Energy harvesting systems help power small electronic devices and sensors by scavenging ambient radio frequency (RF) energy from sources like radio towers, Wi-Fi networks, and other electromagnetic fields without using batteries. These systems draw power from vibration, thermal gradients, and kinetic motion to provide electricity from randomly available ambient sources and are increasingly being used in electric vehicles, with devices like thermoelectric generators and RF antennas to charge EV batteries. The global Energy Harvesting Systems Market involves energy harvesting modules, power management units, and storage devices majorly used in electric vehicles and wearable electronics to power small devices efficiently.
The global Energy Harvesting Systems Market is estimated to be valued at US$ 571.46 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
With the push for greener transportation, EV sales are expected to increase significantly over the coming years. Energy harvesting technology plays a pivotal role in improving the driving range of EVs by harvesting thermal, solar, and kinetic energy from the surroundings. Systems like thermoelectric generators installed on electric car brakes can harvest heat dissipated during braking and convert it into usable electricity, extending the vehicle's driving range without plugging into a charging station. This boosts EV adoption further and drives demand for advanced energy harvesting solutions in electric mobility.
Segment Analysis
The global energy harvesting systems market size is segmented into technology, component, application, and region. Based on technology, the piezoelectric energy harvesting segment dominated the market in 2024 and accounted for around 30% market share. This is owing to its widespread use for powering wireless sensor networks in civil structural health monitoring, machinery vibration monitoring, and other applications.
Key Takeaways
The global energy harvesting systems market is expected to witness high growth during the forecast period of 2023 to 2030. The global Energy Harvesting Systems Market is estimated to be valued at US$ 571.46 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030.
Regional analysis:
North America region accounted for around 35% of the global energy harvesting systems market share in 2024 and is expected to grow at a CAGR of 18% during the forecast period. This is attributed to considerable investments in research and development of new technologies by government and private organizations in countries like the US and Canada.
Key players:
Key players operating in the energy harvesting systems market are Canopy Growth Corporation, Aurora Cannabis Inc., Tikun Olam, Cannabis Science Inc., Aphria Inc., Maricann Group Inc., Tilray Inc., VIVO Cannabis Inc., Medical Marijuana, Inc., STENOCARE, Cronos Group Inc., Terra Tech Corp., MedMen, Teva Pharmaceutical Industries Ltd., and Organigram Holdings Inc.
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