Thermoelectric Generators Market: Global Industry Analysis And Forecast (2022 to 2029)

Thermoelectric Generators Market was valued at US$ 511.4 Mn. in 2021. The Global Thermoelectric Generators Market size is estimated to grow at a CAGR of 12.64 % over the forecast period.

Thermoelectric Generators Market Overview:

The machinery that transforms heat flux into electric power is known as a thermoelectric generator. The demand for the thermoelectric generator market is fueled by the thermoelectric generator's wide range of applications in the energy, oil, and gas sectors. Thermoelectric Generators Market To know about the Research Methodology:-Request Free Sample Report Thermoelectric Generators Market dynamics are thoroughly studied and explained in the MMR report, which helps readers to understand emerging market trends, drivers, restraints, opportunities, and challenges at the global and regional levels for the Thermoelectric Generators Market. Some of the drivers and restraints are illustrated below, their detailed explanation is discussed in the MMR report with other supporting: One of the main drivers of market growth is the rising number of research and development projects aimed at improving the performance of thermoelectric generators. The low efficiency of TEGs and the use of conventional technologies are impeding their growth. As a result, producers and researchers are attempting to overcome the three main obstacles: boosting ZT, expanding the operating range of materials to operate with greater temperature differences, and finding reasonably priced materials to offset the negative effects of the TEGs' lack of competence. Market Opportunities: Growing industrialization and disposable money present excellent potential for market expansion. By investing in R&D, many large firms are expanding their market potential by developing technology for the use of high-power thermoelectric generators, which will improve heat exchanger efficiency and help them cope with the strain of high-temperature gradients. Trending Factors:  To further enhance the efficiency of heat exchangers and manage the stress of increasing temperature gradients, several large manufacturers are investing in R&D to advance the technology for high-power thermoelectric generators. Moreover, recent research is concentrating on creating lightweight thermoelectric generators.  Institutions are conducting research to lower the price of thermoelectric generators and boost their effectiveness. The demand for thermoelectric generators is anticipated to rise throughout the forecast period along with the increase in research and development activities.  Low power thermoelectric generators (100 watt) are typically used for outdoor activities like trekking, mountaineering, camping, and as a backup source of electricity in houses during blackouts, mainly to charge electronics like tablets, phones, and lighting equipment.

Thermoelectric Generators Market Segmentation:

MMR provides an analysis of the key trends in each sub-segment of the Thermoelectric Generators Market, along with forecasts at the global, regional, and country levels from 2022-2029. Our report has categorized the market based on Material, End-use Industry, and Application. By application, the energy harvesting segment is expected to witness significant growth during the forecast period thanks to the increasing demand for backup power. Residential, commercial, and industrial areas, which present growth potential for these generators, are places where significant investments are being made to maintain an uninterrupted power supply. Thermoelectric Generators Market Based on material, the bismuth telluride segment is expected to grow at the highest ~CAGR of 13.05% during the forecast period. This is attributed to the fact that bismuth telluride, which has the highest merit score and demonstrates good performance, is the material that is employed the most frequently.

Thermoelectric Generators Market Regional Insights:

North America is the global leader in Thermoelectric Generators Market. In terms of revenue, North America dominated the global market in 2021. It is projected that the market demand would increase due to the growing number of technological advances in North America and the growing demand for generators across numerous industries, including aerospace, automotive, healthcare, and many others. Additionally, the existence of the major market players and the escalating rivalry among them is creating a variety of growth prospects for the market. Along with the region's growing industrialization and increasing need for generators from the car industry, which is increasingly motivated to increase fuel efficiency, the market demand is expected to rise more quickly in the years to come. The Second-Highest Revenue Share in The Global Market is Accounted for By the Europe Market. A substantial portion of the income for the market for thermoelectric generators in Europe is anticipated to remain stable thanks to growing government initiatives for waste heat recovery. As an illustration, the ECOMARINE project, which the European Union (European Social Fund) and Greek national funds jointly funded, aims to build a thermoelectric energy recovery unit to enhance the quality of electrical energy and optimize power output through waste heat recovery. The main region in the world that has a strong preference for using renewable energy in Europe. For instance, according to Eurostat, the EU obtains nearly 17% of its power, 26% of its electricity for heating and cooling, and 6% of its energy for transportation from renewable sources. Additionally, Europe makes significant investments in total renewable energy due to the increased use of renewable electrical energy across a range of end-use industries and the region's growing demand for it. As a result, it is projected that this factor will increase regional demand for thermoelectric generators. Key players operating in the thermoelectric generators market are involved in adopting sustainable strategies to gain competitive edges such as new product launches, partnerships, collaborations, and agreements. Such as, NASA's Jet Propulsion Laboratory in California has scheduled and will test the Mars 2020 rover mission launch in July 2020. The rover is planned to land on Mars in 2021. The spacecraft's lander is run by the multi-mission radioisotope thermoelectric generator (MMRTG). The objective of the report is to present a comprehensive analysis of the global Thermoelectric Generators Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Thermoelectric Generators Market dynamic, and structure by analyzing the market segments and projecting the Thermoelectric Generators Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Thermoelectric Generators Market make the report investor’s guide.

Thermoelectric Generators Market Scope: Inquire before buying

Global Thermoelectric Generators Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 511.4 Mn.
Forecast Period 2022 to 2029 CAGR: 12.64 % Market Size in 2029: US$ 1325.2 Mn.
Segments Covered: by Material • Bismuth Telluride • Lead Telluride • Others
by Application • Waste Heat Recovery • Energy Harvesting • Direct Power Generation • Co-generation
by End-use Industry • Automotive • Aerospace • Industrial • Consumer • Healthcare

Thermoelectric Generators Market by Region

• North America • Europe • The Asia Pacific • The Middle East and Africa • South America

Thermoelectric Generators Market Key Players:

• GENTHERM, INC. • II-VI INCORPORATED • FERROTEC CORPORATION • LAIRD THERMAL SYSTEM • TECTEG MFR • KOMATSU LTD. • YAMAHA CORPORATION • TOSHIBA CORPORATION • MAHLE GROUP • MURATA MANUFACTURING CO. LTD • CUI DEVICES • ANALOG DEVICES • FAURECIA • KYOCERA CORPORATION • TEC MICROSYSTEMS • RIF CORPORATION • PHONONIC INC. • RMT LTD • KRYOTHERM • EVERREDTRONICS LTD. • HI-Z TECHNOLOGY • KELK LTD. • PERPETUA POWER SOURCE TECHNOLOGIES, INC. • PRODUCT/SOLUTIONS/SERVICES OFFERED • ALIGN SOURCING LLC • TELEDYNE ENERGY SYSTEMS, INC. Frequently asked questions: 1. What is the market growth of the Thermoelectric Generators Market? Ans. The Thermoelectric Generators Market was valued at USD 511.4 Mn in 2021 and is expected to reach USD 1325.2 Mn by 2029, at a CAGR of 12.64 % during the forecast period. 2. Which are the major key players in the Thermoelectric Generators Market? Ans. The key players in this market GENTHERM, INC., II-VI INCORPORATED and FERROTEC CORPORATION 3. Which region is anticipated to account for the largest market share? Ans. North America is anticipated to dominate the Thermoelectric Generators Market, 4. what is the forecast period for the Thermoelectric Generators Market? Ans. The forecast period for the Thermoelectric Generators Market is from 2022 to 2029. 5. what is the segment in which the Thermoelectric Generators Market is divided? Ans. The Thermoelectric Generators Market is fragmented based on Material, End-use Industry, and Application.
1. Global Thermoelectric Generators Market: Research Methodology 2. Global Thermoelectric Generators Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Thermoelectric Generators Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Thermoelectric Generators Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Thermoelectric Generators Market Segmentation 4.1. Global Thermoelectric Generators Market, By Material (2021-2029) • Bismuth Telluride • Lead Telluride • Others 4.2. Global Thermoelectric Generators Market, By Application (2021-2029) • Waste Heat Recovery • Energy Harvesting • Direct Power Generation • Co-generation 4.3. Global Thermoelectric Generators Market, By End-use Industry (2021-2029) • Automotive • Aerospace • Industrial • Consumer • Healthcare 5. North America Thermoelectric Generators Market (2021-2029) 5.1. North America Thermoelectric Generators Market, By Material (2021-2029) • Bismuth Telluride • Lead Telluride • Others 5.2. North America Thermoelectric Generators Market, By Application (2021-2029) • Waste Heat Recovery • Energy Harvesting • Direct Power Generation • Co-generation 5.3. North America Thermoelectric Generators Market, By End-use Industry (2021-2029) • Automotive • Aerospace • Industrial • Consumer • Healthcare 5.4. North America Thermoelectric Generators Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Thermoelectric Generators Market (2021-2029) 6.1. European Thermoelectric Generators Market, By Material (2021-2029) 6.2. European Thermoelectric Generators Market, By Application (2021-2029) 6.3. European Thermoelectric Generators Market, By End-use Industry (2021-2029) 6.4. European Thermoelectric Generators Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Thermoelectric Generators Market (2021-2029) 7.1. Asia Pacific Thermoelectric Generators Market, By Material (2021-2029) 7.2. Asia Pacific Thermoelectric Generators Market, By Application (2021-2029) 7.3. Asia Pacific Thermoelectric Generators Market, By End-use Industry (2021-2029) 7.4. Asia Pacific Thermoelectric Generators Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Thermoelectric Generators Market (2021-2029) 8.1. Middle East and Africa Thermoelectric Generators Market, By Material (2021-2029) 8.2. Middle East and Africa Thermoelectric Generators Market, By Application (2021-2029) 8.3. Middle East and Africa Thermoelectric Generators Market, By End-use Industry (2021-2029) 8.4. Middle East and Africa Thermoelectric Generators Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Thermoelectric Generators Market (2021-2029) 9.1. South America Thermoelectric Generators Market, By Material (2021-2029) 9.2. South America Thermoelectric Generators Market, By Application (2021-2029) 9.3. South America Thermoelectric Generators Market, By End-use Industry (2021-2029) 9.4. South America Thermoelectric Generators Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. GENTHERM, INC. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. II-VI INCORPORATED 10.3. FERROTEC CORPORATION 10.4. LAIRD THERMAL SYSTEM 10.5. TECTEG MFR 10.6. KOMATSU LTD. 10.7. YAMAHA CORPORATION 10.8. TOSHIBA CORPORATION 10.9. MAHLE GROUP 10.10. MURATA MANUFACTURING CO. LTD 10.11. CUI DEVICES 10.12. ANALOG DEVICES 10.13. FAURECIA 10.14. KYOCERA CORPORATION 10.15. TEC MICROSYSTEMS 10.16. RIF CORPORATION 10.17. PHONONIC INC. 10.18. RMT LTD 10.19. KRYOTHERM 10.20. EVERREDTRONICS LTD. 10.21. HI-Z TECHNOLOGY 10.22. KELK LTD. 10.23. PERPETUA POWER SOURCE TECHNOLOGIES, INC. 10.24. PRODUCT/SOLUTIONS/SERVICES OFFERED 10.25. ALIGN SOURCING LLC 10.26. TELEDYNE ENERGY SYSTEMS, INC.

About This Report

Report ID 29591
Category Engineering Equipment
Published Date Aug 2022
Updated Date
Contact Us