Thermoelectric Energy Harvesting Market to Reach USD 950 Mln by 2024, Says IDTechEx in Its New Report Published at MarketPublishers.com27 Apr 2016 • by Natalie Aster
LONDON – The market for thermoelectric energy harvesters is forecast to expand from over USD 40 million as of 2014 to be valued at USD 950 million by 2024.
Though thermoelectric effects have been broadly exploited for cooling and heating purposes, power generation has only witnessed very limited market in niche applications, and it is only recently that there has been an upsurge in interest pertaining to novel application areas for power generation via thermoelectric energy harvesting.
The novel applications are diverse and the vertical industries reaping benefits from novel devices range from condition monitoring (CM) in industrial surroundings, smart and advanced metering in energy market sectors, to applications in automotive settings.
An extensive number of car manufacturing firms, including Volvo, Volkswagen, BMW and Ford in cooperation with NASA have been devising thermoelectric waste-heat recovery (WHR) systems, each achieving various kinds of performance but all of them likely to result in improvements in economy of fuel whilst the power derived from these devices could possibly reach as much as 1200W.
New market research report “Thermoelectric Energy Harvesting 2016-2026” drawn up by IDTechEx is devoted to canvassing the thermoelectric energy harvesting sector. The study offers an in-depth overview of the devices, materials and production processes, especially focusing on an analysis of the emerging technologies that arrange for new form factor, functionality and application in a variety of demanding conditions. The report incorporates are detailed interviews with prospective adopters of thermoelectric energy harvesters and their insight into the influence the technology is likely to exert over their pertinent industry sectors. Furthermore, granular forecasts of the market’s development over the next decade are at hand in the report.
More new studies by the publisher can be found at IDTechEx page.