Energy Harvesting Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Energy Harvesting Market grew at a CAGR of 8.9% between 2017-2021 and is estimated to be US$ 567.4Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 10.5% and is expected to reach a valuation of US$ 1,540.0Mn by 2032 end.
Population growth has raised the demand for energy use. Technological improvements in sensor-based energy harvesting systems and energy-efficient harvesting components also fuel the development of the global market. In addition, there is a direct or indirect loss of energy that is present in the environment.
As a result, the ability of these systems to catch this energy and transform it into electrical power might also be a growth driver for the global market for energy harvesting systems. The point that has been harvested can also be used in low-energy electrical devices like sensors, watches, and other home appliances. Collectively, these factors raise the demand for energy harvesting systems, which fuels the expansion of the global energy harvesting system market.
ChemView Consulting has analyzed that the rise of the Internet of Things (IoT) has increased demand for wireless equipment that runs on its power and requires no maintenance. The foundational technology for creating IoT systems is the wireless sensor network (WSN). Automation applications, including lighting controls, building management systems, security, access, and fire and life safety, are made possible by IoT. It’s conceivable that millions of devices will be permanently connected over the next few years via IoT. Due to this, there is a huge requirement for data collecting and processing, which demands a lot of automation
The energy harvesting transducers segment dominated the global market by component and is projected to expand at a CAGR of 8.1% throughout the forecast period. The primary factor fueling the demand of the worldwide market is the increase in the use of electromechanical transducers for harvesting vibration energy.
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Segments Covered in Report
By Technology:
- Lights
- Vibration
- Radio Frequency
- Thermal
By Component:
- Energy Harvesting Transducer
- Power Management Integrated Circuits (PMIC)
- Storage System
By Application:
- Consumer Technology
- Building & Home Automation
- Industrial
- Transportation
- Security
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Energy Harvesting Market
- Based on the component, the energy harvesting transducers segment dominated the global market by component and is projected to expand at a CAGR of 8.1% throughout the forecast period. The primary factor fueling the demand of the worldwide market is the increase in the use of electromechanical transducers for harvesting vibration energy.
- Based on the application, the Building & Home Automation category, which generated the most revenue, is expected to expand at a CAGR of 9.0% throughout the projection period. Because there is no need for hardwiring, installing an energy harvesting system in a building or automating your home has benefits like distribution flexibility. As no battery disposal is required, installing these energy harvesting switches reduces maintenance and environmental effect.
- Based on the region, the market in North America has the largest market share (30.8%) and the highest growth rate, and it is anticipated that it will continue to hold that position during the projected period. In North America, green energy is used more in commercial, residential, and consumer settings.
Competition Summary
Key companies covered in the market study are ABB, Schneider Electric, Bionic Power, Inc., STMicroelectronics, Cymbet, EnOcean GmbH, Powercast Corp., Mahle GmbH, Analog Devices, Inc., Texas Instruments, Inc
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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