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Thermoelectric Cooler Market to Surpass US$ 1548.34 Million by 2032 as Trend for Miniaturized Electronic Devices Gains Traction

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The global thermoelectric cooler market size is projected to reach US$ 672.31 Million in 2022 and exhibit growth at a CAGR of 8.7% in the forecast period (2022-2032). As per the report, the global thermoelectric market is expected to be valued at US$ 1548.34 Million in 2032.

Increasing adoption of thermoelectric coolers in medical devices and laboratory instruments is expected to drive growth over the next ten years. Growing demand for more advanced medical devices has further increased the need for thermal management technology, which has led to surging usage of thermoelectric coolers in the medical industry.

Thermoelectric coolers are used as a type of heat sink to manage temperature fluctuations. These fluctuations occur due to the different power requirements from various components inside a medical device such as microprocessors and sensors.

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Medical devices and laboratories need efficient cooling systems with long-term reliability. For this reason, thermoelectric coolers have been increasingly adopted by the medical industry for their ability to provide highly reliable temperature control at low cost.

Moreover, rising use of thermoelectric coolers in consumer electronics such as laptops, tablets, and smartphones is anticipated to push growth in the global market. Thermoelectric coolers will continue to become more prevalent in electronics as they continue to evolve into miniaturized devices. Even though there are different types of cooling technologies available today, thermoelectric coolers offer competitive advantages in terms of power consumption, size, weight, reliability, and price, which make them an attractive option for various companies.

By model, the multi-stage cooler segment is estimated to dominate the global thermoelectric cooler market in the evaluation period. Multi-stage coolers provide improved cooling capabilities than single-stage coolers, while retaining the benefits of solid-state cooling.

They can transfer more heat than single-stage thermoelectric coolers. They are utilized in a wide variety of industries, including telecommunication, consumer goods, healthcare, and automotive.

Regionally, Asia Pacific is expected to account for a sizable revenue share of the global thermoelectric cooler market. Due to low labor costs and rising demand for thermoelectric coolers from the fast-growing semiconductor sector, the cost of production in this region has decreased in the past few years. China and India are anticipated to contribute significantly to the rising demand for thermoelectric coolers in the Asia Pacific region.

Key Takeaways:

  • Asia Pacific is predicted to become the largest market for thermoelectric coolers during the forecast period.
  • In terms of end-user industry, the automotive category is likely to generate a lion’s share in the thermoelectric cooler market during the evaluation period.
  • Based on model, the multi-stage cooler segment is expected to hold the highest share in the thermoelectric cooler market between 2022-2032.
  • In Asia PacificJapan thermoelectric cooler market is set to remain at the forefront on the back of technological advancements during the anticipated period.
  • The market for thermoelectric coolers in North America is projected to create an absolute dollar opportunity during the projected period.

Growth Drivers:

  • Growing need for thermoelectric coolers in the automobile industry to cool electrical components and batteries will drive market expansion.
  • Rising demand for thermoelectric coolers from the telecommunications industry for usage in data centers and telecom equipment would push the market.
  • Increasing demand for thermoelectric coolers in the military and defense industry for usage in portable electronics will drive the market.

Restraints:

  • Thermoelectric coolers are not very energy efficient and they need 3 to 5 amps of current 12V to remain cold.
  • Thermoelectric coolers are not temperature controlled and this can make them either too cold or too warm, which may hamper sales.

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Competitive Landscape:

Key players in the global thermoelectric cooler have adopted various strategies such as new product launches, collaborations, and mergers & acquisitions to offer a wide variety of products and services to customers and increase their market share.

For instance,

  • In July 2021, Phononic bagged a growth investment led by US$ 50 Million from Sachs Asset Management’s sustainable investing company. Phononic seeks to increase investment in its sales and marketing, high-volume production capabilities domestically and abroad, as well as platform and product line for cooling and refrigeration.
  • In August 2020, to provide active cooling in high-temperature situations for autonomous systems, machine vision, digital light processors, and optical transceivers, Laird Thermal System introduced its Hi-Temp ETX Series thermoelectric coolers.

Key Companies Profiled by Fact.MR

  • Ferrotec Corporation
  • Applied Thermoelectric Solutions LLC
  • Adcol Electronics
  • Beijing Huimao Cooling Co., Ltd.
  • AMS Technologies
  • Analog Technologies

More Valuable Insights on Thermoelectric Cooler Market

In the latest study, Fact.MR offers a detailed study on the global thermoelectric cooler market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of thermoelectric cooler through detailed segmentation as follows:

By Model:

  • Single Stage
  • Multi-Stage

By Design:

  • Special Design
  • Standard Design

By End-User Industry:

  • Consumer Electronics
  • Telecommunications
  • Automotive
  • Others

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • MEA

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Key Questions Covered in the Thermoelectric Cooler Market Report

  • What is the projected value of the thermoelectric cooler market in 2022?
  • At what rate will the global thermoelectric cooler market grow until 2032?
  • Which are the factors hampering the growth in the thermoelectric cooler market?
  • Which region is expected to lead in the global thermoelectric cooler market during 2022-2032?
  • Which are the factors driving the thermoelectric cooler market during the forecast period?
  • What is the expected market value of the thermoelectric cooler market during the forecast period?

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Laser Processing Market: The global laser processing market is projected to be valued at US$ 33 Billion by the end of 2032 and showcase considerable growth at a CAGR of 7.5% in the forecast period from 2022 to 2032. Increasing use of laser processing technology in the packaging, aerospace & defense, telecommunications, medical, and architecture for heat treatments, punching, scribing, and cutting is estimated to augment the market.

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Artificial Intelligence

THE 2024 GLOBAL EXPLORATION SUMMIT IS ANNOUNCED AT THE 120th EXPLORERS CLUB ANNUAL GALA IN NEW YORK

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Porto and Terceira Island to Host the ‘Davos of Exploration’ – The GLEX Summit
NEW YORK, April 24, 2024 /PRNewswire/ — The Explorers Club and Expanding World, are thrilled to announce the fifth edition of The GLEX Summit, known as the ‘Davos of Exploration,’ set to take place from June 15 to 19 on Porto city and Terceira Island in the Azores, Portugal.

This year, Porto will Ignite the summit, followed by two days of discussions and exploration in the historic city of Angra do Heroísmo on Terceira Island. From the depths of the oceans to new space missions, the power and future of exploration will be explored in these two World Heritage cities, deeply connected to the history of exploration.
The 2024 GLEX Summit will revolve around the latest discoveries and groundbreaking missions shaping the future of our planet. Highlights of the summit include the Artemis mission, which plans to send astronauts back to the moon for the first time since 1972, and the role of Space and the Oceans in researching and mitigating the effects of climate change. Notable sessions will also delve into the unfortunate incident of the submersible implosion that took place on Titan and the recording of an episode of the BBC’s acclaimed science comedy show ‘The Infinite Monkey Cage,’ hosted by physicist Brian Cox and comedian Robin Ince.
This prestigious event will bring together over three dozen explorer and scientist legends from around the world. Confirmed physicist and researcher Brian Cox, NASA Chief Scientist James Garvin, Aquanaut Fabien Cousteau, Oceanographer David Gallo, Cosmonaut Mike Massimino, Nasa ISS CapCom Tess Caswell, among many others global Explorers and Scientists.
For further inquiries about The GLEX Summit and press accreditation, please contact:
Marco Barbosa [email protected], +351917345744
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Hillstone Networks is Named in Microsegmentation Solutions Landscape Report

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Hillstone Networks delivers advanced Microsegmentation across different verticals.. 
SANTA CLARA, Calif., April 24, 2024 /PRNewswire/ — Hillstone Networks, a leading provider of cybersecurity solutions, has been included in the Forrester Microsegmentation Solutions Landscape, Q2 2024 report. The report offers an overview of the Microsegmentation market, focused on the vendors who deliver solutions for protection of critical resources, combating ransomware, and contributing to compliance adherence. The report provides security professionals a snapshot of these named vendors, considering factors such as size, geographic focus, and use cases to select the most suitable option for their targeted use cases or needs. 

In the Landscape Report, Forrester states that “Zero Trust is all about replacing bodies of implicit trust with explicit policy. In physical and virtual networks, the application of this principle is referred to as microsegmentation…. [It] was one of the first true Zero Trust technologies developed after Forrester published the initial Zero Trust reports.”  
Forrester states in the report that the main trend is “organizations are finally getting serious about Zero Trust. Some, proactively, are implementing microsegmentation as part of a Zero Trust strategy or initiative. Others are implementing it because they got hit by ransomware and are trying to avoid it again. But all of them are doing Zero Trust with microsegmentation.”
“Being recognized as a vendor in the Microsegmentation solution landscape underscores for us the pivotal role our technology plays in safeguarding critical assets and thwarting ransomware threats. We believe it reaffirms our commitment to providing cutting-edge security measures built on an innovative and AI-powered platform that help our customers defend against evolving cyber risks, ensuring resilience and trust,” states Tim Liu, CTO and Co-founder at Hillstone Networks.
Hillstone’s Microsegmentation solution provides the following key benefits:
Advanced and extensive Microsegmentation for physical servers, virtual machines, cloud hosts, and containers, seamlessly compatible with multiple platforms.Comprehensive, integrated Layer 4 to 7 security and malware features (Next Generation Firewall, Intrusion Prevention System, AntiVirus, URL filtering, DDoS, and bot defense), and complete vulnerability management across the entire application lifecycle.Distributed architecture for easy scaling and portability.Centralized and comprehensive visibility to reduce gaps in the threat surface.Learn more about Hillstone Networks solutions here.
About Hillstone Networks
Hillstone Networks’ Integrative Cybersecurity approach is based on a visionary, AI-powered, and accessible platform, delivering coverage, control, and consolidation to secure over 28,000 global enterprises.
Media ContactZeyao Hu+1 [email protected]
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Tetra Pharm Technologies and Glysious Announce Collaboration to Develop Transdermal Combination Drugs Targeting the Endocannabinoid System

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The collaboration brings together Tetra Pharm Technologies’ expertise in enabling technology with Glysious’ proprietary transdermal drug delivery system, renowned for its effectiveness, comfort, and convenience.
COPENHAGEN, Denmark, April 24, 2024 /PRNewswire/ — Tetra Pharm Technologies and Glysious are pleased to announce a strategic collaboration aimed at developing a ground-breaking transdermal drug delivery system complementing several of Tetra Pharm Technologies’ pipeline candidates. The joint invention aims to revolutionize transdermal release of “difficult-to-formulate” compounds targeting the endocannabinoid system.

Tetra Pharm Technologies has focused intensively on formulation expertise, that is, how the molecules are effectively integrated with a drug delivery system to reach their desired targets. Glysious has worked rigorously on the development of an adhesive patch for transdermal drug delivery since the company’s incorporation in 2020.
“The Glysious technology enables precision, sustained dosing, and allows for a high drug load and effective emptying of patches. The transdermal patches remain in place and are very comfortable and convenient to use, resulting in improved patient compliance. However, we have identified challenges with standard formulation strategies, not providing acceptable drug release due to shortcomings of the formulation matrix”, says Professor, Dr.Techn. Anne Ladegaard Skov, Chief Scientific Officer, Glysious.
Back in 2023 Glysious and Tetra Pharm Technologies performed early in-vitro feasibility tests, integrating Tetra Pharma Technologies’ proprietary enabling technology for delivery of poorly soluble compounds with Glysious’ patch.
Dr. Morten Allesø, Chief Scientific Officer, Tetra Pharm Technologies, adds: “Although both parties were aware of the uniqueness of our respective technologies, we were positively surprised to find a five-fold increase in performance of our combination product compared to conventional formulation technologies. This is truly remarkable, and we consider it our shared obligation to further advance this technology to the benefit of the patients.”
The objectives of the collaboration include conducting comprehensive in-vitro and in-vivo studies to evaluate the performance and efficacy of the combined drug delivery system. Additionally, Tetra Pharm Technologies and Glysious plan to pursue a common patent for the joint invention, ensuring that their innovative technology remains protected and exclusive.
“We are excited to collaborate with the innovative team in Tetra Pharm Technologies on this transdermal drug delivery system paving the way for commercialization and scaling of the Glysious technology within the pharma segment”, says Stina Bjerg Nielsen, Chief Executive Officer, Glysious.
Martin Rose, Chief Executive Officer, Tetra Pharm Technologies, concludes: “The collaboration represents a unique opportunity to harness the synergies between our respective technologies. By combining our expertise, we aim to develop a transdermal drug delivery system that offers superior efficacy, convenience, and patient compliance, supporting several of our pipeline programs”.
As part of the collaboration, the partners will exchange expertise, knowledge, and resources. In addition, Tetra Pharm Technologies and Glysious will conduct joint research, experiments, and tests as required for the development of a joint patent. The scope of the collaboration is focused on disease indications such as pain, sleep disorders, and appetite regulation.
About Tetra Pharm Technologies
Tetra Pharm Technologies is a Danish biopharmaceutical company established in 2018 with a vision to be a leader in research and development of pharmaceutical drugs for the treatment of diseases related to the endocannabinoid system. For more information, please visit www.tetrapharm.eu
About Glysious
Glysious is a Danish medtech company, incorporated in 2020, that develops patches, creams, spray, and foams with controlled release of active ingredients for cosmetics and life science applications. For more information, please visit www.glysious.com
For further informationJacob SchlundtChief Marketing OfficerTetra Pharm [email protected]+45 51976225
Stina Bjerg NielsenChief Executive [email protected]+45 3053 5393
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