Energy harvesting which is also known as power harvesting is the process that capture minute amounts of energy from various naturally-occurring energy sources, accumulate them and store them for later use.
Rising demand for energy in major end-use industries are projected to drive the overall energy harvesting market. Furthermore, growth in infrastructure and industrialization spending is projected to have a direct impact on the global energy harvesting market. Shift in consumer preference towards energy saving technologies is projected to boost the market demand. However, high capital cost and lack of awareness about energy harvesting is projected to hinder the market growth. On the other hand emergence of innovative energy harvesting technologies such as Ocean Energy Harvesting is projected to provide huge market opportunities for the producers.
Owing to favorable government support, Europe accounts for the largest share of the market. Asia Pacific and North America are projected to witness significant growth over the next six years. Various regulatory norms and R&D investment are projected to have positive impact on the global energy harvesting market.
To maintain their market presence players are opting for different strategies. Expansion in product line, product improvement, and customized product offering plays a vital role. To gain competitive advantage, the market players are entering into strategic acquisitions and partnerships.
Global energy harvesting system market is segmented on the following bases:
Key Players Identified in the energy harvesting system market include but are not limited to:
Infinite Power Solutions, Honeywell International, ABB Limited, G24 Innovations, Microgen Systems, Siemens AG, Schneider Electric, Enocean Alliance, Cymbet, Enocean and Arveni are some of the key players present in this market.
This report offers: