Global Thermoelectric Assemblies Market: Introduction
Transparency Market Research delivers key insights on the
global thermoelectric assemblies market. In terms of
revenue, the global thermoelectric assemblies market is estimated to expand at
a ~ CAGR of ~ 8% during the forecast period, owing to numerous
factors, regarding which, TMR offers thorough insights and forecasts in its
report on the global thermoelectric assemblies market.
Thermoelectric assemblies (TEAs) are used to control
temperatures in several industries such as aerospace & defense, automotive,
consumer electronics, healthcare, food & beverages, and telecom.
Thermoelectric assemblies serve a cooling capacity spectrum ranging from
around 10 to 400 watts. They can perform cooling by removal of heat
from control sources by means of conduction and convection. Thermoelectric
assemblies are of different types, such as air-to-air, direct–to-air,
liquid–to-air, and liquid-to-liquid. Out of these, direct-to-air thermoelectric
assemblies are most widely used, and they are more compact in design.
Applications of thermoelectric assemblies include cooling of laser diode
packages in optics, lasers in medical and industrial instrumentation, and
bio-sample storage units for medical diagnostics. TEAs (thermoelectric
assemblies) are also used in the cooling of analytical instruments and
batteries in automotive and telecom applications.
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In this report, TMR proposes that, the global thermoelectric
assemblies market is estimated to witness the increasing usage of
thermoelectric-based devices in the near future. Increasing interest in green
energy across numerous geographies and application of TEAs in the food &
beverages industry are key factors driving the demand for thermoelectric
assemblies across the globe. High competitive advantages of thermoelectric
assemblies over other compressor-based systems are expected to drive the global
thermoelectric assemblies market from 2019 to 2027. Europe is expected to be a
rapidly expanding market in the global thermoelectric assemblies market during
the forecast period. Manufacturers are trying to reduce costs related to
components used in modern thermoelectric assemblies. They are designing
advanced portable thermoelectric coolers for use in food and beverage
applications. In addition to this, the usage of thermoelectric energy
harvesting has grown in various sectors such as automotive, aerospace &
defence, and wireless sensor networks, which tends to further drive the global
thermoelectric assemblies market.
However, the higher costs of TEAs as compared to
conventional cooling and refrigeration systems are likely to adversely impact
the global thermoelectric assemblies market in the near future. These high
costs are attributable to the added cost of other components of thermoelectric
assemblies. The cost of thermoelectric assemblies is higher in North America
and Europe than in Asia Pacific. This is primarily due to high overhead and
labor costs in these two regions. Unfavourable results led by these factors are
expected to hamper the global thermoelectric assemblies market during the
forecast period.
Global Thermoelectric Assemblies Market: Prominent
Regions
The market for thermoelectric assemblies in Europe is
expected to expand in the near future, primarily due to rising adoption and
production of new and advanced thermoelectric assemblies in the region. Europe
is estimated to present prominent growth to the thermoelectric assemblies
market during the forecast period, owing to advanced thermoelectric assemblies
offered by manufacturers in the region. Investments are being carried out in
R&D, new product development, and technological advancements in
thermoelectric assemblies. Companies are introducing advanced products with
extremely high accuracy and factory calibration. In September 2018, Radian
Thermal Products, Inc. proclaimed to have launched a thermoelectric product
line to achieve heat dissipation and precise temperature control for medical
and industrial sectors. Various medical and industrial systems need precise
temperature regulation and high heat dissipation, which can be successfully
attained by using thermoelectric assemblies. These typical TEA systems consist
of a thermoelectric module and two heat sinks with fans or a cold plate.
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Key manufacturers operating in the global thermoelectric
assemblies market are sharpening their competitive edges to display synergies
through close cooperation and collaborations in the areas of sales, marketing,
and production. Manufacturers of thermoelectric assemblies are also expanding
through organic methods, such as increasing production capacity, so as to meet
the rising demand.
Global Thermoelectric Assemblies Market: Key Players
Key players operating in the global thermoelectric
assemblies market are ABB Ltd., Badger Meter, Inc., Emerson Electric Co.,
Endress+Hauser AG, General Electric Co., Honeywell International Inc., KROHNE
Messtechnik GmbH, McCrometer, Inc., Omega Engineering Inc., Siemens AG, Toshiba
Corporation, and Yokogawa Electric Corp.
Global Thermoelectric Assemblies Market by Type
- Air
to Air
- Direct
to Air
- Liquid
to Air
- Liquid
to Liquid
Global Thermoelectric Assemblies Market by End User
- Aerospace
and Defense
- Automotive
- Consumer
Electronics
- Healthcare
- Food
and Beverages
- Telecom
- Others
(BFSI, Photonics, etc.)
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