The analysts forecast global thermoelectric modules market to grow at a CAGR of 9.91% during the period 2017-2021. The latest trend gaining momentum in the market is Growing demand for smart homes and development of smart cities.
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The smart home concept is gaining ground rapidly as consumers look to improve domestic convenience through electronic devices.
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This is an evolutionary development in the residential real-estate sector with the primary aim to make a living more comfortable, convenient, secure, entertaining, and sustainable. At present, smart home technologies using advanced sensors are affordable and can be used by any average household to connect appliances such as heating modules, lighting systems, AC units, computers, television sets, entertainment systems, security devices, and camera systems.
The home owner can control these devices using their smartphones and tablets.
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Major key players in the global thermoelectric modules market: Ferrotec, KELK, Laird, and II-VI Marlow, RMT, Tellurex, Thermion, and TE Technology.
According to the thermoelectric modules market report, one of the major drivers for this market is Increased construction activities. Development in the construction industry plays a significant role in boosting the global thermoelectric modules market.
New construction in the residential, commercial, and industrial sectors have increased the demand for HVAC systems (that are integrated with thermoelectric modules), which improves building efficiencies, thus generating high revenue for the market. Innovations in building design and increased focus on energy efficiency for buildings have created an opportunity for thermoelectric module manufacturers to increase their market foothold.
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Further, the thermoelectric modules market report states that one of the major factors hindering the growth of this market is Capital intensity of HVAC systems. The global thermoelectric modules market is capital intensive.
With the decline in the global economy, the thermoelectric modules market vendors face difficulty in investing heavily in R&D activities and marketing campaigns. Also, many end-users are struggling to purchase HVAC equipment as it requires a high initial investment.
Many residential users in developing countries are facing a challenge in adopting domestic HVAC equipment such as household furnaces, ACs, and other HVAC equipment.
Major Points from Table of Contents Provided in Global Thermoelectric Modules Markethermo…ic Modules Market:
1: Executive Summary
2: Scope of The Report
3: Research Methodology
5: Market Landscape
6: Market Sizing
7: Five Forces Analysis
8: Market Segmentation By Application
9: Regional Landscape
10: Decision Framework
11: Drivers and Challenges
12: Market Trends
13: Vendor Landscape
14: Vendor Analysis