The global energy harvesting system market size was estimated at USD 581.86 million in 2021 and is expected to hit USD 1,503.9 million by 2030, growing at a CAGR of 11.13% from 2022 to 2030.
The energy harvesting system is the process of producing usable energy electrical energy by capturing the energy from one or more renewable energy sources. Energy harvesting is very important solution in order to power the IoT that are installed in accessible areas and require battery maintenance. In places where there are no power sources, energy harvesting is a very important tool in such cases. It helps in making the inaccessible devices Self sufficient by capturing the energy from the Renewable sources. The devices used for harvesting the energy are known as the energy harvesting system.
Growth Factors
Globally, the market is growing for durable systems that are power efficient and safe, which require very less maintenance. There is a rise in the adoption of wireless sensor networks due to automation in the houses and the green technology that is adopted by the various nations. There is wastage of the environmental energy. The systems that help in capturing this energy and converting it to electrical energy are a boon. Various research and development activities in the energy harvesting system is leading to the growth of this market. Supportive government policies and increased awareness about the environment. Also, the reduction in the emission of the greenhouse gases has helped in rising the demand for such technologies. An increasing trend of using renewable resources across many nations has created a need for improvement in this technology. In order to supplement the primary source of power to reduce the power interruptions and to increase the reliability of an electronic system, this technology is a boon.
Europe and USA are the major hubs for energy harvesting system market. The accurate impact of COVID-19 cannot be estimated. But there has been a disruption due to the shortage of semiconductors. The key application area for energy harvesting is building and home automation. The various climatic changes and changing rainfall patterns are increasing the demand for energy harvesting systems. Self powered wireless sensors are introduced by EnOcean to integrate the energy harvesting solutions. In order to decline the carbon footprints various nations are explaining the positive impact of this technology. Energy harvesting schemes will be introduced in smart cities in order to conserve energy and reduce the dependency on the service provider. Hong Kong is promoting the use of renewable energy by installing the harvesting devices on the roofs of the buildings.
Report Scope of the Energy Harvesting System Market
| Report Coverage | Details |
| Market Size by 2030 | USD 1,503.9 Million |
| Growth Rate from 2022 to 2030 |
CAGR of 11.13% |
| Largest Market | North America |
| Maximum Revenue Generated Region | North America |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Technology, Components, Application, Vibration Technology, End-use System, Energy Source, Geography |
| Companies Mentioned | ABB, Linear technology, Convergence wireless, Cymbet, EnOcean, Fujitsu, Honeywell |
Based on Technology
The vibration technology segment accounted for the largest revenue share of around 33% in 2021. During the forecast period, the light energy Harvesting segment is expected to generate larger income. A lot of companies are engaged in the production of solar energy based products.
The market for the light energy harvesting segment is rising due to the manufacturing of solar based products along with the increasing efficiency of the photovoltaic cells. The naturally and easily available source of energy is the solar energy, which can be easily converted into electricity. The second largest share of the market will be held by the vibration energy harvesting system, due to the use of piezoelectric devices in various applications in the sector of transportation and industry.
Based on Components
The sensor component segment accounted revenue share of 35% in 2021. The Transducer segment has had a larger market share until now and it is expected to grow during the forecast. The energy harvesting transducer segment is driving the demand of the global market. It is due to the growth in usage of electromechanical transducers to harvest vibration energy.
Based on Application
The industrial segment hit largest revenue share of around 31% in 2021. The home automation and building market is anticipated to grow during the forecast. Home automation does not require hard wiring. As there is no disposal of batteries that minimizes the maintenance and the environmental impact to use of energy harvesting systems. In wearable watches, which comes under the domain of consumer electronics is also a very good opportunity. It will help in monitoring the activity of the person and also to manage the health.
Based on Geography
The largest market for this sector is North American region, due to rapid technological developments in the field of energy harvesting and building in home automation investments. There is a boost in this technology in North America. The current technological advancements in North American region have become a very important factor for the growth of this technology for building and home automation investments. The maximum amount of revenue was generated in United States, due to a flourishing industrial and transportation sector.
The market is expected to grow substantially because of low operational and labor cost, many industry players are thinking of changing their manufacturing facilities and locating them in Asia Pacific market is expected to grow owing to the techno savvy population and high purchasing power.
Key Market Developments
Key Market Players
Segments Covered in the report
(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)
By Technology
By Components
By Application
By Vibration Technology
By End-use System
By Energy Source
By Geography
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