Energy Harvesting System Market Size Worth $913.8 Million

SAN FRANCISCO, Sept. 7, 2020 -- The global energy harvesting system market size is expected to reach USD 913.82 million by 2027 registering a CAGR of 6.5%, according to a new report by Grand View Research, Inc. The rising demand for power-efficient, safe, and durable units that require minimum maintenance will drive the product demand. Wide execution of the Internet of Things in home & building automation, energy harvesting technology, supportive initiatives by government authorities, growing adoption of WSN equipped with energy harvesting system, and increasing demand for clean and green energy is also likely to help boost the market growth.

Key suggestions from the report:
  • The global market was valued at USD 587.4 million in 2019 and is estimated to expand at a CARG of 6.5% over the projected period
  • The home & building automation component segment led the market in 2019 accounting for the largest share
  • However, consumer technology is estimated to be the largest as well as the fastest-growing component segment from 2020 to 2027
  • Europe is projected to be the largest regional market while MEA is expected to register the fastest growth rate during the forecast period
  • Thermal technology segment led the industry in 2019 and will retain its dominant position over the forecast period.
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Applications, such as building & home automation, are witnessing growing demand in the market across the world. Increasing demand for power-efficient systems is the main factor propelling the growth of the energy harvesting system (EHS) market. For most of the applications, microelectromechanical system-based energy harvesting is a good choice, as it delivers more stable energy performance for a longer period of time.

With the current rapid technical developments across North America, the region became the critical market for investment in the home and building automation segment, which will use renewable sources of energy and propel the growth of the EHS market. The U.S. accounted for most of the revenue share in North America. The market is expected to observe a significant growth owing to the thriving transportation and industrial sector.

Europe accounted for the largest market share in 2019 and will retain the leading position throughout the forecast period. Asia Pacific is expected to witness the fastest CAGR during the forecast period owing toa steady growth in both construction and manufacturing sectors in developing countries like China and India.

Grand View Research has segmented the global energy harvesting system market on the basis of component, technology, and region:
  • Energy Harvesting Systems Component Outlook (Revenue, USD Million, 2016 - 2027)
    • Home & Building Automation
    • Consumer Technology
    • Industrial
    • Transportation
    • Security
    • Others
  • Energy Harvesting Systems Technology Outlook (Revenue, USD Million, 2016 - 2027)
    • Lights
    • Vibration
    • Radio Frequency
    • Thermal
  • Energy Harvesting Systems Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
      • The U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • Russia
      • Spain
      • Italy
      • The U.K.
      • France
    • Asia Pacific
      • China
      • India
      • South Korea
      • Australia
      • Japan
    • Central and South America
      • Brazil
      • Paraguay
      • Colombia
    • The Middle East and Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • South Africa
  • List of Key Players of Energy Harvesting System Market
    • STMicroelectronics
    • Cymbet
    • ABB
    • Powercast Corp.
    • EnOcean GmbH
    • Analog Devices, Inc.
    • Texas Instruments Incorporated
    • Bionic Power Inc.
    • Voltree Power, Inc.
    • MAHLE GmbH
    • Schneider Electric.
Find more research reports on Conventional Energy Industry, by Grand View Research:

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Small Wind Market – The small wind market size was valued over USD 530 million in 2016 and is anticipated to grow at over 14% by 2025 owing to global energy crisis coupled with depleting non-renewable resources for electricity generation.

Solar Cell Market – Global solar cell market size was estimated at 182.4 GW in 2014. Rising penetration of renewable energy sources owing to environmental benefits with increasing electricity demand is expected to propel market growth.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519

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