DUBLIN–(BUSINESS WIRE)–The “Global Thermoelectric Modules Market By Offering, By Type, By Model, By Functionality, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Thermoelectric Modules Market size is expected to reach $866 Million by 2027, rising at a market growth of 7.3% CAGR.
Some of the other names of thermoelectric modules are Peltier cooler or thermoelectric cooler. It is a semiconductor-based electronic element. The thermoelectric module acts as a small heat pump that circulates heat from one side to another side of the device. In thermoelectric modules, heat pumps are attached in them that can obtain water from the air through the structured circuit engineering in the device works on the principle of the Peltier Effect. Thermoelectric modules are mostly used to produce electricity with the help of temperature variance between the two sides of the module.
The main applications of thermoelectric modules include heat pumping, power generation, and temperature stabilization. While in notable applications, thermoelectric modules are installed to give variant temperatures, includes a switch in opposition to modify from warming to cooling. This process is used to attain a rapid cyclic temperature called thermal cycling. In addition to it, these cyclic thermoelectric modules are also used to reduce the surface area primarily affected by the expansion and contraction of the ceramic substrates.
Semiconductor industries are growing very rapidly across the world. It is due to the rising adoption of semiconductors in several other sectors including automobiles and electronics. The demand for thermoelectric modules is also likely to grow during the forecast period.
For example, the present rank of IBD’s Electronics-Semiconductor Manufacturing group is 36 in total 197 industry groups, according to Investor’s Business Daily. The group comprises 32 semiconductor companies. Thermoelectric generators are solid-state semiconductor devices that convert heat flow and several; temperature differences into useful DC sources of power.
Impact of COVID-19
The outbreak of the COVID-19 pandemic, which is considered as a fatal respiratory disease has also affected the thermoelectric modules market. The COVID-19 pandemic is expected to ensure variant degree of impact on different types of thermoelectric modules. So, the COVID-19 pandemic has adversely impacted the thermoelectric coolers market.
It is mainly due to the dip in aerospace, industrial, and automotive applications. Consumer electronics have witnessed a decline in revenue initially but are likely to recover from 2021 onward. Telecommunications and medical segments also experienced a slight decline due to complete lockdown since remote communications, medicine/vaccine storage and transport and pharmaceutical research have assumed the place of crucial activities during the pandemic.
Scope of the Study
Market Segments covered in the Report:
By Offering
Hardware Services By Type
Bulk Micro Thin-Film By Model
Single Stage Multi Stage By Functionality
General Purpose Deep Cooling By End User
Consumer Electronics Automotive Industrial Medical & Laboratories Manufacturing Telecommunications Others By Geography
North America US Canada Mexico Rest of North America Europe Germany UK France Russia Spain Italy Rest of Europe Asia Pacific China Japan India South Korea Singapore Malaysia Rest of Asia Pacific LAMEA Brazil Argentina UAE Saudi Arabia South Africa Nigeria Rest of LAMEA Companies Profiled
Ferrotec Holdings Corporation II-VI, Incorporated Vishay Precision Group, Inc. Phononic, Inc. Z-Max Co., Ltd. Thermion, Inc. Kryotherm TEC Microsystems GmbH TE Technology, Inc. Laird Thermal Systems, Inc. Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Global Thermoelectric Modules Market by Offering
Chapter 4. Global Thermoelectric Modules Market by Type
Chapter 5. Global Thermoelectric Modules Market by Model
Chapter 6. Global Thermoelectric Modules Market by Functionality
Chapter 7. Global Thermoelectric Modules Market by End User
Chapter 8. Global Thermoelectric Modules Market by Region
Chapter 9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/jqosfx