Market For Thermoelectric Modules Heating Up

According to Transparency Market Research, the global thermoelectric modules market is predicted to grow at a CAGR of 9.5% during the forecast period from 2015 to 2023. They say the market had registered revenue worth $364.1 Million in 2014, which is further expected to increase up to $829.5 Million by the end of 2023. Geography-wise, the global thermoelectric modules market is spread across Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Of these, Asia Pacific came out as a winning segment and contributed to revenue worth $120 Million. Growth is expected to continue in future, as several renowned companies are getting established in the market. North America too is expected to witness a spectacular growth in this market with rapid industrialization and urbanization happening this region.


Reports Highlights

Free Newsletter

Like this article? Subscribe to FierceSensors!

The sensors industry is constantly changing as innovation runs the market’s trends. FierceSensors subscribers rely on our suite of newsletters as their must-read source for the latest news, developments and analysis impacting their world. Register today to get sensors news and updates delivered right to your inbox.
  • Presence of Numerous Advantages Makes Companies Prefer Thermoelectric Modules
  • High Costs of Modules Dampens Growth Mainly in Developing Regions
  • Thanks to the various advantages offered by thermoelectric modules over other conventionally-used cooling systems, the former type of technology is being used on a large-scale basis, thereby driving the associated market's growth.
  • With the number of players entering the market expected to increase steadily, the competition is anticipated to highly intensify soon.

For more info, request a sample of the report.


Transparency Market Research

Albany NY



[email protected]

Suggested Articles

IP theft and technology transfer are key components of eight-part deal

According to a Gartner report, global semiconductor revenue totaled $418.3 billion in 2019, down 11.9% from 2018.

3D printed prosthetic arm has Arm M4 processor inside on board built by Particle