The Asia Pacific Thermoelectric Modules Market would witness market growth of 7.4% CAGR during the forecast period (2021-2027). Thermoelectric modules are also known as thermoelectric coolers or Peltier coolers.
This electronic device is considered as a semiconductor that functions as a small heat pump and heat is transferred from one side of the device to the other. Thermoelectric modules are capable of cooling or heating an object rapidly by generating temperature differentials. This device comprises semiconductor elements that are doped with electric carriers. These elements are organized into arrays where they are thermally connected in parallel and electrically connected in series.
Huge thermoelectric systems have been established for special applications like cooling within submarines, railroad cars, and semiconductor manufacturing. In recent years, the preference for bigger thermoelectric systems has been increased in the market. The overall cost of a whole thermoelectric system that is used for temperature cooling, control, and power generation is quite less. It is because of the presence of less costly power supplies and the greater performance of thermoelectric systems. Thermoelectric systems with a capacity range of 200-400 Watt are commonly used in several industries.
Asia Pacific has become as a global focal point for investments and business expansion opportunities. The region characterizes the fastest-growing global market for thermoelectric modules. Thermoelectric modules are used increasingly in different industries like a laboratory, automotive, consumer electronics, medical, semiconductor, and defense. As the demand for waste heat recovery, industrial automation, consumer goods, and healthcare monitoring devices is very high in this region, so it is expected to boost the market in this region. Asia Pacific has a large consumer electronics industry include countries like Japan, China, and South Korea, and it is the largest manufacturer as well as end-user of consumer devices. South Korea is a key country that manufactures portable consumer devices whereas the largest exporter of consumer refrigeration devices in China.
The China market dominated the Asia Pacific Multi Stage Thermoelectric Modules Market by Country 2020, thereby, achieving a market value of $27.3 million by 2027. The Japan market is showcasing a CAGR of 8.6% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 9.9% during (2021 - 2027).
Based on Offering, the market is segmented into Hardware and Services. Based on Type, the market is segmented into Bulk, Micro and Thin-Film. Based on Model, the market is segmented into Single Stage and Multi Stage. Based on Functionality, the market is segmented into General Purpose and Deep Cooling. Based on End User, the market is segmented into Consumer Electronics, Automotive, Industrial, Medical & Laboratories, Manufacturing, Telecommunications and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Thermoelectric Modules Market is Projected to reach USD 866 Million by 2027, at a CAGR of 7.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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., and Laird Thermal Systems, Inc.
By Offering
By Type
By Model
By Functionality
By End User
By Country
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