Thermoelectric Modules Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022

MarketResearchNest.com adds “Global Thermoelectric Modules Market 2017-2021” new report to its research database. The report spread across 107 pages with table and figures in it.
Research analysts forecast the global thermoelectric modules market to grow at a CAGR of 9.91% during the period 2017-2021.

About Thermoelectric Modules
Thermoelectric modules are semiconductor cooling devices, which work using the movement of heat when current flows through the junction of two distinct metals. Therefore, when a low voltage DC power source is applied to the thermoelectric module, heat will be transferred from one side to the other via the module. These modules offer several advantages over the traditional cooling systems such as accurate temperature control and cycling, compact formfactor, energy efficiency, low power consumption, robust and durable design, fully reversible switch in polarity, and rapid response time. As a result of such benefits, thermoelectric modules find applications in automotive (climate control seats of automobiles), consumer electronics (ACs and dryers), aerospace and defense, healthcare (biotechnology), industrial (cooling chillers), and telecommunication (optical communications) sectors. However, the cost of these modules is expensive compared with the conventional cooling and refrigeration systems, which is hampering their adoption. Therefore, vendors will focus on developing cost-effective thermoelectric modules that offer efficiency, reliability, and increased precision to gain a competitive advantage in the market during the forecast period.

Covered in this report

The report covers the present scenario and the growth prospects of the global thermoelectric modules market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price (ASP) of the product.

Browse full table of contents and data tables at https://www.marketresearchnest.com/global-thermoelectric-modules-market-2017-2021.html

The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA

Technavio's report, Global Thermoelectric Modules Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Technavio recognizes the following companies as the key players in the global thermoelectric modules market: Ferrotec, KELK, Laird, and II-VI Marlow

Other Prominent Vendors in the market are: RMT, Tellurex, Thermion, and TE Technology.

Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Growing demand for smart homes and development of smart cities. The smart home concept is gaining ground rapidly as consumers look to improve domestic convenience through electronic devices. This is an evolutionary development in the residential real-estate sector with the primary aim to make a living more comfortable, convenient, secure, entertaining, and sustainable. At present, smart home technologies using advanced sensors are affordable and can be used by any average household to connect appliances such as heating modules, lighting systems, AC units, computers, television sets, entertainment systems, security devices, and camera systems. The home owner can control these devices using their smartphones and tablets.

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According to the report, one of the major drivers for this market is Increased construction activities. Development in the construction industry plays a significant role in boosting the global thermoelectric modules market. New construction in the residential, commercial, and industrial sectors have increased the demand for HVAC systems (that are integrated with thermoelectric modules), which improves building efficiencies, thus generating high revenue for the market. Innovations in building design and increased focus on energy efficiency for buildings have created an opportunity for thermoelectric module manufacturers to increase their market foothold.

Further, the report states that one of the major factors hindering the growth of this market is Capital intensity of HVAC systems. The global thermoelectric modules market is capital intensive. With the decline in the global economy, the thermoelectric modules market vendors face difficulty in investing heavily in R&D activities and marketing campaigns. Also, many end-users are struggling to purchase HVAC equipment as it requires a high initial investment. Many residential users in developing countries are facing a challenge in adopting domestic HVAC equipment such as household furnaces, ACs, and other HVAC equipment.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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