Market Insights
Energy harvesting, also known as power harvesting, is the process of capturing minute amounts of energy from various naturally-occurring energy sources, accumulating them, and storing them for later use.
Rising demand for energy in major end-use industries is 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. A shift in consumer preference towards energy-saving technologies is projected to boost market demand. However, high capital costs and a lack of awareness about energy harvesting are projected to hinder the market growth. On the other hand, the 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 investments are projected to have a positive impact on the global energy harvesting market.
To maintain their market presence, players are opting for different strategies. Expansion in product lines, product improvement, and customized product offerings play a vital role. To gain a competitive advantage, the market players are entering into strategic acquisitions and partnerships.
The global market for energy harvesting systems is segmented on the following bases:
By Technology
- light energy harvesting
- Vibration Energy Harvesting
- Electromagnetic/Radio Frequency (RF) Energy Harvesting
- Thermal Energy Harvesting
By Application
- Building and Home Automation
- Consumer Electronics
- Industrial
- Transportation
- Security
By Geography
North America
- U.S.
- rest of North America
Europe
Asia-Pacific (APAC)
Latin America
- Brazil
- rest of Latin America
- Middle East and Africa
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 Arverni, are some of the key players present in this market.
This report offers the following:
- An overview of the global energy harvesting system market
- Market trends assessment for the period 2016-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
- Qualitative assessment tools such as market drivers, challenges, and future prospects, and competitive analysis: market positioning of key market players
- Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
- A general overview of the industry structure
- Company profiles highlight key information about the major players operating in the global energy harvesting system market.
- This report includes an estimation of market sizes for value and volume. Both top-down and bottom-up approaches have been used to estimate and validate the size of the energy harvesting system market.
