Energy Harvesting Market - Global Industry Analysis, Size, Share, Growth 2023
Energy
harvesting, or energy scavenging, is a process that extracts small
amounts of energy that would otherwise be lost in the form of heat,
light, sound, vibration or movement. It uses this captured energy to
improve efficiency and enable new technology. The efficiency is enhanced
in computing costs which would otherwise be altered significantly. If
this left-over heat energy were harvested, it would be used to help to
power other devices with lower power rating.
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Large-scale
ambient energy (e.g. solar, wind and tide), is widely available and
various technologies are being developed to utilize it efficiently. On
the other hand, fossil Fuels are limited and an expensive sources of
producing energy, which also pollutes environment. Sustainable energy
can be obtained from these ambient sources. Considering the energy
sector scenario there are small amounts of residual energy that could be
useful if captured. Recovering these sources of energy would have a
substantial economic and environmental impact. This is the incident
where the energy harvesting practices need to be relied upon for energy
efficiency and conservation.
Rising
demand of energy, increasing awareness of efficient use of energy and
government support for energy conservation are driving the growth of
energy harvesting market. The factor which can restrain the growth of
the market are high initial investment in the technology and lack of
awareness about the technology in some economies.
Energy
harvesting can be found in various application areas such as consumer
durable electronics sector, industrial sector, building and home
automation sector, military and aerospace sector, wireless sensor
network (WSN), automotive sector, among others. Consumer electronics
forms one of the major application areas in energy harvesting market.
The
application of energy harvesting technology can also be done in the
building of smart cities where the practices like energy saving,
resource saving can be created which will lead to a safe and secured
environment from the point of view of energy usage.
Energy
harvesting market can be classified on the basis of different energy
sources/fields. The market can be divided among: radiation (solar,
electromagnetic and light, etc.), mechanical (fluid, elastic, kinetic
and potential), chemical (battery, fuel cells and phase change),
nuclear, magnetic, electric, thermal and gravitational. The utility of
these energy sources depends upon the location of the energy harvester
and can be restricted to a specific application for a given location.
Among these, energy harvesting using electric and magnetic fields is
most common.
Energy
harvesting market can also be segmented on the basis of technology used
which includes light energy harvesting, thermoelectric energy
harvesting, electromagnetic energy harvesting, vibration energy
harvesting, and fluid energy harvesting.
Energy
harvesting market is segmented among various geographies like North
America, Asia Pacific, Middle East and Africa, Europe and South and
Central America for the ease of the study.
Among
these regions, Europe is the fastest growing market, followed by North
America, Asia Pacific and other regions. In North America, the U.S.
accounts for the maximum share; whereas, in Asia Pacific, Japan accounts
for the largest market share in the energy harvesting market. The
global energy harvesting market is expected to grow at a fast pace over
the next six years.
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Some
of the key players in the energy harvesting market are Arveni,
Perpetuum, SolePower, EnOcean, GreenTeg, Fujitsu, G24 Innovations,
Honeywell International, ABB Ltd., Siemens AG among others.
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