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North America Energy Harvesting Market Trends

Report ID: GMI9488
Published Date: May 2024
Report Format: PDF

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North America Energy Harvesting Market Trends

The energy harvesting market is experiencing a significant evolution characterized by notable trends. The rapid proliferation of the Internet of Things (IoT) is gaining renewed importance, with the prospect of powering IoT devices sans the necessity for regular battery changes expected to propel market expansion. This inclination is fostering the creation of energy harvesting solutions that are both more effective and compact. Furthermore, progress in materials science is playing a pivotal role in enhancing the efficiency and longevity of energy harvesting devices, with novel materials and coatings augmenting the performance of solar panels, piezoelectric generators, and thermoelectric modules.

The prevalence of wireless sensor networks is on the rise, diminishing the dependence on wired power sources and cutting down maintenance expenses, particularly in fields such as environmental monitoring and industrial automation. The technology has gained substantial traction in the wearable technology industry, with solar cells and kinetic energy harvesters utilized to enhance user convenience and prolong battery life in smartwatches and fitness trackers.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

North America energy harvesting market size was USD 219.7 million in 2023 and is expected to register 8.2% CAGR from 2024-2032 owing to the burgeoning utilization of Internet of Things (IoT) infrastructure, coupled with advancements in energy harvesting technologies in the region.

North America energy harvesting market from the solar energy harvesting segment is expected to reach over USD 150 million by 2032 due to a notable shift in business dynamics owing to the declining costs of solar panels and related equipment.

The U.S. energy harvesting industry is expected to record over USD 290 million by 2032 due to government incentives, tax credits, and rebates provided at federal, state, and local levels in the country.

Honeywell, Mouser Electronics, Mide Technology Corp., Powercast Corporation, Perpetua Power, Qualcomm, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, and ZF Friedrichshafen AG, are some of the major energy harvesting companies in North America.