The thermoelectric module market is expected to reach $124.7 million by 2027 and is expected to witness market growth at a healthy rate of 8 over the forecast period from 2021 to 2027. The laboratory is a key factor driving the growth of thermoelectric modules. In addition, thermoelectric modules have advantages such as precise temperature control and cycling, compact geometric size and low power consumption, further contributing to the growth of this market. However, the high investment cost of thermoelectric modules compared to conventional cooling and refrigeration systems is holding back the market growth.
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Thermoelectric Module Market Segments:
By Model:
• Single-stage
• Multi-stage
By Type:
• Bulk Thermoelectric Modules
• Thin-film Thermoelectric Modules
• Micro Thermoelectric Modules
By Functionality:
• Deep Cooling Modules
• General-purpose Modules
By Offering:
• Hardware
• Software & Services
By End-use Application:
• Consumer Electronics
• Telecommunications
• Automotive
• Industrial
• Medical & Laboratories
• Aerospace & Defense
• Oil, Gas & Mining
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