Thermoelectric Generator Market to Increase at 11.8% CAGR, Reaching $1443.3 Million by 2030
WILMINGTON, DE , UNITED STATES, July 3, 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.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ : 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
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: 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.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
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.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/2414
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
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
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
![](https://www.einpresswire.com/tracking/article.gif?t=2&a=w0u3r8fkJiguRtg7&i=6XGVB4pXqq9vabsr)