North America Energy Harvesting Market - By Source, By Component (Energy Harvesting Transducer, Power Management Integrated Circuits (PMIC)), By End Use, Growth Forecast 2024 – 2032

North America Energy Harvesting Market Size

North America Energy Harvesting Market size has witnessed robust growth with valuation of USD 219.7 million in 2023 and will further proliferate with a CAGR of 8.2% from 2024 to 2032. The energy harvesting market pertains to the sector and technological field dedicated to capturing and transforming ambient energy from the surroundings into functional electrical power. This harnessed energy is subsequently utilized to energize electronic devices and systems, particularly in scenarios where conventional batteries or consistent external power sources pose challenges or are not feasible for application.
 

The burgeoning utilization of Internet of Things (IoT) infrastructure, coupled with advancements in energy harvesting technologies across diverse end-use sectors, will shape the industry landscape. For instance, in January 2024, Microsoft announced that it will deploy solar modules and EPC services to power over 1.8 million homes annually, thereby aiming to invest in procuring renewable energy and undertake other initiatives aimed at achieving its sustainability objectives of becoming carbon negative, water positive, and achieving zero waste by 2030. Additionally, continuous progress in energy harvesting technologies, including enhanced efficiency and miniaturization, broadens the scope of applications and enhances the feasibility of these systems across multiple industries.
 

North America Energy Harvesting Market Trends

The energy harvesting market is experiencing a significant evolution characterized by notable trends. The rapid proliferation of the Internet of Things (IoT) is gaining renewed importance, with the prospect of powering IoT devices sans the necessity for regular battery changes expected to propel market expansion. This inclination is fostering the creation of energy harvesting solutions that are both more effective and compact. Furthermore, progress in materials science is playing a pivotal role in enhancing the efficiency and longevity of energy harvesting devices, with novel materials and coatings augmenting the performance of solar panels, piezoelectric generators, and thermoelectric modules.
 

The prevalence of wireless sensor networks is on the rise, diminishing the dependence on wired power sources and cutting down maintenance expenses, particularly in fields such as environmental monitoring and industrial automation. The technology has gained substantial traction in the wearable technology industry, with solar cells and kinetic energy harvesters utilized to enhance user convenience and prolong battery life in smartwatches and fitness trackers.
 

North America Energy Harvesting Market Analysis

Segmented by source, the market encompasses solar energy, vibration and kinetic energy, thermal energy, and radio frequency (RF). North America solar energy harvesting industry will cross over USD 150 million by 2032. A notable shift in business dynamics is evident in the declining costs of solar panels and related equipment, shaping the market landscape. The integration of energy storage is emerging as a prevalent practice to mitigate solar power's intermittency, bolstering reliability. Solar power nearing grid parity across various regions, enterprises are increasingly embracing it as an economically viable and environmentally sustainable energy solution which in turn is further driven by corporate sustainability objectives, thereby adding to the market growth.
 

Categorized by end-use applications, the North America energy harvesting market is divided into consumer electronics, wireless sensor networks, automotive, building automation, and other sectors. Building automation end use industry is set to grow at a rate of over 8% by the year 2032. The escalating significance of energy harvesting within building automation is pivotal, fostering the development of more sustainable, energy-efficient, and environmentally conscious buildings. Moreover, with the ongoing technological advancements, the incorporation of energy harvesting solutions is poised to exert a profound influence on the trajectory of the building automation sector.
 

The U.S. energy harvesting market will cross over USD 290 million by 2032. Government incentives, tax credits, and rebates provided at federal, state, and local levels are stimulating the uptake of renewable energy sources, encompassing energy harvesting technologies. These incentives incentivize investments in solar, wind, and various other energy harvesting methods. Moreover, the impetus for sustainability is propelling the construction and renovation of eco-friendly buildings. Such constructions frequently integrate energy harvesting technologies, like solar panels and kinetic energy harvesters, to curtail energy usage and minimize carbon emissions.

North America Energy Harvesting Company Market Share

ABB, Azelio, Fujitsu, Honeywell, Powercast Corporation holds a significant market share in the North America energy harvesting industry. The industry players are growingly emphasizing on introducing innovative IoT solutions coupled with integration of renewable solution processes boost the efficiency and diminish costs, ensuring its competitiveness in the market.
 

North America Energy Harvesting Market Companies

Some of the key market players operating across the North America energy harvesting industry are:

• Azelio
• Advanced Linear Devices, Inc.
• ABB
• Allied Scientific Pro
• EnOcean
• Fujitsu
• Honeywell
• Mouser Electronics
• Mide Technology Corp.
• Powercast Corporation
• Perpetua Power
• Qualcomm
• Renesas Electronics Corporation
• STMicroelectronics
• Texas Instruments Incorporated
• ZF Friedrichshafen AG
   

North America Energy Harvesting Industry News

• In March 2024, the Government of Canada allocated USD 15 million towards Clean Fuels Projects in the Niagara Region and nationwide, which in turn will fuel the industry scope towards adoption of renewable energy, thereby adding growth prospects to the market.
   
• In October 2023, the U.S. government, in collaboration with numerous private enterprises, announced to initiate more than 94 gigawatts (GW) of fresh clean power generation ventures, representing an approximate investment of USD 133 billion as of August 2023. This development is expected to exert a favorable influence on market expansion.
   

North America Energy Harvesting market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Source (USD Million)

• Solar Energy
• Vibration & Kinetic Energy
• Thermal Energy
• Radio Frequency (RF)
• Others

Market, By Component (USD Million)

• Energy Harvesting Transducer
• Power Management Integrated Circuits (PMIC)
• Others

Market, By End Use (USD Million)

• Wireless Sensor Networks
• Consumer Electronics
• Building Automation
• Automotive
• Others

The above information has been provided for the following countries:

• North America
  • U.S.
  • Canada