blog address: https://www.lucintel.com/thermoelectric-modules-market.aspx
blog details: According to the recent study the thermoelectric modules market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 8% to 10% from 2023 to 2028. Growth in this market is primarily driven by increase demand for consumer electronics, increasing capability to increase vehicle fuel efficiency using thermoelectric modules, and demand for electric and autonomous vehicles.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in thermoelectric modules market by type (bulk thermoelectric modules, micro thermoelectric modules, and thin-film thermoelectric modules), model (single-stage and multi-stage), function (general purpose and deep cooling), offering (hardware, software, and services), end use industry (consumer electronics, industrial, telecommunications, automotive, medical & laboratories, aerospace & defense, and oil & gas and mining) and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Bulk thermoelectric modules market is expected to remain the largest segment during the forecast period.”
Based on type, the thermoelectric modules market is segmented into bulk thermoelectric modules, micro thermoelectric modules, and thin-film thermoelectric modules. Lucintel forecasts that the bulk thermoelectric modules market is expected to remain the largest segment due to high-power output and voltage, it is suitable for wide variety of applications and does not have any design constraints, and is widely used to make related components such as thermoelectric generators (TGEs) and heat pumps.
“Within the thermoelectric modules market, the automotive segment is expected to remain the largest end use industry”
Based on end use industry the automotive segment is expected to witness the highest growth over the forecast period due to because it converts exhaust waste heat into electricity for reduction in fuel consumption, and growing demand for thermoelectric modules in electric and hybrid vehicles.
“North America will dominate the thermoelectric modules market in near future”
North America remains the fastest growing region due to high attention of market players, smooth availability of proficient technical expertise, and increasing demand for high-end compressed consumer electronics in the region.
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Major players of thermoelectric modules market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Laird Thermal Systems, TEC Microsystems GmbH, Thermonamic Electronics Corporation Ltd., KELK Ltd., Fuxin Technology Co. Ltd., TE Technology Inc., Thermion Company, II-VI Marlow, Crystal Ltd., and Ferrotec Corporation. are among the major thermoelectric modules providers.
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keywords: thermoelectric modules market
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