Lucintel's latest market report analyzed that thermoelectric modules provides attractive opportunities in the consumer electronics, industrial, telecommunications, automotive, medical & laboratories, aerospace & defense, and oil & gas and mining industries. The thermoelectric modules market is expected to reach $XX billion by 2028 with a CAGR of 8% to 10%. In this market, bulk thermoelectric modules is the largest segment by type, whereas automotive is largest by end use industry. Development of TEMs for new application areas and demand for portable refrigerators provides strategic growth path in this market.
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Based on type, the thermoelectric modules market is segmented into bulk thermoelectric modules, micro thermoelectric modules, and thin-film thermoelectric modules. The bulk thermoelectric modules segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to high-power output and voltage, it is suitable for wide variety of applications and does not have any design constraints, and is widely used to make related components such as thermoelectric generators (TGEs) and heat pumps.
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The Thermoelectric Modules Market is marked by the presence of several big and small players. Some of the prominent players offering thermoelectric modules include Laird Thermal Systems, TEC Microsystems GmbH, Thermonamic Electronics Corporation Ltd., KELK Ltd., Fuxin Technology Co. Ltd., TE Technology Inc., Thermion Company, II-VI Marlow, Crystal Ltd., and Ferrotec Corporation..
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