Energy Harvesting Market Size was valued at USD 0.56 billion in 2023. The Energy Harvesting market industry is projected to grow from USD 0.62 Billion in 2024 to USD 1.32 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.83% during the forecast period (2024 - 2032). Good government support, new product launches, and R&D Amongst major key players are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The development of the Internet of Things (IoT) drives the need for autonomously powered, maintenance-free wireless equipment. A wireless sensor network (WSN) is the core technology in designing lot systems. LoT offers an opportunity for automation applications such as lighting controls, building management systems, security and access, and fire and life safety. In the next few years, using lot, millions of things are likely to be connected permanently. This creates the need for enormous data collection and processing, which, in turn, demands intense automation. The sensor network is the most suitable data-collecting system for loT. Intel reported that loT technology was worth around USD 5.2 trillion globally in 2019, where healthcare and manufacturing were expected to share USD 2.5 trillion and USD 2.3 trillion, respectively. This factor increases the market CAGR in the forecast period.
Additionally, the market is growing for durable systems that are power efficient and safe, requiring much less maintenance. There is a rise in the adoption of wireless sensor networks due to house automation and the green technology adopted by various nations. There needs to be environmental energy. The systems that help capture this energy and convert it to electrical energy are a boon. Various research and development activities in the energy harvesting system are leading to the growth of this market: supportive government policies and increased environmental awareness. Also, the reduction in the emission of greenhouse gases has helped in raising the demand for such technologies. An increasing trend of using renewable resources across many nations has created a need to improve this technology. This technology is a boon to supplement the primary source of power to reduce power interruptions and increase the reliability of an electronic system. The availability of funds for innovative technologies through organizations and investors aids in fast-tracking the process of new product development. Further, it provides a better opportunity for new product developers to enter the market with their innovative products. These factors have driven the market to develop innovative energy harvesting systems, which will further boost the Energy Harvesting market revenuein the forecast period.
Based on energy sources, the Energy Harvesting market segmentation includes chemicals, mechanicals, electrical, and nuclear. The electric segment dominated the market because electrical energy harvesting technologies have many applications and can be used in various fields such as consumer electronics, healthcare, and industrial automation. Reducing greenhouse gas emissions has helped raise the demand for such technologies.
September 2022: E-Peas SA and Energous Corporation announced the launch of a new Wireless Energy Harvesting Evaluation Kit, developed for energy harvesting applications for smart buildings/smart homes, industrial IoT medical, and asset trackers for retail and warehouses. The kit includes the company's 1W WattUp PowerBridge transmitter, delivering an over-the-air solution that enables device manufacturers to implement wireless power and energy harvesting across a range of connected devices along with two evaluation boards from e-peas: the AEM30940 RF Evaluation Board and the EP112 Energy Harvesting Optimized Antenna Evaluation Board.
May 2021: A range of transmitter modules for battery-free switch appliances was presented by EnOcean named PTM 535BZ. The first module offers a combination of supported wireless standards in a 2.4 GHz radio band.
Based on technology sources, the Energy Harvesting market segmentation includes electrodynamics, photovoltaic, and thermoelectric. The photovoltaic segment dominated the market. This is due to the manufacturing of solar-based products along with the increasing efficiency of photovoltaic technology and the use of photovoltaic technology in various applications in the sector of transportation and industry.
Figure 1: Energy Harvesting Market, by Technology, 2024 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on Application, the Energy Harvesting market segmentation includes consumer electronics, industrial, automotive, and healthcare. The consumer electronics and building and home automation segments have witnessed significant market growth owing to increased energy conservation awareness. The increasing adoption of renewable energy sources such as solar, wind, tidal, ocean, and others is the key factor driving the growth of the energy harvesting system market. Government support to reduce carbon footprints and increased adoption of home appliances are also driving the growth of the energy harvesting system market. The high upfront cost indulged in the manufacturing of the energy harvesting systems acts as a key market restraint for the energy harvesting system market. Also, the lack of consumer awareness and technical expertise regarding energy harvesting systems hinders the growth of the energy harvesting system market.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American energy harvesting market area will dominate due to rapid technological developments in energy harvesting. The growth of this technology for the building will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Energy Harvesting Market Share By Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Energy Harvesting market accounts for the second-largest market share due to the new product launches and R&D among key players. Further, the German Energy Harvesting market held the largest market share, and the UK Energy Harvesting market was the fastest-growing market in the European Region.
The Asia-Pacific Energy Harvesting Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the techno-savvy population and high purchasing power. The Internet of Things has spread across the Region from smart grids to smart homes/buildings. The increasing implementation of the Internet of Things-enabled technology to meet the infrastructure and supply challenges leads to the growth of smart cities, boosting the market across the Region. Moreover, China’s Energy Harvesting market held the largest market share, and the Indian Energy Harvesting market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Energy Harvesting market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The energy harvesting industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Energy Harvesting industry to benefit clients and increase the market sector. The Energy Harvesting industry has offered some of the most significant medical advantages in recent years. Major players in the Energy Harvesting market, including Levant Power Corporation (U.S.), Honeywell International, Inc. (U.S.), Green Peak Technologies (Netherlands), Fujitsu (Japan), ABB Limited (Switzerland), Arveni (France), Enocean (Germany), Microchip Technology, Inc., (U.S.), Texas Instruments Inc. (U.S.), ST Microelectronics (Switzerland)., and others, are attempting to increase market demand by investing in research and development operations.
EnOcean technology is an energy-harvesting wireless technology used primarily in building automation systems and other application fields such as industry, transportation, logistics, or smart home solutions. EnOcean presented the PTM 535BZ module, the latest addition to its range of transmitter modules for battery-free switch applications. In addition to the already established PTM 535 for the EnOcean wireless standard and PTM 535Z for Zigbee applications, PTM 535BZ is the first module that offers a combination of supported wireless standards in the 2.4 GHz radio band.
STMicroelectronics N.V., commonly referred to as ST or STMicro, is a Dutch multinational corporation and technology company of French-Italian origin headquartered in Plan-les-Ouates near Geneva, Switzerland, and listed on the French stock market.STMicroelectronics announced a new generation of extreme power-saving microcontrollers (MCUs), the STM32U5 series, to meet the most demanding power/performance requirements for smart applications, including wearables, personal medical devices, home automation, and industrial sensors.
In September 2022, E-Peas SA and Energous Corporation announced a new product launch in the form of a Wireless Energy Harvesting Evaluation Kit that is intended for use in smart buildings/smart homes, industrial IoT medicals, and asset trackers for retail and warehouses. The kit includes the firm’s 1W WattUp PowerBridge transmitter that offers an over-the-air solution allowing manufacturers to incorporate wireless power as well as energy harvesting into various connected devices and two e-peas evaluation boards: AEM30940 RF Evaluation Board and EP112 Energy Harvesting Optimized Antenna Evaluation Board.
Powercast Corporation announced that it had shipped about 10 million wireless RF Powerharvester PCC110 chips over the past two years by March 2022. This feat has been attributed to the growing demand for wireless power-over-distance gadgets that liberate them from cables, batteries, and positioning constraints like having to be directly in contact with a charging surface stipulated by the Qi wireless charging standard. Through Powercast's technology, untethered devices can be powered remotely (up to 80 feet away), reducing or eliminating the need for batteries or connections while improving functionality and efficiency, as well as permitting more flexible device placement.
E-Peas SA announced in January 2022 an Ultra-Compact Custom Power Management Solution designed specifically for Cartier's First Solar Energy Harvesting Watch called Tank Watch. Designed specially for the Tank Watch timepiece is an ultra-compact PMIC which occupies only a mere space of 2mm x 2mm, which is smaller than any other available energy harvesting solutions at present. Its architecture incorporates only a few tiny external components so that its total solution could fit into the constrained space open.
Advanced Linear Devices, Inc. (ALD) portfolio of products in analog semiconductors announced nano-powder precision P-Channel EPAD MOSFET array in January 2022. In order to have energy harvesting done with the efficiency of the products, a matched pair MOSFET circuit has been used in next-generation products that need low-power applications and mostly operation. By cutting down on bias circuitry, this MOSFET maximizes power efficiency. These are among other markets where the MOSFET array is used: automotive, medical, transportation, robotics and wireless products. In these markets, there is a high demand for self-contained power circuits operating at shallow power levels for extended periods of time.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.56 billion |
| Market Size 2024 | USD 0.62 billion |
| Market Size 2032 | USD 1.32 billion |
| Compound Annual Growth Rate (CAGR) | 9.83% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Energy Source, Technology, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Levant Power Corporation (U.S.), Honeywell International, Inc. (U.S.), Green Peak Technologies (Netherlands), Fujitsu (Japan), ABB Limited (Switzerland), Arveni (France), Enocean (Germany), Microchip Technology, Inc., (U.S.), Texas Instruments Inc. (U.S.), ST Microelectronics (Switzerland). |
| Key Market Opportunities | · Access through various remote locations |
| Key Market Dynamics | · New product launches and R&D Amongst major key players |
Energy Harvesting Market Highlights:
Frequently Asked Questions (FAQ) :
The Energy Harvesting market size was valued at USD 0.56 Billion in 2023.
The market is projected to grow at a CAGR of 9.83% from 2024 to 2032.
North America had the largest share of the market
The key players in the market are Levant Power Corporation (U.S.), Honeywell International, Inc. (U.S.), Green Peak Technologies (Netherlands), Fujitsu (Japan), ABB Limited (Switzerland), Arveni (France), Enocean (Germany), Microchip Technology, Inc., (U.S.), Texas Instruments Inc. (U.S.), ST Microelectronics (Switzerland).
The Photovoltaic Energy Harvesting category dominated the market in 2022.
The Industrial had the largest share of the market.
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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