Global Energy Harvesting Market size is forecast to reach US$1 Billion by 2026, at a CAGR of 12.1% during 2021-2026.

HYDERABAD, TELANGANA, INDIA, October 19, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Energy Harvesting Market size is forecast to reach US$1 Billion by 2026, at a CAGR of 12.1% during 2021-2026. Energy harvesting devices helps in energy conservation which are been dissipated in terms of heat, light, sound, vibration, or movement. Devices aids in harvest or scavenge energy can capture, accumulate, store, condition, and manage this energy into electricity for further consumption. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the Energy Harvesting Market highlights the following areas -

• The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the Energy Harvesting market in APAC.

• With the implementation of the new regulations focusing on the emissions and traffic congestion, the increasing population which results in massive urbanization rates by 16% and is expected to proliferate sales of electric vehicles in near future which in turn fuel energy harvesting system market growth.

• The introduction of the new advanced process which convert mechanical energy into chemical directly while modifying the Li-ion battery, aid in automatically charging with energy generated by the movement of the individual.

• Developing countries are facing challenge on reducing the carbon footprints while ensuring people’s access to energy and powering rapid economic growth. Most countries are also seeking ways to enhance their energy security by reducing reliance on fossil-fuel imports. The implementation of the new policies such as feed-in tariffs and tax breaks help in reducing the cost of the renewable power.

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Segmental Analysis:

• Mechanical Technology dominated the market with revenue of $222m in 2020. Mechanical coupling from the vibration source to the harvester has to be good and the good electrical matching between the mechanical harvester and the electronic power management has to be provided to gain maximum power.

• The industry home & building automation market has acquired the largest market share with 40% in 2020, majorly driven by increase in smart home homes and buildings constructions in the recent years.

• Energy Harvesting market in Asia-Pacific region held significant market share of 37.5% in 2020. A group of researchers are focusing on the development of ‘Piezo’ harvesters which helps in reducing the number of heart surgeries for people dependent on pace makers.

Competitive Landscape:

The top 5 players in the Energy Harvesting Industry are -

1. ABB
2. Honeywell International Inc.
3. Microchip Technology Inc.
4. Fujitsu Ltd
5. Silicon Laboratories Inc.

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Venkat Reddy
IndustryARC
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