Thermoelectric assemblies are compact thermoelectric coolers that control temperature of a wide range of applications such as electronic enclosure and laser diode packages with cooling capacity spectrum from 10 to 400 watts. This device is actually a solid-state active heat pump working on Peltier effect that uses electrical energy to create heat flux between two different types of material for transmission of heat from one side of device to another depending on direction of current. 

Thermoelectric assemblies are used on large-scale by healthcare and telecommunications industries, owing to features such as compact size, low weight, low power consumption, reduced noise and vibration, and precise temperature control accurate to within 0.010C under steady state conditions. This device protects electronics within enclosures from external contaminants as it can cool to well below ambient temperature and minimize moisture exposure along with environment-friendly nature. This system is flexible to mount in any orientation and in addition solar-based thermoelectric assemblies due to scarce availability of electricity enhances the product quality standards in the market. Extensive ongoing advancements to produce optimized performance than conventional compressor-based cooling and refrigeration systems is expected to result in substantial growth of thermoelectric assemblies market share in the coming years.

Covid-19 Impact Analysis:

• With the epicenter of the coronavirus outbreak in Wuhan, China and part of the global activities being stranded under quarantine, the thermoelectric assemblies market under the electronics industry is fearing supply disruption, owing to production curtailment. China being the manufacturing hub of electronic goods, industries are facing temporary shutdown putting a halt on production as well as negative impact on prices, revenue and product launches.
• Contrarily there is increase in demand for remote monitoring thermoelectric assemblies by food and beverages industry to store edible products in fresh condition maintaining their quality. Production cuts and postponement of product launches would lead to availability concerns and price rise with respect to consumers causing a loss in thermoelectric assemblies market share.
• After the unprecedented lockdown when supply starts at some point the governments worldwide should have increased capacity and efficient clearing system at the ports to handle the huge rush of imports with a view to overcome the disruption in demand-supply chain.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Surge in adoption of thermoelectric assemblies in telecommunication applications such as optical channel monitors, transmission lasers, optimum use of advanced, portable food containers, beer cabinets, vending machine to store processed food and rise in interest in green technology producing solar-power based thermoelectric solutions are primary factors that boost the thermoelectric assemblies market growth. However, high overhead and labor cost, increased price of components of thermoelectric assemblies such as heat sinks, CFM axial fans, thermal contacts are factors that hinder the market growth. Contrarily this solid-state cooling system is adopted in large-scale in the healthcare industry to offer immunoassay reagent cooling leading to effective storage and transportation of in-vitro diagnostic specimens such as human organ, insulin, and tissues. The paradigm shifting toward renewable resources and more energy-efficient solutions as well as extensive investments by the government in R&D activities are anticipated to pave new avenues to the thermoelectric assemblies industries.

New Product Launches to Flourish the Market

Leading thermoelectric assemblies market players are adopting necessary steps to develop environment-friendly thermoelectric assemblies for precise temperature control of analytical, medical and industrial equipment.

In April 2020, Laird Thermal Systems launched new generation Ultra TECTM UTX series of high-performance thermoelectric coolers which offer 10% boost in heat pumping capacity of upto 296watt with maximum temperature differential of 720C. This UTX series is suitable for spot cooling application such as laser projector, medical diagnostic system, and analytical instrumentation. These coolers are incorporated with advanced thermoelectric materials to achieve extra cooling capacity with less input power with a view to reach desired control temperature in higher ambient condition. It has 10% improvement in cooling capacity with no operational noise and is apt for high-vibration applications.

Surge in Use in Automotive and Industrial Applications

Due to the trend and demand for smart-sized, cost-prohibitive devices in semiconductor applications such as laser system, re-circulating bath, and spot cooling this environment-friendly solution is suitable for use in military and automotive sectors.

In May 2020, Laird thermal Systems, a global thermal management solutions supplier, launched the eco-friendly Nextreme Recirculating Chiller Platform with semi-open coolant system which offers reduced bacterial growth and reduced energy consumption by upto 50% of that of conventional system. The chiller is designed with R513A refrigerant that offers similar performance with less than half of global warming potential compared to hydrochlorofluorocarbon refrigerant. This series is available with 1800W, 2800W, 5000W cooling capacity models with RS-232/RS-485 communication interface to remotely request or send data setpoints to the chiller using communication commands. This platform is used in flow control measurement, coolant filtration in industries as well as by research laboratories and equipment manufacturers.

Market Scope and Structure Analysis:

Key benefits of the stakeholders:

• The study gives an analytical overview of thermoelectric assemblies market forecast with current trends and future estimations to determine imminent investment pockets.
• The report provides information related to key drivers, restraints, and opportunities along with detailed thermoelectric assemblies market analysis.
• The current thermoelectric assemblies market trends are quantitatively analyzed from 2021 to 2027.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

Key segments covered:

Questions answered in the Thermoelectric Assemblies Market research report:

• Who are the leading market players active in the thermoelectric assemblies market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the thermoelectric assemblies market?
• What are the projections for the future that would help in taking further strategic steps?