This review paper presents an in-depth analysis of Heusler alloys, focusing on their structural, electronic, magnetic, mechanical, and thermoelectric characteristics, and potential applications. It begins with an examination of the crystal structure and composition, highlighting how composition influences structural properties. The paper delves into the electronic aspects by analyzing band structures and Fermi surfaces through density functional theory studies. The magnetic behavior of these alloys, pivotal in spintronic applications, is also scrutinized. Furthermore, the paper discusses mechanical properties like elastic constants and shape memory effects, and thermoelectric features including phonon and electron transport. Applications in energy conversion, storage, spintronics, sensing, and actuation are explored, emphasizing the alloys' role in lithium-ion batteries, fuel cells, spin valves, and magnetic tunnel junctions. Finally, it addresses challenges and future perspectives in synthesizing and integrating Heusler alloys for enhanced performance, underscoring the need for further research to unlock their full potential in various technological fields.
