• Blog
  • Thermoelectric Generators Market Report

    Thermoelectric Generators Market Report

    Thermoelectric Generators Market Report
    Report code - SR1616 Delivery - 2 Weeks
    Get Free Sample |
    Thermoelectric Generators Market Size, Share, Trend, Forecast, & Industry Analysi See more...

    Market Insights

    What is a thermoelectric generator?

    The thermoelectric generator can be defined as a solid-state device that converts heat flux directly into electrical energy through the Seebeck effect. Thermoelectric generators have no moving parts and are less bulky. The materials used in thermoelectric generators include bismuth telluride, lead telluride, and others.

    The Thermoelectric Generators Market is expected to grow from USD 401.3 million in 2020 to USD 683.1 million by 2026 at a CAGR of over 9.5% during the forecast period.

    Thermoelectric Generators Market - Research Scope

    Base Year of Study

    2020

    Trend Period

    2015-2019

    Forecast Period

    2021-2026

    Market Size in 2020

    USD 401.3 million

    Market Size in 2026

    USD 683.1 million

    Market Growth (2021-2026)

    9.5% CAGR

     

    Figure: Thermoelectric Generators Market Size, 2020-2026 (USD Million)

    Thermoelectric-Generators-Market-Forecast

    Wish to get a free sample? Register Here

    Market Drivers

    The growth of the thermoelectric generators market is primarily driven by increasing product demand in numerous end-use industries including automotive and aerospace & defense among others. Expanding industrialization in developing countries is likely to add to the market growth substantially during the review period. In addition to this, rising investment in R&D activities to develop advanced thermoelectric generators is likely to create lucrative opportunities for the players operating in the global market in the coming years.

    COVID-19 Impact on Thermoelectric Generators Market

    The covid-19 outbreak posed significant challenges on the industrial sector across geographies. It impacted the growth of the thermoelectric generators market negatively as supply chain disruptions due to trade restrictions affected the product demand.

    Segments' Analysis

    End-User Trends

    Based on end-user, the market has been segmented into automotive, aerospace, defense, industrial, consumer and others. The automotive segment accounted for the largest market share in 2020 and is projected to register significant CAGR during the review period. The segment growth can be attributed to expanding automotive production across the globe.

    Regional Trends

    Geographically, the market in Asia-Pacific accounted for the largest market share in 2020 and is expected to register significant CAGR during the review period. The market growth can be attributed to expanding industrialization in developing countries, particularly China and India. The market in North America and Europe is expected to be driven by the established presence of automotive, industrial, and aerospace & defense industries.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Thermoelectric Generators market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026. Following are the critical questions answered in the report-

    • What are the key trends in the Thermoelectric Generators market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the Thermoelectric Generators market?
    • What are the key strategies adopted by the major vendors to lead in the Thermoelectric Generators market?
    • What is the market share of the top vendors?

    Get the full scope of the report. Register Here

    Key Players

    Key players operating in the Thermoelectric Generators Market are-

    • Gentherm Incorporated (US)
    • II-VI Incorporated (US)
    • Ferrotec Holdings Corporation (Japan)
    • Yamaha Corporation (Japan)
    • Laird plc (UK)
    • Komatsu Ltd (Japan)
    • kelk Ltd (US)
    • Evident Thermoelectrics (US)
    • Alphabet Energy (US)
    • EVERREDtronics (China)
    • GreenTEG AG (Switzerland)
    • Micropelt (Germany)
    • Perpetua Power Source Technologies, Inc. (US)
    • RedHawk Energy Systems, LLC (US)
    • TECTEG MFR (US)
    • Tellurex Corporation (US).

    Target Audience

    Here is the list of the group of customers that the thermoelectric generators market hopes to have the greatest opportunity to convert-

    • Thermoelectric generators manufacturers
    • Thermoelectric generators suppliers
    • Thermoelectric generators distributors
    • Organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The thermoelectric generators market is expected to witness an impressive growth of 9.5% CAGR in the coming years.

    Gentherm Incorporated (US), II-VI Incorporated (US), Ferrotec Holdings Corporation (Japan), Yamaha Corporation (Japan), Laird plc (UK), Komatsu Ltd (Japan), kelk Ltd (US), Evident Ther-moelectrics (US), Alphabet Energy (US), EVERREDtronics (China), GreenTEG AG (Switzerland), Micropelt (Germany), Perpetua Power Source Technologies, Inc. (US), RedHawk Energy Systems, LLC (US), TECTEG MFR (US) and Tellurex Corporation (US) are among the key players in the thermoelectric generators market.

    The thermoelectric generators market size is expected to reach USD 683.1 million in the foreseeable future.

    The automotive segment is expected to register significant growth in the thermoelectric generators market in the next five years.

    Asia-pacific accounted for the largest share in the thermodynamics generators market in 2020.

    Thermoelectric generators manufacturers, Thermoelectric generators suppliers, Thermoelectric generators distributors, Organizations, Government bodies are the target audience in the thermoelectric generators market.