Energy Harvesting System Market Size, Share & Industry Trends

Updated on : Oct 22, 2024

Energy Harvesting System Market Size & Growth

The global energy harvesting system market size was valued at USD 0.6 billion in 2023 and is estimated to reach USD 0.9 billion by 2028, growing at a CAGR of 10.0% during the forecast period 2023-2028

The growth of the market is driven by rising environmental concerns, miniaturization and flexibility requirements, and integration of IoT devices in energy harvesting systems for building and home automation.

Energy Harvesting System Market Forecast to 2028

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Energy Harvesting System Market Dynamics

Drivers: Miniaturization and flexibility requirements

The demand for smaller, more flexible energy harvesting systems is increasing, driven by the growing need for compact, lightweight, and versatile power solutions. Applications such as wearable electronics, IoT sensors, and smart packaging require energy harvesting systems that seamlessly integrate into small form factors and adapt to various shapes and structures. Miniaturization of energy harvesting systems enables their integration into smaller devices, making them more practical and efficient. For instance, in wearable electronics, energy harvesting systems can generate power from the wearer's movements or body heat, eliminating the need for frequent battery replacements. This enhances user convenience, extends device lifespan, and reduces electronic waste.

Flexibility is another crucial requirement for energy harvesting systems, particularly in applications where conformability and adaptability to curved surfaces are necessary. Flexible energy harvesting devices can be integrated into textiles, curved surfaces, or irregularly shaped objects without compromising performance or aesthetics. This opens up possibilities for energy harvesting integration in smart clothing, flexible displays, and curved electronics.

Restraint: Geographic and environmental constraints

Energy harvesting technologies depend on specific geographical regions or environmental conditions to perform optimally. For instance, solar energy harvesting relies on the availability of sunlight for effective power generation, making it less suitable for regions with limited sunlight exposure or high levels of cloud cover. Thus, geographic and environmental constraints can hinder the widespread adoption of energy harvesting systems in areas where the necessary resources are not readily available. Regions with low sunlight exposure may find solar energy harvesting less viable and may need to rely on other sources of energy generation. Similarly, regions with low wind speeds may not benefit from wind energy harvesting systems.

Furthermore, environmental conditions such as extreme temperatures, humidity, or corrosive environments can impact the efficiency and durability of energy harvesting systems. For example, extreme cold temperatures can reduce the efficiency of solar panels, while high humidity levels can affect the performance of certain energy harvesting devices. These environmental limitations may require additional considerations and adaptations in system design, materials, or maintenance protocols, which can increase costs and complexity.

Opportunities: Emergence of smart cities

The emergence of smart cities presents lucrative opportunities for the energy harvesting system industry. As cities become more populated and interconnected, there is a growing need for sustainable energy solutions to power smart infrastructure. Smart buildings, a key component of smart cities, can benefit from energy harvesting technologies in several ways.

By integrating energy harvesting systems into building structures, energy can be generated from ambient sources such as solar, thermal, or kinetic energy. This energy can power low-power devices, sensors, and monitoring systems within the building. Energy harvesting technologies can also capture and utilize wasted energy, such as harvesting heat from HVAC systems or capturing vibrations from building operations. These applications reduce the reliance on traditional energy sources and enhance the overall energy efficiency of buildings.

Intelligent transportation systems, another crucial aspect of smart cities, can also leverage energy harvesting systems. Traffic management systems, streetlights, and signage can be powered by energy harvested from ambient sources, reducing the dependence on the electrical grid. For instance, solar panels integrated into road surfaces can harvest solar energy and power streetlights or charging stations for electric vehicles. Energy harvesting technologies can also be used to capture energy from braking or vibrations in transportation systems, which can be converted into electricity to power onboard sensors, communications devices, or lighting.

Furthermore, energy-efficient networks within smart cities can be powered by energy harvesting systems. Wireless sensor networks, for instance, can utilize energy harvesting technologies to power the multitude of sensors deployed throughout the city for environmental monitoring, waste management, or security purposes. By harnessing energy from the environment, these networks can operate autonomously and reduce the need for frequent battery replacements or external power sources.

The integration of energy harvesting systems into smart cities offers numerous benefits. It reduces reliance on traditional energy sources, promotes sustainability, enhances energy efficiency, and improves the overall resilience of city infrastructure. Energy harvesting technologies enable smart cities to achieve self-sufficiency and reduce their environmental footprint. Moreover, they contribute to cost savings by reducing energy consumption and maintenance requirements.

Challenge: Limitations associated with integrating energy harvesting systems into existing infrastructure

The integration of energy harvesting systems into existing infrastructure poses significant challenges due to the diverse nature of the infrastructure and the need for retrofitting or modifications. The integration process involves adapting the infrastructure to accommodate energy harvesting technologies and ensuring compatibility with existing systems and operations.

One of the primary challenges is retrofitting older structures or buildings. Many existing buildings were not designed with energy harvesting systems in mind, which can make the integration process complex and costly. Retrofitting may involve modifications to the building envelope, electrical systems, and structural components to incorporate energy harvesting devices such as solar panels, piezoelectric sensors, or kinetic energy harvesters. Structural assessments and engineering expertise are often required to ensure the integrity and safety of the retrofitting process.

Similarly, integrating energy harvesting systems into roadways or transportation infrastructure presents unique challenges. The installation of energy harvesting technologies, such as piezoelectric materials or solar panels, may require road resurfacing or modifications to accommodate the devices. Coordination with transportation authorities and consideration of traffic management are essential to minimize disruptions during the integration process. Furthermore, the integration of energy harvesting systems with the existing transportation infrastructure may involve overcoming regulatory and safety requirements.

Industrial equipment and machinery also pose challenges for integration with energy harvesting systems. Retrofitting existing equipment to harness energy from ambient sources, such as vibrations or waste heat, may require modifications to the equipment design or the addition of energy harvesting modules. Compatibility with control systems and electrical interfaces must also be considered to ensure seamless integration without compromising the operational efficiency or safety of the equipment.

Future of the Energy Harvesting Devices Market

Energy Harvesting System Ecosystem

Energy Harvesting System Segmentation Analysis

In 2022, the light energy harvesting segment accounted for the larger share of the energy harvesting system market. As the demand for clean, sustainable energy solutions continues to rise, light energy harvesting offers a promising avenue for harnessing renewable energy. The advancements in photovoltaic technologies, such as solar panels, have paved the way for the efficient conversion of sunlight into usable electricity.

Additionally, emerging technologies such as organic solar cells, perovskite solar cells, and transparent solar panels are revolutionizing the field by enhancing efficiency and expanding the range of applications. The versatility of light energy harvesting allows it to be integrated into a wide array of devices and systems, including wearables, Internet of Things (IoT) devices, autonomous sensors, and smart infrastructure. This technology reduces reliance on traditional energy sources, promotes energy independence, reduces carbon footprint, and opens opportunities for decentralized power generation. With ongoing research and development efforts, the growth potential of light energy harvesting is expected to accelerate, driving innovation, sustainability, and economic growth in the coming years.

Transducers segment account for the largest share of the energy harvesting system market for during the forecast period

In 2022, the transducers segment held the largest share of the market. The rising demand for self-powered devices and the growth of the Internet of Things (IoT) are driving the need for energy harvesting transducers. Energy harvesting transducers offer an attractive alternative to traditional batteries, enabling the development of self-sufficient devices that can operate without external power sources or frequent battery replacements.

The increasing awareness of sustainability and energy efficiency is pushing industries towards renewable and environmentally friendly power solutions, reducing reliance on disposable batteries. The expanding use cases in various industries, including building automation, automotive, and transportation, further contribute to the growing demand. These factors collectively create a favourable environment for the increased adoption of energy harvesting transducers in the coming years.

Building & home automation application to exhibit highest growth in terms of energy harvesting system market during the forecast period

The building & home automation application segment is expected to account for the highest growth of the market. The segment is driven by the increasing demand for energy-efficient and smart living environments. The integration of energy harvesting systems into these applications has emerged as a key growth factor, offering numerous benefits in terms of sustainability, convenience, and cost savings.

These systems enhance energy efficiency by harnessing renewable sources like solar, thermal, or kinetic energy to power lighting, HVAC systems, sensors, and smart devices. With wireless connectivity and scalability, the energy harvesting systems provide easy integration without complex wiring. The maintenance-free operation and reduced environmental impact of energy harvesting systems further contribute to market growth across building & home automation applications. By leveraging energy harvesting systems, the building & home automation applications offer a greener and more adaptable future.

Energy harvesting system market in Asia Pacific estimated to grow at the fastest rate during the forecast period

The market, in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The region's technological advancements and manufacturing capabilities contribute to the development and commercialization of energy harvesting systems. Furthermore, the rising awareness and concern for environmental sustainability among consumers and businesses drive the adoption of clean energy practices, including energy harvesting. The Asia Pacific region is also witnessing significant investment in smart city projects, which require efficient and sustainable power solutions, thereby fuelling the demand for energy harvesting systems.

Energy Harvesting System Market by Region

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Top Energy Harvesting System Companies - Key Market Players

Major vendors in the energy harvesting system companies include

• STMicroelectronics (Switzerland),
• Microchip Technology Inc. (US),
• Texas Instruments Incorporated (US),
• Analog Devices, Inc. (US),
• Infineon Technologies AG (Germany),
• Renesas Electronics Corporation (Japan),
• EnOcean GmbH (Germany),
• ABB (Switzerland),
• Honeywell International Inc. (US),
• Qorvo, Inc. (US).

Apart from this, Kistler Group (Switzerland), Cymbet Corporation (US), Mide Technology Corporation (US), Physik Instrumente (PI) GmbH & Co. KG (Germany), CTS Corporation (US), Trameto Limited (UK), Nexperia (Netherlands), CeramTec GmbH (Germany), Bionic Power Inc. (Canada), Kinergizer (Netherlands), Powercast Corporation (US), Micropelt GmbH (Germany), Advanced Linear Devices, Inc. (US), APC International Ltd. (US), and Voltree Power (US) are among a few emerging companies in the energy harvesting system market.

Energy Harvesting System Market Report Scope

Energy Harvesting System Market Highlights

This research report categorizes the energy harvesting system market based on technology, component, end-use system, application, and region.

Recent Developments in Energy Harvesting System Industry

• In March 2023, STMicroelectronics (Switzerland) launched the L9961 battery management system (BMS) device, which offers precise and adaptable performance, improving the efficiency, durability, and safety of energy harvesting from Li-ion and Li-polymer batteries for applications such as power tools, energy storage, and medical devices.
• In March 2023, Infineon Technologies AG (Germany) launched the NGC1081, a new NFC tag-side controller that integrates sensing and energy harvesting capabilities. This compact, battery-free solution enables low-cost, smart sensing IoT devices for various applications, from medical patches to data loggers and smart thermostats.
• In June 2022, At Lightfair 2022, EnOcean GmbH (Germany) showcased its self-powered sensor and switch solutions based on energy harvesting wireless technology. The Easyfit portfolio offered wireless controls for smart lighting systems, enabling energy savings and improved environments. The products were battery-free, wireless, and interoperable, making them suitable for various building automation and IoT applications.

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