERAL-PURPOSE THERMOELECTRIC MODULES TO LEAD MARKET DURING FORECAST PERIOD
    4.4 MARKET IN APAC, BY APPLICATION VS. BY COUNTRY
        FIGURE 18 CONSUMER ELECTRONICS AND CHINA TO BE LARGEST SHAREHOLDERS OF MARKET IN APAC IN 2021
    4.5 MARKET, BY COUNTRY
        FIGURE 19 US IS EXPECTED TO HOLD LARGEST SHARE OF THERMOELECTRIC MODULES MARKET IN 2021

5 MARKET OVERVIEW (Page No. - 58)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 20 IMPACT OF DRIVERS AND OPPORTUNITIES ON THERMOELECTRIC MODULES MARKET
        FIGURE 21 IMPACT OF RESTRAINTS AND CHALLENGES ON THERMOELECTRIC MODULES MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Benefits of TEMs over conventional systems
                    5.2.1.2 Simultaneous heating and cooling properties of TEMs driving demand for several applications
                    5.2.1.3 Growth of electric and luxury vehicles increasing demand for TEMs
                            FIGURE 22 GLOBAL ELECTRIC VEHICLE MARKET
           5.2.2 RESTRAINTS
                    5.2.2.1 Inherent disadvantages and design complexities
                    5.2.2.2 High costs compared to traditional heating/cooling systems
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Development of TEMs for new application areas
                    5.2.3.2 Thermoelectric coolers for storage and transport of COVID-19 vaccines
           5.2.4 CHALLENGES
                    5.2.4.1 Reliability and strength of TEMs
                    5.2.4.2 Decline in demand in automotive industry—impact of COVID-19
                            FIGURE 23 GLOBAL VEHICLE PRODUCTION DATA FOR Q1, Q2, AND Q3 IN 2019 AND 2020
    5.3 TARIFFS AND REGULATIONS
           5.3.1 TARIFFS RELATED TO THERMOELECTRIC MODULES
           5.3.2 REGULATIONS
                    5.3.2.1 EUROPE
                               5.3.2.1.1 RoHS
                    5.3.2.2 US
                               5.3.2.2.1 Telcordia GR-468
                               5.3.2.2.2 ITAR
           5.3.3 GLOBAL
                    5.3.3.1 Space qualifications
    5.4 CASE STUDIES
           5.4.1 LAIRD THERMAL SYSTEMS UTILIZED THERMOELECTRICS FOR COOLING OPTICAL SENSORS
           5.4.2 LAIRD THERMAL SYSTEMS UTILIZED THERMOELECTRICS FOR VISION SYSTEMS
           5.4.3 LAIRD THERMAL SYSTEMS UTILIZED THERMOELECTRICS FOR PRESERVING MEDICAL REAGENTS
           5.4.4 II-VI MARLOW SHOWCASED THERMOELECTRICS FOR THERMAL CYCLING
           5.4.5 II-VI MARLOW SHOWCASED THERMOELECTRICS FOR ENERGY HARVESTING
           5.4.6 CRYSTAL DEVELOPED PROTOTYPE FOR LABORATORY RESEARCH EQUIPMENT
           5.4.7 MAHLE TESTING THERMOELECTRICS IN AUTOMOTIVE APPLICATIONS
           5.4.8 PHONONIC LEVERAGED THERMOELECTRICS TO DEVELOP CPU COOLER
           5.4.9 PHONONIC PROVIDED SOLID-STATE REFRIGERATION SOLUTIONS USING THERMOELECTRICS
           5.4.10 PHONONIC OFFERED THERMOELECTRIC FREEZERS TO CONVENIENCE STORES
    5.5 AVERAGE SELLING PRICE ANALYSIS
        FIGURE 24 AVERAGE SELLING PRICE FORECAST OF THERMOELECTRIC MODULES (2020–2026)
        TABLE 2 AVERAGE SELLING PRICE OF THERMOELECTRIC MODULES, 2020–2026 (USD)

6 INDUSTRY TRENDS (Page No. - 69)
    6.1 INTRODUCTION
    6.2 VALUE CHAIN ANALYSIS
        FIGURE 25 VALUE CHAIN ANALYSIS OF THERMOELECTRIC MODULES MARKET: R&D AND MANUFACTURING PHASES CONTRIBUTE MAXIMUM VALUE
    6.3 ECOSYSTEM/MARKET MAP
        FIGURE 26 THERMOELECTRIC MODULES MARKET ECOSYSTEM
           6.3.1 THERMOELECTRIC MODULE OEMS
           6.3.2 SUPPLIERS
           6.3.3 DISTRIBUTORS
    6.4 TECHNOLOGY ANALYSIS
           6.4.1 KEY TECHNOLOGIES
                    6.4.1.1 Thermoelectric generators
                    6.4.1.2 Thermoelectric heat pumps
           6.4.2 ADJACENT TECHNOLOGY
                    6.4.2.1 Traditional heat pumps
    6.5 TECHNOLOGY TRENDS
           6.5.1 NEW MATERIALS USED IN MANUFACTURING THERMOELECTRIC MODULES
           6.5.2 MINIATURIZATION OF THERMOELECTRIC MODULES
    6.6 PATENT ANALYSIS
        FIGURE 27 PATENT PUBLICATION TRENDS FOR THERMOELECTRIC MODULES IN LAST 5 YEARS
    6.7 TRADE DATA
           6.7.1 TRADE DATA
                 FIGURE 28 IMPORTS DATA FOR HS CODE 1418, BY COUNTRY, 2016–2019
                 TABLE 3 IMPORTS DATA FOR HS CODE 1418, BY COUNTRY, 2016–2019 (USD BILLION)
                 FIGURE 29 EXPORTS DATA FOR HS CODE 1418, BY COUNTRY, 2016–2019
                 TABLE 4 EXPORTS DATA FOR HS CODE 1418, BY COUNTRY, 2016–2019 (USD MILLION)
    6.8 PORTER’S FIVE FORCES MODEL
                 TABLE 5 THERMOELECTRIC MODULES MARKET: PORTER’S FIVE FORCES ANALYSIS
           6.8.1 DEGREE OF COMPETITION
           6.8.2 BARGAINING POWER OF SUPPLIERS
           6.8.3 BARGAINING POWER OF BUYERS
           6.8.4 THREAT FROM SUBSTITUTES
           6.8.5 THREAT OF NEW ENTRANTS
    6.9 THERMOELECTRIC MODULES MARKET: SUPPLY CHAIN
    6.10 YC-YCC SHIFT
         FIGURE 30 YC-YCC SHIFT FOR THERMOELECTRIC MODULES MARKET

7 THERMOELECTRIC MODULES MARKET, BY MODEL (Page No. - 84)
    7.1 INTRODUCTION
        FIGURE 31 MULTISTAGE THERMOELECTRIC MODULES TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
        TABLE 6 THERMOELECTRIC MODULES MARKET, BY MODEL, 2017–2020 (USD MILLION)
        TABLE 7 THERMOELECTRIC MODULES MARKET, BY MODEL, 2021–2026 (USD MILLION)
    7.2 SINGLE STAGE
           7.2.1 SINGLE-STAGE THERMOELECTRIC MODULES HAVE ONLY ONE STAGE OR LAYER TO ACHIEVE STANDARD TEMPERATURE DIFFERENCES
    7.3 MULTI STAGE
           7.3.1 MULTISTAGE THERMOELECTRIC MODULES HAVE HIGH-TEMPERATURE DIFFERENTIALS BETWEEN MODULE’S HOT AND COLD SIDE

8 THERMOELECTRIC MODULES MARKET, BY TYPE (Page No. - 87)
    8.1 INTRODUCTION
        FIGURE 32 MICRO THERMOELECTRIC MODULES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
        TABLE 8 THERMOELECTRIC MODULES MARKET, BY TYPE, 2017–2020 (USD MILLION)
        TABLE 9 THERMOELECTRIC MODULES MARKET, BY TYPE, 2021–2026 (USD MILLION)
        TABLE 10 THERMOELECTRIC MODULES MARKET IN TERMS OF VOLUME, BY TYPE, 2020–2026 (MILLION UNITS)
    8.2 BULK THERMOELECTRIC MODULES
           8.2.1 THEY HAVE HIGHER POWER OUTPUT AND VOLTAGE COMPARED TO OTHER MODULES
                 TABLE 11 THERMOELECTRIC MODULES MARKET FOR BULK TYPE, BY REGION, 2017–2020 (USD MILLION)
                 TABLE 12 THERMOELECTRIC MODULES MARKET FOR BULK TYPE, BY REGION, 2021–2026 (USD MILLION)
    8.3 MICRO THERMOELECTRIC MODULES
           8.3.1 THEY HELP IN DECREASING ENERGY CONSUMPTION OF ELECTRIC DEVICES INCLUDING WEARABLES AND WIRELESS SENSORS
                 TABLE 13 THERMOELECTRIC MODULES MARKET FOR MICRO TYPE, BY REGION, 2017–2020 (USD MILLION)
                 TABLE 14 THERMOELECTRIC MODULES MARKET FOR MICRO TYPE, BY REGION, 2021–2026 (USD MILLION)
    8.4 THIN-FILM THERMOELECTRIC MODULES
           8.4.1 THEY PRODUCE MAXIMUM HEAT FLUX AS THEY ARE THINNER THAN BULK THERMOELECTRIC MODULES
                 TABLE 15 THERMOELECTRIC MODULES MARKET FOR THIN-FILM TYPE, BY REGION, 2017–2020 (USD MILLION)
                 TABLE 16 THERMOELECTRIC MODULES MARKET FOR THIN-FILM TYPE, BY REGION, 2021–2026 (USD MILLION)
    8.5 IMPACT OF COVID-19 ON DIFFERENT TYPES OF THERMOELECTRIC MODULES
           8.5.1 MOST IMPACTED TYPE
           8.5.2 LEAST IMPACTED TYPE

9 THERMOELECTRIC MODULES MARKET, BY FUNCTIONALITY (Page No. - 94)
    9.1 INTRODUCTION
        FIGURE 33 GENERAL-PURPOSE THERMOELECTRIC MODULES TO LEAD MARKET DURING FORECAST PERIOD
        TABLE 17 THERMOELECTRIC MODULES MARKET, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
        TABLE 18 THERMOELECTRIC MODULES MARKET, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
    9.2 GENERAL PURPOSE
           9.2.1 GENERAL-PURPOSE MODULES ARE USED IN BIOMEDICAL, LABORATORY AND SCIENTIFIC INSTRUMENTS, CONSUMER PRODUCTS, AND INDUSTRIAL EQUIPMENT
                 TABLE 19 GENERAL-PURPOSE THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2017–2020 (USD MILLION)
                 TABLE 20 GENERAL-PURPOSE THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2021–2026 (USD MILLION)
    9.3 DEEP COOLING
           9.3.1 DEEP-COOLING MODULES ARE AVAILABLE IN DIFFERENT FORM FACTORS SUCH AS SINGLE STAGE AND MULTI STAGE
                 TABLE 21 DEEP COOLING THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2017–2020 (USD MILLION)
                 TABLE 22 DEEP COOLING THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2021–2026 (USD MILLION)

10 THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION (Page No. - 99)
     10.1 INTRODUCTION
          FIGURE 34 AUTOMOTIVE MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 23 MARKET, BY END-USE APPLICATION, 2017–2020 (USD MILLION)
          TABLE 24 MARKET, END-USE APPLICATION, 2021–2026 (USD MILLION)
     10.2 CONSUMER ELECTRONICS
             10.2.1 CONSUMER ELECTRONICS HELD LARGEST SHARE OF THERMOELECTRIC MODULES MARKET IN 2020
                    TABLE 25 MARKET FOR CONSUMER ELECTRONICS, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
                    TABLE 26 MARKET FOR CONSUMER ELECTRONICS, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
                    TABLE 27 MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 28 MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 29 MARKET FOR CONSUMER ELECTRONICS IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 30 MARKET FOR CONSUMER ELECTRONICS IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 31 MARKET FOR CONSUMER ELECTRONICS IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 32 MARKET FOR CONSUMER ELECTRONICS IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 33 MARKET FOR CONSUMER ELECTRONICS IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 34 MARKET FOR CONSUMER ELECTRONICS IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 35 MARKET FOR CONSUMER ELECTRONICS IN ROW, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 36 MARKET FOR CONSUMER ELECTRONICS IN ROW, BY REGION, 2021–2026 (USD MILLION)
     10.3 INDUSTRIAL
             10.3.1 USE OF THERMOELECTRIC MODULES IN FOOD & BEVERAGES INDUSTRY DRIVING GROWTH OF OVERALL MARKET
                    FIGURE 35 GENERAL-PURPOSE MODULES MARKET FOR INDUSTRIAL APPLICATIONS TO EXPERIENCE LARGER SHARE DURING FORECAST PERIOD
                    TABLE 37 MARKET FOR INDUSTRIAL, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
                    TABLE 38 THERMOELECTRIC MODULES MARKET FOR INDUSTRIAL, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
                    TABLE 39 MARKET FOR INDUSTRIAL, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 40 MARKET FOR INDUSTRIAL, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 41 MARKET FOR INDUSTRIAL IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 42 MARKET FOR INDUSTRIAL IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 43 MARKET FOR INDUSTRIAL IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 44 MARKET FOR INDUSTRIAL IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 45 MARKET FOR INDUSTRIAL IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 46 MARKET FOR INDUSTRIAL IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 47 MARKET FOR INDUSTRIAL IN ROW, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 48 MARKET FOR INDUSTRIAL IN ROW, BY REGION, 2021–2026 (USD THOUSAND)
     10.4 TELECOMMUNICATIONS
             10.4.1 APAC TO CONTINUE TO ACCOUNT FOR LARGEST MARKET SIZE FOR TELECOMMUNICATIONS DURING FORECAST PERIOD
                    TABLE 49 THERMOELECTRIC MODULES MARKET FOR TELECOMMUNICATIONS, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
                    TABLE 50 THERMOELECTRIC MODULES MARKET FOR TELECOMMUNICATIONS, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
                    TABLE 51 MARKET FOR TELECOMMUNICATIONS, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 52 MARKET FOR TELECOMMUNICATIONS, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 53 MARKET FOR TELECOMMUNICATIONS IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 54 MARKET FOR TELECOMMUNICATIONS IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 55 MARKET FOR TELECOMMUNICATIONS IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 56 MARKET FOR TELECOMMUNICATIONS IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 57 MARKET FOR TELECOMMUNICATIONS IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 58 MARKET FOR TELECOMMUNICATIONS IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 59 MARKET FOR TELECOMMUNICATIONS IN ROW, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 60 MARKET FOR TELECOMMUNICATIONS IN ROW, BY REGION, 2021–2026 (USD THOUSAND)
     10.5 AUTOMOTIVE
             10.5.1 MARKET FOR AUTOMOTIVE APPLICATION EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 61 MARKET FOR AUTOMOTIVE, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
                    TABLE 62 MARKET FOR AUTOMOTIVE, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
                    FIGURE 36 MARKET FOR AUTOMOTIVE IN APAC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 63 MARKET FOR AUTOMOTIVE, BY REGION,  2017–2020 (USD MILLION)
                    TABLE 64 MARKET FOR AUTOMOTIVE, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 65 MARKET FOR AUTOMOTIVE IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 66 MARKET FOR AUTOMOTIVE IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 67 MARKET FOR AUTOMOTIVE IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 68 MARKET FOR AUTOMOTIVE IN EUROPE,  BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 69 MARKET FOR AUTOMOTIVE IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 70 MARKET FOR AUTOMOTIVE IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 71 MARKET FOR AUTOMOTIVE IN ROW, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 72 MARKET FOR AUTOMOTIVE IN ROW, BY REGION, 2021–2026 (USD THOUSAND)
     10.6 MEDICAL & LABORATORIES
             10.6.1 NEED FOR TEMPERATURE STABILIZATION BOOSTING DEMAND FOR THERMOELECTRIC MODULES IN MEDICAL & LABORATORIES APPLICATION
                    TABLE 73 MARKET FOR MEDICAL & LABORATORIES, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
                    TABLE 74 MARKET FOR MEDICAL & LABORATORIES, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
                    TABLE 75 MARKET FOR MEDICAL & LABORATORIES, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 76 MARKET FOR MEDICAL & LABORATORIES, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 77 MARKET FOR MEDICAL & LABORATORIES IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 78 MARKET FOR MEDICAL & LABORATORIES IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 79 MARKET FOR MEDICAL & LABORATORIES IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 80 MARKET FOR MEDICAL & LABORATORIES IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 81 MARKET FOR MEDICAL & LABORATORIES IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                    TABLE 82 MARKET FOR MEDICAL & LABORATORIES IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
                    TABLE 83 MARKET FOR MEDICAL & LABORATORIES IN ROW, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 84 MARKET FOR MEDICAL & LABORATORIES IN ROW, BY REGION, 2021–2026 (USD THOUSAND)
     10.7 AEROSPACE & DEFENSE
             10.7.1 MARLOW AND RMT ARE AMONG KEY COMPANIES CATERING TO AEROSPACE & DEFENSE APPLICATION
                    TABLE 85 MARKET FOR AEROSPACE & DEFENSE, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
                    TABLE 86 MARKET FOR AEROSPACE & DEFENSE, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
                    FIGURE 37 MARKET FOR AEROSPACE & DEFENSE IN NORTH AMERICA TO HOLD LARGEST SHARE DURING FORECAST PERIOD
                    TABLE 87 MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 88 MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2021–2026 (USD MILLION)
                    TABLE 89 MARKET FOR AEROSPACE & DEFENSE IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD THOUSAND)
                    TABLE 90 MARKET FOR AEROSPACE & DEFENSE IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD THOUSAND)
                    TABLE 91 MARKET FOR AEROSPACE & DEFENSE IN EUROPE, BY COUNTRY, 2017–2020 (USD THOUSAND)
                    TABLE 92 MARKET FOR AEROSPACE & DEFENSE IN EUROPE, BY COUNTRY, 2021–2026 (USD THOUSAND)
                    TABLE 93 MARKET FOR AEROSPACE & DEFENSE IN APAC, BY COUNTRY, 2017–2020 (USD THOUSAND)
                    TABLE 94 THERMOELECTRIC MODULES MARKET FOR AEROSPACE & DEFENSE IN APAC, BY COUNTRY, 2021–2026 (USD THOUSAND)
                    TABLE 95 MARKET FOR AEROSPACE & DEFENSE IN ROW, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 96 MARKET FOR AEROSPACE & DEFENSE IN ROW, BY REGION, 2021–2026 (USD THOUSAND)
     10.8 OIL & GAS AND MINING
             10.8.1 THERMOELECTRIC MODULES ARE USED IN GAS ANALYZERS, METERING EQUIPMENT, AND REMOTE TELEMETRY UNITS IN OIL, GAS & MINING APPLICATIONS
                    TABLE 97 MARKET FOR OIL & GAS AND MINING, BY FUNCTIONALITY, 2017–2020 (USD MILLION)
                    TABLE 98 MARKET FOR OIL & GAS AND MINING, BY FUNCTIONALITY, 2021–2026 (USD MILLION)
                    TABLE 99 MARKET FOR OIL & GAS AND MINING, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 100 MARKET FOR OIL & GAS AND MINING, BY REGION, 2021–2026 (USD THOUSAND)
                    TABLE 101 MARKET FOR OIL & GAS AND MINING IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD THOUSAND)
                    TABLE 102 MARKET FOR OIL & GAS AND MINING IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD THOUSAND)
                    TABLE 103 THERMOELECTRIC MODULES MARKET FOR OIL & GAS AND MINING IN EUROPE, BY COUNTRY, 2017–2020 (USD THOUSAND)
                    TABLE 104 MARKET FOR OIL & GAS AND MINING IN EUROPE, BY COUNTRY, 2021–2026 (USD THOUSAND)
                    TABLE 105 THERMOELECTRIC MODULES MARKET FOR OIL & GAS AND MINING IN APAC, BY COUNTRY, 2017–2020 (USD THOUSAND)
                    TABLE 106 THERMOELECTRIC MODULES MARKET FOR OIL & GAS AND MINING IN APAC, BY COUNTRY, 2021–2026 (USD THOUSAND)
                    TABLE 107 THERMOELECTRIC MODULES MARKET FOR OIL & GAS AND MINING IN ROW, BY REGION, 2017–2020 (USD THOUSAND)
                    TABLE 108 THERMOELECTRIC MODULES MARKET FOR OIL & GAS AND MINING IN ROW, BY REGION, 2021–2026 (USD THOUSAND)
     10.9 IMPACT OF COVID-19 ON DIFFERENT APPLICATION AREAS OF THERMOELECTRIC MODULES
             10.9.1 MOST IMPACTED APPLICATION
             10.9.2 LEAST IMPACTED APPLICATION

11 THERMOELECTRIC MODULES MARKET, BY OFFERING (Page No. - 135)
     11.1 INTRODUCTION
          FIGURE 38 HARDWARE COMPONENT TO HOLD LARGER SHARE OF MARKET THROUGHOUT FORECAST PERIOD
          TABLE 109 THERMOELECTRIC MODULES MARKET, BY OFFERING, 2017–2020 (USD MILLION)
          TABLE 110 THERMOELECTRIC MODULES MARKET, BY OFFERING, 2021–2026 (USD MILLION)
     11.2 HARDWARE
             11.2.1 HARDWARE OF THERMOELECTRIC MODULES INCLUDE VARIOUS ELEMENTS AND COMPONENTS THAT WORK AS A UNIT
     11.3 SERVICES
             11.3.1 SERVICES INCLUDE PROTOTYPING, DESIGNING, ENGINEERING, TESTING, AND COMPLIANCE

12 GEOGRAPHIC ANALYSIS OF THERMOELECTRIC MODULES MARKET (Page No. - 138)
     12.1 INTRODUCTION
          FIGURE 39 THERMOELECTRIC MODULES MARKET IN APAC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 111 THERMOELECTRIC MODULES MARKET, BY REGION, 2017–2020 (USD MILLION)
          TABLE 112 THERMOELECTRIC MODULES MARKET, BY REGION, 2021–2026 (USD MILLION)
          TABLE 113 THERMOELECTRIC MODULES MARKET, IN TERMS OF VOLUME, BY REGION, 2020–2026 (MILLION UNITS)
     12.2 NORTH AMERICA
          FIGURE 40 SNAPSHOT: THERMOELECTRIC MODULES MARKET IN NORTH AMERICA
          TABLE 114 THERMOELECTRIC MODULES MARKET IN NORTH AMERICA, BY END-USE APPLICATION, 2017–2020 (USD MILLION)
          TABLE 115 THERMOELECTRIC MODULES MARKET IN NORTH AMERICA, BY END-USE APPLICATION, 2020–2026 (USD MILLION)
          TABLE 116 THERMOELECTRIC MODULES MARKET IN NORTH AMERICA, BY TYPE, 2017–2020 (USD MILLION)
          TABLE 117 THERMOELECTRIC MODULES MARKET IN NORTH AMERICA, BY TYPE, 2021–2026 (USD MILLION)
          TABLE 118 THERMOELECTRIC MODULES MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
          TABLE 119 THERMOELECTRIC MODULES MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
             12.2.1 US
                        12.2.1.1 Industrial clusters in US are using thermoelectric modules to improve efficiency and provide clean energy
             12.2.2 CANADA
                        12.2.2.1 Industrial and automotive applications are driving growth of thermoelectric modules market in Canada
             12.2.3 MEXICO
                        12.2.3.1 Growing automotive and industry applications driving growth of thermoelectric modules
     12.3 EUROPE
          FIGURE 41 SNAPSHOT: THERMOELECTRIC MODULES MARKET IN EUROPE
          TABLE 120 THERMOELECTRIC MODULES MARKET IN EUROPE, BY END-USE APPLICATION, 2017–2020 (USD MILLION)
          TABLE 121 MARKET IN EUROPE, BY END-USE APPLICATION, 2021–2026 (USD MILLION)
          TABLE 122 MARKET IN EUROPE, BY TYPE, 2017–2020 (USD MILLION)
          TABLE 123 MARKET IN EUROPE, BY TYPE, 2021–2026 (USD MILLION)
          TABLE 124 MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
          TABLE 125 MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
             12.3.1 GERMANY
                        12.3.1.1 Germany is expected to hold largest share of thermoelectric modules market in Europe
             12.3.2 UK
                        12.3.2.1 Growing industrial and automotive sectors to drive market growth in UK
             12.3.3 FRANCE
                        12.3.3.1 Government incentives to reduce emissions to boost market growth in France
             12.3.4 ITALY
                        12.3.4.1 Luxury and high-performance automotive manufacturers to drive market in Italy
             12.3.5 REST OF EUROPE
     12.4 ASIA PACIFIC
          FIGURE 42 SNAPSHOT: THERMOELECTRIC MODULES MARKET IN APAC
          TABLE 126 MARKET IN APAC, BY END-USE APPLICATION, 2017–2020 (USD MILLION)
          TABLE 127 MARKET IN APAC, BY END-USE APPLICATION, 2021–2026 (USD MILLION)
          TABLE 128 MARKET IN APAC, BY TYPE, 2017–2020 (USD MILLION)
          TABLE 129 MARKET IN APAC, BY TYPE, 2021–2026 (USD MILLION)
          TABLE 130 MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
          TABLE 131 MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
             12.4.1 CHINA
                        12.4.1.1 China to continue to hold largest share of thermoelectric modules market in APAC during forecast period
             12.4.2 JAPAN
                        12.4.2.1 Consumer electronics market driving growth of thermoelectric modules in Japan
             12.4.3 SOUTH KOREA
                        12.4.3.1 Thermoelectric modules market in South Korea is dominated by telecommunications and automotive applications
             12.4.4 REST OF APAC
     12.5 ROW
          TABLE 132 THERMOELECTRIC MODULES MARKET IN ROW, BY END-USE APPLICATION, 2017–2020 (USD MILLION)
          TABLE 133 THERMOELECTRIC MODULES MARKET IN ROW, BY END-USE APPLICATION, 2021–2026 (USD MILLION)
          TABLE 134 THERMOELECTRIC MODULES MARKET IN ROW, BY TYPE, 2017–2020 (USD MILLION)
          TABLE 135 THERMOELECTRIC MODULES MARKET IN ROW, BY TYPE, 2021–2026 (USD MILLION)
          TABLE 136 THERMOELECTRIC MODULES MARKET IN ROW, BY REGION, 2017–2019 (USD MILLION)
          TABLE 137 THERMOELECTRIC MODULES MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)
             12.5.1 SOUTH AMERICA
                        12.5.1.1 South America to hold larger share of thermoelectric module market in RoW
             12.5.2 MIDDLE EAST AND AFRICA
                        12.5.2.1 Presence of oil & gas industry to drive adoption of thermoelectric modules in Middle East
     12.6 IMPACT OF COVID-19 ON THERMOELECTRIC MODULES MARKET IN DIFFERENT REGIONS

13 COMPETITIVE LANDSCAPE (Page No. - 156)
     13.1 OVERVIEW
     13.2 KEY PLAYER STRATEGIES/MARKET EVALUATION FRAMEWORK
          TABLE 138 OVERVIEW OF STRATEGIES DEPLOYED BY KEY THERMOELECTRIC MODULE MANUFACTURERS
             13.2.1 PRODUCT PORTFOLIO
             13.2.2 REGIONAL FOCUS
             13.2.3 MANUFACTURING FOOTPRINT
             13.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
     13.3 MARKET SHARE ANALYSIS: THERMOELECTRIC MODULES MARKET, 2020
          TABLE 139 DEGREE OF COMPETITION, 2020
     13.4 FIVE-YEAR COMPANY REVENUE ANALYSIS
          FIGURE 43 FIVE-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS IN THERMOELECTRIC MODULES MARKET
     13.5 COMPANY EVALUATION QUADRANT
             13.5.1 STAR
             13.5.2 EMERGING LEADER
             13.5.3 PERVASIVE
             13.5.4 PARTICIPANT
                    FIGURE 44 THERMOELECTRIC MODULES MARKET: COMPANY EVALUATION QUADRANT, 2020
             13.5.5 COMPANY FOOTPRINT
                    TABLE 140 OVERALL COMPANY FOOTPRINT
                    TABLE 141 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS PRODUCTS
                    TABLE 142 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS VERTICALS
                    TABLE 143 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS REGIONS
     13.6 START-UP/SME EVALUATION MATRIX
          TABLE 144 LIST OF START-UP COMPANIES IN THERMOELECTRIC MODULES MARKET
             13.6.1 PROGRESSIVE COMPANIES
             13.6.2 RESPONSIVE COMPANIES
             13.6.3 DYNAMIC COMPANIES
             13.6.4 STARTING BLOCKS
                    FIGURE 45 THERMOELECTRIC MODULES MARKET, STARTUP/SME EVALUATION MATRIX, 2020
     13.7 COMPETITIVE SCENARIO
             13.7.1 PRODUCT LAUNCHES
                    TABLE 145 PRODUCT LAUNCHES, 2018–2020
             13.7.2 DEALS
                    TABLE 146 DEALS, 2018–2020
             13.7.3 EXPANSIONS
                    TABLE 147 EXPANSIONS, 2018–2020

14 COMPANY PROFILES (Page No. - 171)
(Business Overview, Products Offered, Recent Developments, COVID-19-related developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     14.1 KEY PLAYERS
             14.1.1 FERROTEC
                    TABLE 148 FERROTEC: BUSINESS OVERVIEW
                    FIGURE 46 FERROTEC: COMPANY SNAPSHOT
             14.1.2 LAIRD THERMAL SYSTEMS
                    TABLE 149 LAIRD THERMAL SYSTEMS: BUSINESS OVERVIEW
             14.1.3 II-VI INCORPORATED
                    TABLE 150 II-VI INCORPORATED: BUSINESS OVERVIEW
                    FIGURE 47 II-VI INCORPORATED: COMPANY SNAPSHOT
             14.1.4 KELK
                    TABLE 151 KELK: BUSINESS OVERVIEW
             14.1.5 GUANGDONG FUXIN TECHNOLOGY
                    TABLE 152 GUANGDONG FUXIN TECHNOLOGY: BUSINESS OVERVIEW
             14.1.6 TE TECHNOLOGY
                    TABLE 153 TE TECHNOLOGY: BUSINESS OVERVIEW
             14.1.7 TEC MICROSYSTEMS
                    TABLE 154 TEC MICROSYSTEMS: BUSINESS OVERVIEW
             14.1.8 CRYSTAL
                    TABLE 155 CRYSTAL: BUSINESS OVERVIEW
             14.1.9 KRYOTHERM
                    TABLE 156 KRYOTHERM: BUSINESS OVERVIEW
             14.1.10 THERMOIN COMPANY
                     TABLE 157 THERMOIN COMPANY: BUSINESS OVERVIEW
             14.1.11 Z-MAX
                     TABLE 158 Z-MAX: BUSINESS OVERVIEW
             14.1.12 PHONONIC
                     TABLE 159 PHONONIC: BUSINESS OVERVIEW
     14.2 OTHER KEY PLAYERS
             14.2.1 ALIGN SOURCING
             14.2.2 EVERREDTRONICS
             14.2.3 HITECH TECHNOLOGIES
             14.2.4 HI-Z TECHNOLOGY
             14.2.5 HUI MAO
             14.2.6 INHECO INDUSTRIAL HEATING & COOLING
             14.2.7 KJLP (SHENZHEN) ELECTRONICS
             14.2.8 KYOCERA CORPORATION
             14.2.9 MERIT TECHNOLOGY GROUP
             14.2.10 P&N TECHNOLOGY
             14.2.11 THERMONAMIC ELECTRONICS
             14.2.12 WELLEN TECHNOLOGY
             14.2.13 XIAMEN HICOOL ELECTRONICS

*Details on Business Overview, Products Offered, Recent Developments, COVID-19-related developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

15 APPENDIX (Page No. - 204)
     15.1 DISCUSSION GUIDE
     15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.3 AVAILABLE CUSTOMIZATIONS
     15.4 RELATED REPORTS
     15.5 AUTHOR DETAILS

The study involved four major activities in estimating the size for thermoelectric modules market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources were referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, thermoelectric module-related journals, and certified publications; articles by recognized authors; gold and silver standard websites; directories; and databases like Factiva.

Secondary research was mainly conducted to obtain key information about the industry supply chain, the market value chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both market- and technology-oriented perspectives. Data from secondary research was collected and analyzed to arrive at the overall market size, which was further validated by primary research.

Primary Research

In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain the qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related key executives from major companies and organizations operating in the thermoelectric modules market.

Extensive primary research was conducted after obtaining information about the thermoelectric modules market through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides. Primary data has been mainly collected through telephonic interviews, which constitute approximately 80% of the overall primary interviews. Moreover, questionnaires and emails were also used to collect the data.

Thermoelectric Modules Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches were used, along with several data triangulation methods, to estimate and forecast the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out on the complete market engineering process to list the key information/insights pertaining to the thermoelectric modules market.

Key players in the market were identified through secondary research, and their rankings in the respective regions were determined through primary and secondary research. This entire procedure involves the study of the annual and financial reports, Factiva data of top players, as well as interviews with industry experts, such as chief executive officers, vice presidents, directors, and marketing executives, for both quantitative and qualitative key insights. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Thermoelectric Modules Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Data Triangulation

After arriving at the overall size of the thermoelectric modules market from the estimation process explained above, the total market was split into several segments and subsegments. The market breakdown and data triangulation procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.

Report Objectives

  • To describe and forecast the thermoelectric modules market, in terms of value, based on model, type, functionality, end-use application, and offering
  • To describe and forecast the market size of the thermoelectric module market, in terms of value, with regard to four main regions: North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To provide a detailed overview of the supply chain of the thermoelectric module ecosystem
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the thermoelectric modules market
  • To benchmark players within the market using the proprietary “Competitive Leadership Mapping” framework, which analyzes market players on various parameters within the broad categories of business strategy excellence and strength of product portfolio
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape of the market
  • To analyze competitive developments such as acquisitions, product launches and developments, expansions, partnerships, and acquisitions in the thermoelectric modules market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Product Analysis

  • Detailed analysis and profiling of additional market players
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