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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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.
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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:
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