Thermoelectric Generator Market is slated to increase at a CAGR of 11.8% to reach a valuation of $1443.3 million by 2030

WILMINGTON, DE , UNITED STATES, May 27, 2024 /EINPresswire.com/ -- The global thermoelectric generators market size was valued at $472.5 million in 2020, and is projected to reach $1443.3 million by 2030, growing at a CAGR of 11.8% from 2021 to 2030.

Temperature differences are converted into electrical energy by thermoelectric generators. The seebeck effect and the Peltier effect are two key physical phenomena involved in this process. The seebeck effect describes the conversion of temperature differential into electric current at the interface of two materials, whereas the Peltier effect is the opposite of the seebeck effect. Thermoelectric materials turn temperature differences into electric voltage to create electricity directly from heat. To be acceptable for the thermoelectric conversion process, these materials must have both high electrical conductivity and low heat conductivity.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/2414

Thermoelectric generators and thermoelectric materials that were previously utilized primarily in niche applications are now gaining high popularity with the introduction of wider automotive applications and the efforts to exploit waste-heat-recovery technologies. Thermoelectric generators are not only highly reliable and durable but they are also environmental-friendly, as they do not include chemical products. These factors are collectively contributed toward the global thermoelectric generators market growth. Moreover, surge in demand for energy across various end-user industries such as automobile, aerospace, and defense and rise in concerns about environmental and emissions issues, particularly global warming, have propelled the demand for thermoelectric generators.

The global thermoelectric generators market is segmented on the basis of material, application, end-use industry, and region. Based on the material, the global thermoelectric generators market is segmented into bismuth telluride, lead telluride and others. The bismuth telluride segment accounted for the largest share in 2020 and projected to witness growth at the highest CAGR of 12.0%.

Key Market Segments

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
By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
Spain
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/f80ab4e712a2d446495b5632e1d4f061

Based on the application, the global thermoelectric generators market is segmented into waste heat recovery, energy harvesting, direct power generation and co-generation. The waste heat recovery segment accounted for the largest share in 2020 and projected to witness growth at the highest CAGR of 12.4%.

End-use Industry of thermoelectric generators includes automotive, aerospace, industrial, consumer and healthcare. The aerospace segment accounted for the largest share of the thermoelectric generators market in 2020, while Industrial segment is projected to witness growth at the highest CAGR of 12.4%.

Region wise, the thermoelectric generator market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share of the market in 2020, while Asia-Pacific was the fastest growing region.

The global thermoelectric generators industry is consolidated in nature with a few players, such as Gentherm, Inc., Ferrotec Holdings Corporation, Yamaha Corp., Thermo Electric Company, Inc., Laird Thermal Systems, Komatsu Ltd., Kyocera Corporation, Phononic Devices, Evident Thermoelectrics, and II-VI Marlow, Inc., which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

On the basis of material, the bismuth telluride segment emerged as the global leader by acquiring more than 66% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
On the basis of application, the waste heat recovery segment emerged as the global leader by acquiring more than 46% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
On the basis of end-use industry, the Aerospace segment emerged as the global leader by acquiring more than 26% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
On the basis of region, North America is the major consumer of thermoelectric generators among other regions. It accounted for around 39% of the global market share in 2020.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/2414

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

YAMAHA CORPORATION CO., LTD.
KYOCERA Corporation
Gentherm, Inc.
Global power technologies
Laird Thermal Systems
Komatsu Ltd.
TEC Microsystems GmbH
Phononic
Ferrotec Holdings Corporation

David Correa
Allied Market Research
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