Energy Harvesting Trees Market Research Report Information Report By Component, Technology, Application and Region - Global Forecast to 2023

Market Overview

As per the comprehensive analysis by Market Research Future (MRFR), the global energy harvesting market is predicted to have a lavish growth trajectory, reaching the value of USD 1,126 Million during the forecast period (2018-2023).

Energy harvesting trees have the ability to trap infinite energy from the surrounding energy sources, offering an innovative way for the generation of clean energy which is also sustainable. Renewable energy is emerging as the power source for future use owing to the continuously depleting resources of fossil fuels. Energy harvesting is considered an alternative technique for solving the problem of energy scarcity for the purpose of energy conservation. Growing cost of fossil fuels serves as an area for concern. Therefore, the increasing scarcity of non-renewable resources coupled with the growing energy demands of the expanding population presents various growth opportunities to the global energy harvesting trees market.

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With sharper focus on sustainability combined with the growing initiatives for reduction of carbon footprint on the environment, numerous countries are encouraging the use of renewable energy sources. This factor serves to bolster the demand for global energy harvesting trees market. Conventional energy harvesting techniques rely heavily on vast expanses of land, as well as large and expensive transmission networks that ultimately reduce the amount of available power owing to transmission loss. Moreover, energy harvesting trees are comparatively more efficient than traditional solar energy systems, generating maximum amount of energy with minimum land usage for solar parking. These benefits propel the demand for energy harvesting trees, pushing the growth of the global market in an upward trajectory.

Market Segmentation

The market for energy harvesting trees is segmented on the basis of component, technology, and application.

Component-wise, the energy harvesting trees market is segmented into nanoleaves, long tower, light emitting diodes (LEDs), batteries and others.

Technology-based segments in the global market are photovoltaic (PV), thermovoltaics (TV), and Piezovoltaic (PZ). Among these, Piezovoltaic (PZ) is noted to hold the largest share, with the consistent expansion of the piezoelectric energy harvesting industry. Leaves, stems, and twigs constitute nano-piezovoltaic material that generates electrical energy from wind, solar, tides as well as rain energy. Also, the declining cost of photovoltaic panels in recent times has turned solar power into a much more viable aspect, attracting more investment in the growing regions.

The applications where energy harvesting trees are utilized include commercial and residential.

Regional Outlook

The energy harvesting trees market is segmented into the key regions of Europe, North America, Asia-Pacific, and Rest of the World.

The Asia Pacific is growing at the fastest rate followed by North America and Europe. As energy harvesting trees help fulfill energy demand, at the same time-saving space and ensuring continuous supply of electricity. To illustrate, it has been implemented in India for providing electricity without the issues of power cut and the extra energy provided to the grid.

Factors like growing population, along with the problem of energy supply, in addition to the massive investment made for solar trees is fueling the growth of the market in the regions of Europe and North America.

Key Vendors

The key vendors contributing to the global energy harvesting trees market include Spotlight Solar, Creative Smart Innovations, Solar Botanic, Green World Investor, Lucid Management Group, Envision Solar, and others.

Industry News

January 2019 – A KAIST research team has successfully measured and controlled the near-field thermal radiation between the various metallo-dielectric (MD) multilayer structures. The thermal radiation control technology developed by the team is applied to the thermophotovoltaic cells, which has the potential to be applied to a sustainable energy source for internet of things (IoT) sensors.

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