Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Thermoelectric Module Market size was valued at USD 614.22 million in 2024 and is expected to reach USD 2.49 billion by 2037, expanding at around 11.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of thermoelectric module is evaluated at USD 673.74 million.
The growth of the market is thriving on the back of the increasing adoption rate of thermoelectric modules globally, backed by the launch of new eco-friendly products, followed by the innovative technological advancements and developments in the thermoelectric modules. Moreover, increasing product miniaturization, coupled with the development of several micro devices, such as microcontrollers, microprocessors, microsensors and micro instruments and the increasing research and development activities by the key players for the development of advanced thermoelectric modules are some of the factors anticipated to promote towards the growth of the global thermoelectric module market.
