Energy Harvesting System Market Size, Share & Trends Report

Energy Harvesting System Market Size, Share & Trends Analysis Report By Technology (Thermal, Vibration), By Component (Industrial, Consumer Technology), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-012-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 130

Report Overview

The global energy harvesting system market size was valued at USD 551.43 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2020 to 2027. The growth can be attributed to the rising adoption of Energy Harvesting System (EHS) in rural areas to avoid power interruptions and augment the reliability of an electrical system or to supplement the main source of electricity in an electrical circuit. Growing expenditure in infrastructure and industry development is anticipated to have a positive impact on the global market over the projected period. Energy harvesting is a method where a source of energy is used to produce energy using numerous advanced techniques. The rising demand for energy in end-user industries is projected to propel the market growth. Energy harvesting systems are widely used in medical equipment, transportation, consumer devices, military, and industrial controls. The U.S. market is anticipated to witness a growth of over 50% by 2027 owing to the thriving transportation and industrial sectors.

The U.S. energy harvesting systems market size

The U.S. market is observing a high adoption rate of industrial IoT as compared to the other countries, which is also boosting the growth of the EHS market. Major factors fueling the product demand include increasing demand for safe, durable, and power-efficient systems that need no maintenance; energy harvesting techniques in home automation and building; increasing adoption of wireless sensor networks fortified with EHS, and supportive initiatives by various government authorities. Rising preferences for energy-saving technology is likely to propel the market growth. In addition, the initiatives by various governments for a clean and green troposphere is having a positive impact on the growth of the industry.

Moreover, the execution of such technology in the infrastructure in retort to advancements in techniques is another feature influencing market growth. Energy harvesting systems use residual energy that is existing in the troposphere to convert or generate it into a useful form of energy. Thus, it is expected to surge the cost of deployment of such systems, hence, impacting the growth of the global market. Though, owing to the outbreak of the Coronavirus pandemic, China’s solar industry and its economy are twirling under the covid-19 impact. Since the exports are yet to be assessed fully, a parallel trend is executed on other key contributing countries, such as the U.S., which would curb the market growth.

Components Insights

The home & building automation components type segment accounted for the largest revenue share of over 17% in 2019. The growth can be ascribed to the growing adoption of the Internet of Things (IoT) and wireless sensor networking for control systems and home automation.

Factors, such as the extensive execution of Internet of Things devices in automation, growing demand for power-efficient, durable, and safe systems, the proliferation of urban population, awareness about green and clean energy, and penetration of energy harvesting technique in home & building automation are anticipated to propel the segment growth.

In the U.S., the home & buildings segment accounted for over 20% of the revenue share in 2019. Thus, there is a necessity for improving energy management across the country. In North America, EHS is being installed in commercial buildings for automatic lighting systems depending on the occupancy status, like in the classroom for temperature control, in residential buildings for reducing energy consumption, and in hotels for smart power control. However, the consumer technology segment is estimated to account for the maximum market share by 2027.

Technology Insights

The thermal technology segment accounted for the largest revenue share of over 35% in 2019. The thermal EHS captures heat, which is either wasted energy given off by engines, or readily available in the atmosphere, and also by other sources. The light EHS technology was the second-largest segment due to the growing number of manufacturers of solar products for security applications, building automation, and consumer electronics.

Global energy harvesting systems market share

Also, numerous companies are providing solar energy-based solutions for consumer electronics and building automation applications. The vibration EHS technology is projected to register the fastest CAGR from 2020 to 2027. It is an emerging technique that promises to produce energy to run a low-power device. Radiofrequency energy harvesting is boosted by the progress in both broadcast and wireless communication systems technologies that have availed a propagated ambient radio frequency EHS.

Regional Insights

Europe accounted for the largest share of over 28% in 2019 and is likely to expand further at a significant CAGR over the estimation period owing to the favorable government policies across the region. Furthermore, the European Commission is supporting by offering incentives and investing in R&D of EHS and storage units, thereby propelling the regional market growth.

North America is estimated to register significant growth over the forecast period. High penetration of vibration energy harvesting systems technology in industrial sectors including security, healthcare, consumer electronics, transportation, and others.

Key Companies & Market Share Insights

The EHS market is slightly concentrated owing to the presence of numerous large- and small-scale companies. Moreover, owing to substantial innovations in the product lines, there have been limited investments by new entrants. Also, the energy harvesting system market is highly uneven and some players have used strategies, such as expansions, new product launches, agreements, JV, acquisitions, partnerships, and others, to strengthen their industry positions. Some of the prominent players in the energy harvesting system market include:

  • STMicroelectronics

  • Cymbet

  • ABB

  • Powercast Corp.

  • EnOcean GmbH

  • FUJITSU

  • Analog Devices, Inc.

  • Texas Instruments Incorporated

  • Bionic Power Inc.

  • Voltree Power, Inc.

  • MAHLE GmbH

  • Schneider Electric

Energy Harvesting System Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 587.4 million

Revenue forecast in 2027

USD 913.8 million

Growth Rate

CAGR of 6.5% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Components, technology, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

The U.S.; Canada; Mexico; The U.K.; Germany; France; Italy; Spain; Russia; China; India; Japan; South Korea; Australia; South Africa; Egypt; Saudi Arabia; UAE; Colombia; Paraguay; Brazil

Key companies profiled

STMicroelectronics; Cymbet; Powercast Corp.; EnOcean GmbH; FUJITSU; Analog Devices, Inc.; Texas Instruments Inc.; Bionic Power Inc.; Voltree Power, Inc.; MAHLE GmbH; Schneider Electric

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2027. For the purpose of this study, Grand View Research has segmented the global energy harvesting system market report on the basis of component, technology, and region:

  • Component Outlook (Revenue, USD Million, 2016 - 2027)

    • Home & Building Automation

    • Consumer Technology

    • Industrial

    • Transportation

    • Security

    • Others

  • Technology Outlook (Revenue, USD Million, 2016 - 2027)

    • Lights

    • Vibration

    • Radio Frequency

    • Thermal

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • Russia

      • Spain

      • Italy

      • The U.K.

      • France

    • Asia Pacific

      • China

      • India

      • South Korea

      • Australia

      • Japan

    • Central and South America

      • Brazil

      • Paraguay

      • Colombia

    • The Middle East and Africa

      • Saudi Arabia

      • UAE

      • Egypt

      • South Africa

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