THERMOELECTRIC MODULES MARKET ANALYSIS

Thermoelectric Modules MarketSize and Trends

The global thermoelectric modules market is estimated to account for US$ 1,217 Mn in terms of value by the end of 2030.

Figure 1. Global Thermoelectric Modules Market (%), By Region

Global Thermoelectric Modules Market Trends:

Use of oxide thermoelectric materials is preferred in the market for high temperature applications due to its superior thermal stability

The most commonly used material for the manufacturing of thermoelectric coolers is bismuth telluride (Be2Te3). This is because of its relatively high figure of merit. However, the performance track record of this material is still relatively poor and better-performing materials are currently used in the manufacturing of thermoelectric modules. The alternatives to Be2Te¬3¬¬ include antimony telluride (Sb2Te3), lead telluride (PbTe), and silicon–germanium. Some of these materials perform exceptionally well in high-temperature applications. For instance, oxide thermoelectric materials are preferred in high-temperature applications due to their superior thermal stability.

Customized manufacturing solutions are being adapted by key players

There are a number of standard thermoelectric modules available in the market. Since manufacturers are aware of the fact that standard products would not always meet their customers’ requirements, hence customized solutions would yield a more optimal thermal solutions. Furthermore, a flexible manufacturing process adopted by key players help them provide better thermoelectric products in the near future.