Energy harvesting systems are self-sustaining devices that can operate perpetually without the need for periodic replacement of batteries or wired connection to power grids. Energy harvesting systems find extensive applications in powering wireless sensor networks (WSN) that are used for structural health monitoring, environmental monitoring, industrial process monitoring, and several other industrial as well as non-industrial applications. The adoption of WSN has increased significantly over the past few years owing to their advantages such as low cost of installation and maintenance, ability to operate remotely for long durations without human intervention, and real-time data collection and transmission. The growing WSN market has accelerated the demand for energy harvesting systems that power these sensors economically and sustainably.
The global Energy Harvesting Systems Market is estimated to be valued at US$ 571.46 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The growing adoption rate of WSN has been a major driver propelling the energy harvesting systems market over the past decade. Sensors powered by energy harvesting systems can operate uninterruptedly for decades without battery replacement, reducing operational costs and the environmental footprint associated with battery disposal. In addition, rapid technological advancements in micro energy harvesting technologies focusing on enhancing power density and efficiency have enabled the miniaturization of energy harvesting modules that can be easily integrated with miniature wireless devices. These factors are expected to further stimulate the demand for energy harvesting systems during the forecast period.
Segment Analysis
The global energy harvesting systems market is dominated by the kinetic energy harvesting sub-segment due to factors like cost-effectiveness and efficiency. Kinetic energy harvesting systems convert ambient kinetic energy from sources like vibrations, motion, and impacts into electric energy that can be used to power low-powered electronic gadgets and devices. They have lower unit costs compared to other harvesting technologies and can effectively harvest energy from widely available ambient sources like mechanical vibrations.
Key Takeaways
The global Energy Harvesting Systems Market is expected to witness high growth over the forecast period of 2023 to 2030. The global Energy Harvesting Systems Market is estimated to be valued at US$ 571.46 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global energy harvesting systems market and is expected to continue its leadership till 2030. This can be attributed to factors like rising demand for consumer electronics, growing concerns regarding energy savings and harvesting, proliferation of IoT devices in applications like smart cities and assets tracking. Key countries like China, Japan and South Korea are rapidly adopting renewable energy harvesting technologies.
Key players
Key players operating in the energy harvesting systems market are Daikin Industries Ltd, Sharp Corporation, Mitsubishi Corporation, Hitachi Ltd., Haier Electronics Group Co., Ltd., Carrier, Samsung Electronics, Panasonic, Electrolux AB, and LG Electronics. Daikin Industries Ltd is a leading player with strong presence across HVAC and consumer appliances segments. Sharp Corporation is a top manufacturer of solar cells and modules globally. Mitsubishi Corporation has a diversified business portfolio spanning various industries including power systems and components.
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An intensifying CAGR is estimated to shape the global energy harvesting system market in the impending period.The inclination of the general population towards energy conservation is estimated to expand the energy harvesting technologies market.
Also, the focus on safe and durable power sources development is predicted to create a novel scope for expansion in the energy harvesting system market.Competitive Analysis The backing from administrative bodies around the world is escalating because the market requires an additional impetus to attain regularity in such a situation.
The stress on modernization is appraised to see an upswing in the coming years, as the user requirements have to be tackled in an improved manner to safeguard the revival of the worldwide market.
The conflict in the forces of demand and supply is appraised to produce a measured development context in the market.The eminent contenders in the energy harvesting system market include Fujitsu (Japan), Honeywell International Inc.(U.S.), STMicroelectronics (Switzerland), Siemens AG (Germany), Microchip Technology Inc. (U.S.), ABB Limited (Switzerland), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), and Texas Instruments (U.S.) among others.Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/1167Segmental Analysis The segmental investigation of the energy harvesting system market is carried out on the basis of components, methods, sensors, application and region.Based on the components, the energy harvesting system market is segmented into batteries, solar cells, capacitors, transistors, controllers, and switches, among others.Based on the methods, the energy harvesting system market is segmented into photovoltaic, vibration, and thermal, among others.Based on the sensors, the energy harvesting system market is segmented into pressure, humidity, temperature, and IR, among others.The application-based segmentation of the energy harvesting system market comprises of automation, consumer electronics, industrial, and transportation, among others.Based on the regions, the energy harvesting system market is segmented into the Americas, Europe, the Middle East, Asia Pacific and Africa.Detailed Regional Analysis The regional review of the energy harvesting system market is segmented into the Americas, Europe, the Middle East, Asia Pacific and Africa.
The extraordinary growth in the arena of technology and substantial investment by the vital companies in research and development and new product introductions are some of the foremost factor backing up the market development.
Energy Harvesting System Global Market - OverviewEnergy Harvesting is a process of collecting minute amount of energy from one or more of naturally occurring energy sources such as solar, wind or water and use them later in the different application areas.
Heavy investment by the key companies have also led to the advancement in the microprocessors technology leading to maximum efficiency of the processors and optimum utilization.
There are various companies who is working constantly in the development of energy harvesting components and products such as sensors, wireless nodes and high-capacity batteries.
Recently, Tesla have also started working on the new generation solar panels which can be deployed on the roof of any building and can collect solar energy.Get Free Sample Report:https://www.marketresearchfuture.com/sample_request/1167Key Players:ABB Limited (Switzerland), Fujitsu (Japan), Honeywell International Inc.(U.S.), Siemens AG (Germany), Microchip Technology Inc. (U.S.), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), STMicroelectronics (Switzerland), and Texas Instruments (U.S.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Energy Harvesting System market.
The new X-FAB eFlash IP block is targeted at replacing standalone NVM memories and embedded One-Time-Programmable (OTP) memories in low power applications, enabling onsite program code updates.
This means that it is highly suited to energy harvesting and remotely located Internet-of-Things (IoT) devices, where power constraints and harsh environments need to be dealt with, but field re-programmability must be offered at a low cost.December, 2017, Samsung has patented smart clothing that is able to harvest energy for powering personal gadgets or embedded sensors.
Energy Harvesting is a procedure where unused and naturally formed energy is utilized to produce energy using various advanced technologies.For industry structure analysis, the Energy Harvesting industry is relatively low concentrated.
The top five players account for about 46% of the revenue market.
Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-energy-harvesting-system-2021-2027-878 Market Analysis and Insights: Global Energy Harvesting System Market The global Energy Harvesting System market size is projected to reach US$ 1281.2 million by 2027, from US$ 620.1 million in 2020, at a CAGR of 10.8% during 2021-2027.With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Energy Harvesting System market to help players in achieving a strong market position.
Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Energy Harvesting System market in terms of revenue.On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Energy Harvesting System market.
All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources.
The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Energy Harvesting System market.
