Ferrotec (Japan) and Laird (UK) are the Key Players in the Thermoelectric Modules Market

The major drivers for the thermoelectric modules market include precise temperature control and superior benefits of thermoelectric modules, dual properties (simultaneous heating and cooling) of thermoelectric modules, improved fuel efficiency in vehicles using thermoelectric modules, and increasing awareness of green energy. Currently, the key players in the thermoelectric modules market are adopting various development strategies such as contracts, partnerships, agreements, mergers, acquisitions, expansions, product launches, and research and development (R&D) activities to gain a competitive advantage in the market.

In terms of market leadership, Ferrotec (Japan) leads the thermoelectric modules market. Other top companies in the thermoelectric modules market include Laird (UK), II-VI Marlow (US), Crystal Ltd. (Russia), and RMT Ltd. (Russia).

Ferrotec (Japan) has been ranked first in the thermoelectric modules market. Ferrotec is a diversified technology company and offers a broad array of end products and manufacturing systems across various industries. Ferrotec products are used in the telecom industry, biomedical industry, instrumentation applications, automotive industry, and power generation and consumer electronics application. The company has 12 production bases and 16 sales offices worldwide. The company has positioned itself for continued growth through product launches. Moreover, the company is extending its business through contracts, partnerships, alliances and collaborations of products and solutions. Furthermore, the company has continued its growth in different economies such as Taiwan, Japan, the US, and the UK. For instance, in January 2016, Ferrotec announced an alliance with JSW AFTY (Japan). This alliance helped JSW AFTY to represent the temescal electron beam evaporators of Ferrotec in the Japanese market. In addition, Ferrotec represented the systems developed by JSW AFTY in the US. Under this alliance, both companies provided sales, services, and support to customers in Japan and the US markets.

Laird (UK) has been ranked second in the thermoelectric modules market. Laird designs, manufactures, and supplies components and solutions for wireless systems and advanced electronics applications, as well as provides support services. The company’s strategy is to provide a broad range of products and solutions for thermal management and wireless systems. New developments and advancements in products require a wide variety of technologies and capabilities. Hence, the company is focusing on organic growth through product development, as well as inorganic growth by extending its existing businesses through acquisitions, expansions, and alliances, which, in turn, would help the company adopt new technologies for the development of new advanced and updated products. For instance, in January 2016, Laird completed the acquisition of Novero (Germany). With the acquisition of Novero, Laird extended its product portfolio in the wireless systems business segment.

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