Thermoelectric Generators Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2022 to 2028. It also offers accurate overview of the growth strategies, market size, mergers & acquisitions, and upcoming products/services of leading key players in this market.
Market Insights
The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The Thermoelectric Generators Market is expected to grow from USD 426.3 million in 2021 to USD 798.42 million by 2028 at a CAGR of over 9.32% during the forecast period of 2022-2028. 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.
Market Segments' Analysis
According to Stratview Research, the Thermoelectric Generators Market is segmented By Material (Bismuth Telluride, Lead Telluride, Others), Wattage (<10 W, 10W – 1 kW, >1kW), Application (Waste Heat Recovery, Consumer Harvesting, Direct Power Generation, Co-generation), End User (Automotive, Aerospace, Defense, Industrial, Consumer, Others) and Region.
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.
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.
Top key vendors in the market:
The report mentions a list of key players in the Thermoelectric Generators Market. Some of them are mentioned below –
- 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).
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