Thermoelectric Modules Market Growth 2022 Along with Business Insights and Forecast to 2027


The Thermoelectric Modules Market is anticipated to increase from USD 593 million in 2021 to USD 872 million by 2026, growing at a CAGR of 8.0% throughout that time. TEMs have a number of benefits over traditional systems. The size, maintenance requirements, vibration and noise levels, and temperature management of TEMs are all better than those of vapor-compression cooling systems. TEMs have been well embraced for use in the automotive industry. These modules are currently being used more frequently to regulate the temperature of the automobile seats in vehicles with heated/cooled seats. Opportunities for the implementation of TEMs grow as the telecom sector moves toward embracing cutting-edge communication technologies like 5G and associated wireless protocols. High thermal precision, extremely compact package size, and low power dissipation tolerance are required of TEMs for telecommunications equipment.

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The market for thermoelectric modules is competitive and fairly fragmented, notwithstanding its modest growth. New product releases and deals are two major tactics used by leading players to expand their presence in the market, grow their market share, and improve their product portfolios. The Hi-Temp ETX Series thermoelectric coolers, for instance, were introduced by Laird Thermal Systems (US) in August 2020 to provide active cooling in high-temperature situations for autonomous systems, machine vision, digital light processors, and optical transceivers. A new variety of ultra-compact, multistage thermoelectric coolers with 8 times reduced volume dimensions was introduced by TEC Microsystems (Germany) in May 2016. A maker of micro-thermoelectric modules, RMT (Russia), was acquired by Ferrotec (US) in October 2020. The inclusion of micro-thermoelectric modules from RMT will aid the business in expanding and strengthening its current product offering.

A subsidiary of Ferrotec Holdings Corporation (Japan), which is traded openly on the JASDAQ, is Ferrotec (US) (6890). The business develops, produces, and provides assembly solutions for precision processes. Semiconductor and Other Equipment Related, Electronic Device, and Others make up its three business segments. The segment for electronic devices includes thermoelectric modules. Thermoelectric modules are produced by Ferrotec in a wide variety of shapes, sizes, and Imax values. These thermoelectric modules are utilised in a range of applications, including optical communications, biotechnology, cooling chillers, air conditioners, and climate control seats for automobiles. RMT (Russia), a producer of micro-thermoelectric modules used in a number of applications, was purchased by Ferrotec.

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The US, Canada, Mexico, Israel, Singapore, Thailand, India, the Philippines, Vietnam, Australia, and Malaysia are just a few of the nations where Ferrotec conducts business. Additionally, the business serves a number of nations in South America, Africa, and Europe. Some of its significant affiliates outside of the Americas include Silram, LTD. (Israel), Ferrotec Europe GmbH (Germany), and Ferrotec Corporation Singapore Pte. Ltd (Singapore).

Thermoelectric modules, assemblies, liquid cooling systems, temperature controllers, and custom solutions are among the thermal management solutions that Laird Thermal Systems (US) creates, develops, and produces. Advent International (US), a corporation that specialises in international buyouts, growth, and strategic restructuring, bought the business in December 2018. Advent International owns and operates the independent company in its whole. It provides a wide selection of thermoelectric coolers with a variety of cooling rates, temperature differentials, form factors, finishing options, and thermal cycle capacities. The company provides major thermoelectric module equipment manufacturers with services for the consumer, industrial, telecom, medical, analytical, and industrial markets. Laird Thermal Systems operates sites in a number of countries, including the US, Sweden, China, Germany, the Czech Republic, and Sweden. Laird Thermal Systems GmbH-Rosenheim, Germany; Laird Thermal Systems-Liberec, Czech Republic; Laird Thermal Systems-Gothenburg, Sweden; and Laird Thermal Systems-Shenzhen, China are a few of the company's subsidiaries.

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