Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Energy Harvesting Market size was valued at USD 667.28 million in 2024 and is likely to cross USD 1.9 billion by 2037, registering more than 8.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of energy harvesting is estimated at USD 714.92 million.
Increase in energy consumption rate and environmental concerns along with the demand for environmentally friendly and sustainable energy resources combined with the strict government regulations towards energy harvesting are some of the significant factors boosting the market growth.
Energy Harvesting Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Demand for Power Efficient and Green Energy to Boost the Market Growth
There has been growing requirements of renewable energy sources such as solar, wind, thermal, tidal and vibration energy on account of its benefits such as minimum maintenance and environment friendly. As per the International Renewable Energy Agency (IRENA), the share of renewables in meeting global energy demand is expected to grow by one-fifth in the next five years to reach 12.4% in 2023. Further, the market growth is attributed to the large-scale applications of energy harvesting technology in industrial wireless sensor networks (WSN) and, building and home automation. These factors are anticipated to significantly expand the energy harvesting market. -
Government Regulations
The government initiatives and regulations imposed on using the sustainable energy systems is anticipated to boost the market growth. UN Framework Conventional on Climate Change (UNFCCC) started initiatives and laid regulations which emphasize on transferring the green technologies. - Rise in Industrialization and Urbanization to Drive the Market Growth
The urban infrastructure and industrialization all over the world are emerging at a fast pace owing to availability of renewable energy resources on a large scale. However, the demand for energy resources by industries are met by the advanced and innovative techniques based on energy harvesting. On the back of these, the market is predicted to grow over the forecast period.
Challenges
- Lack of Consumer Awareness and Higher Initial Cost to Hamper the Market Growth
Despite the advancement in technology, there is a limited awareness among consumers on the usage and availability of energy harvesting. Also, there is a higher initial investment on the devices which are based on energy harvesting. This is estimated to hinder the growth of market in the future.
Energy Harvesting Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
8.4% |
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Base Year Market Size (2024) |
USD 667.28 million |
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Forecast Year Market Size (2037) |
USD 1.9 billion |
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Regional Scope |
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Energy Harvesting Segmentation
The market is segmented by technology into light energy harvesting, thermal energy harvesting, electromagnetic/radio frequency energy harvesting, vibration energy harvesting and kinetic energy harvesting. Among these segments, the segment for light energy harvesting is anticipated to hold the leading share in the market on account of rise in number of companies providing solar-energy based solutions such as building automation, solar cells and security applications.
Our in-depth analysis of the global market includes the following segments:
By Technology |
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By Component |
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Application |
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End-User |
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Customize this ReportEnergy Harvesting Industry - Regional Synopsis
On the basis of regional analysis, the global energy harvesting market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for energy harvesting in North America industry is set to dominate majority revenue share by 2037, driven by presence of leading players in the region. which manufacture and market devices working on energy harvesting. Moreover, the growing utilization of renewable energy to power tiny electronic devices in home automation and increasing government activities to promote energy harvesting are met in this region which further increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of developing internet-of-things (IoT) and growing digital infrastructure in the region. The improving advanced technologies are facilitating the transformation of urban areas into smart cities which are sustainable and energy efficient. This concept of smart city especially in evolving country such as India further raise the demand for energy harvesting.
Companies Dominating the Energy Harvesting Landscape
- ABB Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Honeywell International Inc.
- Siemens AG
- Schneider Electric
- Texas Instruments Incorporated
- STMicroelectronics
- Fujitsu Limited
- EnOcean GmbH
- Cypress Semiconductor Corporation
- Cymbet Corporation, Inc.
In the News
Author Credits: Dhruv Bhatia
- Report ID: 879
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
