Global Thermoelectric Generator Market by Source, Vertical, Component, Wattage, Material, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

The global thermoelectric generator market was valued at USD 460 million in 2019 and is expected to reach USD 741 million by 2026, expanding at a CAGR of around 8.3% during the forecast period, 2020–2026.

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Thermoelectric generators are solid state devices that help convert heat into electrical energy. As the temperature difference on the sides increases, the performance of a thermoelectric generator also increases. It is assumed that when more heat is enforced through thermo electric legs, their performance increases. Therefore, these generators help minimize heat losses and confine the heat transport through thermoelectric legs. Thermoelectric generators are generally used as waste heat recovery systems for solar thermoelectric power generators and the automobile industry.

Market Trends, Drivers, Restraints, and Opportunities:

Technological and material advancement and increasing need for clean energy are some of the key trends driving the growth of the thermoelectric generator market and thus fueling the growth of the market.
Rapid commercialization of thermoelectric generators in the automotive industry, and increasing demand for miniaturized TEGs are factors which drive the growth of the market.
Rising adoption of decarbonization technologies for greenhouse gas emissions is expected to be the primary factor driving the thermoelectric generators market.
Increasing demand for fuel efficiency and stringent emission regarding carbon from the government has boosted the market for thermoelectric generator.
Highinitial and installation costs, is a key restraint of the market.
Low efficiency of the thermoelectric generator, is a key factor which hampers the market growth.
Inefficiency to generate high output power is expected to restrict the growth of the market.
Developing thermoelectric generators with lightweight materials and further research and development are the positive trends that is going to foster the growth of the market during the forecast period.

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Competitive Landscape:

Some of the prominent players in the global thermoelectric generator market include Gentherm, Inc. (US), II-VI Marlow, Inc. (US), Ferrotec Corporation (Japan), Laird plc (UK), Komatsu Ltd. (Japan), among others.

The Global Thermoelectric Generator Market has been segmented on the basis of:

Source

Waste Heat Recovery
Energy Harvesting
Direct Power Generation
Co-Generation

Vertical

Automotive
Aerospace
Defence
Industrial
Consumer
Healthcare
Oil & Gas
Mining
Telecommunications

Component

Heat Source
Thermoelectric Module
Cold Side
Electric Load

Wattage

Low Power (<10 W)
Medium Power (10–1KW)
High Power (> 1KW)

Temperature

Low Temperature (<80°C)
Medium Temperature (80°- 500°C)
High Temperature (> 500°C)

Material

Bismuth Telluride
Lead Telluride
Others (Others include manganese (CMO), tin selenide (SnSe), silicon germanium (SiGe), clathrate, and skutterudite)

Regions

North America
Europe
Asia pacific
Latin America
Middle East & Africa

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Table of Contents

Executive Summary
Assumptions and Acronyms Used
Research Methodology
Thermoelectric Generator Market Overview
Global Thermoelectric Generator Market Analysis and Forecast by Type
Global Thermoelectric Generator Market Analysis and Forecast by Application
Global Thermoelectric Generator Market Analysis and Forecast by Sales Channel
Global Thermoelectric Generator Market Analysis and Forecast by Region
North Thermoelectric Generator Market Analysis and Forecast
Latin Thermoelectric Generator Market Analysis and Forecast
Europe Thermoelectric Generator Market Analysis and Forecast
Asia Pacific Thermoelectric Generator Market Analysis and Forecast
Middle East & Africa Thermoelectric Generator Market Analysis and Forecast
Competition Landscape

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