Thermoelectric Generator Market 2018: Global Industry Current Research Scenario, Demand, Trends and Analysis 2022

Market Highlights:-

Thermoelectric generators are the solid state devices that convert heat into electricity with the help of temperature difference. These generators do not have any moving parts and are fully silent unlike the traditional heat engines. Thermoelectric generators have been used consistently for more than 30 years with no maintenance operation in space analysis such as in the voyager missions of NASA. NASA in collaboration with the Department of Energy has been developing a new power system that could be used in various space missions. The new radioisotope thermoelectric generator (RTG), which is called a Multi-Mission RTG (MMRTG), is being designed for operating in various planetary bodies such as Mars, as well as in vacuum space. Thus, with further technology advancements, thermoelectric generators are expected to see rise in demand in the long run.

The global thermoelectric generator market is a very dynamic market and is expected to witness high growth over the forecast period. A thermoelectric generator (TEG) is a device that is primarily used for energy generation. It can also be used as a heat pump. As energy generators, TEGs convert waste heat into electricity. As heat pumps, they transfer heat to a device from one side to the other. Therefore, TEGs are like heat engines but are compact in size, silent, and have no moving parts. TEGs have a longer operational life and have no maintenance requirements, which makes them a preferred choice for unmanned sites like offshore gas pipelines. As per the study conducted by Market Research Future, the global market for thermoelectric generator is likely to grow at the CAGR of around 14%.

Top Key Player:-

The key players of Global Thermoelectric generator Market report include- Gentherm, Inc., II-VI Incorporated, Ferrotec Corporation, Laird PLC, Komatsu Limited, Yamaha Corporation, Evident Thermoelectrics, Tecteg, Alphabet Energy, and Tellurex Corporation.

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Thermoelectric Generator Global Market – Segmentation

The scope of global thermoelectric generator market is segmented into four major segments which are explained below:

By Source - Waste Heat Recovery, Energy Harvesting, Direct Power Generation and Co-generation

By Material- Bi-Te, Pb-Te and Others

By Power - 1kW

By Temperature- 500°C

By End-User- Automotive, Aerospace & Defence, Industrial, Consumer and Others

Industry News

In December, 2017 – Global technology leader Laird (LRD: London) developed a thermoelectric module (TEM) that accommodates a laser diode butterfly package. Primarily used to stabilize the temperature of sensitive optical components in telecom and photonics industries

In November, 2017 – Gentherm (NASDAQ-GS:THRM), the global market leader and developer of innovative thermal management technologies, announced that it has acquired Etratech Enterprises, Inc. for approximately USD 64 million in an all cash transaction. Etratech, based in Burlington, Canada, specializes in the design, development, and manufacturing of advanced electronic controls and control systems for the Automotive, RV and Marine, Security, Medical and other industries.

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Regional Analysis of Global Thermoelectric generator Market
North American region held the largest share of the global thermoelectric generator, followed by the Asia-Pacific. Asia-Pacific is expected to grow at highest CAGR for the thermoelectric generator market. Increased demand of thermoelectric generators by automotive industries to increase the fuel efficiency and increased industrialization in the region is expected to drive the thermoelectric generator market.

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