Thermoelectric Cooler Market Value Projected to Expand by 2018 to 2028

The global market for thermoelectric coolers has been expanding on account of the unique phenomenon of heat sink that is used in these coolers. The heat-sink mechanism helps in removal of heat of orders as high as 1000 watt, and this is important consideration for their usage across several industries. Scientific laboratories use thermoelectric coolers for a range of functions including forensic research and medical research. The presence of a minimal temperature for several telecommunications operations has also led to an increased demand within the global market for thermoelectric coolers.

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The domain of submarines is massive, and the use of thermoelectric coolers in this field is a testimony to the affluence of the global market for thermoelectric coolers. Furthermore, cooling within railroad cars is also done by installing thermoelectric coolers in its system. Besides this, the field of semiconductor manufacturing also deploys thermoelectric coolers in order to maintain the require temperature. Wine cabinets, tissue preparation and storage, restaurant portion dispenser, parametric amplifiers, and stir coolers are some other areas wherein the use of thermoelectric coolers is indispensable.

The market for thermoelectric cooler in North America has attracted commendable demand over the past decade. This increased regional demand owes to the prominence of key sub-domains such as thermal cycling, nigh vision aids, and osmometers in the US and Canada.

Understanding several facts associated with thermoelectric coolers, Fact.MR has come up with an analytical research report on global thermoelectric cooler market that focuses on the value and volume trajectories for a period of nine years (2018 till 2027). This research report also includes several facets of the thermoelectric coolers that have an influence on the growth of the global thermoelectric cooler market. For instance, the study covers brief analysis on various trends, key developments and innovations and opportunities revolving around thermoelectric coolers that manufacturers are in process or have introduced in the global market recently.

In this extensive research report, key participants involved in the global thermoelectric cooler market have been analyzed and profiled. Their market financials such as sales, market shares, strategies, product developments, product portfolio, SWOT analysis and overall company overview has been entailed in this research report. Main participants profiled include Ferrotec Corporation, Applied Thermoelectric Solutions LLC, Adcol Electronics, Beijing Huimao Cooling Co., Ltd., AMS Technologies, Analog Technologies, Gentherm, TEC Microsystems, TE Technologies Inc., Taicang TE Cooler Co., Ltd., and II-VI Marlow, Hicooltec Electronics, to name a few. Various product enhancements and mergers and strategic alliances have been taking place in the thermoelectric cooler space. For instance, AMS Technologies recently acquired ELFORLIGHT, with which AMS would be able to gain turnkey solutions.

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Growth in Consumer Electronics Sector to Influence Sales of Thermoelectric Coolers in the Following Years

Consumer electronics industry has been expanding at a significant rate with increasing use of smart electronic devices, increasing digitalization and changing lifestyle. In consumer electronics, thermoelectric coolers are typically used in cooling of telecom devices, central processing units, battery thermal management and kiosk cooling. The growing adoption of these consumer goods is expected to aid the growth in sales as well as demand for thermoelectric coolers in the coming years. In addition, companies are providing refrigerated (POP) Point Of Purchase displays, for instance II-VI Marlow, for various commercial vendors. These thermoelectric coolers offer several advantages for applications where small size is involved, as compared to traditional refrigerators that are compressor based. They offer lightweight, compact and cost effective solutions, which is triggering their use in the consumer electronics sector.

Thermoelectric Coolers in the Automotive Industry – Significant Demand for TE Coolers

Thermoelectrics are largely used in the automotive industry for cooling or heating of vehicle seats. Owing to efficient cooling provided by thermoelectric coolers, car seats in the rear and front can be individually cooled depending on the preference of the occupant. This delivers custom comfort to each person in the vehicle.

Moreover, with growing trend of hybrid electric vehicles (HEV), the demand for thermoelectric coolers is expected to grow in the following years. Hybrid electric vehicle batteries need effective cooling solutions that stabilize temperature during vehicle run. Thermoelectric cooler offer maximum cooling that controls the battery temperature and delivers maximum performance, given any external condition or environment. This is expected to support the sale of thermoelectric coolers in the coming years.

Thermoelectric Coolers for Mattress Applications

Thermal comfort of a bedding or mattress system is essential to obtain quality sleep. There has been an increasing trend in the mattress and bedding industry to use materials that induce efficient cooling effect such as cooling gels. However, these cooling materials are passive in nature and lack in cooling consistency after their first use. To cater to this issue, market participants are focusing on developing novel technology that facilitates active cooling that could be incorporated in mattresses for higher comfort. Thermoelectric coolers or peltier coolers offer unique active cooling solutions as they offer precise control over temperature. Initial prototypes have been developed. In the coming future, there would be an increased focus on novel device modelling in order to enhance the design before fabrication coupled with development of printed thermoelectrics for use in textiles.

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