Thermoelectric Modules Market

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Thermoelectric Modules Market by Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application (Consumer Electronics, Automotive), Offering and Region - Global Forecast to 2027

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Report Code: SE 5771 Jun, 2022, by marketsandmarkets.com

[210 Pages Report] According to MarketsandMarkets, the thermoelectric modules market is projected to grow from USD 693 million in 2022 to USD 1,054 million by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.8% from 2022 to 2027. Thermoelectric modules offers several advantages, such as compact design compared to conventional systems, simultaneous heating and cooling capabilities make TEMs suitable for various functions in different end-use applications. These advatnages in turn drives the adoption of thermoelectric modules. Additionally, the fast growing electric vehicles market is also driving the growth of thermoelectric modules market owing to utilization of these modules in various functions of electric vehicles, such as control of car seat temperatures and stabilize the temperature of a car�s battery-operated system.

The objective of the report is to define, describe, and forecast the thermoelectric modules market based on model, type, functionality, end-use application, offering, and region.

Thermoelectric Modules Market

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Impact of COVID-19

In 2020, the market was negatively affected primarily due to the decline in industrial, aerospace, and automotive applications owing to impact of COVID-19. Consumer electronics also experienced a fall in revenue however, the market recovered in 2021. Telecommunications and medical segments witnessed a minimal decline due to COVID-19 as remote communications and medicine/vaccine storage and transport as well as pharmaceutical research became critical activities in the light of the pandemic.

The emergence of the global COVID-19 pandemic has affected the thermoelectric modules market. Most types of thermoelectric modules have been affected by this crisis. As such, it is observed that the market in 2021 has experienced approximately 7% decline compared to 2019. Market players witnessed a reduction in the demand for thermoelectric modules across all applications and industries.

Thermoelectric Modules Market Dynamics

Driver :Simultaneous heating and cooling properties of TEMs driving demand for several applications

TEMs use the Peltier effect to create a temperature difference by transferring heat between 2 electrical junctions. These modules are mainly used in cooling devices, but they also find application in heating devices. Thermoelectric coolers are capable of cooling or heating a system based on the polarity of the DC power applied. Therefore, the simultaneous heating and cooling ability of TEMs is utilized to produce hot and cold water for different functions. For instance, it can produce hot water for a bath while delivering cold water for air cooling. This property of TEMs is used in charged coupled devices, infrared detectors, laser diode coolers, weapons sights, and thermal viewers, as well as for integrated circuit cooling, microprocessor cooling, and electronic package cooling. Some recent applications of TEMs include PC processors that produce very large amounts of heat during their operation for reliable operating temperature for these electronic devices. TEMs have also been applied in scientific and laboratory equipment cooling for laser diodes and integrated circuit chips to reduce the thermal noise and leakage current of the electronic components where conventional passive cooling technologies cannot fully meet the heat dissipation requirements.

Restraint : High costs compared to traditional heating/cooling systems

Manufacturing thermoelectric systems includes significant material and manufacturing costs compared with conventional cooling and refrigeration systems. The high cost of tellurium and germanium is one of the primary reasons for the high cost of TEMs. Furthermore, the estimation of manufacturing costs of TEMs is extremely difficult because the materials and processes vary widely. For instance, according to the Fraunhofer Institute for Physical Measurement Techniques (Germany), during the mass production of TEMs in the semi-automatic production facility in 2016, the material cost of TEMs significantly decreased, while the initial capital investment had increased. Hence, companies that produce TEMs in large quantities benefit from greater economies of scale.

Opportunity : Development of TEMs for new application areas

TEMs are used in a wide range of industries, including automotive, consumer, electronics, aerospace & defense, medical & laboratories, oil & gas, energy & power, food & beverages, metal & mining, and telecommunications. The major growth area for the market is the medical equipment industry because of the growing need for large and small high-powered devices for treatment and analysis purposes. Medical electronics devices include medical devices, medical diagnostic tools, and monitoring devices. These devices, including surgical instruments and analyzers of automated immunoassays, need more precision, reliability, and efficiency in terms of thermal performance. To achieve this, medical equipment designers have introduced passive thermal control systems, which include heat pipes and vapor chambers. Also, designers ensure consistent temperature control and increase the power level of devices without increasing the operating temperature. Therefore, heat pipes, cooling medical devices, and vapor chambers are used in medical devices for thermal management solutions. Therefore, this is expected to increase the demand for TEMs in the coming years.

Challenge : Reliability and strength of TEMs

Applications involving thermal cycling show significantly worse reliability, especially when the TEMs are cycled up to high temperatures. 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 are very high. Hence, there are numerous application parameters and conditions that will affect the result. A particular test conducted in a TEM may not be valid for other configurations.

Multistage thermoelectric modules market to witness significant growth rate between 2022 and 2027

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. Hence, the market for multistage thermoelectric modules is expected to witness a 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 bulk thermoelectric modules to hold largest share of thermoelectric modules market by type throughout the forecast period

Bulk thermoelectric modules are suitable for a wide variety of applications and have no design constraints compared to micro or thin-film thermoelectric modules. These modules can be configured for different power draw and cooling capabilities based on their design. They are also less complex to design, and manufacture compared to smaller modules. Bulk thermoelectric modules are widely used to make related components such as thermoelectric generators (TEGs) and heat pumps.

Automotive to create lucrative growth opportunities for thermoelectric modules during the forecast period

Uses of thermoelectric 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.

Thermoelectric modules market to witness highest growth and demand in APAC

APAC has emerged as a global focal point for large investments and business expansion opportunities. The increased demand for waste heat recovery, consumer goods, industrial automation, and healthcare monitoring devices is expected to drive this market in the region. Being a hub for global manufacturing industries, China holds a huge market for thermoelectric modules, and it is expected to be the largest market in APAC during the forecast period. Japan is one of the leading countries in terms of technological innovations. The country has well-established consumer electronics, healthcare, and automotive sectors which drives the market. Additionally, the flourishing automotive and telecommunication in South Korea is enabling adoption of thermoelectric modules, thus driving the growth of the market in the region.

Thermoelectric Modules Market by Region

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Key Market Players

Major vendors in the thermoelectric modules market include Ferrotec (Japan), Laird Thermal Systems (US), II-VI Incorporated (US), Kelk (Japan), Guangdong Fuxin Technology (China), TE Technology (US), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), and Phononic (US).

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Scope of the Report

Report Metric	Detail
Market size available for years	2018�2027
Base year	2021
Forecast period	2022�2027
Units	Value (USD Million), 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 (Japan), Laird Thermal Systems (US), II-VI Incorporated (US), Kelk (Japan), Guangdong Fuxin Technology (China), TE Technology (US), TEC Microsystems (Germany), Crystal (Russia), Kryotherm (Russia), and Phononic (US) are the major players in the market. A total of 25 players are profiled in the report.

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

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

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

Recent Developments

In May 2022, Phononic partnered with Google Cloud�s two new manufacturing data solutions: Manufacturing Data Engine and Manufacturing Connect. The partnership is aimed at achieving the analytics and insights needed to fully optimize Phononic�s operations.
In July 2021, Laird Thermal Systems launched enhanced OptoTEC OTX/HTX Series of miniature thermoelectric coolers designed for high-temperature environments found in telecom, industrial, autonomous and photonics applications.
In July 2021, Phononic secured growth investment led by $50 million from the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs). Phononic aims to expand its sales and marketing, domestic and international high-volume manufacturing capabilities, and expand its cooling and refrigeration product portfolio and platform through this investment.
In August 2020, Laird Thermal Systems 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.

Frequently Asked Questions (FAQ):

Which are the major companies in the thermoelectric modules market? What are their major strategies to strengthen their market presence?

Ferrotec (Japan), Laird Thermal Systems (US), II-VI Incorporated (US), Kelk (Japan), Guangdong Fuxin Technology (China) are the top players in the market. These companies have adopted organic as well as inorganic growth strategies such as product launch, acquisitions, and partnerships to gain competitive advantage in the market.

Which is the potential market for thermoelectric modules in terms of the region?

APAC is the region with high growth opportunities owing to the presence of countries such as China and South Korea, which are the leaders the consumer electronics manufacturing industry. Rising adoption of 5G communication in China, South Korea, and Japan also facilitate growth to the market.

What are the opportunities for new market entrants?

Factors such as development of TEMs for new application areas and demand for thermoelectric coolers for storage and transport of COVID-19 vaccines are creating opportunities for the players in the market.

Which end-use applications are expected to drive the growth of the market in the next six years?

Consumer electronics is expected to remain the major end-use application driving significant demand for thermoelectric modules. Due to fast-changing consumer preferences, thermoelectric cooling solutions offer a competitive advantage by enabling OEMs to develop desirable products and bring them faster to the market. Additionally, market for automotive is expected to grow at a higher CAGR during the forecast period owing to fast growth of electric vehicles in the market. Thermoelectric modules are deployed for the cooling and heating of batteries in electric and hybrid vehicles. .

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 30)
    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. - 34)
    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
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for estimating market size using top-down analysis (supply side)
                               FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                               FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE) � REVENUE GENERATED BY COMPANIES IN THERMOELECTRIC MODULES MARKET
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 6 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
    2.5 RISK ASSESSMENT
           TABLE 1 LIMITATIONS AND ASSOCIATED RISKS

3 EXECUTIVE SUMMARY (Page No. - 45)
    FIGURE 7 THERMOELECTRIC MODULES MARKET: 2018�2027 (USD MILLION)
    FIGURE 8 MULTI-STAGE THERMOELECTRIC MODULES SEGMENT EXPECTED TO EXPERIENCE FASTER GROWTH DURING FORECAST PERIOD
    FIGURE 9 MICRO THERMOELECTRIC MODULES MARKET TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 10 THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE APPLICATION TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 11 APAC ACCOUNTS FOR LARGEST SHARE OF THERMOELECTRIC MODULES MARKET IN 2022

4 PREMIUM INSIGHTS (Page No. - 49)
    4.1 ATTRACTIVE OPPORTUNITIES IN THERMOELECTRIC MODULES MARKET
           FIGURE 12 DEVELOPING ECONOMIES OFFER MAJOR GROWTH PROSPECTS IN THERMOELECTRIC MODULES MARKET
    4.2 BULK THERMOELECTRIC MODULES MARKET, BY REGION
           FIGURE 13 APAC TO WITNESS HIGHEST CAGR IN BULK THERMOELECTRIC MODULES SEGMENT DURING FORECAST PERIOD
    4.3 THERMOELECTRIC MODULES MARKET, BY FUNCTIONALITY
           FIGURE 14 GENERAL-PURPOSE THERMOELECTRIC MODULES TO LEAD MARKET DURING FORECAST PERIOD
    4.4 THERMOELECTRIC MODULES MARKET IN APAC, BY END-USE APPLICATION VS. BY COUNTRY
           FIGURE 15 CONSUMER ELECTRONICS IS LARGEST APPLICATION OF THERMOELECTRIC MODULES IN APAC
    4.5 THERMOELECTRIC MODULES MARKET, BY COUNTRY
           FIGURE 16 US ACCOUNTS FOR LARGEST SHARE OF THERMOELECTRIC MODULES MARKET IN 2022

5 MARKET OVERVIEW (Page No. - 52)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 17 IMPACT OF DRIVERS AND OPPORTUNITIES ON THERMOELECTRIC MODULES MARKET
           FIGURE 18 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 in several applications
                    5.2.1.3 Growth of electric and luxury vehicles increasing demand for TEMs
           5.2.2 RESTRAINTS
                    5.2.2.1 Inherent disadvantages and design complexities
                    5.2.2.2 High costs compared with 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
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 19 VALUE CHAIN ANALYSIS OF THERMOELECTRIC MODULES MARKET: R&D AND MANUFACTURING PHASES CONTRIBUTE MAXIMUM VALUE
    5.4 ECOSYSTEM/MARKET MAP
           FIGURE 20 THERMOELECTRIC MODULES MARKET ECOSYSTEM
           5.4.1 THERMOELECTRIC MODULE OEMS
           5.4.2 SUPPLIERS
           5.4.3 DISTRIBUTORS
           TABLE 2 THERMOELECTRIC MODULES MARKET: ECOSYSTEM
    5.5 PRICING ANALYSIS
           FIGURE 21 AVERAGE SELLING PRICE FORECAST OF THERMOELECTRIC MODULES (2020�2027)
           TABLE 3 AVERAGE SELLING PRICE OF THERMOELECTRIC MODULES, 2020�2027 (USD)
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS� BUSINESS
           FIGURE 22 REVENUE SHIFT FOR THERMOELECTRIC MODULES MARKET
    5.7 TECHNOLOGY ANALYSIS
           5.7.1 KEY TECHNOLOGIES
                    5.7.1.1 Thermoelectric generators
                    5.7.1.2 Thermoelectric heat pumps
           5.7.2 ADJACENT TECHNOLOGY
                    5.7.2.1 Traditional heat pumps
    5.8 TECHNOLOGY TRENDS
           5.8.1 NEW MATERIALS USED FOR MANUFACTURING THERMOELECTRIC MODULES
           5.8.2 MINIATURIZATION OF THERMOELECTRIC MODULES
    5.9 PORTER�S FIVE FORCES ANALYSIS
           TABLE 4 THERMOELECTRIC MODULES MARKET: PORTER�S FIVE FORCES ANALYSIS
           5.9.1 DEGREE OF COMPETITION
           5.9.2 BARGAINING POWER OF SUPPLIERS
           5.9.3 BARGAINING POWER OF BUYERS
           5.9.4 THREAT FROM SUBSTITUTES
           5.9.5 THREAT OF NEW ENTRANTS
    5.10 CASE STUDIES
           5.10.1 LAIRD THERMAL SYSTEMS USED THERMOELECTRIC MODULES FOR COOLING OPTICAL SENSORS
           5.10.2 LAIRD THERMAL SYSTEMS USED THERMOELECTRIC MODULES FOR VISION SYSTEMS
           5.10.3 LAIRD THERMAL SYSTEMS USED THERMOELECTRIC MODULES FOR PRESERVING MEDICAL REAGENTS
           5.10.4 II-VI MARLOW SHOWCASED THERMOELECTRIC COOLER FOR THERMAL CYCLING
           5.10.5 II-VI MARLOW SHOWCASED THERMOELECTRIC MODULES FOR ENERGY HARVESTING
           5.10.6 CRYSTAL DEVELOPED PROTOTYPE FOR LABORATORY RESEARCH EQUIPMENT
           5.10.7 MAHLE TESTING THERMOELECTRIC TECHNOLOGY IN AUTOMOTIVE APPLICATIONS
           5.10.8 PHONONIC LEVERAGED THERMOELECTRIC TECHNOLOGY TO DEVELOP CPU COOLER
           5.10.9 PHONONIC PROVIDED SOLID-STATE REFRIGERATION SOLUTIONS USING THERMOELECTRIC TECHNOLOGY
           5.10.10 PHONONIC OFFERED THERMOELECTRIC FREEZERS TO CONVENIENCE STORES
    5.11 TRADE ANALYSIS
           5.11.1 TRADE DATA
           FIGURE 23 IMPORT DATA FOR HS CODE 8418, BY COUNTRY, 2017�2021
           FIGURE 24 EXPORT DATA FOR HS CODE 8418, BY COUNTRY, 2017�2021
    5.12 PATENT ANALYSIS
           FIGURE 25 NUMBER OF PATENTS GRANTED PER YEAR, 2012�2021
           FIGURE 26 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           TABLE 5 TOP 20 PATENT OWNERS IN LAST 10 YEARS
           TABLE 6 LIST OF A FEW PATENTS IN THERMOELECTRIC MODULES MARKET, 2018�2021
    5.13 TARIFFS AND REGULATIONS
           5.13.1 TARIFFS RELATED TO THERMOELECTRIC MODULES
           5.13.2 REGULATIONS
                    5.13.2.1 Europe
                               5.13.2.1.1 RoHS
                    5.13.2.2 US
                               5.13.2.2.1 Telcordia GR-468
                               5.13.2.2.2 ITAR
           5.13.3 GLOBAL
                    5.13.3.1 Space qualifications

6 THERMOELECTRIC MODULES MARKET, BY MODEL (Page No. - 76)
    6.1 INTRODUCTION
           FIGURE 27 MULTI-STAGE THERMOELECTRIC MODULES TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 7 THERMOELECTRIC MODULES MARKET, BY MODEL, 2018�2021 (USD MILLION)
           TABLE 8 THERMOELECTRIC MODULES MARKET, BY MODEL, 2022�2027 (USD MILLION)
    6.2 SINGLE-STAGE
           6.2.1 SINGLE-STAGE THERMOELECTRIC MODULES HAVE ONLY ONE STAGE OR LAYER TO ACHIEVE STANDARD TEMPERATURE DIFFERENCES
    6.3 MULTI-STAGE
           6.3.1 MULTI-STAGE THERMOELECTRIC MODULES HAVE HIGH-TEMPERATURE DIFFERENTIALS BETWEEN HOT AND COLD SIDES OF MODULES

7 THERMOELECTRIC MODULES MARKET, BY TYPE (Page No. - 79)
    7.1 INTRODUCTION
           FIGURE 28 MICRO THERMOELECTRIC MODULES TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 9 THERMOELECTRIC MODULES MARKET, BY TYPE, 2018�2021 (USD MILLION)
           TABLE 10 THERMOELECTRIC MODULES MARKET, BY TYPE, 2022�2027 (USD MILLION)
           TABLE 11 THERMOELECTRIC MODULES MARKET, BY TYPE, 2021�2027 (MILLION UNITS)
    7.2 BULK THERMOELECTRIC MODULES
           7.2.1 BULK THERMOELECTRIC MODULES HAVE HIGHER POWER OUTPUT AND VOLTAGE COMPARED TO OTHER MODULES
                    TABLE 12 BULK THERMOELECTRIC MODULES MARKET, BY REGION, 2018�2021 (USD MILLION)
                    TABLE 13 BULK THERMOELECTRIC MODULES MARKET, BY REGION, 2022�2027 (USD MILLION)
    7.3 MICRO THERMOELECTRIC MODULES
           7.3.1 MICRO THERMOELECTRIC MODULES HELP IN REDUCING ENERGY CONSUMPTION OF ELECTRIC DEVICES
                    TABLE 14 MICRO THERMOELECTRIC MODULES MARKET, BY REGION, 2018�2021 (USD MILLION)
                    TABLE 15 MICRO THERMOELECTRIC MODULES MARKET, BY REGION, 2022�2027 (USD MILLION)
    7.4 THIN-FILM THERMOELECTRIC MODULES
           7.4.1 THESE MODULES PRODUCE MAXIMUM HEAT FLUX
                    TABLE 16 THIN-FILM THERMOELECTRIC MODULES MARKET, BY REGION,   2018�2021 (USD MILLION)
                    TABLE 17 THIN-FILM THERMOELECTRIC MODULES MARKET, BY REGION,   2022�2027 (USD MILLION)

8 THERMOELECTRIC MODULES MARKET, BY FUNCTIONALITY (Page No. - 85)
    8.1 INTRODUCTION
           FIGURE 29 GENERAL-PURPOSE THERMOELECTRIC MODULES TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 18 THERMOELECTRIC MODULES MARKET, BY FUNCTIONALITY, 2018�2021 (USD MILLION)
           TABLE 19 THERMOELECTRIC MODULES MARKET, BY FUNCTIONALITY, 2022�2027 (USD MILLION)
    8.2 GENERAL-PURPOSE
           8.2.1 TELECOMMUNICATIONS TO REMAIN LARGEST APPLICATION OF GENERAL-PURPOSE THERMOELECTRIC MODULES
                    TABLE 20 GENERAL-PURPOSE THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2018�2021 (USD MILLION)
                    TABLE 21 GENERAL-PURPOSE THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2022�2027 (USD MILLION)
    8.3 DEEP COOLING
           8.3.1 CONSUMER ELECTRONICS TO REMAIN LARGEST END USER OF DEEP COOLING THERMOELECTRIC MODULES
                    TABLE 22 DEEP COOLING THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2018�2021 (USD MILLION)
                    TABLE 23 DEEP COOLING THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2022�2027 (USD MILLION)

9 THERMOELECTRIC MODULES MARKET, BY OFFERING (Page No. - 90)
    9.1 INTRODUCTION
           FIGURE 30 HARDWARE COMPONENT TO HOLD LARGER SHARE OF MARKET THROUGHOUT FORECAST PERIOD
           TABLE 24 THERMOELECTRIC MODULES MARKET, BY OFFERING, 2018�2021 (USD MILLION)
           TABLE 25 THERMOELECTRIC MODULES MARKET, BY OFFERING, 2022�2027 (USD MILLION)
    9.2 HARDWARE
           9.2.1 HARDWARE OF THERMOELECTRIC MODULES INCLUDES VARIOUS ELEMENTS AND COMPONENTS THAT WORK AS A UNIT
    9.3 SERVICES
           9.3.1 SERVICES INCLUDE PROTOTYPING, DESIGNING, ENGINEERING, TESTING, AND COMPLIANCE

10 THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION (Page No. - 93)
     10.1 INTRODUCTION
             FIGURE 31 THERMOELECTRIC MODULES MARKET TO REGISTER HIGHEST CAGR IN AUTOMOTIVE APPLICATION DURING FORECAST PERIOD
             TABLE 26 THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION,   2018�2021 (USD MILLION)
             TABLE 27 THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION,   2022�2027 (USD MILLION)
     10.2 CONSUMER ELECTRONICS
             10.2.1 CONSUMER ELECTRONICS HELD LARGEST SHARE OF THERMOELECTRIC MODULES MARKET
                        TABLE 28 THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS,   BY FUNCTIONALITY, 2018�2021 (USD MILLION)
                        TABLE 29 THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS,   BY FUNCTIONALITY, 2022�2027 (USD MILLION)
                        TABLE 30 THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 31 THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY REGION, 2022�2027 (USD MILLION)
                        TABLE 32 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS , BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 33 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 34 EUROPE: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 35 EUROPE: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 36 APAC: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 37 APAC: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 38 ROW: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 39 ROW: THERMOELECTRIC MODULES MARKET IN CONSUMER ELECTRONICS, BY REGION, 2022�2027 (USD MILLION)
     10.3 INDUSTRIAL
             10.3.1 USE OF THERMOELECTRIC MODULES IN FOOD & BEVERAGES INDUSTRY DRIVING OVERALL MARKET
                        TABLE 40 THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY FUNCTIONALITY, 2018�2021 (USD MILLION)
                        TABLE 41 THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY FUNCTIONALITY, 2022�2027 (USD MILLION)
                        TABLE 42 THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 43 THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY REGION, 2022�2027 (USD MILLION)
                        TABLE 44 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 45 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 46 EUROPE: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 47 EUROPE: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 48 APAC: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 49 APAC: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 50 ROW: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 51 ROW: THERMOELECTRIC MODULES MARKET IN INDUSTRIAL, BY REGION, 2022�2027 (USD MILLION)
     10.4 TELECOMMUNICATIONS
             10.4.1 APAC TO ACCOUNT FOR LARGEST MARKET SHARE IN TELECOMMUNICATIONS APPLICATION DURING FORECAST PERIOD
                        TABLE 52 THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY FUNCTIONALITY, 2018�2021 (USD MILLION)
                        TABLE 53 THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY FUNCTIONALITY, 2022�2027 (USD MILLION)
                        TABLE 54 THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 55 THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY REGION, 2022�2027 (USD MILLION)
                        TABLE 56 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 57 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 58 EUROPE: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 59 EUROPE: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 60 APAC: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS,   BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 61 APAC: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS,   BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 62 ROW: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 63 ROW: THERMOELECTRIC MODULES MARKET IN TELECOMMUNICATIONS, BY REGION, 2022�2027 (USD MILLION)
     10.5 AUTOMOTIVE
             10.5.1 MARKET IN AUTOMOTIVE APPLICATION TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
                        TABLE 64 THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY FUNCTIONALITY, 2018�2021 (USD MILLION)
                        TABLE 65 THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY FUNCTIONALITY, 2022�2027 (USD MILLION)
                        TABLE 66 THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY REGION,   2018�2021 (USD MILLION)
                        TABLE 67 THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY REGION,   2022�2027 (USD MILLION)
                        TABLE 68 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 69 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 70 EUROPE: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 71 EUROPE: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 72 APAC: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 73 APAC: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 74 ROW: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 75 ROW: THERMOELECTRIC MODULES MARKET IN AUTOMOTIVE, BY REGION, 2022�2027 (USD MILLION)
     10.6 MEDICAL & LABORATORIES
             10.6.1 NEED FOR TEMPERATURE STABILIZATION BOOSTING DEMAND FOR THERMOELECTRIC MODULES IN MEDICAL & LABORATORIES
                        TABLE 76 THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES,   BY FUNCTIONALITY, 2018�2021 (USD MILLION)
                        TABLE 77 THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES,   BY FUNCTIONALITY, 2022�2027 (USD MILLION)
                        TABLE 78 THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 79 THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY REGION, 2022�2027 (USD MILLION)
                        TABLE 80 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 81 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 82 EUROPE: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 83 EUROPE: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 84 APAC: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 85 APAC: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 86 ROW: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 87 ROW: THERMOELECTRIC MODULES MARKET IN MEDICAL & LABORATORIES, BY REGION, 2022�2027 (USD MILLION)
     10.7 AEROSPACE & DEFENSE
             10.7.1 MARLOW AND RMT ARE AMONG KEY COMPANIES CATERING TO DEMAND IN AEROSPACE & DEFENSE APPLICATION
                        TABLE 88 THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY FUNCTIONALITY, 2018�2021 (USD MILLION)
                        TABLE 89 THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY FUNCTIONALITY, 2022�2027 (USD MILLION)
                        TABLE 90 THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 91 THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY REGION, 2022�2027 (USD MILLION)
                        TABLE 92 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 93 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 94 EUROPE: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 95 EUROPE: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 96 APAC: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE,   BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 97 APAC: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE,   BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 98 ROW: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 99 ROW: THERMOELECTRIC MODULES MARKET IN AEROSPACE & DEFENSE, BY REGION, 2022�2027 (USD MILLION)
     10.8 OIL & GAS AND MINING
             10.8.1 THERMOELECTRIC MODULES USED IN GAS ANALYZERS, METERING EQUIPMENT, AND REMOTE TELEMETRY UNITS
                        TABLE 100 THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY FUNCTIONALITY, 2018�2021 (USD MILLION)
                        TABLE 101 THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY FUNCTIONALITY, 2022�2027 (USD MILLION)
                        TABLE 102 THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 103 THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY REGION, 2022�2027 (USD MILLION)
                        TABLE 104 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 105 NORTH AMERICA: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 106 EUROPE: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 107 EUROPE: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 108 APAC: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY COUNTRY, 2018�2021 (USD MILLION)
                        TABLE 109 APAC: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING,   BY COUNTRY, 2022�2027 (USD MILLION)
                        TABLE 110 ROW: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY REGION, 2018�2021 (USD MILLION)
                        TABLE 111 ROW: THERMOELECTRIC MODULES MARKET IN OIL & GAS AND MINING, BY REGION, 2022�2027 (USD MILLION)

11 GEOGRAPHIC ANALYSIS (Page No. - 127)
     11.1 INTRODUCTION
             FIGURE 32 THERMOELECTRIC MODULES MARKET IN APAC TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
             TABLE 112 THERMOELECTRIC MODULES MARKET, BY REGION, 2018�2021 (USD MILLION)
             TABLE 113 THERMOELECTRIC MODULES MARKET, BY REGION, 2022�2027 (USD MILLION)
             TABLE 114 THERMOELECTRIC MODULES MARKET, BY REGION, 2021�2027 (MILLION UNITS)
     11.2 NORTH AMERICA
             FIGURE 33 NORTH AMERICA: THERMOELECTRIC MODULES MARKET SNAPSHOT
             TABLE 115 NORTH AMERICA: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2018�2021 (USD MILLION)
             TABLE 116 NORTH AMERICA: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2022�2027 (USD MILLION)
             TABLE 117 NORTH AMERICA: THERMOELECTRIC MODULES MARKET, BY TYPE,   2018�2021 (USD MILLION)
             TABLE 118 NORTH AMERICA: THERMOELECTRIC MODULES MARKET, BY TYPE,   2022�2027 (USD MILLION)
             TABLE 119 NORTH AMERICA: THERMOELECTRIC MODULES MARKET, BY COUNTRY, 2018�2021 (USD MILLION)
             TABLE 120 NORTH AMERICA: THERMOELECTRIC MODULES MARKET, BY COUNTRY, 2022�2027 (USD MILLION)
             11.2.1 US
                        11.2.1.1 Industrial clusters using thermoelectric modules to improve efficiency and provide clean energy
             11.2.2 CANADA
                        11.2.2.1 Industrial and automotive applications driving growth of thermoelectric modules market in Canada
             11.2.3 MEXICO
                        11.2.3.1 Growing automotive and industrial applications driving thermoelectric modules
     11.3 EUROPE
             FIGURE 34 EUROPE: THERMOELECTRIC MODULES MARKET SNAPSHOT
             TABLE 121 EUROPE: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2018�2021 (USD MILLION)
             TABLE 122 EUROPE: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2022�2027 (USD MILLION)
             TABLE 123 EUROPE: THERMOELECTRIC MODULES MARKET, BY TYPE, 2018�2021 (USD MILLION)
             TABLE 124 EUROPE: THERMOELECTRIC MODULES MARKET, BY TYPE, 2022�2027 (USD MILLION)
             TABLE 125 EUROPE: THERMOELECTRIC MODULES MARKET, BY COUNTRY,   2018�2021 (USD MILLION)
             TABLE 126 EUROPE: THERMOELECTRIC MODULES MARKET, BY COUNTRY,   2022�2027 (USD MILLION)
             11.3.1 GERMANY
                        11.3.1.1 Germany estimated to hold largest share of thermoelectric modules market in Europe
             11.3.2 UK
                        11.3.2.1 Growing industrial and automotive sectors to drive market in UK
             11.3.3 FRANCE
                        11.3.3.1 Government incentives to reduce emissions to boost market growth in France
             11.3.4 ITALY
                        11.3.4.1 Presence of luxury and high-performance automotive manufacturers to drive market in Italy
             11.3.5 REST OF EUROPE
     11.4 ASIA PACIFIC
             FIGURE 35 APAC: THERMOELECTRIC MODULES MARKET SNAPSHOT
             TABLE 127 APAC: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2018�2021 (USD MILLION)
             TABLE 128 APAC: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2022�2027 (USD MILLION)
             TABLE 129 APAC: THERMOELECTRIC MODULES MARKET , BY TYPE, 2018�2021 (USD MILLION)
             TABLE 130 APAC: THERMOELECTRIC MODULES MARKET , BY TYPE, 2022�2027 (USD MILLION)
             TABLE 131 APAC: THERMOELECTRIC MODULES MARKET, BY COUNTRY, 2018�2021 (USD MILLION)
             TABLE 132 APAC: THERMOELECTRIC MODULES MARKET, BY COUNTRY, 2022�2027 (USD MILLION)
             11.4.1 CHINA
                        11.4.1.1 China to hold largest share of thermoelectric modules market in APAC during forecast period
             11.4.2 JAPAN
                        11.4.2.1 Consumer electronics market driving growth of thermoelectric modules in Japan
             11.4.3 SOUTH KOREA
                        11.4.3.1 Thermoelectric modules market in South Korea dominated by telecommunications and automotive applications
             11.4.4 REST OF APAC
     11.5 ROW
             TABLE 133 ROW: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2018�2021 (USD MILLION)
             TABLE 134 ROW: THERMOELECTRIC MODULES MARKET, BY END-USE APPLICATION, 2022�2027 (USD MILLION)
             TABLE 135 ROW: THERMOELECTRIC MODULES MARKET, BY TYPE, 2018�2021 (USD MILLION)
             TABLE 136 ROW: THERMOELECTRIC MODULES MARKET, BY TYPE, 2022�2027 (USD MILLION)
             TABLE 137 ROW: THERMOELECTRIC MODULES MARKET, BY REGION, 2018�2021 (USD MILLION)
             TABLE 138 ROW: THERMOELECTRIC MODULES MARKET, BY REGION, 2022�2027 (USD MILLION)
             11.5.1 SOUTH AMERICA
                        11.5.1.1 South America to hold larger share of thermoelectric modules market in RoW
             11.5.2 MIDDLE EAST & AFRICA
                        11.5.2.1 Oil & gas industry to drive adoption of thermoelectric modules in Middle East

12 COMPETITIVE LANDSCAPE (Page No. - 145)
     12.1 OVERVIEW
     12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
             TABLE 139 OVERVIEW OF STRATEGIES ADOPTED BY KEY THERMOELECTRIC MODULE MANUFACTURERS
     12.3 REVENUE ANALYSIS OF TOP COMPANIES
             FIGURE 36 REVENUE ANALYSIS OF TOP FIVE PLAYERS IN THERMOELECTRIC MODULES MARKET
     12.4 MARKET SHARE ANALYSIS: THERMOELECTRIC MODULES MARKET, 2021
           TABLE 140 THERMOELECTRIC MODULES MARKET: DEGREE OF COMPETITION, 2021
     12.5 COMPANY EVALUATION QUADRANT
             12.5.1 STARS
             12.5.2 EMERGING LEADERS
             12.5.3 PERVASIVE COMPANIES
             12.5.4 PARTICIPANTS
                        FIGURE 37 THERMOELECTRIC MODULES MARKET: COMPANY EVALUATION   QUADRANT, 2021
     12.6 START-UPS/SMALL- AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION QUADRANT, 2021
           TABLE 141 LIST OF START-UPS IN THERMOELECTRIC MODULES MARKET
             12.6.1 PROGRESSIVE COMPANIES
             12.6.2 RESPONSIVE COMPANIES
             12.6.3 DYNAMIC COMPANIES
             12.6.4 STARTING BLOCKS
                        FIGURE 38 THERMOELECTRIC MODULES MARKET, START-UPS/SMES EVALUATION QUADRANT, 2021
     12.7 COMPANY FOOTPRINT
             TABLE 142 OVERALL COMPANY FOOTPRINT
             TABLE 143 COMPANY PRODUCT TYPE FOOTPRINT
             TABLE 144 COMPANY END-USE APPLICATION FOOTPRINT
             TABLE 145 COMPANY REGION FOOTPRINT
     12.8 COMPETITIVE SCENARIO
             12.8.1 PRODUCT LAUNCHES
                        TABLE 146 PRODUCT LAUNCHES, 2019�2022
             12.8.2 DEALS
                        TABLE 147 DEALS, 2019�2022

13 COMPANY PROFILES (Page No. - 158)
     13.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, MNM view)*
             13.1.1 FERROTEC
                        TABLE 148 FERROTEC: BUSINESS OVERVIEW
                        FIGURE 39 FERROTEC: COMPANY SNAPSHOT
             13.1.2 LAIRD THERMAL SYSTEMS
                        TABLE 149 LAIRD THERMAL SYSTEMS: BUSINESS OVERVIEW
             13.1.3 II-VI INCORPORATED
                        TABLE 150 II-VI INCORPORATED: BUSINESS OVERVIEW
                        FIGURE 40 II-VI INCORPORATED: COMPANY SNAPSHOT
             13.1.4 KELK
                        TABLE 151 KELK: BUSINESS OVERVIEW
             13.1.5 GUANGDONG FUXIN TECHNOLOGY
                        TABLE 152 GUANGDONG FUXIN TECHNOLOGY: BUSINESS OVERVIEW
             13.1.6 TE TECHNOLOGY
                        TABLE 153 TE TECHNOLOGY: BUSINESS OVERVIEW
             13.1.7 TEC MICROSYSTEMS
                        TABLE 154 TEC MICROSYSTEMS: BUSINESS OVERVIEW
             13.1.8 CRYSTAL
                        TABLE 155 CRYSTAL: BUSINESS OVERVIEW
             13.1.9 KRYOTHERM
                        TABLE 156 KRYOTHERM: BUSINESS OVERVIEW
             13.1.10 THERMION COMPANY
                        TABLE 157 THERMION COMPANY: BUSINESS OVERVIEW
             13.1.11 Z-MAX
                        TABLE 158 Z-MAX: BUSINESS OVERVIEW
             13.1.12 PHONONIC
                        TABLE 159 PHONONIC: BUSINESS OVERVIEW
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
     13.2 OTHER KEY PLAYERS
             13.2.1 ALIGN SOURCING
             13.2.2 EVERREDTRONICS
             13.2.3 HITECH TECHNOLOGIES
             13.2.4 HI-Z TECHNOLOGY
             13.2.5 HUI MAO
             13.2.6 INHECO INDUSTRIAL HEATING & COOLING
             13.2.7 KJLP (SHENZHEN) ELECTRONICS
             13.2.8 KYOCERA CORPORATION
             13.2.9 MERIT TECHNOLOGY GROUP
             13.2.10 P&N TECHNOLOGY
             13.2.11 THERMONAMIC ELECTRONICS
             13.2.12 WELLEN TECHNOLOGY
             13.2.13 XIAMEN HICOOL ELECTRONICS

14 ADJACENT & RELATED MARKETS (Page No. - 193)
     14.1 INTRODUCTION
     14.2 LIMITATIONS
     14.3 ENERGY HARVESTING MARKET, BY COMPONENT
             TABLE 160 ENERGY HARVESTING SYSTEM MARKET, BY COMPONENT, 2018�2020 (USD MILLION)
             TABLE 161 ENERGY HARVESTING SYSTEM MARKET, BY COMPONENT, 2021�2026 (USD MILLION)
     14.4 TRANSDUCERS
             14.4.1 PHOTOVOLTAICS
                        14.4.1.1 Photovoltaic transducers market driven by building automation, consumer electronics, and transportation applications
             14.4.2 ELECTRODYNAMIC, PIEZOELECTRIC, AND ELECTROMAGNETIC
                        14.4.2.1 Electrodynamics
                                     14.4.2.1.1 Electrodynamic systems used in harsh conditions, such as centrifugal acceleration, high axial and radial static displacement, and tilting movement
                        14.4.2.2 Piezoelectric
                                     14.4.2.2.1 Piezoelectric energy harvesters used in switches, boots, and other small equipment that provide pressure and strain
                        14.4.2.3 Electromagnetic
                                     14.4.2.3.1 Electromagnetic transducers can be installed in rail tracks, bridges, helicopter dampers, and car suspensions
             14.4.3 THERMOELECTRIC
                        14.4.3.1 Thermoelectric transducers are mainly used for energy harvesting in industries and automobiles
             14.4.4 RADIOFREQUENCY (RF) TRANSDUCERS
                        14.4.4.1 RF transducers predominantly used in switches, fitness trackers, smartwatches, wireless charging headphones, smart cards, and RFID tags
                                     TABLE 162 ENERGY HARVESTING SYSTEM MARKET FOR TRANSDUCERS, BY TYPE, 2018�2020 (USD MILLION)
                                     TABLE 163 ENERGY HARVESTING SYSTEM MARKET FOR TRANSDUCERS, BY TYPE, 2021�2026 (USD MILLION)
                                     TABLE 164 ENERGY HARVESTING SYSTEM MARKET FOR TRANSDUCERS, BY TECHNOLOGY, 2018�2020 (USD MILLION)
                                     TABLE 165 ENERGY HARVESTING SYSTEM MARKET FOR TRANSDUCERS, BY TECHNOLOGY, 2021�2026 (USD MILLION)
     14.5 POWER MANAGEMENT INTEGRATED CIRCUITS
             14.5.1 PMIC PLAYS CRUCIAL ROLE IN MANAGEMENT OF POWER GENERATED THROUGH ENERGY-HARVESTING DEVICES
                        TABLE 166 ENERGY HARVESTING SYSTEM MARKET FOR PMICS, BY TECHNOLOGY, 2018�2020 (USD THOUSAND)
                        TABLE 167 ENERGY HARVESTING SYSTEM MARKET FOR PMICS, BY TECHNOLOGY, 2021�2026 (USD THOUSAND)
     14.6 SECONDARY BATTERIES
             14.6.1 LITHIUM-ION BATTERIES MAINLY USED AS SECONDARY BATTERIES IN ENERGY-HARVESTING SYSTEMS
                        TABLE 168 ENERGY HARVESTING SYSTEM MARKET FOR SECONDARY BATTERIES, BY TYPE, 2018�2020 (USD MILLION)
                        TABLE 169 ENERGY HARVESTING SYSTEM MARKET FOR SECONDARY BATTERIES, BY TYPE, 2021�2026 (USD MILLION)
                        TABLE 170 ENERGY HARVESTING SYSTEM MARKET FOR SECONDARY BATTERIES, BY TECHNOLOGY, 2018�2020 (USD MILLION)
                        TABLE 171 ENERGY HARVESTING SYSTEM MARKET FOR SECONDARY BATTERIES, BY TECHNOLOGY, 2021�2026 (USD MILLION)

15 APPENDIX (Page No. - 203)
     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: Bottom-Up Approach

Thermoelectric Modules Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

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: