Machines
and vehicles can generate surprisingly high amounts of heat that
escapes into the air, resulting in the wastage of energy. In fact, in
the United States alone, about 50% of all of the country’s energy
is wasted in the form of heat dissipating into air. Thermoelectric
devices can transform heat to power (by converting temperature
differences to electrical energy) – an attribute that makes them
suited for applications where heat is produced by a device as a
byproduct and ends up dissipating into the air.
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The
power produced by thermoelectric devices can be ploughed back into
the same application or stored for use in the future. Thermoelectric
devices are also referred to as energy harvesting devices. It is thus
evident that as awareness spreads about harnessing thermal energy
produced from electronics, vehicles, and heavy machinery, the global
thermoelectric devices market will gather momentum.
The
thermoelectric devices market features companies such as Gentherm,
KELK Ltd., Evident Thermoelectrics, II-VI Marlow, Inc., Romny
Scientific, Inc., Perpetua Power Source Technologies, Inc., and
others.
Compact
Form Factor and Seamless Integration Dictate Thermoelectric Devices
Players
in the global thermoelectric devices market increasingly find
themselves modifying their products to suit the fast evolving needs
of consumers across industry verticals. Major application areas of
thermoelectric devices are healthcare, WSN, consumer goods, military
and aerospace, and industrial machinery.
Considerable
time and resources are being invested in thermoelectric device
innovations expanding the current application base markedly. For
instance, a recent project at the Delft University of Technology has
used coupled quantum dots for energy harvesting. More such projects
will aid the expansion of the global thermoelectric devices market by
adding to the existing functionalities of such devices. Besides form
factor, other physical attributes of thermoelectric devices, such as
their stretchability and flexibility are becoming integral too.
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Automotive
Sector Takes Lead in Thermoelectric Devices
The
automotive sector represents a massive opportunity for players in the
thermoelectric devices market. Vehicles generate large amounts of
power that can be harvested using thermoelectric devices. Companies
such as Volvo, Ford, Volkswagen, and BMW have been early movers in
this area, having collaborated with NASA to develop heat recovery and
harvesting systems that can be deployed in vehicles. These systems
are being separately developed by each major player and will likely
be seen in their on-road models soon. While the specifics of these
systems are not yet known, these auto majors have stated that they
expect an improvement of at least three percent in the fuel economy
of vehicles with the use of a thermoelectric device.
Besides
the automotive sector, electronics are known to generate considerable
amounts of energy as a byproduct of their operation. Servers, for
instance, generate a great amount of heat that can be harvested and
re-used in other applications. Besides affording economy, such
systems will also help reduce carbon emissions.
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2015
estimates show that worldwide, there are at least 300 laboratories
engaged in R&D pertaining to thermoelectric devices. Countries
such as China, Korea, and the United States enjoy a leading position
in the global thermoelectric devices market. It is thus expected that
the market for thermoelectric devices will largely be concentrated in
these national markets.
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