Semiconductor coolers are thermoelectric coolers, also known as Peltier coolers or thermoelectric modules, which act as a heat pump. These coolers act when a low direct current (DC) voltage is passed through them. The voltage causes the semiconductor cooler to move the heat from one part of the cooler to another part, thus cooling the former area while heating the later area.

Semiconductor coolers market are generally made of alternating n and p type semiconductors, which results in cooling at the junctions of these semiconductors, while heat is being absorbed from the environment. Reversal of polarity of the DC voltage will cause a reversal in the cool and hot areas of the pump, thus allowing for temperature control of the semiconductor module in a precise manner. The same thermodynamic principle is also applied for portable refrigerators and beverage coolers, among others, however on a larger scale. In general, semiconductor coolers are accompanied by a heat sink, absence of which can lead to malfunctioning of the semiconductor module itself.

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The market for semiconductor coolers is growing at a very fast pace, primarily owing to the growing demand for electronic devices globally. Semiconductor coolers have wide array of applications across several industrial verticals. They can be found in inkjet printers, commonly used in households, while they are also used in complex semiconductor modules of aeronautical electronic devices. With the growth in Internet of Things (IoT), there is an ever growing demand for electronic devices. Such demand for electronics is fuelling the application of semiconductor coolers in these devices, since semiconductor coolers aids in effective power management and efficient heat dissipation. Thus it is positively impacting the growth of this market. Additionally, the growing penetration of consumer electronics, across the developing and under developed nations is also aiding in the growth of the semiconductor coolers market.

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The global semiconductor coolers market can be segmented, by type, into single stage, multi stage and others. Single stage semiconductor coolers are more suited for medium to low heat dissipation requirements. These semiconductor coolers have several applications, such as maintenance of temperature range in ferroelectric detectors and bolometers, viscosity maintenance of inkjet printers and in fiber optic systems comprising of laser diode arrays, among others. Multi stage semiconductor coolers are more suited for high to medium heat dissipation requirements. These semiconductor coolers have several applications, such as thermal imaging equipments; radio hardened aerospace electronics and night vision equipments among others. By end use industry, the semiconductor coolers market is segmented into aerospace & defense, automotives, healthcare, consumer electronics and others. Multi stage semiconductor coolers are in high demand in the aerospace & defense domain, as the electronic devices used generates high amount of heat.

Imaging devices, used in healthcare industry, also has a lot of applications of multi stage semiconductor coolers. The global semiconductor coolers market has been further segmented into five regions: North America, Europe, Asia Pacific (APAC), South America  and Middle-East & Africa (MEA). By revenue, Asia Pacific had the largest market share in 2015, followed by North America and Europe. The higher market share of Asia-Pacific can be attributed to the presence of large number of local manufacturers of semiconductor coolers, coupled with higher demand for consumer electronics in the region and higher growth of industrial automation in manufacturing sectors among others.

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The major companies of the  Semiconductor coolers market globally are Ferrotec (USA) Corporation (U.S.), KELK, Ltd. (Japan), Thermion Company (Ukraine), II-VI Incorporated (U.S.), TE Technology, Inc. (U.S.), Laird PLC. (U.K.), RMT, Ltd. (Russia), Wellen Technology Co., Ltd. (China), Hicooltec Electronic (China), Phononic, Inc. (U.S.), Merit Technology Group (China) and Tellurex Corporation. (U.S.) among various others.

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