The global energy harvesting market is projected to reach US$ 974.4 million from US$ 268.6 in 20015 with a robust CAGR of 19.6% during 2016-2022

This is joined with growing governmental support for the energy harvesting and energy storage technology is expected to drive the market in the future years. Lack of awareness about energy harvesting concept along with its high initial cost may hinder the growth in the global energy harvesting market. Many growth opportunities exist in the market with advances of nanotechnology. Nanotechnology reduces the size of energy harvesting devices and makes it portable.

Energy harvesting method is used to power products so that they do not need electrical batteries for their utility. Energy harvesting devices utilize immediate surroundings sources of energy and can alter mechanical, thermal and electromagnetic energy into reusable and storable energy. While energy harvesting technology by now powers objects such as cell phones, in due course, the technology will be able to power bigger facilities such as buildings and even moveable health equipment. Energy harvesting decreases dependence on battery power and harvests free source of energy. This is joined with growing governmental support for the energy harvesting and energy storage technology is expected to drive the market in the future years. Lack of awareness about energy harvesting concept along with its high initial cost may hinder the growth in the global energy harvesting market. Many growth opportunities exist in the market with advances of nanotechnology. Nanotechnology reduces the size of energy harvesting devices and makes it portable.
The Europe region is projected to hold the largest market share and witness highest growth in future years:
The energy harvesting system market in the Europe is estimated to hold the highest share of the global market by 2022 due to the increasing applications in building & home automation, need for green energy source, industrial wireless sensor networking, government initiatives, and demand for secure and robust power sources worldwide. The UK and Germany are projected to be the promising markets in Europe region.
Building and home automation application estimated to lead the global energy harvesting system market:
The building and home automation application is among the early acceptors of energy harvesting systems for giving power to wireless sensor network in buildings and to control the home electronics mechanically. The application of energy harvesting system is growing in building automation for controlling lighting systems, security systems, and inside environment control systems. The market for the industrial application of the energy harvesting system is projected to view important growth in the future years. The players in the energy harvesting system targeting the manufacturing segment for applications in wireless sensor network such as heat sensor, level sensor force sensor, flow sensor, occupancy sensor, and weather sensor.
Light energy harvesting technology leads the global energy harvesting system market:
Light energy harvesting technology held a large market share of the energy harvesting market in 2015. It uses UV light, solar energy, indoor light to produce electricity and deliver power to minimum used power electronics devices or for storage in batteries. The large quantity of solar energy enables market players to explore more on solar-powered products with higher power competence.


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Keywords : Energy, Non-Renewable, Conventional Energy,

by Occams Business Research (a month ago!)

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