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Energy Harvesting System Market Report Scope & Overview:

The Energy Harvesting System Market size was valued at USD 638.86 million in 2023 and is expected to grow to USD 1317.56 million by 2031 and grow at a CAGR of 9.47% over the forecast period of 2024-2031.

Energy harvesting is also referred to as energy scavenging or micro energy harvesting. It is the technique of capturing and converting small amounts of readily available energy in the environment into usable electrical energy. The produced electric energy is either used directly or stored for later use. Energy harvesting is an alternative source of power for application in a location where no grid power is present.

Energy Harvesting System Market Revenue Analysis

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Energy harvesting system provides an alternative source of electricity in locations where there is a lack of supply of grid power or is inefficient to generate electricity from solar panels or wind turbines. If the harvested energy is low and incapable of powering the device then it is used to extend the battery life. Energy harvesting systems provide unlimited operating life to low-power equipment and also eliminate the need of replacing costly batteries.

The energy harvesting system requires energy sources such as light, heat, vibration, and other three important components such as a harvester or transducer, energy storage, and power management. There is abundant energy in the environment, which can be converted into electrical energy for powering a variety of circuits.

Market Dynamics

Drivers

  • Growing population has increased the demand for the electricity

  • Increasing environmental awareness regarding the wastage of energy

  • Growing government rules and restrictions to reduce the greenhouse gas emission

  • Use of low-power electronic devices in the healthcare industry

  • Increasing adoption of energy harvesting systems in home appliances

The energy in the environment is wasted directly or indirectly but energy harvesting systems have the ability to capture and convert this energy into electricity which is further used in autonomous electronic devices and circuits. This factor is propelling the energy harvesting system market.

Restrain

  • Lack of consumer awareness regarding the energy harvesting system

  • High capital cost of energy harvesting system

Opportunities

  • Technological advancement in energy harvesting system

Challenges

  • Lack of technical expertise in the energy harvesting system

One of the primary challenges facing the energy harvesting system market is the lack of technical expertise in this field. This shortage of knowledge and skills can hinder the development and implementation of effective energy harvesting systems, which are crucial for sustainable energy solutions. Without the necessary technical expertise, companies and organizations may struggle to design and optimize energy harvesting systems that can efficiently capture and convert energy from various sources. As such, it is essential for industry professionals to invest in training and education to build the necessary technical expertise and drive innovation in this field.

Impact of COVID-19

The COVID-19 pandemic badly affected the energy harvesting service market. The disruption of the supply chain caused a shortage of semiconductor components, resulting in the delay in the new energy harvesting product developments. The downward growth of the energy harvesting market is also imposed due to the reduced demand from various end-users. Many regions have imposed lockdown restrictions during the pandemic which has halted various projects, and reduced production rates which lower the demand for electricity. All these factors hamper the growth rate of the energy harvesting system market.

Impact of Russia-Ukraine War:

The war between Russia and Ukraine impacted the market for energy harvesting systems mainly due to the disruption of the energy supply chain. This disruption caused a shortage of fossil fuels and natural gas. As a result, there has been an increased demand for alternative energy sources, including energy harvesting systems. This has led to a surge in the market for these devices, as businesses and individuals seek to reduce their reliance on traditional energy sources. However, the conflict has also created challenges for the energy harvesting system market. The instability in the region has made it difficult for companies to operate and invest in the market.

Impact of Recession:

The energy harvesting system market has been significantly affected by the recent economic recession. This downturn has resulted in a decrease in demand for energy harvesting systems, as businesses and consumers alike have been forced to cut back on spending. However, despite the challenges posed by the recession, the energy harvesting system market has shown resilience and adaptability. Companies in this industry have been forced to innovate and find new ways to reduce costs and increase efficiency in order to remain competitive. Advances in technology have made energy harvesting systems more efficient and cost-effective than ever before. This has helped to drive down the cost of these systems, making them more accessible to a wider range of businesses and consumers.

Market segmentation

By Technology

  • Lights

  • Vibration

  • Radio Frequency

  • Thermal

By Components

  • Sensors

  • Transducers

  • Power Management IC (PMIC)

  • Secondary/Backup Batteries

  • Others

By Application

  • Consumer Technology

  • Home & Building Automation

  • Industrial

  • Transportation

  • Security

  • Others

Regional Analysis

Asia-Pacific region is estimated to show a significant growth rate during the forecast period owing to the high purchasing power and low operational and labor cost. The increasing implementation of the Internet of Things-enabled technology to meet the infrastructure and supply challenges leads to the growth of smart cities, propelling the market across the region.

The U.S. is the dominating country in the North America region. The growth of this country is attributed to the increasing adoption of energy harvesting systems in buildings and home appliances. The usage of renewable resources to generate electricity is also rapidly increasing in this region which drives the market of energy harvesting systems in the future.

Energy-Harvesting-System-Market-By-Region

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REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of the Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 Key Players

The major key players are ABB, Schneider Electric, Bionic Power, Inc., STMicroelectronics, Cymbet, EnOcean GmbH, Powercast Corp., Mahle GmbH, Analog Devices, Inc., Texas Instruments, Inc., and other key players will be included in the final report.

ABB - Company Financial Analysis

Company Landscape Analysis

Key Developments:

In November 2019, ABB announced an exciting new partnership with Sweden's Exeger Operations AB. This collaboration has enabled Exeger to significantly improve the production quality of their innovative energy-harvesting photovoltaic nano-material.

Energy Harvesting System Market Report Scope:

Report Attributes Details
Market Size in 2023  US$ 638.86 Mn
Market Size by 2031  US$ 1317.56 Mn
CAGR  CAGR of 9.47% From 2024 to 2031
Base Year 2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Technology (Lights, Vibration, Radio Frequency, and Thermal)
• By Component (Sensor, Transducer, Power Management IC (PMIC), Secondary/Backup Battery, and Others)
• By Application (Consumer Technology, Home & Building Automation, Industrial, Transportation, Security, and Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles ABB, Schneider Electric, Bionic Power, Inc., STMicroelectronics, Cymbet, EnOcean GmbH, Powercast Corp., Mahle GmbH, Analog Devices, Inc., Texas Instruments, Inc.
Key Drivers • Growing population has increased the demand for the electricity
• Increasing environmental awareness regarding the wastage of energy
Market Opportunities • Technological advancement in energy harvesting system

 

Frequently Asked Questions

The expected CAGR of the global Energy Harvesting System Market during the forecast period is 9.47%.

The market size of the Energy Harvesting System Market is USD 638.86 million in 2023.

The major key players are ABB, Schneider Electric, Bionic Power, Inc., STMicroelectronics, Cymbet, EnOcean GmbH, Powercast Corp., Mahle GmbH, Analog Devices, Inc., Texas Instruments, Inc.

Asia-Pacific region dominated the Energy Harvesting System Market.

The growing population has increased the demand for electricity, increasing environmental awareness regarding the wastage of energy, Growing government rules and restrictions to reduce the greenhouse gas emission, Use of low-power electronic devices in the healthcare industry, and Increasing adoption of energy harvesting systems in home appliances are the driving factors of the Energy Harvesting System Market.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Energy Harvesting System Market Segmentation, By Technology
8.1 Lights
8.2 Vibration
8.3 Radio Frequency
8.4 Thermal

9. Energy Harvesting System Market Segmentation, By Component
9.1 Sensors
9.2 Transducers
9.3 Power Management IC (PMIC)
9.4 Secondary/Backup Batteries
9.5 Others

10. Energy Harvesting System Market Segmentation, By Application
10.1 Consumer Technology
10.2 Home & Building Automation
10.3Industrial
10.4 Transportation
10.5 Security
10.6 Others

11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Energy Harvesting System Market by Country
11.2.2North America Energy Harvesting System Market by Technology
11.2.3 North America Energy Harvesting System Market by Component
11.2.4 North America Energy Harvesting System Market by Application
11.2.5 USA
11.2.5.1 USA Energy Harvesting System Market by Technology
11.2.5.2 USA Energy Harvesting System Market by Component
11.2.5.3 USA Energy Harvesting System Market by Application
11.2.6 Canada
11.2.6.1 Canada Energy Harvesting System Market by Technology
11.2.6.2 Canada Energy Harvesting System Market by Component
11.2.6.3 Canada Energy Harvesting System Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Energy Harvesting System Market by Technology
11.2.7.2 Mexico Energy Harvesting System Market by Component
11.2.7.3 Mexico Energy Harvesting System Market by Application
11.3 Europe
11.3.1 Europe Energy Harvesting System Market by Country
11.3.2 Europe Energy Harvesting System Market by Technology
11.3.3 Europe Energy Harvesting System Market by Component
11.3.4Europe Energy Harvesting System Market by Application
11.3.5Germany
11.3.5.1 Germany Energy Harvesting System Market by Technology
11.3.5.2 Germany Energy Harvesting System Market by Component
11.3.5.3 Germany Energy Harvesting System Market by Application
11.3.6 UK
11.3.6.1 UK Energy Harvesting System Market by Technology
11.3.6.2 UK Energy Harvesting System Market by Component
11.3.6.3 UK Energy Harvesting System Market by Application
11.3.7 France
11.3.7.1 France Energy Harvesting System Market by Technology
11.3.7.2 France Energy Harvesting System Market by Component
11.3.7.3 France Energy Harvesting System Market by Application
11.3.8 Italy
11.3.8.1 Italy Energy Harvesting System Market by Technology
11.3.8.2 Italy Energy Harvesting System Market by Component
11.3.8.3 Italy Energy Harvesting System Market by Application
11.3.9 Spain
11.3.9.1 Spain Energy Harvesting System Market by Technology
11.3.9.2 Spain Energy Harvesting System Market by Component
11.3.9.3 Spain Energy Harvesting System Market by Application
11.3.10 The Netherlands
11.3.10.1 Netherlands Energy Harvesting System Market by Technology
11.3.10.2 Netherlands Energy Harvesting System Market by Component
11.3.10.3 Netherlands Energy Harvesting System Market by Application
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Energy Harvesting System Market by Technology
11.3.11.2 Rest of Europe Energy Harvesting System Market by Component
11.3.11.3 Rest of Europe Energy Harvesting System Market by Application
11.4  Asia-Pacific
11.4.1 Asia Pacific Energy Harvesting System Market by Country
11.4.2Asia Pacific Energy Harvesting System Market by Technology
11.4.3 Asia Pacific Energy Harvesting System Market by Component
11.4.4 Asia Pacific Energy Harvesting System Market by Application
11.4.5 Japan
11.4.5.1 Japan Energy Harvesting System Market by Technology
11.4.5. 2Japan Energy Harvesting System Market by Component
11.4.5. 3Japan Energy Harvesting System Market by Application
11.4.6 South Korea
11.4.6.1 South Korea Energy Harvesting System Market by Technology
11.4.6.2. South Korea Energy Harvesting System Market by Component
11.4.6.3. South Korea Energy Harvesting System Market by Application
11.4.7China
11.4.7.1 China Energy Harvesting System Market by Technology
11.4.7.2. China Energy Harvesting System Market by Component
11.4.7.3. China Energy Harvesting System Market by Application
11.4.8 India
11.4.8.1 India Energy Harvesting System Market by Technology
11.4.8.2. India Energy Harvesting System Market by Component
11.4.8.3 India Energy Harvesting System Market by Application
11.4.9 Australia
11.4.8.1 Australia Energy Harvesting System Market by Technology
11.4.8.2. Australia Energy Harvesting System Market by Component
11.4.8.3. Australia Energy Harvesting System Market by Application
11.4.10Rest of Asia-Pacific
11.4.10.1 APAC Energy Harvesting System Market by Technology
11.4.10.2. APAC Energy Harvesting System Market by Component
11.4.10.3. APAC Energy Harvesting System Market by Application
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Energy Harvesting System Market by Country
11.5.2 The Middle East & Africa Energy Harvesting System Market by Technology
11.5.3The Middle East & Africa Energy Harvesting System Market by Component
11.5.4The Middle East & Africa Energy Harvesting System Market by Application
11.5.5 Israel
11.5.5.1 Israel Energy Harvesting System Market by Technology
11.5.5.2 Israel Energy Harvesting System Market by Component
11.5.5.3 Israel Energy Harvesting System Market by Application
11.5.6 UAE
11.5.6.1 UAE Energy Harvesting System Market by Technology
11.5.6.2 Israel Energy Harvesting System Market by Component
11.5.6.3 Israel Energy Harvesting System Market by Application
11.5.7South Africa
11.5.7.1 South Africa Energy Harvesting System Market by Technology
11.5.7.2 South Africa Energy Harvesting System Market by Component
11.5.7.3 South Africa Energy Harvesting System Market by Application
11.5.8 Rest of Middle East & Africa
11.5.8.1 Rest of Middle East & Asia Energy Harvesting System Market by Technology
11.5.8.2 Rest of Middle East & Asia Energy Harvesting System Market by Component
11.5.8.3 Rest of Middle East & Asia Energy Harvesting System Market by Application
11.6Latin America
11.6.1 Latin America Energy Harvesting System Market by Country
11.6.2. Latin America Energy Harvesting System Market by Technology
11.6.3 Latin America Energy Harvesting System Market by Component
11.6.4 Latin America Energy Harvesting System Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Energy Harvesting System Market by Technology
11.6.5.2 Brazil Energy Harvesting System Market by Component
11.6.5.3Brazil Energy Harvesting System Market by Application
11.6.6Argentina
11.6.6.1 Argentina Energy Harvesting System Market by Technology
11.6.6.2 Argentina Energy Harvesting System Market by Component
11.6.6.3 Argentina Energy Harvesting System Market by Application
11.6.7Rest of Latin America
11.6.7.1 Rest of Latin America Energy Harvesting System Market by Technology
11.6.7.2 Rest of Latin America Energy Harvesting System Market by Component
11.6.7.3Rest of Latin America Energy Harvesting System Market by Application

12 Company Profile
12.1 ABB
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Schneider Electric
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Bionic Power, Inc
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 STMicroelectronics
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Cymbet
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 EnOcean GmbH
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Powercast Corp.
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Mahle GmbH
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Analog Devices, Inc.
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Texas Instruments, Inc
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View

13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments

14. Use Cases and Best Practices

15. Conclusion
 

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Secondary Research

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Primary Research

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Data Bank Validation

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