Global Thermoelectric Generators Market was valued US$ 320. 60 Mn in 2017 and is expected to reach 950.20 Mn by 2026, at a CAGR of 14.55 % during a forecast period.
The thermoelectric generator transforms the heat into electrical energy. Thermoelectric power generation is one of the current interests in clean energy research in view of direct solar power generation, which makes thermoelectric power generation a prominent application.
Growing demand for fuel efficiency and strict emission regarding carbon from the government across the globe is expected to boost the global thermoelectric generators market growth. Increasing demand for miniaturized thermoelectric generators, growing requirement for maintenance free and durable power sources are also expected to boom the global thermoelectric generators market. Additionally, the growing demand for waste heat recovery systems, coupled with the increase in global warming is projected to fuel demand for the global thermoelectric generator market.
On the other hand, the high cost for the installation of the system is expected to limit the growth of the market during the forecast period. Additionally, inadequacy to produce high output power is also expected to hamper the growth of the global thermoelectric generators market.
In the automotive industry, nearly about 70% percent of heat energy released from a vehicle’s engine is lost, which is common in the form of heat. The thermoelectric generators are a suitable solution for this energy loss problem. Commonly, thermoelectric generators are widely used for low power remote applications or where the usage of immense heat engines is not possible. The automotive segment is expected to share significant growth in the global thermoelectric generator market owing to a rise in automotive manufacturing across the globe. Thermoelectric generators are majorly used for the reduction of Co2 emission in commercial vehicles. It converts waste heat of an Internal combustion engine into electricity, which is expected to increase of fuel efficiency and accordingly reduction in carbon emissions.
The Asia-Pacific is expected to grow at a XX % rate of CAGR in the thermoelectric generator market during the forecast period. Rapid industrialization is one of the key drivers in the thermoelectric generator market in this region. The growing demand for thermoelectric generators by automotive industries to enhance fuel efficiency is expected to boost the thermoelectric generator market growth. As the thermoelectric generator is extensively used in vehicles for automotive waste heat recovery, which also helps in reducing the CO2 emission emitted by vehicles. Accordingly, the maximum share of production of the vehicle in the region is expected to drive the thermoelectric generators market in the Asia Pacific.
Some of the many key players are focusing to launch innovative products is projected to boost the thermoelectric generator market during the forecast period. For instance, in 2018, Phononic introduced its proprietary non-hermetic compatible thermoelectric cooler platform, which is developed to offer cooling performance and high reliability combined with lower consumption of power for laser packaging.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global thermoelectric generators market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global thermoelectric generators market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Scope of the Report for Global Thermoelectric Generators Market
Global Thermoelectric Generators Market, By Source
• Waste Heat Recovery
• Energy Harvesting
• Direct Power Generation
• Co-generation
Global Thermoelectric Generators Market, By Temperature
• Low Temperature (<80°C) • Medium Temperature (80°-500°C) • High Temperature (>500°C)
Global Thermoelectric Generators Market, By Material
• Bismuth or Lead Telluride (BiTe)
• Lead-Telluride (Pb-Te)
• Antimony-Bismuth (Sb-Bi)
• Copper-Iron (Cu-Fe)
• Calcium Manganese Oxide
• Others
Global Thermoelectric Generators Market, By Wattage
• Low Power (<10W)
• Medium Power (10-1KW)
• High Power (>1KW)
Global Thermoelectric Generators Market, By End User
• Automotive
• Aerospace
• Defense
• Industrial
• Consumer
• Others
Global Thermoelectric Generators Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players
• II-VI Incorporated.
• Ferrotec Holdings Corporation
• Laird PLC
• Kelk Ltd
• Gentherm, Inc.
• II-VI Marlow, Inc.
• Yamaha Corporation
• Kryotherm Company
• Aplhabet Energy, Inc.
• Tellurex Corporation
• Evident Thermoelectrics
• Komatsu Limited
• Phononic Devices
• Thermo Electric Company, Inc.
• RMT Ltd
• TECTEG MFR
• RIF Corporation
• Tegpro Thermoelectric Generator
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