Thermal Energy Harvesting Market Size & Share 2025 - 2034

Thermal Energy Harvesting Market Size

According to a recent study by Global Market Insights Inc., the global thermal energy harvesting market was estimated at USD 163.1 million in 2024. The market is expected to grow from USD 169.7 million in 2025 to USD 353.4 million in 2034, at a CAGR of 8.5%.

• Increasing industrialization strategies for thermal recovery integration along with favorable clean energy initiatives catalyzing local thermal projects is augmenting the industry dynamics. The U.S. Department of Energy’s Industrial Decarbonization Roadmap identifies thermal energy systems as critical to achieving net-zero emissions in manufacturing. With over 30% of U.S. energy-related CO2 emissions originating from industry, the roadmap emphasizes waste heat recovery and thermal intensification as key levers.
   
• For instance, in 2024, DOE expanded its modeling to include pulp and paper sectors, integrating thermal harvesting into broader decarbonization strategies. This systemic approach reflects a shift from incremental upgrades to transformative thermal solutions, positioning thermal energy harvesting as a foundational technology in industrial sustainability.
   
• Rising various projects emphasis on community-scale thermal efficiency demonstrates growing federal support for thermal harvesting as a practical, deployable clean energy solution. For instance, in October 2023, the U.S. Department of Energy awarded USD 30 million in clean energy grants to 28 state, local, and tribal governments under the Energy Efficiency and Conservation Block Grant Program.
   
• Several recipients, including Alaska and Idaho, earmarked funds for thermal energy upgrades in public buildings and housing. These initiatives include heat pump installations and weatherization efforts that leverage ambient and waste heat. These initiatives will augment the integration of renewable energy into various harvesting technologies, thereby adding to the thermal energy harvesting market growth.
   
• Collaborations between universities, research labs, and private enterprises are accelerating the development and commercialization of thermal energy harvesting technologies. Academic institutions bring deep expertise in material science and thermodynamics, while industry partners contribute practical insights and funding. In addition, joint ventures and pilot projects are helping bridge the gap between lab-scale innovation and market-ready solutions.
   
• The aerospace and defense sectors are further leveraging thermal energy harvesting for mission-critical applications where reliability and endurance are paramount. Satellites, unmanned aerial vehicles (UAVs), and remote surveillance systems often operate in environments with limited access to conventional power. Thermal harvesters can utilize temperature differentials in space or high-altitude conditions to generate electricity.
   
• Growth in edge computing and decentralized systems in industrial automation and smart cities is rising the need for localized and reliable power sources including renewables is bolstering the market growth. For reference, in April 2024, the U.S. Department of the Interior announced it had surpassed its goal of permitting 25 gigawatts of clean energy projects on public lands, including geothermal installations that inherently involve thermal energy harvesting.
   

Thermal Energy Harvesting Market Trends

• The proliferation of IoT devices across industrial, agricultural, and urban infrastructure is driving interest in autonomous power solutions. Thermal energy harvesting offers a compelling alternative to batteries, especially in environments where maintenance is difficult. As IoT networks expand, the need for sustainable, maintenance-free power sources becomes increasingly critical, positioning thermal harvesting as a practical solution.
   
• Material science breakthroughs are significantly improving the efficiency and scalability of thermal energy harvesters. Innovations in nanostructured thermoelectric compounds including bismuth telluride and skutterudites are enabling better heat-to-electricity conversion at lower temperature gradients. These materials are being integrated into flexible substrates, allowing for use in wearable electronics and curved surfaces.
   
• Industries are increasingly recognizing the value of capturing and repurposing waste heat generated during manufacturing processes. In sectors like steel, cement, and chemical production, vast amounts of thermal energy are lost to the environment. By deploying thermal energy harvesters, companies can convert this excess heat into electricity to power auxiliary systems or feed back into the grid.
   
• For instance, DOE’s Advanced Manufacturing Office continues to highlight waste heat recovery as a top opportunity for industrial energy savings. Various technologies including scroll expanders for organic Rankine cycles and polymer-based heat exchangers are witnessing a promising pattern in converting medium-grade waste heat into usable power.
   
• The trend toward smaller, more efficient electronics is opening new avenues for thermal energy harvesting. Devices such as wearable health monitors, smart textiles, and implantable medical sensors require compact, low-power energy sources. Thermal harvesters, especially those integrated with flexible thermoelectric materials, are well-suited for these applications. For instance, a wearable patch that monitors body temperature can simultaneously generate power from skin heat.
   
• Governments and regulatory bodies are increasingly mandating energy-efficient practices and carbon reduction targets across sectors. These policies are encouraging companies to explore alternative energy sources, including thermal harvesting, to meet compliance requirements. For instance, building codes in some regions now incentivize the use of energy-recovery systems in HVAC installations.
   
• The DOE’s Stor4Build consortium, active in 2024, supports TES innovations that regulate indoor temperatures without converting thermal energy to electricity. With over 45% of building electricity used for thermal purposes, TES offers a direct path to decarbonization. European utilities and building owners are collaborating on field evaluations of TES, validating its role in enhancing comfort, resilience, and grid flexibility across the continent.
   

Thermal Energy Harvesting Market Analysis

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• Based on components, the market is segmented into energy harvesting transducer, power management integrated circuits (PMIC), and others. The energy harvesting transducer dominated around 44.7% of the market share in 2024 and is set to grow at a CAGR of 8.6% through 2034.
   
• Shift toward flexible and wearable thermoelectric materials is transforming how thermal energy harvesting is applied in wearable and biomedical devices. Traditional rigid modules are being replaced by thin-film and polymer-based materials that conform to body contours or curved surfaces. This enables integration into smart textiles, fitness trackers, and even implantable sensors.
   
• For instance, in August 2025, Atlantic Technological University (ATU) researchers developed a method to 3D print energy-harvesting polymers onto textiles, enabling durable, washable, self-powered wearable electronics for real-world applications. This will overcome challenges associated with high-temperature processing and weak interfacial bonding between polymers and fabrics, unlocking new possibilities for next-generation wearable energy harvesting systems.
   
• Energy harvesting transducers are increasingly being designed to work in tandem with other harvesting technologies including piezoelectric and photovoltaic systems to create hybrid energy platforms. This multi-modal approach ensures more consistent power availability, especially in environments where thermal gradients fluctuate. This integration trend is pushing transducer design toward modularity and interoperability.
   
• For instance, in August 2025, at SUNY Polytechnic Institute, New York, the research, titled "Advanced Microstructured BaTiO3-Embedded PVDF-HFP/PEO Film for enhanced triboelectric interface in self-sufficient energy generation and sensing," introduced a novel hybrid material that significantly improves the efficiency of triboelectric nanogenerators devices that convert ambient mechanical motion into usable electrical energy.
   
• Power management integrated circuits (PMICs) component industry will grow at a rate of 8.8% through 2034, driven by increasing ultra-low power design optimization and rising intelligent energy routing & storage management. PMICs in thermal energy harvesting systems are being optimized for ultra-low power operations to match the modest energy output of thermoelectric transducers.
   
• These circuits are now capable of functioning with input voltages as low as tens of millivolts, ensuring that even minimal heat differentials can be harvested effectively. This is particularly important for IoT devices and sensor networks where energy availability is sporadic. The trend reflects a broader push toward energy autonomy in low-power electronics.
   
• For instance, Companies like e-peas have introduced PMICs such as the AEM20940, capable of cold-starting from just 100mV input voltage, making them ideal for low-power thermal sources. These PMICs are used in wireless sensors and IoT devices where minimal energy is available.
   
• Moreover, the AEM13920 PMIC from e-peas supports dual-source energy harvesting and includes features like average power monitoring, thermal protection, and I²C control for dynamic energy routing between storage and load. This enables smarter energy distribution in devices like remote controls and smart switches.
   

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• Based on end use, the thermal energy harvesting market is segmented into wireless sensor networks, consumer electronics, building automation, automotive, others. The building automation segment held a market share of 37.9% in 2024 and will grow at a CAGR of 8.4% till 2034.
   
• Rising adoption of thermal storage for HVAC optimization along with increasing use of transparent thermal insulation materials will augment the industry growth. Furthermore, compliance with emission regulations including Germany’s 2024 policy mandates carbon pricing in construction, encouraging thermal energy harvesting in building automation to meet emission targets. This supports integration of thermoelectric systems in HVAC and lighting controls.
   
• Wireless network industry will grow at a CAGR of 8.6% through 2034, driven by rising wireless equipment’s across utility-scale deployment in buildings and enhanced security and spectrum efficiency. For instance, in June 2024, Massachusetts launched geothermal-based thermal energy networks, powering sensors across residential blocks.
   
• The consumer electronics industry will grow at a rate of 8.7% up to 2034. The industry growth is driven by increasing investment across the consumer electronics industry along with rising innovation in thermal energy indicators, that directly affects market growth on a global scale. For instance, in May 2025, SMK Electronics unveiled the SCPS Coin Battery Module, replacing CR2032 batteries with thermal and kinetic energy harvesting, enabling long-term operation of wearables and trackers without battery swaps.
   
• The automotive industry will grow at a CAGR of 9.9% through 2034, owing to increasing integration of waste heat recovery using thermoelectric generators along with rising investments for the kinetic energy recovery systems (KERS) across automobiles for energy harvesting principle is further propelling the industry dynamics across the globe.
   
• Piezoelectric materials are being embedded in vehicle suspensions and tires to harvest energy from road vibrations. These systems power auxiliary electronics and reduce load on the main battery, which in turn will augment the industry landscape over the forecast timeline.
   
• For instance, in October 2024, the U.S. DOE announced nearly USD 85 million investments to accelerate manufacturing electric heat pumps, helping to reduce energy consumption and harmful greenhouse gas emissions. This in turn will aid to the development of materials used for harvesting energy across the country.
   

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• The U.S. dominated the thermal energy harvesting market in North America with around 76% share in 2024 and generated USD 44.4 million in revenue. Continuous & exponential increase in industrial decarbonization initiatives along with rising private sector investment in thermal energy systems (TES) is favoring the industry growth across the region.
   
• For instance, in 2024, the U.S. Department of Energy announced over USD 6 billion for industrial decarbonization projects, including thermal energy harvesting systems to reduce fossil fuel reliance in manufacturing. Furthermore, DOE’s Grid Storage Launchpad, launched in August 2024, supports thermal energy storage technologies to enhance grid resilience and manage peak loads across states.
   
• The Europe thermal energy harvesting market will witness a CAGR of 8.3% through 2034. Policy and regulatory updates are tightening requirements to integrate waste heat and low-grade heat reuse into district and industrial systems, raising demand for thermal harvesting and heat-to-power conversion. The revised Energy Efficiency Directive and related EU guidance promotes progressive inclusion of waste heat in heating/cooling supply, creating clearer market pull for thermoelectric and heat-recovery projects.
   
• The Asia Pacific thermal energy harvesting market will reach USD 89 million by 2034. Increasing smart city integration along with rising consumer electronics demand will bolster the business outlook down the line. China and South Korea are integrating thermal harvesting into smart city infrastructure, powering IoT sensors and microgrids with ambient heat from urban environments.
   
• The Middle East & Africa thermal energy harvesting market will grow at a CAGR of 8.5% by 2034. Large energy companies and national operators are adopting industrial waste-heat capture and conversion as part of decarbonization and efficiency programs, corporate sustainability disclosures show operational projects converting turbine and process heat into steam or power, driving interest in thermal harvesting at scale.
   
• For instance, Dubai’s Mohammed bin Rashid Al Maktoum Solar Park includes the world’s largest thermal energy storage system (6,000 MWh), supporting grid stability and nighttime energy use. In addition, Saudi Arabia’s NEOM project combines solar and wind with thermal energy systems to produce green hydrogen, reducing CO2 emissions by 5 million metric tons annually.
   
• The Latin America thermal energy harvesting market will grow at a CAGR of 8.7% by 2034. Latin American agritech firms are using thermal-powered sensors for soil and crop monitoring, enabling battery-free operation in remote farming zones. In addition, Thermal harvesting is being deployed alongside solar and biomass plants in Argentina to capture residual heat and improve energy conversion efficiency.
   

Thermal Energy Harvesting Market Share

• The top 5 companies in the thermal energy harvesting industry are ABB, STMicroelectronics, Texas Instruments, Honeywell International, and TDK Corporation accounted for over 25% market share in 2024. TDK, through its InvenSense division, focuses on sensor-based energy harvesting, including thermal and vibration sources. The company is expanding its footprint in wearables, mobile devices, and industrial IoT through compact thermoelectric modules.
   
• Texas Instruments offers a robust portfolio of energy harvesting PMICs and thermoelectric-compatible components. Its focus on ultra-low power design and scalable reference platforms makes it a preferred supplier for industrial and consumer electronics. TI’s competitive edge comes from its deep integration with IoT ecosystems and strong distribution channels.
   

Thermal Energy Harvesting Market Companies

Major players operating in the thermal energy harvesting industry are:
 

• ABB
• Advanced Linear Devices Inc.
• Analog Devices Inc.
• Asahi Kasei Microdevices Corporation
• Cedrat Technologies
• EnOcean GmbH
• Fujitsu Components America Inc.
• Honeywell International Inc.
• Kinergizer
• Laird Thermal Systems, Inc.
• Microchip Technology Inc.
• Micropelt GmbH
• Mide Technology (Piezo.com)
• Mouser Electronics
• Perpetua Power
• Powercast Corporation
• Renesas Electronics Corporation
• STMicroelectronics
• TDK Corporation
• Texas Instruments
• ZF Friedrichshafen AG
   
• ABB manufactures thermal energy harvesting systems primarily for industrial automation and smart infrastructure. Their solutions integrate thermoelectric modules into process control and energy management platforms, supporting decarbonization and grid resilience. ABB’s Energy Industries division reported a strategic expansion into thermal systems in 2025, aligning with global energy transition goals and industrial electrification efforts.
   
• STMicroelectronics develops thermal energy harvesting ICs for IoT, building automation, and wearable electronics. Their SPV1050 and SPV1040 chips support thermoelectric generators with MPPT algorithms, enabling battery-free operation in low-power devices. In 2025, STMicroelectronics was recognized as a quadrant leader in energy harvesting systems due to its innovation in ultra-low power PMICs and strategic partnerships across smart city deployments.
   
• Honeywell International Inc. integrates thermal energy harvesting into its industrial and building automation solutions through Honeywell Thermal Solutions. Their systems optimize fuel-air ratios and recover waste heat in commercial and heavy industrial applications. In 2025, Honeywell expanded its portfolio to include cyber-securing thermal process controls, supporting emissions reduction and energy efficiency across global manufacturing sites.
   

Thermal Energy Harvesting Industry News

• In October 2025, LG Electronics decided to invest around USD 600 million in New India Plant to boost production business, boost localization, and drive premiumization to fuel growth in the country. The project will be completed in phases by 2029, supporting LG’s goal to scale up output and meet growing demand across India’s expanding consumer electronics base.
   
• In September 2025, the South Korea government announced that it will double the nation’s technology self-sufficiency rate in silicon carbide (SiC) power semiconductors, raising it from the current 10% to 20% in 2030. This in turn will project industry growth, as it deploys a large number of semiconductors in energy harvesting devices, thereby adding to the market growth.
   
• In April 2025, Asahi Kasei Microdevices (AKM) developed the AP4413, a new series of ultra-low current power management ICs (PMICs) ideal for battery charging systems used in energy harvesting applications. The AP4413 series enables efficient battery charging while consuming an extremely low current of 52 nA and features four variants with voltage threshold characteristics matching several common rechargeable battery types.
   
• In October 2024, DOE announced USD 518 million to support 23 selected projects that will strengthen the nation’s infrastructure for permanent, safe storage of carbon pollution. DOE also announced nearly USD 85 million to accelerate manufacturing electric heat pumps, helping to reduce energy consumption and harmful greenhouse gas emissions.
   

This thermal energy harvesting market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2025 to 2034, for the following segments:

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Market, By Component

• Energy harvesting transducer
• Power management integrated circuits (PMIC)
• Others

Market, By End Use

• Wireless sensor networks
• Consumer electronics
• Building automation
• Automotive
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina