Thermoelectric Modules Market Pegged for Robust Expansion by 2031 | Type, Application, Scope & Key Companies | Ferrotec, II-VI Incorporated, KELK

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New York, 2022-Aug-05 — /EPR Network/ — Global Thermoelectric Modules Market report from Global Insight Services is the single authoritative source of intelligence on Thermoelectric Modules Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Thermoelectric modules (TEMs) are devices that can convert heat into electricity and vice versa. TEMs are made up of two types of materials, called n-type and p-type semiconductors. These materials are connected together to form a circuit. When there is a temperature difference between the two materials, electrons flow from the hot side to the cold side. This flow of electrons generates an electric current, which can be used to power electric devices.

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Key Trends

.The automotive industry is one of the major consumers of thermoelectric modules. The automotive industry is shifting its focus from traditional internal combustion engine (ICE) vehicles to electric vehicles (EVs). The growing demand for EVs is expected to drive the growth of the thermoelectric modules market during the forecast period.

Consumer electronics was the second-largest application segment of the global thermoelectric modules market. The rising popularity of wearable devices and the increasing adoption of smartphones and tablets are expected to drive the growth of the thermoelectric modules market in the consumer electronics application segment during the forecast period.

Key Drivers

The key drivers of the thermoelectric modules market are rising demand for energy-efficient cooling and heating solutions, growing adoption of fuel cells, and increasing use of waste heat recovery systems.

The rising demand for energy-efficient cooling and heating solutions is a major driver of the thermoelectric modules market. TEMs offer a more efficient and environmentally-friendly alternative to conventional cooling and heating methods, such as refrigeration and air conditioning. This is due to the fact that TEMs do not use any moving parts or chemicals, and they can be powered by renewable energy sources.

Market Segmentation

By Device Type:

  • AR HMDs
  • VR HMDs

 By Display Technology:

  • LCD
  • OLED

By Application:

  • Consumer
  • Commercial
  • Enterprise

By Region

  • North America
    • The U.S.

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Key Players

  • Ferrotec
  • II-VI Incorporated
  • KELK
  • Laird Thermal Systems
  • Guangdong Fuxin Technology
  • TE Technology
  • Phononic

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