According to TMR, the worldwide thermoelectric modules market is highly concentrated, with only a few firms taking the lead, including Marlow Industries, Ferrotec Corp., KELK Ltd., and Laird Technologies Inc. To remain competitive, prominent corporations are progressively focused on innovations and enhancements of thermoelectric systems already in their portfolios.
Another important technique used by top thermoelectric module producers to obtain a competitive edge is worldwide market penetration through mergers, acquisitions, and partnerships. Laird Technologies, for example, recently bought Nextreme Thermal Solutions, a thin film thermoelectric module manufacturer headquartered in the United States.
The launch of a variety of sophisticated as well as cost-effective thermoelectric systems in the near future is expected to increase rivalry amongst these businesses. To enhance their positions, manufacturers will need to turn their attention to the scalability and configurability of thermoelectric modules in order to appeal to a wide range of industrial applications. Advances in their in-house manufacturing skills will assist these firms in the long term, resulting in low-cost production of thermoelectric assemblies and other thermoelectric devices.