Thermoelectric Coolers Market Size, Share, Competitive Landscape and Trend Analysis Report by Model, Design and End-User Industry 2030
WILMINGTON, DELAWARE, UNITED STATES, June 3, 2024 /EINPresswire.com/ — Drivind Demands:
Growth of electric and luxury vehicles is one of the most important driving factors for the thermoelectric coolers market growth. Electric and luxurious cars have air conditioners and automobile mini refrigerators installed in them that have thermoelectric coolers in them. In addition, stability and low vibrations of thermoelectric coolers allows installation of thermoelectric coolers in several products. This, in turn, drives the thermoelectric coolers market.
The thermoelectric coolers market size was valued at $0.6 billion in 2020, and is expected to reach $1.3 billion by 2030, registering a CAGR of 8.7% from 2021 to 2030. Thermoelectric cooling is based on the Peltier effect. The effect creates a temperature difference by transferring heat between two electrical junctions. These thermoelectric coolers are manufactured in standard designs or specially designed as per requirement of customers.
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Impacting Factors:
Coefficient of performance of thermoelectric coolers is very low and to match the output given by traditional heating and cooling systems, a very high-powered thermoelectric cooler has to be used, which increases cost of thermoelectric coolers.
On the contrary, focus on R&D and advanced manufacturing of thermoelectric coolers is anticipated to open new avenues for the thermoelectric coolers market during the forecast period.
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Key Segments:
By Model
Single Stage
Multi Stage
By Design
Special Design
Standard Design
By END-USER INDUSTRY
Consumer Electronics
Telecommunications
Automotive
Others
Top Players:
Crystal Ltd., Ferrotec Corporation, II-VI Incorporated, Kryotherm Industries, Merit Technology Group, TE Technology, Inc., Thermion Company, Thermonamic Electronics (Jiangxi) Corp., Ltd., Xiamen Hicool Electronics Co.,Ltd. and Z-MAX Co. Ltd.
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