Thermoelectric Generators Market worth $1,233 Million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 10, 2023 /PRNewswire/ -- The Thermoelectric Generators Market is projected to grow from USD 761 Million in 2022 to USD 1,233 Million by 2027, at a CAGR of 10.1% from 2022 to 2027 according to a new report by MarketsandMarkets™. The market growth can be attributed to the rising demand for durable and maintenance-free power sources.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=91553904

Browse in-depth TOC on "Thermoelectric Generators Market" 
291 – Tables
55 – Figures
283 – Pages

With the rising demand for energy and accurate temperature control in microdevices, thermoelectric technology, which can transform heat into electricity and vice versa, has drawn global attention to power generation and solid-state cooling. This technology uses thermal sources to generate electrical power across various applications ranging from terrestrial to space exploration. Thermoelectric technology can be used for solid-state refrigeration or power generation applications through the large Peltier effect in thermoelectric materials. An efficient thermoelectric material must have a large Seebeck coefficient, a low resistivity, and low thermal conductivity to generate power.

Thermoelectric generators and thermoelectric materials that were previously utilized primarily in niche applications are now becoming more popular with the introduction of wider automotive applications and the efforts to exploit waste-heat-recovery technologies. The soaring costs of fossil fuels have prompted the creation of a program between the Energy Efficiency and Renewable Energy office of the US Department of Energy and numerous automotive manufacturers to integrate thermoelectric waste-heat-recovery technology in the design layout of heavy trucks. In fact, without such systems, greater than 60% of the primary energy of fossil fuels is lost worldwide as impractical waste energy; the loss is as great as 70% in some automobiles.

Based on application, the waste heat recovery segment to held largest share in the base year

Based on application, the thermoelectric generators market is segmented into energy harvesting, waste heat recovery, direct power generation, and co-generation. The waste heat recovery application is expected to lead the market for TEGs during the forecast period, driven by the increasing trend of electrification of automobiles. This trend will help increase the demand for TEGs, which produce electricity from the waste heat from automobiles.

Based on vertical, automotive segment projected to lead market during forecast period

Based on vertical, the thermoelectric generators market is segmented into automotive, aerospace & defense, marine, industrial, consumer, healthcare, oil & gas, mining, and telecommunications. The automotive industry is expected to registered the largest share in the base year. This large share is due to increased adoption of automotive thermoelectric generators (ATEG). In the automotive industry, thermoelectric generators convert the waste heat from an internal combustion engine into electricity. Automotive thermoelectric generators consist of four main elements: hot side heat exchanger, cold side heat exchanger, thermoelectric materials, and compression assembly system. Thermoelectric generators can act as substitute batteries to power vehicle lights and other electronic devices, and they require minimal maintenance. With the increasing number of vehicles, the market for TEGs is expected to grow across regions. However, their high cost is a major constraint to the growth of the market. Currently, they are available in high-end cars.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=91553904

North America is expected to register largest share in 2021.

Based on geography, the thermoelectric generator market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North America contributed the largest share in the thermoelectric generator market in 2021. The growth of the thermoelectric generators market in North America is primarily driven increased use of TEGs across healthcare, space, and automotive sectors.

The major players in the thermoelectric generator market are Coherent Corp. (US), Gentherm Inc. (US), Ferrotec Holdings Corporation (Japan), Laird Thermal Systems, Inc. (UK), and Komatsu Ltd. (Japan)

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=91553904 

Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting

Related Reports:

Aircraft Heat Exchanger Market by Application (Environmental Control System and Engine System), Type (Plate-Fin, Flat Tube), Vendor (OEM, Aftermarket), Platform (Fixed-Wing Aircraft, Rotary-Wing Aircraft, and UAVS), and Region (2021-2026)

Aircraft Propeller System Market By Type (Fixed Pitch, Variable Pitch), Component (Blade, Spinner, Hub), Engine (Conventional, Hybrid & Electric), Platform (Civil, Military), End Use (OEM, Aftermarket), & Region (2021-2026)

Environmental Control Systems Market by End User (Commercial, Defense), Platform (Rotary, Fixed), System (Air Supply & Management, Thermal Management & Control, Cabin Pressure & Control), Component, and Region - Global Forecast to 2022

Aerospace Valves Market by Aircraft Type, End Use (OEM, Aftermarket), Type, Application (Fuel System, Hydraulic System, Environment Control System, Pneumatic System, Lubrication System, Water & Wastewater System) Material, Region (2021-2026)

Aircraft Fuel Systems Market by Application (Commercial, Military and UAV), Engine Type (Jet engine, Turboprop engine, Helicopter engine and UAV engine), Component, Technology & Region - Global Forecasts to 2020

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/thermoelectric-generators-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/thermoelectric-generators.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets