Thermoelectric Generator Market Top Key Players Growth Strategy: Gentherm, Inc., II-VI Incorporated, Ferrotec Corporation, Laird PLC, Komatsu Limited, Yamaha Corporation, Evident Thermoelectrics, Tecteg

Thermoelectric Generator Global Market – Overview

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.

However, in large applications, thermoelectric generators have less efficiency than the traditional heat engines, which may hamper the market growth potential. Currently, they are highly preferred in small applications due to their cost effective, simple, compact as well as scalable nature. Thermoelectric phenomenon, on which these generators work, is extensively used for heating as well as cooling applications too. In recent years thermoelectric generators have also been used in various new applications of energy generation by thermoelectric harvesting. The new applications are varied which include industrial and terrestrial applications.

Top Key Players:

Gentherm, Inc., II-VI Incorporated, Ferrotec Corporation, Laird PLC, Komatsu Limited, Yamaha Corporation, Evident Thermoelectrics, Tecteg, Alphabet Energy, and Tellurex Corporation are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global thermoelectric generator market.

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Thermoelectric Generator Global Market - Competitive Analysis

The global market for thermoelectric generator seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders have undergone numerous product launches and acquisitions in order to increase their competitiveness in the thermoelectric generators market. Major players are investing on internal R&D and looking to expand their production facilities.


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.

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

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Thermoelectric Generator Global Market - Regional Analysis

Geographically, the global thermoelectric generator market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, North America is estimated to be the primary revenue generating region in the global thermoelectric generator market. The rise in demand for cleaner energy is expected to upsurge the demand for thermoelectric generators in North America. Europe is anticipated to show relatively fast growth over the forecast period. In APAC, India and China are expected to grow at a significant rate, owing to the increase in demand for vehicles, which in turn drives growth of the thermoelectric generator market.

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