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Energy Harvesting Market Size

  • Report ID: GMI7235
  • Published Date: Oct 2023
  • Report Format: PDF

Energy Harvesting Market Size

Energy Harvesting Market was valued at USD 614.9 million in 2023 and is estimated to register at a CAGR of over 8.5% between 2024 and 2032. The market refers to the industry and technology sector focused on capturing and converting ambient energy from the environment into usable electrical power. This harvested energy can then be used to power electronic devices and systems, often in situations where it may be challenging or impractical to use traditional batteries or a continuous external power source.

 

Energy Harvesting Market

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Rapid growing IoT infrastructure along with advancements in energy harvesting technologies across various end use verticals will comprehend the industry landscape. The rapid proliferation of Internet of Things (IoT) devices has created a demand for sustainable, long-lasting power solutions. In addition, energy harvesting enables these devices to operate without frequent battery replacements. Moreover, ongoing advancements in energy harvesting technologies, such as improved efficiency and miniaturization, are expanding the range of applications and making these systems more viable for various industries.

 

The driving factors underscore the growing importance of energy harvesting as a sustainable and cost-effective approach to meet the energy needs of diverse industries, enhance environmental responsibility, and address the challenges posed by a changing energy landscape. The energy harvesting market is poised for continued growth and innovation as it contributes to a more sustainable and energy-efficient future.
 

Growing emerging market in developing countries coupled with increasing rural & off-grid application will complement the business scenario. Emerging markets with limited access to reliable power sources are recognizing the benefits of energy harvesting for powering essential devices and infrastructure. In addition, energy harvesting is a valuable solution for remote or off-grid locations, where a continuous power source is unavailable or impractical, thereby positively influencing the industry landscape.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market valuation of energy harvesting was exceeded USD 614.9 million in 2023 and is set to witness over 8.5% CAGR from 2024 to 2032, owing to growing adoption power electronic devices and systems.

Solar energy harvesting market size is anticipated to record around 8.6% CAGR through 2032, driven by supportive government policies, incentives and regulations for incentivizing the solar energy system installations.

North America market for energy harvesting is expected to observe over 7.6% CAGR through 2032, due to the increasing renewable energy initiatives along with the surging demand for sustainable buildings in the U.S. & Canada.

ABB, STMicroelectronics, Texas Instruments Incorporated, EnOcean GmbH, Fujitsu, Powercast Corporation, Mouser Electronics, Perpetua Power, Mide Technology Corp., Laird Connectivity, and Honeywell are some of the prominent energy harvesting companies.

Energy Harvesting Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 383
  • Countries covered: 21
  • Pages: 315
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