Energy Harvesting Technologies Become Increasingly Mature with Countless Application Possibilities
LONDON, April 20, 2016 /PRNewswire/ --
Thursday, 28th April, 2016 at 3:00 pm BST
Online, with Complimentary Registration
Frost & Sullivan Consultant Maximilian-Eckart Wernicke and Frost & Sullivan Principal Consultant Jonathan Robinson
The possibilities for energy harvesting solutions are multiple – it is applicable to almost any everyday object that requires electricity. As a result, the energy harvesting market will grow by nearly 900 percent over the next 15 years. The most promising application markets for energy harvesters will be industrial process control and monitoring as well as building technologies. Accounting for 61 percent of the total market between 2015 and 2030, those will be the first market segments to see a widespread adoption of energy harvesting.
Powering all of today's electric and electronic devices from line power is cost-prohibitive given the large cost of laying cable and wires. The power of batteries on the other hand is limited. They are replaced by the thousands every day, creating unsustainable maintenance conditions. The energy-efficient wireless and battery-free nature of energy harvesting applications on the contrary means easy installation in new and existing buildings or industrial facilities. In the near future the cost of the hybrid energy harvesting device is expected to be economical. In many situations, energy harvesting technologies will be complimentary to battery storage solutions. However, in the longer-term, energy harvesting will pose a direct challenge to the battery market.
"Rapid growth in IT hardware and electronics represent tremendous growth opportunities for energy harvesting," states Maximilian-Eckart Wernicke. "The industry needs to develop its various possibilities and look into all different options to develop alternatively powered energy harvesters." The most advanced solutions at present are thermoelectric harvesters that transform temperature differentials into electric current and electromagnetic solutions that make use of magnetic induction. Companies are also interested in exploring multi-source energy harvesting devices that can harness ambient energy from various sources.
As considerable investment in R&D continues, technology solutions can be expected to improve in the next 15 years. The amount of electric devices has already risen significantly during the past decades, but is still far from an all-time high. The global energy harvesting market will be worth US$12.55 billion by 2030, with the United States, Japan, the Middle East and Western Europe as key growth markets.
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