openPR Logo
Press release

Thermoelectric Modules Market : Qualitative Benefits Propel Industrial Application of Thermoelectric Modules

The global thermoelectric modules market for demonstrates a high degree of consolidation with only a few players, namely, Marlow Industries, Ferrotec Corp., KELK Ltd., and Laird Technologies Inc., acquiring the lead, finds TMR in a study. To sustain the intensifying competition, key companies are increasingly focusing on innovations as well as advancements of thermoelectric systems existent in their portfolios.

Penetration of international market through mergers, acquisitions, and collaborations is another significant strategy adopted by leading thermoelectric modules manufacturers, looking to expand their global footprints in order to gain competitive advantages. For instance, Laird Technologies recently acquired Nextreme Thermal Solutions, a U.S.-based thin film thermoelectric module producer.

Obtain Report Details @

Going forward, the competition between these companies is likely to intensify due to the introduction of a number of advanced as well as cost-efficient thermoelectric systems in the near future. Manufacturers will require shifting their focus on scalability and configurability of thermoelectric modules to cater to a wide range of industrial applications in order to strengthen their positions. Advancements in their in-house production capabilities, leading to a low-cost production of thermoelectric assemblies and other thermoelectric devices, will also benefit these manufacturers in the long run.

Qualitative Benefits Propel Industrial Application of Thermoelectric Modules

Thermoelectric modules offer a number of advantages over conventional cooling systems. The properties such as compact geometric size, lower power consumption, precise temperature control and cycling, reliable solid state operations, integrated design, fully reversible switch in polarity, and rapid response time of these modules have fueled their popularity significantly. Thermoelectric systems are witnessing a widespread application in the semiconductor, automotive, telecommunications, aerospace, defense, medical and healthcare, and consumer electronics sectors, owing to these properties.

On the flip side, the high cost of these modules, compared to traditional cooling and refrigeration systems, is creating hindrances in their adoption across various industry verticals. Although the continual research to develop highly effective thermoelectric systems at low costs is anticipated to minimalize the impact of this factor in the coming years.

Asia Pacific Remains Leading Consumer, North America to Witness Fastest Growth

“The demand for thermoelectric modules is registering a remarkable rise across the world,” finds TMR. Analysts estimate the global opportunity in thermoelectric modules to increase from US$364.1 mn in 2014 to US$829.5 mn by 2023, expanding at a CAGR of 9.50% between 2015 and 2023.

Make an Enquiry @

Asia Pacific emerged as the key consumer of these modules in 2014, contributing US$120.0 mn in the overall revenue generated. Throughout the forecast period, the regional market is projected to remain the key contributor; however, these modules will witness the fastest growth rate in North America.

Bulk modules witness the most prominent demand among all thermoelectric modules in 2014 and is anticipated to remain leading over the forecast period. Other modules, micro and thin films, are also expected to report healthy growth in the coming years. Bulk modules find key application in consumer electronics, micro modules are mostly applied in lasers and LEDs, and detectors and sensors are the prime application areas for thin film modules.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Thermoelectric Modules Market : Qualitative Benefits Propel Industrial Application of Thermoelectric Modules here

News-ID: 787452 • Views: 315

More Releases from Transparency Market Research

Cosmetic Bottles Packaging Market To Experience A Hike In Growth By 2017 - 2022
Global Cosmetic Bottles Packaging Market: Snapshot The global cosmetic bottles packaging market is projected to improve its value to a significant high in the coming years. The buying decision of cosmetic product consumers could be influenced by the technique, material, and design of packaging. Get report details: Besides marketing cosmetic products, packaging could play a critical role in protecting them from damage during handling or traveling. Cosmetic bottles packaging is foreseen to
Track and Field Spikes Market Size, Share, Top Region, Key Players 2017 - 2025
Global track and field spikes market: Snapshot The significant increase in popularity of sports across the world and the dramatic rise in participation of female athletes has been showing a positive impact on the demand for track and field spikes. Apart from this, the escalating number of track and field events, including running, jumping, and throwing, are also boosting their demand substantially. Get report details: Over the forthcoming years, the continual innovation
Pharmaceutical Plastic Bottles Market Key Players, Size, Trends, Opportunities a …
U.S. Pharmaceutical Plastic Bottles Market: Snapshot The U.S. pharmaceutical plastic bottles market derives much of its growth by addressing the growing sustainability concerns by increasing the recycling rate of plastics and lowering the environmental impact in the pharmaceutical industry. The advancements in the technology has emerged as the key growth driver of this market. Apart from this, the rising application of plastic bottles in solid and liquid oral medications is also
Auto-disable Syringes Market Size, Specific Opportunities and Trends Affecting t …
Auto-disable Syringes Market Auto-disable syringes are meant for one-time use only and are built in a manner wherein the internal mechanism blocks the barrel used in the syringe when applied in the first use. Wellbeing syringes are Security Designed Gadget (SED) that utilizes injury assurance component which gives insurance from blood borne microorganisms or substance perils. Contamination avoidance among patients just as medical care experts like specialists, attendants, and other staff

All 5 Releases

More Releases for TMR

TMR Research
Global 3D Animation Market: Snapshot The evolution and introduction of three-dimensional (3D) animation has given the world of animation a new perspective. The process of creating 3D moving images in a digital space through objects or models has given these illusions depth. One of the most fundamental differences between 2D animation and 3D animation is the technique used for creating the images and the way they look. The global 3D animation
Various strategies are leveraged by success-hungry players in the global hyperbaric oxygen therapy devices market. One of them is the thrust on research and development to come up with new or better products. Their focus is on building cost-effective medical devices that would see greater uptake. Strategic partnerships are also being undertaken by them to diversify product portfolios and gain greater share. Further, companies are shifting their gaze to developing
Monolithic Ceramics Market Analysis : TMR
Transparency Market Research has published a new market report titled “Monolithic Ceramics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global monolithic ceramics market was valued at US$ 19.43 Bn in 2014 and is anticipated to reach US$ 36.64 Bn by 2023, expanding at a CAGR of 7.3% between 2015 and 2023. Request to view Sample Report: Monolithic ceramics are
Wax Market Analysis : TMR
A recent research report published by Transparency Market Research projects the global wax market to expand at a CAGR of 2.6% during the period between 2014 and 2020. The report, titled “Wax Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” estimates the global wax market to be worth US$8.98 bn by 2020. The overall market stood at a valuation of US$8.21 bn in 2013
TMR - Electrical Submersible Pumps Market by 2022
A large number of prominent enterprises with strong brands currently represent the majority in the global electrical submersible pumps (ESPs) market. This provides the market with a highly competitive vendor landscape. According to Transparency Market Research (TMR), the top four companies operating in the market, comprising Schlumberger Limited, Borets Company, LLC, Baker Hughes Incorporated, and GE Oil & Gas, held over 86% of the global ESP market in 2013. In
Sulfone Polymers Market Analysis : TMR
Global Sulfone Polymers Market: Snapshot Several grades/varieties of sulfone polymers have gained vast applicability across a number of industries in the past few years. The relatively higher level of resistance wear and corrosion provided by these materials as compared to metals have increased their usage in medical devices and implants. Owing to their high transparency resistance, low weight, and high performance, the demand for sulfone polymers is also rising in the