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Thermoelectric Modules Market Insights by 2031 & Covid-19 Analysis | Ferrotec, II-VI Incorporated, KELK
Thermoelectric Modules Market
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Thermoelectric modules (TEMs) are devices that can convert heat into electricity and vice versa. TEMs are made up of two types of materials, called n-type and p-type semiconductors. These materials are connected together to form a circuit. When there is a temperature difference between the two materials, electrons flow from the hot side to the cold side.
Key Trends:
The automotive industry is one of the major consumers of thermoelectric modules. The automotive industry is shifting its focus from traditional internal combustion engine (ICE) vehicles to electric vehicles (EVs). The growing demand for EVs is expected to drive the growth of the thermoelectric modules market during the forecast period. Consumer electronics was the second-largest application segment of the global thermoelectric modules market.
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Key Drivers:
The key drivers of the thermoelectric modules market are rising demand for energy-efficient cooling and heating solutions, growing adoption of fuel cells, and increasing use of waste heat recovery systems. The rising demand for energy-efficient cooling and heating solutions is a major driver of the thermoelectric modules market. TEMs offer a more efficient and environmentally-friendly alternative to conventional cooling and heating methods, such as refrigeration and air conditioning.
Market Segmentation:
The market is segmented by device type, display technology, application, and region. By device type, the market is classified into AR HMDs, VR HMDs, AR HUD,s and VR projectors. By display technology, the market is divided into LCD, OLED, and others. By application the market is bifurcated into consumer, commercial, enterprise, automotive and others. Region-wise, market is s segmented into North America, Europe, Asia-Pacific and rest of the world.
Key Players:
The key players in the market are Ferrotec, II-VI Incorporated, KELK, Laird Thermal Systems, Guangdong Fuxin Technology, TE Technology, Phononic, INHECO Industrial Heating & Cooling, Kryotherm, and Kyocera Corporation.
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