The Market Reports

Synopsis
The global market for Peltier Cooling Modules was estimated to be worth US$ 870 million in 2024 and is forecast to a readjusted size of US$ 1552 million by 2031 with a CAGR of 8.8% during the forecast period 2025-2031.
Peltier Cooling Modules, also known as thermoelectric coolers (TECs), are solid-state devices that utilize the Peltier effect to transfer heat between two surfaces when an electric current is applied. They consist of multiple pairs of p-type and n-type semiconductor materials connected electrically in series and thermally in parallel. When a DC current passes through the module, one side absorbs heat (cooling side), while the other side releases heat (heating side). This allows for precise temperature control without moving parts, making them compact, reliable, and quiet.
The history of Peltier Cooling Modules can be traced back to the discovery of the Peltier effect in the 19th century, but it was not until the mid-20th century, with the development of semiconductor materials, that Peltier Cooling Modules technology was truly commercialized. Early Peltier Cooling Modules were mainly used in the military and aerospace fields. After the 1980s, with the rapid development of the electronics industry, Peltier Cooling Modules gradually entered the consumer electronics, medical equipment and industrial fields.
Peltier Cooling Modules work based on the Peltier effect. When current passes through a thermocouple composed of p-type and n-type semiconductor materials, one end absorbs heat (cold end) and the other end releases heat (hot end), thereby achieving the effect of cooling or heating. This solid-state thermal management technology does not require mechanical moving parts and has the characteristics of compact structure, no noise, high reliability, and precise temperature control. In addition, by reversing the direction of the current, Peltier Cooling Modules can also achieve a heating function, which gives it a unique advantage in bidirectional temperature control applications. The core advantage of Peltier Cooling Modules lies in their solid-state design and precise temperature control capabilities, but their efficiency is relatively low and they are usually used in low-power or high-space and noise requirements.
With the popularization of technologies such as 5G communications, artificial intelligence, and the Internet of Things, the development of Peltier Cooling Modules in consumer electronics, communications, automobiles, and medical fields has been accelerated. According to our data, the global shipment of Peltier Cooling Modules will exceed 250 million units in 2024, and it is expected to continue to grow at an average annual compound growth rate (CAGR) of more than 10% by 2030.
North America, Europe, and Asia Pacific are the main regions of the Peltier Cooling Modules market. The North American market benefits from strong demand for the electronics industry and medical technology, while the European market focuses on environmental protection and sustainable development. The Asia-Pacific region (especially China, Japan, and South Korea) has become the fastest growing region in the global Peltier Cooling Modules market with its rapidly developing electronics manufacturing and new energy vehicle industries. In 2024, the market size of the Asia-Pacific region will be nearly US$500 million, accounting for more than 50% of the world, of which China occupies the largest consumer market in Asia-Pacific.
From the perspective of industry participants, the main players in Peltier Cooling Modules include Ferrotec, KELK Ltd. (Komatsu), Coherent Corp (formerly II-VI Incorporated), Laird Thermal Systems, Z-MAX, KJLP, Thermion Company, Phononic, Guangdong Fuxin Technology, KYOCERA, Thermonamic Electronics, TE Technology, Same Sky (formerly CUI Devices), Kryotherm Industries, Crystal Ltd, Merit Technology Group, Wakefield Thermal, etc. The leading manufacturers are mainly concentrated in Japan, Europe and the United States. According to our data, the revenue share of the world's top 5 manufacturers in 2024 is about 55%, among which Ferrotec, ranked first, has a share of more than 20%. Due to the late start in China, most of the products are concentrated in the field of consumer electronics, and there is a certain gap between the technology and management level and the world's advanced level. Therefore, the high-end application fields such as communications, medical, and automotive markets are mainly occupied by international leading manufacturers.
From the perspective of downstream applications, shipments in consumer electronics, communications, medical, automotive, industrial, defense and aerospace and other fields have continued to rise. Among them, consumer electronics still occupies the largest consumer market. In 2024, the consumer electronics market size accounted for 25% of the world. With the rapid penetration of 5G communications and electric vehicles, the communications and automotive fields will show a higher growth rate during the forecast period.
This report aims to provide a comprehensive presentation of the global market for Peltier Cooling Modules, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Peltier Cooling Modules by region & country, by Type, and by Application.
The Peltier Cooling Modules market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Peltier Cooling Modules.
Market Segmentation
By Company
Ferrotec
KELK Ltd.(Komatsu)
Coherent Corp (formerly II-VI Incorporated)
Laird Thermal Systems
Z-MAX
KJLP
Thermion Company
Phononic
Guangdong Fuxin Technology
KYOCERA
Thermonamic Electronics
TE Technology
Same Sky (formerly CUI Devices)
Kryotherm Industries
Crystal Ltd
Merit Technology Group
Wakefield Thermal
Pelonis Technologies
Zhejiang Wangu Semiconductor
P&N Technology
JiangXi Arctic Industrial
Henan Hongchang Electronic
Wei County Zhongtian Electron Stock Cooperative
Beijing Xinyu Kaimeng Electronic Technology
Beijing Huimao Refrigeration Equipment
Hangzhou Aurin Cooling Device
Segment by Type
Single-stage Type
Multi-stage Type
Segment by Application
Consumer Electronics
Communication
Medical
Automotive
Industrial
Aerospace Defense
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Peltier Cooling Modules manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Peltier Cooling Modules in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Peltier Cooling Modules in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index