Thermal energy harvesting is a technology that captures and converts waste heat into electrical power. It finds applications in various sectors, including IoT devices, sensors, and wearable electronics. Key features of thermal energy harvesting include its ability to operate autonomously, reduce the need for battery replacements, and contribute to sustainability. Uses include powering remote sensors, monitoring equipment, and providing a continuous energy source for various low-power electronics, reducing environmental impact while enhancing the reliability and lifespan of these devices.
According to Data Bridge Market Research, the Global Thermal Energy Harvesting Market accounted at USD 478.32 million in 2021 and is expected to reach the value of USD 1,040.33 million by 2029. The market is expected to grow with a CAGR of 10.20% in the forecast period of 2022 to 2029.
“High adoption of remote sensor devices boosts the market’s growth”
The thermal energy harvesting market is experiencing robust growth due to the high adoption of remote sensor devices. These sensors are increasingly utilized in applications such as IoT, industrial automation, and smart building systems. Thermal energy harvesting technology captures waste heat and converts it into electrical power, allowing these sensors to operate autonomously without the need for battery replacements. As demand for energy-efficient and sustainable solutions rises, the market for thermal energy harvesting thrives, offering long-term benefits and reducing the environmental impact of remote sensor devices.
What restraints the growth of the global thermal energy harvesting market?
“High capital requirements restraints the market’s growth”
The growth of the thermal energy harvesting market faces a significant restraint in the form of high capital requirements. Developing and implementing thermal energy harvesting systems demands substantial upfront investments in materials, technology, and infrastructure. These capital requirements can deter potential adopters, particularly smaller businesses and organizations with limited budgets.
Segmentation: Global Thermal Energy Harvesting Market
The global thermal energy harvesting market is segmented on the basis of component, sensor type, application, and end use.
- On the basis Of component, thermal energy harvesting market has been segmented into transducer, power management integrated circuit (PMIC), and secondary battery.
- On the basis of sensor type, thermal energy harvesting market has been segmented into wireless sensor network (WSN), and others.
- On the basis of application, thermal energy harvesting market has been segmented into building and home automation, consumer electronics, industrial, transportation, and security.
- On the basis of end use, thermal energy harvesting market has been segmented into wireless switching system, wireless hvac system, wireless sensing and telematics system, tire pressure monitoring system, asset tracking system, remote health monitoring system, regenerative energy harvesting system.
Regional Insights: Europe will dominate the Global Thermal Energy Harvesting Market
Europe will dominate the thermal energy harvesting market due to presence of numerous environmental regulatory bodies and supportive government policies. These factors encourage industries to adopt sustainable and eco-friendly practices, fostering market expansion in alignment with environmental standards and regulations.
Asia-Pacific is expected to be the fastest-growing regional market over the forecast period due to its affluent population and the increasing tech-savviness among its people. With Asia Pacific offering low operational and labor costs, numerous industry players are contemplating relocating their manufacturing units to the region. These factors collectively drive the expansion of IoT systems, propelling market growth.
Recent Developments
- In May 2021 EnOcean unveiled the PTM 535BZ transmitter module designed for battery-free switch appliances. This module marks a significant milestone as it is the first to offer support for multiple wireless standards operating in the 2.4 GHz radio band.
- In June 2020 AB, the company behind these robots, introduced them as part of a COVID-19 testing system in Singapore, where they played a crucial role in processing as many as 4,000 samples daily. In contrast to other global regions, the North American market exhibits a strong inclination toward industrial IoT adoption, a factor contributing to the increased demand for such technology.
- In July 2019, Samsung submitted a patent application for clothing technology featuring an integrated energy harvesting device capable of extracting power from body heat, as well as both solar heat and light.
- In March 2021, ZF Friedrichshafen AG collaborated with Schneider Electric to unveil innovative smart industrial switches. These switches incorporate a self-powering chipset developed using silicon technology by the energy-harvesting startup Wiliot. This chipset enables the harvesting of energy from unlicensed band spectrums, making it particularly valuable in IT workspaces that act as central hubs for Bluetooth and radio wave communications.
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The Prominent Key Players Operating in the Global Thermal Energy Harvesting Market Include:
- ABB (Switzerland)
- Analog Devices, Inc. (U.S.)
- Texas Instruments Incorporated (U.S.)
- Cymbet Corporation (U.S.)
- EnOcean GmbH (Germany)
- STMicroelectronics N.V. (Switzerland)
- e-peas SA (Belgium)
- Advanced Linear Devices, Inc. (U.S.)
- Piezo.com (U.S.)
- Cypress Semiconductor Corporation (U.S.)
- Powercast Corporation (U.S.)
- Laird Thermal Systems, Inc. (U.S.)
- DCO Systems Ltd (U.K.)
- Honeywell International Inc. (U.S.)
- Drayson Technologies Ltd. (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global thermal energy harvesting market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Thermal Energy Harvesting Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
