The triboelectric nanogenerator market is expected to grow at a compound annual growth rate of 48.38% over the forecast period to reach a market size of US$286.418 million in 2027 from US$18.083 million in 2020. Triboelectric generators are used to miniaturize physical electronic devices such as tablets, computing devices, etc. Growing demand for smart and connected homes is anticipated to drive the overall market growth during the forecast period. Triboelectric generators are used as switch sensors for smart home lighting fixtures. It has a wide range of applications in the healthcare sector. TENG applications include drug delivery, neural prosthesis, cell modulation, circulatory system, microbial disinfection, biodegradable electronics, hair regeneration, and others. Moreover, increasing demand for compact-sized power supply devices which can be used in areas where wires are difficult to be installed for the power supply or transmission is anticipated to drive the overall market growth. Additionally, rising demand for wearable devices in countries like India and China is driving the demand for triboelectric nanogenerators which in turn is boosting the market growth. Furthermore, the rising threat of threat of global warming is one of the main factors propelling the worldwide triboelectric nano-generator market.
Based on application, the triboelectric nanogenerator market is segmented into consumer electronics, healthcare, aerospace and defense, and others. The consumer electronics segment accounts for XX% of the market in 2020 and is expected to grow at a CAGR of XX% to reach a market share of XX% by 2027. Triboelectric nano-generators are utilized to power wearable technology, as they can transform low-frequency vibrations existing in the environment into electric power. The common devices and widgets used in businesses and homes today contain nanotechnology. Consumer electronics, which may be regarded as the principal implementation of triboelectric nanogenerators and is thus driving the market segment, have undergone significant changes as a result of shifting market demographics. These products now feature straightforward designs with enhanced quality. With reasons for worth in terms of their cost, space requirements, and consumer-savvy self-installation product kits needing little effort from the consumers' end, the minimalist items are currently expensive.
Triboelectric generators have also primarily been utilized to reduce the size of physical electronic devices like computers, tablets, and other similar products without sacrificing the utility of the final product in terms of efficacy and efficiency. When triboelectric nanogenerators are miniaturized, they become complicated and weak, making it difficult for them to withstand much of the external strength necessary to be used for a long time. This has led to a constant need in the field of electrical engineering to start making the devices as well as their chipset of fiber and fabric-based triboelectric nanogenerators durable. Additionally, the demand for consumer electronics globally is projected to be fueled shortly by improving living standards, robust economic growth, and a rise in disposable income, which will boost the market for triboelectric nano-generators.
Growing demand of triboelectric nanogenerator from consumer electronics is boosting the market growth. One of the prime reasons supporting the overall market growth are the growing demand for integrated durable triboelectric nanogenerator in the consumer electronics industry. TENG is integrated with the energy storage system into a self-powered system, which can supply power to the electronic devices and make them work continuously. Rapidly growing urban population and industrialization have increased the demand for advanced consumer electronic devices that is expected to drive the overall market growth during the forecast period. Growing demand for advanced computers, mobile phones, and defense-related electronic devices are forcing manufacturers to develop new products with innovative technology. According to IBEF, the appliances and consumer electronics industry in India is expected to reach US$ 21.18 billion by the end of 2025 which in turn, is expected to have a positive impact on market growth. Additionally, the growing demand for renewable energy sources that use inverters to convert DC power to AC power is further positively influencing the market growth. Moreover, the growing applications of TENG in smart homes are further anticipated to drive the overall market growth during the forecast period.
COVID-19 Impact
The COVID-19 pandemic had a negligible impact on the global triboelectric nanogenerators market. While the consumer electronics and aerospace segments witnessed a great fall in production, which significantly contracted the market, the demand generated by the healthcare sector facilitated covering up the gap created by other sectors. Triboelectric nanogenerators play a vital role in the healthcare sector in the field of bioscience and healthcare tracking. During the advent of the COVID-19 pandemic, demand for health tracking devices sored, which provided a significant market for triboelectric nanogenerators. Furthermore, wearable devices as well witnessed a surge in demand, which backed the market
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