Energy Harvesting Trees Market Overview:

Energy Harvesting Trees Market is expected to grow at~14% CAGR with a USD 1,126 Million during the forecast period.

The global energy harvesting trees market is growing at a rapid pace. In the current scenario where scarcities of land and water, alongside the increasing environmental concerns, are prompting the demand for clean energy generation, energy harvesting that minimizes waste energy and improves efficiency sounds reasonably sensible. The idea of harvesting energy using trees has caught everyone’s attention.

A renewed interest can be seen among corporations to create green spaces thriving with native trees that influence the market growth. Inventors have proposed all kinds of ideas for energy generation and storage. They have been increasing filing patents for energy harvesting technologies. Energy harvesting can indeed provide a fair amount of power.

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In the years to come, the market is expected to ascend on exponential heights. In this regard, Market Research Future (MRFR) asserts that the global energy harvesting trees market is expected to reach exponential heights by 2027, registering a phenomenal CAGR throughout the review period (2020 to 2027). Also, the rising adoption of energy harvesting technology using trees to power alarm systems in remote forest fires boost the market size.

Energy Harvesting Trees Market – Segments

The MRFR analysis is segmented into components, technology, applications, and regions. The component segment is sub-segmented into nano leaves, long towers, LEDs, batteries, and others. The technology segment is sub-segmented into photovoltaic (PV), thermovoltaics (TV), piezovoltaic (PZ)), and others. Of these, the piezovoltaic (PZ) segment accounts for the largest market share.

The application segment is sub-segmented into commercial and residential. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.

Energy Harvesting Trees Market – Regional Analysis

The Asia Pacific region dominates the global energy harvesting trees market with a significant market share. The region witnesses huge funding from foreign investors owing to the availability of cost-competitive logistics such as ample land, raw materials, and workforces. Besides, the ample availability of solar energy encourages manufacturers to shift their production bases to countries such as China and India, fostering market growth in this region.

The rapid adoption of green sources for electricity in order to fulfill the growing energy demand, especially in the developing economies in the region, substantiates the market growth. Moreover, rapid industrialization, urbanization, and rise in population increase the demand for alternative energy solutions.

The European region is another lucrative market for piezoelectric devices. Continuous improvement in solar technologies is a key driving factor responsible for the regional market. European countries such as the U.K. and Germany, backed by the enormous investments in the development of energy harvesting trees, contribute to the market growth in the region.

The North American region is rapidly emerging as a promising market for energy harvesting trees due to the substantial advancements and the uptake of technologies. High investments in RD and the growing awareness regarding the adverse effects of fossil fuel combustion on the environment influence the growth of the market. Additionally, increased investments for solar tree installation in remote locations where electricity cannot be supplied through cables and wires propel the market growth.

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Energy Harvesting Trees Market – Competitive Analysis

The market for energy harvesting trees appears to be highly competitive, with the presence of numerous well-established players having an international and global presence. Mergers acquisitions, innovation, and brand reinforcement remain the key trends for the leading players. Vendors strive to develop low-cost, compact devices, emphasizing improved hardware. 

To gain a more competitive edge in the market, these key players require more consolidation and integration of this system as a whole, developing a strong, supporting infrastructure to deliver configurable designs.

Key Players 

Fervent players driving the energy harvesting trees market include Creative Smart Innovations, Solar Botanic, Lucid Management Group, Envision Solar, Green World Investor, and Spotlight Solar, among others.

Industry/Innovation/Related News: 

March 31, 2021 – The government of Saudi Arabia announced huge tree-planting initiatives to foster 50% renewable energy by 2030. The SA government aims to make huge investments in solar technologies for producing renewable energy as part of efforts to diversify the economy away from its oil dependence. Saudi Green Initiative is aiming to transform one of the world’s top oil producers into a global leader in forging a greener world.