Energy Harvesting Market

2021-2030 Analysis and Review Energy Harvesting Market

Energy Harvesting Market

Energy Harvesting Market By Source, By System, By Application - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

09-03-2022 REP-HC-139338 115 pages Format

The global energy harvesting market is anticipated to grow with a CAGR of by 21.9% during the forecast period of 2022-2030. Energy harvesting is the process in which, naturally occurring energy sources are used and stored in the form of energy. Piezoelectric material & the thermoelectric material is the mostly used technologies for energy harvesting. There are various benefits of energy harvesting solutions. But some are more evident than others, the applications of energy harvesting can help to achieve the global energy demand, by using the otherwise lost energy, this application have major impact on environment and financial performance of household & companies. Hence the energy harvesting technologies are majorly used technology to improve the efficacy of the offices & household devices. 

Energy Harvesting Market

Technology Innovation remains as the Key Market Driver

The extensive application of IOT across applications such as consumer electronic, building automation and growing demand for energy saving and reducing the energy losses that result in the high demand for the energy harvesting devices. The market is growing with good pace due to growing regulatory support by the government across the regional borders and increasing research and development expenditure for the development of the new technologies such as ‘battery free energy harvesting Bluetooth low energy switch module’ in the energy harvesting devices which is pushing the growth in the global energy harvesting market. Below table explains the trend and the growth of energy harvesting by regions around the world. 

Photovoltaic Sensors Dominated the Market

Globally, most of the energy harvesting devices contain various types of the sensors such as electrodynamics, thermoelectric, and piezoelectric and many others. All such sensors allow and enhance the effectiveness of the energy harvesting devices. The photovoltaic sensors hold the largest market share of 50% in 2021. The benefits of the sensors and technology is the major factor which is increasing its application in consumer electronics, building and automation, defense and security and many other applications. Photovoltaic sensors are the dominating sensors which has found its application in solar application, and holds around 50% share in the global energy harvesting system market in 2015. Moreover, the piezoelectric sensors are the fastest growing system of the energy harvesting which are growing with a CAGR of 27.8% during the forecasted period 2022-2030. 

Europe Takes the Lion’s Share, APAC to Promise Opportunities During Forecast Period

Europe market is the clear leader in the global energy harvesting market.  The Europe holds around 41% in revenue share in the global energy harvesting market in 2021. The Europe energy harvesting market is expected to reach to $1641 by the end of 2022 which is up from $433 million in 2015. European Union is trying to achieve its energy and climate targets set at 2020 and 2030. Achieving the targets would mean EU to decarbonize its existing energy and creating an efficient energy supply. Asia Pacific is expected to be the fastest growing market with the highest CAGR of 23.7% during the forecast period. APAC energy harvesting market is majorly driven by the huge demand for the renewable energy and rising concerns for the energy saving with in the region. India and China is the major growth driver in the global market. The growth in all such countries is majorly driven by the increasing demand for the energy harvesting in the consumer electronic and building and automation sector.    

Product Development Remains as the Key Strategy

Competitive rivalry is very high in the energy harvesting market. The major reason for the growing competitive rivalry is the rising adoption of energy harvesting technology globally, due to its effectiveness and decreased cost. The companies are working on product launches for making advanced products and effective in cost as compared to other major players. The major players such as Siemens, Schneider electric, Honeywell etc., are focusing on the product developments that make their product competitive in the global market. The battery replacement is the major benefits given by the use of energy harvesting technology. This plays the major role in Competitive Rivalry. Since the companies are tending towards the use of energy harvesting due to effectiveness. Major Companies of energy harvesting are also concentrating on mergers, acquisitions etc. which is also helping to expand the market share and increasing the competition. 

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2022 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region. 

By Source (2020-2030; US$ Mn)

  • Light
    • Solar
    • Infrared
    • UV
  • Mechanical
    • Solar
    • Infrared
    • UV
  • Electromagnetic/RF
    • Near Field
    • Far field
  • Thermal
  • Others

By System (2020-2030; US$ Mn)

  • Electrodynamic
  • Photovoltaic
  • Thermoelectric
  • Piezoelectric
  • RF Transducers
  • Electromagnetic Transducers

By Application (2020-2030; US$ Mn)

  • Building and Home Automation
  • Consumer Electronics
  • Industrial application
  • Transportation
  • Security & defense

By Region (2020-2030; US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
    Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

  • Pre Covid-19 situation
  • Post Covid-19 situation 

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global energy harvesting market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?
  • Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth

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