Impact of the Covid-19 Outbreak on the Global Energy Harvesting Systems Market
The spread of the COVID-19 pandemic has negatively impacted the global energy harvesting systems market owing to the lockdowns imposed in the majority of the countries across the globe since December 2019. Energy harvesting systems use various sources of energy, such as light, vibrations, radiofrequency, and heat. Energy production components include transducers, power management integrated circuits, secondary batteries, and others. Radiofrequency energy harvesting (RFEH) methods harvest energy from ambient or dedicated sources and enable wireless charging of low-power devices, providing benefits such as better product design, usability, and reliability.
Energy harvesting systems are used in building and home automation, consumer electronics, industrial power generation, transportation, security, and other applications. The production of energy through energy harvesting systems has slowed down due to the coronavirus lockdown. However, the demand for energy harvesting systems is anticipated to recover in the coming months and grow significantly in the long term.
GLOBAL RENEWABLE ENERGY PRODUCTION FORECAST, 2019 -2021
Government policies in many countries have continued to focus on energy harvesting systems from light and thermal sources. Globally, there was an increase of 98 Gigawatts in solar energy production capacity. In 2019, the global renewable energy capacity increased to 2,537 gigawatts. Hydropower held the largest share of the global total, at a capacity of 1,190 gigawatts. The Wind and solar energy capacities were 623 GW and 586 GW, respectively. Other renewables consisted of 124 GW of bioenergy, 14 GW of geothermal plus, and 500 MW of marine energy. Asia accounted for 54 percent of the new capacity in 2019, increasing its renewable capacity by 95.5 GW to reach 1.12 terawatts—44 percent of the global total.
Source: Primary Experts, Secondary Sources, and MRFR Analysis