Energy Harvesting Market: An Empirical Assessment of the Trajectory of the Market
Market Definition:
Energy Harvesting, also known as energy scavenging is the
process of capturing and accumulating the small amount of byproduct energy as
heat, sound, light, vibration or movement. The energy captured can be used
later in both low power and low voltage applications in portable or mobile
markets such as consumer devices, medical equipment, industrial controls,
transportation and military.
The energy captured is a residual energy as a byproduct
of industrial process or environmental phenomenon and is known as the “free
energy”. For instance, mechanical energy resulting from vibration, thermal
energy heat escaped from furnaces and through other sources.
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Market Growth and
Analysis:
Increasing demand and awareness for power-efficient, safe
and durable systems requiring minimum or no maintenance are anticipated to
drive the market growth. Furthermore, growing trend for green energy,
implementation of energy harvesting technology (IoT) in buildings and home
automation and favorable initiatives by the governments is projected to fuel
the market growth over the forecast period.
The energy harvesting technology helps in supporting the
global problem of energy saving without depleting the forms of energy. The
energy is harvested by scavenging wasted energy sources such as vibration,
radio frequency (RF), incident light, electromagnetism, temperature gradient
and human body functions or low-grade ambient energy.
Market Segment:
The energy can be utilized as the alternate energy source
for feeding the primary power source, hence enhancing the overall reliability
of the system. The technology further reduces the dependency battery power.
Increasing the governmental support for the energy harvesting and storage is
anticipated to drive the market growth over the forecast period. Furthermore,
advancements in the field of nanotechnology is anticipated to reduce the size
of energy harvesting devices making the device portable, enhancing the market
growth.
Shifting preferences of the consumer for energy saving
technologies is anticipated to have direct positive impact on the demand in the
market. However, high initial set up cost and lack of awareness spread for
energy harvesting technology may hinder the market growth.
Motion Energy Harvesters is one of the few technologies
launched in the year 2017, is in the form of fabric which is used for
harvesting both sunshine and motion. The motion-generated harvester is
developed by the team at the Georgia Institute of Technology. Since, the size
of the devices is getting small, the demand for energy to power the gadgets
increases, therefore the energy harvesting technology is utilized as the
supplement for the battery power.
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Market Key
players:
Some of the key players in the energy harvesting market
are Perpetuum, EnOcean, Arveni, GreenTeg, Fujitsu, Siemens AG, ABB Ltd., Texas
Instrument, Cymbet Corporation and Honeywell International.
Regional Analysis:
Europe is expected to be the leading regional market over
the forecast period owing to the implementation of various technologies such as
micro-electro-mechanical-system (MEMS). Furthermore, North America is also
anticipated to hold major share in the market owing to the rising adoption of
home automation, increasing demand of green energy resources, and industrial
wireless network.
Major Points from
Table of content:
• Executive
Summary
• Research
Methodology
• Market
Dynamics
• Industry
Overview
• Global
Energy Harvesting Market, By Product (2017-2025)
• Global
Energy Harvesting Market, By Regions (2017-2025)
• Market
Competition Analysis
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