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Thermoelectric Modules Market Share & Growth | Forecast 2031
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Thermoelectric Modules Market Share & Growth | Forecast 2031

Segments - Thermoelectric Modules Market by Types (Bulk Thermoelectric Modules, Thin-film Thermoelectric Modules, and Micro Thermoelectric Modules), Models (Single-stage and Multi-stage), Components (Hardware, Software, and Services), Applications (Deep-cooling, General, and Others), End-users (Telecommunications, Automotive, Consumer Electronics, Healthcare, Food & Beverages, Aerospace & Defense, Oil, Gas, & Mining, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Swapnil Hedau

Upcoming | Report ID :EP-4627 | 4.5 Rating | 69 Reviews | 166 Pages | Format : PDF Excel PPT

Report Description


The global thermoelectric modules market size was valued at around USD 539.50 Billion in 2022  and is expected to reach USD 1.06 Billion by 2031 , expanding at a CAGR of around 7.9% during the forecast period, 2023 – 2031. The growth of the market is attributed to the high demand for alternative energy technologies.

Thermoelectric Modules Market Outlook

A thermoelectric module, also known as a Peltier module, is referred to as a thermal control module, which has both heating and cooling effects. This module uses the Peltier effect, where an electric current passes through a circuit to generate heat at one junction to be absorbed in another junction, to create a heat flux between two different types of materials. The current passing through the module can change the surface temperature and keep the surface at the expected temperature. Thermoelectric modules are used in various applications for different industries. Typical applications for thermoelectric modules include black box cooling, cold plates, dehumidifiers, ice point references, infrared detectors, low noise amplifiers, wine cabinets, thermal viewers, night vision equipment, and others. Thermoelectric modules offer numerous benefits in comparison to traditional cooling methods. Some of the benefits of thermoelectric modules include low maintenance, longevity, no refringent emission, being environmentally friendly, controllable, extreme environment compatibility, and others.

The COVID-19 pandemic situation affected the global thermoelectric modules market negatively. Several industries such as automotive, aerospace, telecommunications, and others witnessed a decline in sales and revenue. The lockdown, travel ban, social distancing, and other restrictions during the pandemic resulted in a decrease in thermoelectric module applications. The global thermoelectric modules market witnessed around 7% decline in 2021 in comparison with 2019.

  • Increasing demand for alternative energy technologies is expected to drive the market during the forecast period.

  • Growing automotive industry fuels the market.

  • Increasing adoption of thermoelectric modules across various industries is projected to spur the market during the forecast period.

  • Scalability, reliability, environmental friendliness, and compact size of thermoelectric modules drive the market.

  • Simultaneous heating and cooling ability of a thermoelectric module is anticipated to boost the market in the coming years.

  • Rising trend of wearable coolers is estimated to boost the market in the coming years.

  • High cost of thermoelectric modules compared with traditional heating and cooling systems is estimated to hamper the growth of the market during the forecast period.

  • Growing demand for thermoelectric modules in various industries for various applications offers growth opportunities for the market players.

Scope of the Report

The report on the global thermoelectric modules market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Thermoelectric Modules Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Bulk Thermoelectric Modules, Thin-film Thermoelectric Modules, and Micro Thermoelectric Modules), Models (Single-stage and Multi-stage), Components (Hardware, Software, and Services), Applications (Deep-cooling, General, and Others), and End-users (Telecommunications, Automotive, Consumer Electronics, Healthcare, Food & Beverages, Aerospace & Defense, Oil, Gas, & Mining, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

WATRONIX, Inc; Custom Thermoelectric, LLC; Crystal Ltd.; Alutron Modules Ltd.; Bourns, Inc.; Ferrotec (USA) Corporation; Laird Thermal Systems, Inc.; TE Technology, Inc.; II-VI Incorporated; TEC Microsystems GmbH; RMT Ltd.; Guangdong Fuxin Electronic Technology Co., Ltd.; Kreazon LLC; Thermonamic Electronics (Jiangxi) Corp., Ltd.; EVERREDtronics Ltd.; Xiamen Hicool Electronics Co., Ltd.; TEC Microsystems GmbH; Ferrotec Holdings Corporation; KELK Ltd; Hi-Z Technology, Inc.; and Others

Market Segment Insights

Bulk thermoelectric modules segment holds a key market share

In terms of types, the market is divided into bulk thermoelectric modules, thin-film thermoelectric modules, and micro thermoelectric modules. The bulk thermoelectric modules segment is expected to drive the market during the forecast period, as bulk thermoelectric modules are widely used in a variety of applications. These types of thermoelectric modules do not have any design constraints and complexities, which facilitate these modules to configure for different power draw and cooling capabilities. These are the factors, which aid in the expansion of the segment.

Thermoelectric Modules Market Types

Multi-stage segment witnesses a significant growth rate

Based on models, the market is bifurcated into single-stage and multi-stage. The multi-stage segment is expected to hold a key revenue share of the market during the forecast period, owing to the high heating and cooling capabilities of multi-stage thermoelectric modules. Enterprises are increasingly focusing on developing multi-stage thermoelectric modules with high capacities for niche applications. Growing usage of these modules in the industries such as telecommunications, automotive, healthcare, and others expands the multi-stage segment further.

Software segment holds a key market share

In terms of components, the market is segmented into hardware, software, and services. The software segment is projected anticipated to drive the market during the forecast period, as several companies and enterprises are offering simulation, testing & compliance, and designing & engineering software to facilitate smooth workings of thermoelectric modules.

Deep-cooling segment expands rapidly

On the basis of applications, the market is divided into deep-cooling, general, and others. The deep-cooling segment is projected to register significant growth during the forecast period, due to the growing usage of deep-cooling thermoelectric modules in various applications. Some of these applications include detecting infrareds, cooling electro-optics for industrial cooling, and charged couple discharged arrays. Various applications in different industries aid in the expansion of the deep-cooling segment.

Thermoelectric Modules Market Application

Automotive segment holds a significant market share

Based on end-users, the market is segregated into telecommunications, automotive, consumer electronics, healthcare, food & beverages, aerospace & defense, oil, gas, & mining, and others. The automotive segment is estimated to expand at a rapid pace during the forecast period, owing to the wide use of thermoelectric modules in the automotive industry. The applications of thermoelectric modules in the automotive industry include cool cup holders and glove boxes, cooling lase diodes in laser headlights, cooling laser diodes in head-up displays, cooling sensor devices, and others. Increasing demand for vehicles equipped with various convenience features boosts the demand for thermoelectric modules and expands the automotive segment.

Asia Pacific is expected to dominate the market

On the basis of regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is projected to register a high CAGR during the forecast period, owing to increasing demand for thermoelectric modules for automotive and consumer electronics industries in the region. Rapid urbanization, increased digitization, rising penetration of IoT, and industrial revolution 4.0 are some of the key factors facilitating the market in Asia Pacific to expand.

Thermoelectric Modules Market Region

Segments

The global thermoelectric modules market has been segmented on the basis of

Types

  • Bulk Thermoelectric Modules
  • Thin-film Thermoelectric Modules
  • Micro Thermoelectric Modules

Models

  • Single-stage
  • Multi-stage

Components

  • Hardware
  • Software
  • Services

Applications

  • Deep-cooling
  • General
  • Others

End-users

  • Telecommunications
  • Automotive
  • Consumer Electronics
  • Healthcare
  • Food & Beverages
  • Aerospace & Defense
  • Oil, Gas, & Mining
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • WATRONIX, Inc
  • Custom Thermoelectric, LLC
  • Crystal Ltd.
  • Alutron Modules Ltd.
  • Bourns, Inc.
  • Ferrotec (USA) Corporation
  • Laird Thermal Systems, Inc.
  • TE Technology, Inc.
  • II-VI Incorporated
  • TEC Microsystems GmbH
  • RMT Ltd.
  • Guangdong Fuxin Electronic Technology Co., Ltd.
  • Kreazon LLC
  • Thermonamic Electronics (Jiangxi) Corp., Ltd.
  • EVERREDtronics Ltd.
  • Xiamen Hicool Electronics Co., Ltd.
  • TEC Microsystems GmbH
  • Ferrotec Holdings Corporation
  • KELK Ltd
  • Hi-Z Technology, Inc.
  • Others

Competitive Landscape

The global thermoelectric modules market includes several key players such as WATRONIX, Inc; Custom Thermoelectric, LLC; Crystal Ltd.; Alutron Modules Ltd.; Bourns, Inc.; Ferrotec (USA) Corporation; Laird Thermal Systems, Inc.; TE Technology, Inc.; II-VI Incorporated; TEC Microsystems GmbH; RMT Ltd.; Guangdong Fuxin Electronic Technology Co., Ltd.; Kreazon LLC; Thermonamic Electronics (Jiangxi) Corp., Ltd.; EVERREDtronics Ltd.; Xiamen Hicool Electronics Co., Ltd.; TEC Microsystems GmbH; Ferrotec Holdings Corporation; KELK Ltd; Hi-Z Technology, Inc.; and others. These key players adopt business strategies such as collaborations, mergers, acquisitions, partnerships, and product launches to strengthen their position in the market. For example, in March 2019, TEC Microsystems GmbH introduced a header-free concept, which modifies and optimizes the workings of thermoelectric coolers. It aids in simplifying packaging solutions, reducing manufacturing costs, and aligning assembly processes. In August 2020, Laird Thermal Systems, Inc. launched a new series of thermoelectric coolers, Hi-Temp ETX, which delivers active cooling in high-temperature environments.

Thermoelectric Modules Market Keyplayers

Frequently Asked Questions

The global thermoelectric modules market is estimated to register a CAGR of around 7.9% during the forecast period.

The global thermoelectric modules market size was valued at around USD 539.50 billion in 2022 and is anticipated to reach around USD 1.06 billion by 2031.

Bulk thermoelectric modules, thin-film thermoelectric modules, and micro thermoelectric modules are the three types of thermoelectric modules.

A thermoelectric module, also known as a Peltier module, is referred to as a thermal control module, which has both heating and cooling effects.

Asia Pacific dominates the global thermoelectric modules market.

WATRONIX, Inc; Custom Thermoelectric, LLC; Crystal Ltd.; Alutron Modules Ltd.; Bourns, Inc.; Ferrotec (USA) Corporation; Laird Thermal Systems, Inc.; and TE Technology, Inc. are some of the key players in the global thermoelectric modules market.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Thermoelectric Modules Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Thermoelectric Modules Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Thermoelectric Modules Market - Supply Chain
  4.5. Global Thermoelectric Modules Market Forecast
     4.5.1. Thermoelectric Modules Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Thermoelectric Modules Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Thermoelectric Modules Market Absolute $ Opportunity
5. Global Thermoelectric Modules Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Thermoelectric Modules Market Size and Volume Forecast by Types
     5.3.1. Bulk Thermoelectric Modules
     5.3.2. Thin-film Thermoelectric Modules
     5.3.3. Micro Thermoelectric Modules
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Thermoelectric Modules Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Thermoelectric Modules Market Size and Volume Forecast by Applications
     6.3.1. Deep-cooling
     6.3.2. General
     6.3.3. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Thermoelectric Modules Market Analysis and Forecast by End Users
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by End Users
     7.2.2. Y-o-Y Growth Projections by End Users
  7.3. Thermoelectric Modules Market Size and Volume Forecast by End Users
     7.3.1. Telecommunications
     7.3.2. Automotive
     7.3.3. Consumer Electronics
     7.3.4. Healthcare
     7.3.5. Food & Beverages
     7.3.6. Aerospace & Defense
     7.3.7. Oil, Gas, & Mining
     7.3.8. Others
  7.4. Absolute $ Opportunity Assessment by End Users
  7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global Thermoelectric Modules Market Analysis and Forecast by Region
  8.1. Market Trends
  8.2. Introduction
     8.2.1. Basis Point Share (BPS) Analysis by Region
     8.2.2. Y-o-Y Growth Projections by Region
  8.3. Thermoelectric Modules Market Size and Volume Forecast by Region
     8.3.1. North America
     8.3.2. Latin America
     8.3.3. Europe
     8.3.4. Asia Pacific
     8.3.5. Middle East and Africa (MEA)
  8.4. Absolute $ Opportunity Assessment by Region
  8.5. Market Attractiveness/Growth Potential Analysis by Region
  8.6. Global Thermoelectric Modules Demand Share Forecast, 2019-2026
9. North America Thermoelectric Modules Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
  9.2. North America Thermoelectric Modules Market Size and Volume Forecast by Country
     9.2.1. U.S.
     9.2.2. Canada
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. North America Thermoelectric Modules Market Size and Volume Forecast by Types
     9.4.1. Bulk Thermoelectric Modules
     9.4.2. Thin-film Thermoelectric Modules
     9.4.3. Micro Thermoelectric Modules
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. North America Thermoelectric Modules Market Size and Volume Forecast by Applications
     9.7.1. Deep-cooling
     9.7.2. General
     9.7.3. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. North America Thermoelectric Modules Market Size and Volume Forecast by End Users
     9.10.1. Telecommunications
     9.10.2. Automotive
     9.10.3. Consumer Electronics
     9.10.4. Healthcare
     9.10.5. Food & Beverages
     9.10.6. Aerospace & Defense
     9.10.7. Oil, Gas, & Mining
     9.10.8. Others
  9.11. Basis Point Share (BPS) Analysis by End Users
  9.12. Y-o-Y Growth Projections by End Users
  9.13. Market Attractiveness/Growth Potential Analysis
     9.13.1. By Country
     9.13.2. By Product Type
     9.13.3. By Application
  9.14. North America Thermoelectric Modules Demand Share Forecast, 2019-2026
10. Latin America Thermoelectric Modules Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Latin America Average Pricing Analysis
  10.2. Latin America Thermoelectric Modules Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
  10.4. Latin America Thermoelectric Modules Market Size and Volume Forecast by Types
     10.4.1. Bulk Thermoelectric Modules
     10.4.2. Thin-film Thermoelectric Modules
     10.4.3. Micro Thermoelectric Modules
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Latin America Thermoelectric Modules Market Size and Volume Forecast by Applications
     10.7.1. Deep-cooling
     10.7.2. General
     10.7.3. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Latin America Thermoelectric Modules Market Size and Volume Forecast by End Users
     10.10.1. Telecommunications
     10.10.2. Automotive
     10.10.3. Consumer Electronics
     10.10.4. Healthcare
     10.10.5. Food & Beverages
     10.10.6. Aerospace & Defense
     10.10.7. Oil, Gas, & Mining
     10.10.8. Others
  10.11. Basis Point Share (BPS) Analysis by End Users
  10.12. Y-o-Y Growth Projections by End Users
  10.13. Market Attractiveness/Growth Potential Analysis
     10.13.1. By Country
     10.13.2. By Product Type
     10.13.3. By Application
  10.14. Latin America Thermoelectric Modules Demand Share Forecast, 2019-2026
11. Europe Thermoelectric Modules Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Europe Average Pricing Analysis
  11.2. Europe Thermoelectric Modules Market Size and Volume Forecast by Country
     11.2.1. Germany
     11.2.2. France
     11.2.3. Italy
     11.2.4. U.K.
     11.2.5. Spain
     11.2.6. Russia
     11.2.7. Rest of Europe
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Europe Thermoelectric Modules Market Size and Volume Forecast by Types
     11.4.1. Bulk Thermoelectric Modules
     11.4.2. Thin-film Thermoelectric Modules
     11.4.3. Micro Thermoelectric Modules
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Europe Thermoelectric Modules Market Size and Volume Forecast by Applications
     11.7.1. Deep-cooling
     11.7.2. General
     11.7.3. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Europe Thermoelectric Modules Market Size and Volume Forecast by End Users
     11.10.1. Telecommunications
     11.10.2. Automotive
     11.10.3. Consumer Electronics
     11.10.4. Healthcare
     11.10.5. Food & Beverages
     11.10.6. Aerospace & Defense
     11.10.7. Oil, Gas, & Mining
     11.10.8. Others
  11.11. Basis Point Share (BPS) Analysis by End Users
  11.12. Y-o-Y Growth Projections by End Users
  11.13. Market Attractiveness/Growth Potential Analysis
     11.13.1. By Country
     11.13.2. By Product Type
     11.13.3. By Application
  11.14. Europe Thermoelectric Modules Demand Share Forecast, 2019-2026
12. Asia Pacific Thermoelectric Modules Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Asia Pacific Average Pricing Analysis
  12.2. Asia Pacific Thermoelectric Modules Market Size and Volume Forecast by Country
     12.2.1. China
     12.2.2. Japan
     12.2.3. South Korea
     12.2.4. India
     12.2.5. Australia
     12.2.6. Rest of Asia Pacific (APAC)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Asia Pacific Thermoelectric Modules Market Size and Volume Forecast by Types
     12.4.1. Bulk Thermoelectric Modules
     12.4.2. Thin-film Thermoelectric Modules
     12.4.3. Micro Thermoelectric Modules
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Asia Pacific Thermoelectric Modules Market Size and Volume Forecast by Applications
     12.7.1. Deep-cooling
     12.7.2. General
     12.7.3. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Asia Pacific Thermoelectric Modules Market Size and Volume Forecast by End Users
     12.10.1. Telecommunications
     12.10.2. Automotive
     12.10.3. Consumer Electronics
     12.10.4. Healthcare
     12.10.5. Food & Beverages
     12.10.6. Aerospace & Defense
     12.10.7. Oil, Gas, & Mining
     12.10.8. Others
  12.11. Basis Point Share (BPS) Analysis by End Users
  12.12. Y-o-Y Growth Projections by End Users
  12.13. Market Attractiveness/Growth Potential Analysis
     12.13.1. By Country
     12.13.2. By Product Type
     12.13.3. By Application
  12.14. Asia Pacific Thermoelectric Modules Demand Share Forecast, 2019-2026
13. Middle East & Africa Thermoelectric Modules Market Analysis and Forecast
  13.1. Introduction
     13.1.1. Basis Point Share (BPS) Analysis by Country
     13.1.2. Y-o-Y Growth Projections by Country
     13.1.3. Middle East & Africa Average Pricing Analysis
  13.2. Middle East & Africa Thermoelectric Modules Market Size and Volume Forecast by Country
     13.2.1. Saudi Arabia
     13.2.2. South Africa
     13.2.3. UAE
     13.2.4. Rest of Middle East & Africa (MEA)
  13.3. Absolute $ Opportunity Assessment by Country
  13.4. Middle East & Africa Thermoelectric Modules Market Size and Volume Forecast by Types
     13.4.1. Bulk Thermoelectric Modules
     13.4.2. Thin-film Thermoelectric Modules
     13.4.3. Micro Thermoelectric Modules
  13.5. Basis Point Share (BPS) Analysis by Types
  13.6. Y-o-Y Growth Projections by Types
  13.7. Middle East & Africa Thermoelectric Modules Market Size and Volume Forecast by Applications
     13.7.1. Deep-cooling
     13.7.2. General
     13.7.3. Others
  13.8. Basis Point Share (BPS) Analysis by Applications
  13.9. Y-o-Y Growth Projections by Applications
  13.10. Middle East & Africa Thermoelectric Modules Market Size and Volume Forecast by End Users
     13.10.1. Telecommunications
     13.10.2. Automotive
     13.10.3. Consumer Electronics
     13.10.4. Healthcare
     13.10.5. Food & Beverages
     13.10.6. Aerospace & Defense
     13.10.7. Oil, Gas, & Mining
     13.10.8. Others
  13.11. Basis Point Share (BPS) Analysis by End Users
  13.12. Y-o-Y Growth Projections by End Users
  13.13. Market Attractiveness/Growth Potential Analysis
     13.13.1. By Country
     13.13.2. By Product Type
     13.13.3. By Application
  13.14. Middle East & Africa Thermoelectric Modules Demand Share Forecast, 2019-2026
14. Competition Landscape
  14.1. Global Thermoelectric Modules Market: Market Share Analysis
  14.2. Thermoelectric Modules Distributors and Customers
  14.3. Thermoelectric Modules Market: Competitive Dashboard
  14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     14.4.1. WATRONIX, Inc
     14.4.2. Custom Thermoelectric, LLC
     14.4.3. Crystal Ltd.
     14.4.4. Alutron Modules Ltd.
     14.4.5. Bourns, Inc.
     14.4.6. Ferrotec (USA) Corporation
     14.4.7. Laird Thermal Systems, Inc.
     14.4.8. TE Technology, Inc.
     14.4.9. II-VI Incorporated
     14.4.10. TEC Microsystems GmbH

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