Energy Harvesting Equipment Market Estimated to be Worth USD 971 Million By 2026
The Global Energy Harvesting Equipment market generated $372 million in 2017 and is anticipated to grow at a CAGR of 11.4% during the forecast period.
Energy Harvesting Equipment uses electrical energy present in the environment to power various circuits and appliances. Energy harvesting equipment is used to power electronics at locations with no conventional power sources, and in applications in remote locations, underwater, and other difficult-to-access locations. Some applications of energy harvesting equipment include remote corrosion monitoring systems, implantable devices and remote patient monitoring, structural monitoring, RFID, Internet of Things, and equipment monitoring among others.
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The demand for energy harvesting equipment has increased over the years owing to growing environmental awareness among consumers. Rising energy costs, and depletion of traditional fuel sources has increased the adoption of energy harvesting equipment. The increasing need for energy efficiency, supportive government initiatives, and growing awareness regarding use of renewable energy sources supports the growth of the market. Growing demand from building and home automation and wearable electronics along with technological advancement and growing adoption of wireless sensor networks is expected to provide numerous growth opportunities in the coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Energy Harvesting Equipment Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America generated the highest revenue in 2017 owing to introduction of supportive government regulations and growing awareness regarding environmental pollution. The increasing demand from building and home automation sector has accelerated the adoption of energy harvesting equipment in the region.
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Competitive Landscape and Key Vendors
The global Energy Harvesting Equipment market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the report include Fujitsu Limited, GreenPeak Technologies, ABB Limited, Texas Instruments Incorporated, Microchip Technology Inc., Siemens AG, Arveni SaS, Cymbet Corporation, Honeywell International Inc., and Enocean GmbH.
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Key Segment Outlook
- Thermoelectric Energy Harvesting
- Piezoelectric Energy Harvesting
- Electrodynamic Energy Harvesting
- Photovoltaic Energy Harvesting
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