Increasing Awareness about the Environment to Drive Micro-energy Harvesting System Market Towards US$ 788.5 Million Valuation by 2034, Growing at 11.9% CAGR

Growing focus on sustainability and energy efficiency along with the rising demand for sustainable power solutions across several sectors are expected to drive the micro energy harvesting industry.

NEWARK, Del, April 03, 2024 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the global micro-energy harvesting system market is anticipated to rise at 11.9% CAGR. The market is expected to increase from US$ 256.2 Million in 2024 to US$ 788.5 Million in 2034.

The growing utilization of energy harvesting technology and home automation applications is expected to propel the market’s growth. The green energy harvesting trend is significantly shaping the market, and its expansion is being aided by policies that governments worldwide support.

Industrial wireless sensor networks (WSNs) are predicted to continue using energy harvesting through the forecast period. Growing applications of the Internet of Things (IoT) in machine-to-machine (M2M) communications, smart homes, smart cities, and Industrial IoT (IIoT) are expected to surge demand for micro-energy harvesting systems.

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Growing emphasis on environmental sustainability and energy efficiency encourages using micro-energy harvesting system systems to replace traditional power sources. The market is further expected to expand due to factors such as increased research & development, government funding, greenhouse gas emission reduction targets, rising energy consumption, and environmental awareness.

“The proliferation of IoT devices and smart systems creates several prospects for micro-energy harvesting system applications. As the number of connected devices increases worldwide, there is a greater demand for small, autonomous power solutions to support their operations, driving demand for micro-energy harvesting systems,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Key Takeaways from the Report:

  • The global market for micro-energy harvesting systems is anticipated to reach US$ 788.5 Million by 2034.
  • The global market for micro-energy harvesting systems is projected to thrive at 11.90% CAGR through 2034.
  • By technology, the light energy harvesting segment is expected to grow at 9.2% CAGR by 2034.
  • By end-use, the consumer electronics segment is projected to thrive at a 9.1% CAGR through 2034.
  • The United States is projected to thrive at a 7.1% CAGR by 2034.

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Competitive Landscape:

The global micro-energy harvesting system market is fragmented, with leading players accounting for around 25% to 30% share.

Key Companies Profiled:

  • Linde
  • Air Products
  • Plug Power
  • BP
  • Siemens
  • Lhyfe
  • First Micro-Energy Harvesting System
  • AMEA Power
  • Bloom Energy Corp
  • Air Liquide
  • Adani Green Energy
  • Shell PLC
  • Worthington Industries
  • Cryolor
  • Reliance Industry
  • Chart Industries
  • BayoTech
  • Micro-Energy Harvesting Systemics
  • Cummins
  • Sinopec

Key micro-energy harvesting system companies invest in continuous research to produce new products and increase their production capacity to meet end-user demand. They are also inclined toward adopting strategies to strengthen their footprint, including acquisitions, partnerships, mergers, and facility expansions.

Recent Developments:

  • In February 2024, Enphase launched a microinverter for building-integrated photovoltaics. This new product allows efficient energy harvesting from small solar panels integrated into building materials.
  • In February 2024, Ambient Micro raised US$ 5 Million for radio frequency energy harvesting. This company is developing technology to harvest energy from ambient radio waves to power small electronics.

More Insights into the Micro-energy Harvesting System Market Report:

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global micro-energy harvesting system market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034.

To understand the global market potential, growth, and scope, the market is segmented based on technology (light energy harvesting, vibration energy harvesting, EM & RF energy harvesting, thermal energy harvesting, magnetic energy harvesting, electric energy harvesting, and others), power density (15 m W/cm3, 330 µ W/cm3, 116 µ W/cm3, 40 µ W/cm3, 960 n W/cm3), end-use (building & home automation, consumer electronics, industrial, transportation, healthcare, security, others), and region.

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Micro-energy Harvesting System Market Segmentation Analysis:

By Technology:

  • Light Energy Harvesting
  • Vibration Energy Harvesting
  • EM & RF Energy Harvesting
  • Thermal Energy Harvesting
  • Magnetic Energy Harvesting
  • Electric Energy Harvesting
  • Others

By Power Density:

  • 15 m W/cm3
  • 330 µ W/cm3
  • 116 µ W/cm3
  • 40 µ W/cm3
  • 960 n W/cm3

By End-use:

  • Building & Home Automation
  • Consumer Electronics
  • Industrial
  • Transportation
  • Healthcare
  • Security
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa

About the Industrial Automation Division at Future Market Insights (FMI)

The industrial automation division of Future Market Insights (FMI) offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

Author by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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About Future Market Insights (FMI):

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA, and India. FMI’s latest market research reports and market analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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