Growth in industrialization and infrastructure spending is expected to have a direct impact on the global energy harvesting market over the forecast period. Energy harvesting is a procedure where unused and naturally formed energy is utilized to produce energy using various advanced technologies. Growing demand for energy in major end-use industries are expected to drive the overall energy harvesting market. Various energy harvesting techniques include light, thermoelectric, electromagnetic, vibration and fluid energy harvesting. Light energy harvesting was the most popular method of energy harvesting in 2013 and is also expected to the most dominant type over the forecast period. The obvious fact of easy availability of solar energy is directly beneficial for this energy harvesting market. High penetration market in terms of end-use applications are expected to drive the market over the forecast period. Shift in trend of consumer preference for energy saving technologies is expected to have a direct influence in increasing demand for energy harvesting. Energy harvesting requires high initial set up cost which may emerge as a major concern for the manufacturers before entering the business. Lack of awareness spread about energy harvesting is expected to hinder the market growth over the next six years. However, emergence of innovative energy harvesting technologies such as ocean energy harvesting is expected to widen the opportunities for energy harvesting producers.
Europe was the largest regional energy harvesting market owing to the strong presence of environmental regulatory bodies. Favorable governmental support is also expected to drive the regional market over the forecast period. North America and Asia Pacific are expected to witness significant growth over the next six years. Various regulatory norms and R&D investment of U.S. government, Dept. of Energy (DOE) and European associations are expected to have positive influence on the overall energy harvesting market.
Major energy harvesting market participants include Arveni, ABB Limited, Convergence Wireless, Inc., Enocean, Cymbet, Enocean Alliance, G24 Innovations, Fujitsu, Greenpeak Technologies, Infinite Power Solutions, Honeywell International, Levant Power, Maerlow Industries, Maxim Integrated Products, Linear Technology, Microchip Technology Inc., Micropelt GMBH, Microgen Systems, Microstrain, Inc., Perpetuum, Nextreme Thermal Solutions, PowerleapInc., Siemens AG, Schneider Electric, Silicon Laboratories Inc., Texas Instruments and St Microelectronics.