Energy Harvesting System Market Players: ABB, Schneider Electric, Bionic Power, Inc., And Stmicroelectronics

 Energy Harvesting System Industry Overview

The global energy harvesting system market size is expected to reach USD 986.3 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 10.2% from 2020 to 2028. Growing expenditure in infrastructure and industry development is anticipated to have a positive impact on the global market over the projected period.

The COVID-19 pandemic has caused many disruptions in the market. However, mobility and economic activity are likely to accelerate with time. This is expected to increase commercial and industrial demand for Internet of Things (IoT) projects deployment, which will increase the demand for energy harvesting systems in the future.

 

IoT has gained widespread momentum across all industrial sectors including automotive, energy, defense, consumer electronics, and healthcare, among others. The increasing preference towards offering data-centric, personalized experiences to the customers is pushing companies to connect as many devices as possible to gather more consumer-related data.

Europe accounted for the maximum share of the global revenue in 2020 due to supporting policies by the European Union. European countries are investing in and focusing on the maximum utilization of IoTs to drive the technology’s advancement across various end-use sectors in the region, such as building & home automation, lighting, industrial, and automated meter reading.


Energy Harvesting System Market Segmentation

Grand View Research has segmented the global energy harvesting system market based on technology, vibration technology, component, application, and region:

Based on the Technology Insights, the market is segmented into Lights, Vibration, Radio Frequency, and Thermal.

  • The vibration technology segment led the market in 2020. The segment accounted for the maximum revenue share of more than 32% of the global market in 2020. Vibration or mechanical energy harvesting is done by converting the ambient vibrations into electric energy with the help of piezoelectric, electromagnetic, electrostatic, and electrodynamic technologies.

  • Thermoelectric Generators (TEGs) are used to convert ambient thermal energy into electric energy. These devices consist of thermopiles, which further consist of n-type and p-type junction that allows heat flow between these terminals and leads to electricity generation. The light technology segment is projected to record the fastest CAGR of more than 10.5% during the forecast years.


Based on the Vibration Technology Insights, the market is segmented into Piezoelectric, Electromagnetic, Electrostatic, and Electrodynamic.

  • The piezoelectric vibration technology segment led the market in 2020 and accounted for a revenue share of more than 48%. The piezoelectric energy harvesters convert ambient kinetic energy, which is present in the form of shocks or vibrations, into electricity. These generators (energy harvesters) offer a consistent and robust solution by converting typically wasted vibrational energy in the environment into usable electrical energy.

 

  • The electrostatic vibration technology segment is estimated to register the fastest CAGR over the forecast period. This technology uses a variable capacitor structure that generates electricity from the relative motion between adjacent plates. Electrodynamic energy harvesting systems convert ambient vibration into electricity by the relative motion of magnets and electrical conductors.

 

Based on the Component Insights, the market is segmented into Sensor, Transducer, Power Management IC (PMIC), Secondary/Backup Battery, and Others.

  • The sensor component segment led the market in 2020 with a revenue of more than 34.5%. On the basis of components, the global market has been divided into sensor, transducer, Power Management IC (PMIC), secondary/backup battery, and others. Sensors are one of the most crucial components of an energy harvesting system.

 

  • In an energy harvesting system, the generated power is stored in a capacitor or a small rechargeable battery for later use. The secondary/backup battery segment is estimated to register the fastest CAGR over the forecast period. Cymbet is one of the leading innovators in offering secondary/backup batteries. Other components include resistors, capacitors, transistors, diodes, and others, which are required to assemble a complete energy harvesting unit.

 

Based on the Application Insights, the market is segmented into Consumer Technology, Home & Building Automation, Industrial, Transportation, Security, and Others.

  • The industrial segment led the global market in 2020 with a maximum revenue share of more than 30.5%. In industrial applications, energy harvesting systems capture the ambient shaking, rotation, and vibration from machines and structures in industrial facilities and convert these sources into usable energy. Industrial applications are growing due to the evolution of IIoT.

 

  • Factors, such as the growing urban population, rising scope of application of IoT components in automation, high demand for power-efficient, safe, and durable systems, an emerging trend of renewable energy integration, and high product penetration in building and home automation applications, are driving the segment.

 

Energy Harvesting System Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The global market is highly competitive due to the presence of major companies across the regions. Companies operating in the global market are emphasizing expanding their global footprints to increase revenue and market share. Companies are expanding their services in the Asia Pacific, Central & South America, and Europe regions to cater to the rising needs of the emerging economies. Some of the prominent players in the global energy harvesting system market include:

  • ABB
  • Schneider Electric
  • Bionic Power, Inc.
  • STMicroelectronics
  • Cymbet
  • EnOcean GmbH
  • Powercast Corp.
  • Mahle GmbH
  • Analog Devices, Inc.
  • Texas Instruments, Inc.

 

Order a free sample PDF of the Energy Harvesting System Market Intelligence Study, published by Grand View Research.

 

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.

 

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

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