Energy Harvesting and Energy Storage Market: Proliferating Need for Alternative Power Solutions to Open Myriad of Opportunities for Vendors.

The growing need to generate power on a large scale by utilizing less energy is paving way for the progress of the global energy harvesting and energy storage market, states Transparency Market Research (TMR) in a new research report. The report is titled, “Energy Harvesting and Energy Storage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014–2020.”

According to the report, the growth of the global energy harvesting and energy storage market can be attributed to rising concerns regarding the extensive use of non-renewable energy sources to cater to the unmet energy needs. Energy is available in forms such as electromagnetic, mechanical, kinetic power, thermal, wind, and solar. Energy harvesting and storage is a technique through which energy derived from these sources collected, stored, and managed in a way that it can be used for viable purposes in the future.

The report states that the power derived from the storage and harvesting of energy is a potential solution during the hours of demand in remote areas and thus can be supplied there in times of need. Ambient energy such as human power, environmental vibrations, thermal gradients, and pressure gradients is scavenged to harvest energy for future use. Energy harvesting and storage also enhance the reliability of the grid system as it is employed as an alternative source of energy to feed primary power sources.

The study says that the advancement in technology has boosted the capacity and efficiency of the energy harvesting devices, thus enabling maximum energy accumulation and conversion into electrical energy. Furthermore, the growing demand for durable and safe power sources is anticipated to fuel the growth of the global energy harvesting and energy storage market during the forecast period. Initiatives by governments regarding environmental friendly power generation is another factor that is likely to drive the adoption of energy harvesting and energy storage devices.

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Factors such as limitations in the modules of remotely installed networks and low deployment of energy harvesting in emerging economies due to high initial costs are expected to impede the growth of the market. However, manufacturers of energy harvesting and energy storage systems can gain lucrative growth opportunities from the advent of ocean energy harvesting and the adoption of this technique in portable medical equipment.

The report presents a comprehensive overview of the growth trajectory of the global energy harvesting and energy storage market along with the predominant trends. It also highlights the dynamics that are anticipated to drive or inhibit the growth of the market during the forecast period. The study also projects the revenue and volume growth of the market. Information on the competitive landscape, degree of entry and exit barriers, and leading companies has also been offered in the report.

Geographically, Europe dominates the global market closely trailed by North America and Asia Pacific. The growth of the market in Europe can be attributed to the initiatives taken up by the European Commission to promote the development of the technologies employed in energy harvesting. The leading companies operating in the global energy harvesting and energy storage market are Siemens AG, Honeywell International Inc., Fujitsu, Arveni, and ABB Limited, among others.

Global Energy Harvesting Market: Emergence of Ocean Energy Harvesting to Widen Growth Scope, reports TMR

The global energy harvesting market is being propelled by the growing awareness regarding the conservation of energy, states a new research report by Transparency Market Research (TMR). The report is titled, “Energy Harvesting Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2023.” It presents an analysis of the market based on energy source, technology, application, and geography. The report also discusses important market dynamics such as current trends, future opportunities, and factors driving or restraining the global energy harvesting market.

Energy harvesting is gaining importance steadily over the years owing to the growing awareness regarding efficient use of energy. Energy harvesting involves the process of extracting small amounts of energy that would be otherwise lost if not captured. This left-over energy is harvested to help power other devices, thus leading to an efficient use of energy. As solar, tide, and wind energies are being widely used, residual energy extracted from these sources can have a significant economic and environmental impact. These benefits are driving the global energy harvesting market.

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Factors hampering the growth of the market include their high initial set up cost which may emerge as a concern for the players entering the business. Limited awareness about energy harvesting is another restrain that will hinder the market’s growth in the coming years. However, players are increasingly investing on research and development activities which are expected to lead to an emergence of innovative energy harvesting technologies such as ocean energy harvesting. This will likely widen the opportunities for players in the energy harvesting market.

The energy harvesting market is segmented on the basis of energy sources into radiation, mechanical, chemical, nuclear, gravitational, magnetic, chemical, and thermal. Of these, the use of electric and magnetic sources is most common. On the basis of technology used, the market is segmented into vibration energy, light energy, electromagnetic energy, thermoelectric energy, and fluid energy harvesting. By geography, the energy harvesting market is segmented into Asia Pacific, North America, Europe and South and Central America, and Middle East and Africa. Among these, Europe, followed by North America is expected to expand at a fast pace. The U.S. in North America and Japan in Asia Pacific are significant contributors to the energy harvesting market.

The report profiles key players operating in the global energy harvesting market. They are: Arveni, Perpetuum, EnOcean, SolePower, GreenTeg, Siemens AG G24 Innovations, Fujitsu, Honeywell International, ABB Ltd. The recent developments of these companies along with their growth strategies have been included in the report. In addition to this, the report gives information regarding key mergers, collaborations, and partnerships between companies.

Energy Harvesting Market Advanced technologies & growth opportunities in global Industry by 2023.

Energy harvesting, or energy scavenging, is a process that extracts small amounts of energy that would otherwise be lost in the form of heat, light, sound, vibration or movement. It uses this captured energy to improve efficiency and enable new technology. The efficiency is enhanced in computing costs which would otherwise be altered significantly. If this left-over heat energy were harvested, it would be used to help to power other devices with lower power rating.

Large-scale ambient energy (e.g. solar, wind and tide), is widely available and various technologies are being developed to utilize it efficiently. On the other hand, fossil Fuels are limited and an expensive sources of producing energy, which also pollutes environment. Sustainable energy can be obtained from these ambient sources. Considering the energy sector scenario there are small amounts of residual energy that could be useful if captured. Recovering these sources of energy would have a substantial economic and environmental impact. This is the incident where the energy harvesting practices need to be relied upon for energy efficiency and conservation.

Rising demand of energy, increasing awareness of efficient use of energy and government support for energy conservation are driving the growth of energy harvesting market. The factor which can restrain the growth of the market are high initial investment in the technology and lack of awareness about the technology in some economies.

Energy harvesting can be found in various application areas such as consumer durable electronics sector, industrial sector, building and home automation sector, military and aerospace sector, wireless sensor network (WSN), automotive sector, among others. Consumer electronics forms one of the major application areas in energy harvesting market.

The application of energy harvesting technology can also be done in the building of smart cities where the practices like energy saving, resource saving can be created which will lead to a safe and secured environment from the point of view of energy usage.

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Energy harvesting market can be classified on the basis of different energy sources/fields. The market can be divided among: radiation (solar, electromagnetic and light, etc.), mechanical (fluid, elastic, kinetic and potential), chemical (battery, fuel cells and phase change), nuclear, magnetic, electric, thermal and gravitational. The utility of these energy sources depends upon the location of the energy harvester and can be restricted to a specific application for a given location. Among these, energy harvesting using electric and magnetic fields is most common.

Energy harvesting market can also be segmented on the basis of technology used which includes light energy harvesting, thermoelectric energy harvesting, electromagnetic energy harvesting, vibration energy harvesting, and fluid energy harvesting.

Energy harvesting market is segmented among various geographies like North America, Asia Pacific, Middle East and Africa, Europe and South and Central America for the ease of the study.

Among these regions, Europe is the fastest growing market, followed by North America, Asia Pacific and other regions. In North America, the U.S. accounts for the maximum share; whereas, in Asia Pacific, Japan accounts for the largest market share in the energy harvesting market. The global energy harvesting market is expected to grow at a fast pace over the next six years.

Some of the key players in the energy harvesting market are Arveni, Perpetuum, SolePower, EnOcean, GreenTeg, Fujitsu, G24 Innovations, Honeywell International, ABB Ltd., Siemens AG among others.

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