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Semiconductor and Electronics Thermoelectric Modules Market

The thermoelectric modules market is projected to grow at a CAGR 7.29% rate during the forecast period. Benefits of thermoelectric modules over conventional systems, simultaneous heating & cooling of thermoelectric modules catering to the demand in several applications, growth of electric vehicle market and focus of governments as well as product & service providers on using renewable energy sources is expected to drive the thermoelectric modules industry growth.Consumer electronics to hold the largest market share of thermoelectric modules market. Thermoelectric modules are used widely in the consumer electronics application, including portable food/beverage containers, chilled water dispensers, beer/wine cabinets, small refrigerators, air conditioners, and others. These applications require thermoelectric modules to provide cooling and temperature control as traditional cooling systems are not feasible.


Bulk thermoelectric modules expected to be the largest shareholder of thermoelectric modules in coming years. Bulk thermoelectric modules held the largest market share of the thermoelectric modules market in 2021 owing to their benefits, such as the highest power output and voltage compared with micro and thin-film thermoelectric modules. Moreover, these modules are the most commonly used types of thermoelectric modules for various end-use applications such as telecommunications, medical & laboratories, aerospace & defense, consumer electronics, and industrial.


Asia Pacific accounted for the largest share of the thermoelectric modules market in 2021. It is the fastest-developing region for most of the applications such as automotive, consumer electronics, oil, gas & mining, and industrial. The market in APAC has been segmented into China, Japan, South Korea, and the Rest of APAC. The region has emerged as a global focal point for significant investments and business expansion opportunities. The increasing demand for waste heat recovery, consumer goods, industrial automation, and healthcare monitoring devices is expected to drive this market in the region.


Key Market Players includes Ferrotec (USA) Corporation (Ferrotec, US), Laird Thermal Systems (LAIRD, UK), II-VI Marlow (Marlow, US), TE Technology, Inc. (TE Technology, US), TEC Microsystems GmbH (TEC Microsystems, Germany), Crystal Ltd (Crystal, Russia), Kryotherm (Kryotherm, Russia), RMT Ltd. (RMT, Russia), Thermion Company (Thermion Company, Ukraine), Thermonamic Electronics (Jiangxi) Corp., Ltd. (Thermonamic Electronics, China), KELK Ltd (KELK, Japan), and Guangdong Fuxin Technology Co., Ltd. (Fuxin Technology, China).


Key Questions Addressed by the Report

  • Where will all these developments take the industry in the mid to long term?
  • What are emerging application areas that are expected to adopt thermoelectric modules?
  • Which end-use application of in the market is growing at the highest rate?
  • Which type of thermoelectric module is expected to penetrate significantly during the forecast period?
  • What type of model is the most opportunistic for thermoelectric modules manufacturers in the coming years?


  1. Introduction
  2. Market Definition
  3. Study Scope
  4. Study Period
  5. Market Stakeholders
  6. Research Methodology
  7. Secondary Research
  8. Primary Research
  9. Research Design
  10. Data Validation
  11. Limitations and Assumptions
  12. Market Dynamics
  13. Drivers
  14. Benefits of Thermoelectric Modules Over Conventional Systems
  15. Simultaneous Heating and Cooling of Thermoelectric Modules Driving Demand for Several Applications
  16. Growth of Electric Vehicle Market Increasing Demand for Thermoelectric Modules
  17. Focus of Governments as Well as Product and Service Providers on Using Renewable Energy Sources
  18. Challenges
  19. Design Complexities Associated With Thermoelectric Modules
  20. High Costs Compared With Traditional Systems
  21. Managing Heat Dissipation in Computing and Networking Devices
  22. Opportunities
  23. Development of Thermoelectric Modules for New Application Arena
  24. Concept of Turning Body Heat Into Electricity
  25. Executive Summary
  26. Thermoelectric Modules Market, By Model
  27. Single Stage
  28. Multi Stage
  29. Thermoelectric Modules Market, By Type
  30. Bulk thermoelectric modules
  31. Micro thermoelectric modules
  32. Thin-film thermoelectric modules
  33. Thermoelectric Modules Market, By Functionality
  34. Deep-cooling modules
  35. General-purpose modules
  36. Thermoelectric Modules Market, By End-Use Application
  37. Consumer electronics
  38. Telecommunications
  39. Automotive
  40. Industrial
  41. Medical and laboratories
  42. Aerospace and defense
  43. Oil, gas and mining
  44. Thermoelectric Modules Market, By Offering
  45. Hardware
  46. Software and services
  47. Thermoelectric Modules Market, By Region
  48. North America
  49. US
  50. Canada
  51. Europe
  52. UK
  53. Germany
  54. France
  55. Italy
  56. Rest of Europe
  57. Asia Pacific
  58. Japan
  59. China
  60. South Korea
  61. Rest of APAC
  62. Rest of the World
  63. South America
  64. Middle East
  65. Africa
  66. Company Profiles
  67. Leading Companies in Thermoelectric Modules Market
  68. Ferrotec
  69. Laird
  70. II-VI Marlow
  71. TE Technology
  72. TEC Microsystems
  73. Crystal Ltd.
  74. Kryotherm
  75. RMT Ltd.
  76. Thermion Company
  77. Thermonamic Electronics
  78. Other Companies in Thermoelectric Modules Market


*Company introduction, financial information, recent developments, SWOT analysis



  1. Conclusion and Recommendations
  2. Appendix
  3. About
  4. Related Reports
  5. Glossary



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