Thermoelectric Generator Market Is Expecting Revolutionary Growth of 14 % CAGR | Global Industry Sales Revenue, Competitive Landscape, Future Prospects by Forecast 2022
Thermoelectric generator converts the heat into electrical energy. Increasing demand for fuel efficiency and stringent emission regarding carbon from the government has boosted the market for thermoelectric generator. Automotive segment has largest share in the thermoelectric generator market, due to increase in the automotive manufacturing across the globe. The growth in global thermoelectric generators market is likely to be challenged by factors such as high price and low efficiency of the thermoelectric generator. The global thermoelectric generator market is expected to show a growth at CAGR of about 14% from 2016 to 2022.
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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.
Industry Top Key Players:-
• Gentherm, Inc.
• II-VI Incorporated
• Ferrotec Corporation
• Laird PLC
• Komatsu Limited
• Yamaha Corporation
• Evident Thermoelectrics
• Alphabet Energy
• 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
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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