Energy
Harvesting Trees Market Overview
As per the comprehensive
analysis by Market Research Future (MRFR), the Energy
Harvesting Trees Market Size is predicted to have a lavish growth trajectory, reaching the value of
USD 1,126 Million during the forecast period (2018-2023).
Energy harvesting trees have the ability to trap infinite energy from
the surrounding energy sources, offering an innovative way for the generation
of clean energy which is also sustainable. Renewable energy is emerging as the
power source for future use owing to the continuously depleting resources of
fossil fuels. Energy harvesting is considered an alternative technique for
solving the problem of energy scarcity for the
purpose of energy conservation. Growing
cost of fossil fuels serves as an area for concern. Therefore, the increasing scarcity of non-renewable resources coupled
with the growing energy demands of the expanding population presents various
growth opportunities to the global energy harvesting trees market.
With sharper focus on sustainability combined with the growing initiatives for reduction of carbon footprint on the environment, numerous countries
are encouraging the use of renewable energy sources. This factor serves to
bolster the demand for global energy harvesting trees market. Conventional energy
harvesting techniques rely heavily on vast expanses of land, as well as large
and expensive transmission networks that ultimately reduce the amount of
available power owing to transmission loss. Moreover, energy harvesting trees
are comparatively more efficient than traditional solar energy systems,
generating maximum amount of energy with minimum
land usage for solar parking. These benefits propel the demand for energy
harvesting trees, pushing the growth of the global market in an upward
trajectory.
Energy
Harvesting Trees Market Segmentation
The market for energy
harvesting trees is segmented on the basis of component,
technology, and application.
Component-wise, the energy
harvesting trees market is segmented into
nanoleaves, long tower, light emitting diodes (LEDs), batteries and others.
Technology-based segments in
the global market are photovoltaic (PV), thermovoltaics
(TV), and Piezovoltaic (PZ). Among these, Piezovoltaic (PZ) is noted to hold the largest
share, with the consistent expansion of the piezoelectric energy harvesting
industry. Leaves, stems, and twigs constitute nano-piezovoltaic material that generates electrical energy from wind, solar,
tides as well as rain energy. Also, the declining cost of photovoltaic panels in
recent times has turned solar power into a much more viable aspect, attracting more
investment in the growing regions.
The applications where
energy harvesting trees are utilized
include commercial and residential.
Regional
Outlook
The energy harvesting trees
market is segmented into the key regions of Europe, North America,
Asia-Pacific, and Rest of the World.
The Asia
Pacific is growing at the fastest rate followed by North America and Europe. As energy harvesting trees help fulfill
energy demand, at the same time-saving
space and ensuring continuous supply of
electricity. To illustrate, it has been implemented in India for providing electricity without the issues of power cut and
the extra energy provided to the grid.
Factors like growing population, along with the problem of
energy supply, in addition to the massive investment made for solar trees is fueling the growth of the market in the
regions of Europe and North America.
Key
Vendors
The key vendors contributing
to the global energy harvesting trees market include Spotlight Solar, Creative
Smart Innovations, Solar Botanic, Green World Investor, Lucid Management Group,
Envision Solar, and others.
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