Thermoelectric Cooling Modules Market is segmented by Type (Single Stage, Multi-Stage), Application (Automotive, Consumer Electronics, Aerospace & Defense, Medical & Laboratories, Telecommunications, Oil, Gas & Mining), and Region (North America, Europe, Asia-Pacific, and Rest of the World).
Thermoelectric Cooling Modules Market is segmented by Type (Single Stage, Multi-Stage), Application (Automotive, Consumer Electronics, Aerospace & Defense, Medical & Laboratories, Telecommunications, Oil, Gas & Mining), and Region ...
A thermoelectric cooling module is defined as a semiconductor-based electronic component that functions as a small heat pump. It moves heat from one side to another side of the device. Based on type, it can be categorized as single-stage and multistage.
Thermoelectric Cooling Modules Market Overview
Growth
12.1% CAGR
Major Application Type
Consumer Electronics
Region with the largest share
North America
Key Players
Ferrotec (Japan), Laird (UK), II-VI Marlow (US), TE Technology (US), TEC Microsystems (Germany), Crystal Ltd. (Russia), RMT Ltd. (Russia), KELK Ltd. (Japan), Kryotherm (Russia), Thermion Company (Ukraine), Thermonamic Electronics (China), EVERREDtronics (China), Micropelt (Germany), Hi-Z Technology (US), Hui Mao (China), Hicooltec Electronic (China), Z-Max (Japan), Merit Technology Group (China), LG Innotek (South Korea), Align Sourcing (US), AMS Technologies (Germany).
Market Drivers
The global growth of thermoelectric cooling modules market size is primarily driven by significant growth of the end-use industries including automotive, consumer electronics, and aerospace & defense among others. Increasing product usage in the medical & laboratories and oil & gas industries is likely to propel the market growth at a significant rate during the review period.
In addition to this, the growing demand for advanced thermoelectric cooling modules is likely to create lucrative opportunities for the players operating in the global market in the coming years.
COVID-19 Impact
The outbreak of COVID-19 significantly impacted the materials supply chains, international trade, and manufacturing operations across the world. The production of thermoelectric cooling modules declined amidst the COVID-19 pandemic as the market players had to shut production facilities or operate the facilities below the optimal production capacities to avoid the spread of the coronavirus.
Segments Analysis
Application Trends
“Consumer electronics dominates the market during the forecast period.”
The thermoelectric cooling modules market has been divided into automotive, consumer electronics, aerospace & defense, medical & laboratories, telecommunications, and oil, gas & mining. The consumer electronics application segment accounted for the largest market share in 2020. The segment growth can be attributed to significant demand for consumer electronics worldwide.
Regional Analysis
“North America accounted for the largest share in 2020 and is expected to grow at a significant CAGRduring the review period.”
The regional market growth can be attributed to high product adoption rates in end-use industries and the presence of key market players such as II-VI Marlow (US) and TE Technology (US).
The market growth in the Asia-Pacific region is expected to grow at the fastest CAGR during the review on account of increasing product demand in the end-use industries particularly in automotive and consumer electronics.
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Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the thermoelectric cooling modules market (arranged alphabetically).
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Thermoelectric Cooling Modules Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
Who are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Customization Option
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Company Profiling
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Market Segmentation
Current market segmentation of any one of the mineral types by technique type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
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A thermoelectric cooling module is defined as a semiconductor-based electronic component that functions as a small heat pump. It moves heat from one side to another side of the device. Based on type, it can be categorized as single-stage and multistage.
Asia-Pacific region is expected to grow at the fastest CAGR during the review on account of increasing product demand in the end-use industries particularly in automotive and consumer electronics.
The global growth of thermoelectric cooling modules market size is primarily driven by significant growth of the end-use industries including automotive, consumer electronics, and aerospace & defense among others. Increasing product usage in the medical & laboratories and oil & gas industries is likely to propel the market growth at a significant rate during the review period.
