Thermoelectric Generators Market Forecast, 2020-2025


Posted March 25, 2021 by sandycool

Thermoelectric Generator Market is likely to extend from USD 480 million in 2020 to USD 741 million in 2025, developing with a CAGR of 8.3% during the conjecture period.
 
Thermoelectric Generators Market is likely to extend from USD 480 million in 2020 to USD 741 million in 2025, developing with a CAGR of 8.3% during the conjecture period.

The thermoelectric generator is also called a See beck generator. It is a semiconductor device that converts heat into electrical energy through a phenomenon called the seebeck effect or thermoelectric effect. It is mainly used as a portable power source to charge and operate various pads, phones, 12v batteries, small refrigerators when traveling long distances and in remote campsites. Thermoelectric generators are mainly used as off-grid

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The thermoelectric generators could be used in power plants to convert waste heat into electrical energy, which is driving the growth of the thermoelectric generator market. Thermoelectric generators are gaining popularity because they are environmentally friendly and produce electric power at zero cost. In addition, the growing concern about renewable energy sources is driving the market demand for thermoelectric generators. However, the high cost of the generator and the low efficiency may slow the market growth.

The growing demand for waste heat recovery systems, along with increasing global warming, is expected to drive the market demand for thermoelectric generators. In addition, strict government regulations and increasing industrial automation around the world are supposed to fuel the market demand for thermoelectric generators during the forecast period.

Recent Developments:

In March 2014, Gentherm, Inc. announced the launch of a new thermal air conditioning system, as well as an air conditioning system for beds and household furniture.

In December 2014, TECTEG MFR, the other manufacturer of thermoelectric generators, signed an agreement with TKB Industrial, to develop maximum power tracking and intelligent charge controller for the thermoelectric generator battery system to achieve better performance. Energetic.

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Thermoelectric Generator Market segmentation:
The global market for thermoelectric generators has been segmented based on application, temperature, power, material, vertical, component, and key region.

Based on the application, the market is segmented into waste heat recovery, energy harvesting, direct power generation, and cogeneration.

Depending on the temperature, the market is segmented into low temperature ( 500 ° C).

On the basis of power, the market is segmented into low power ( 1 kW).

On the basis of the material, the market is segmented into bismuth telluride, lead telluride and others.

Based on Vertical, the market is further segmented into Automotive, Defense, Industrial, Consumer, Healthcare, Oil and Gas, Mining and Telecommunications.

Based on the components, the market is segmented into heat source, thermoelectric module, cold side and electrical load.

Regional Analysis:

By region, the global thermoelectric generators market is spread across Europe, Asia Pacific, Middle East and Africa, North America and Latin America. Of these, North America accounts for the significant portion of the worldwide market, with the major contribution from the United States of America. The Asia Pacific region is estimated to develop with a notable CAGR in the coming years, owing to the increasing investments from the governments in countries like India, China, etc.

Key market players:

Some of the main players operating in the global thermoelectric generators market are Gentherm, Inc., II-VI Marlow, Inc., Ferrotec Holdings Corporation, Laird plc, KELK Ltd., Yamaha Corp., Evident Thermoelectrics, Alphabet Energy, Phononic Devices and Thermo Electric Company, Inc.
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Last Updated March 25, 2021