Thermoelectric Generator Market Will Grow at CAGR of 14.5% by 2021

New York, February 20: Market Research Engine has published a new report titled as “Global Thermoelectric Generators Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2021”.

The global market for thermoelectric generators is estimated to be US$ 320 million and is projected to grow to US$ 720 million with an impressive growth rate of14.5% from 2015 to 2021.

Browse the full report: https://www.marketresearchengine.com/reportdetails/thermoelectric-generators-market-research-report

Renewable energy is playing a major role in the electricity generation in current scenario, according to a report by Market Research Engine. Considering the life span and cost of non-rentable resources of energy, the demand of renewable resources is highly increasing.

Thermoelectric generators are one of the devices using renewable energy i.e. heat to produce electricity. It can also be used otherwise too. Thermoelectric generators (TEG) are solid state devices which convert temperature difference between two materials into electrical energy. Thermoelectric generators (TEG) are based on the principal of See beck effect.

Certain applications like automotive, aerospace, semiconductor networks are more likely to use power sources which have less maintenance and are low in cost. Durability also plays a crucial role in fitting the power source for places which are hostile and out of reach. TEGs perfectly fit in these places providing high reliability and greater efficiency. These low cost compact devices are more in demand because of its solid state adding advantage at immobile locations, durability and reliability and increased greenhouse effect.

North America is expected to capture more than two third of the market in current scenario and is projected to keep its supremacy over the forecast period. However, Asia Pacific and European countries are projected to grow at relatively higher growth rate.

The report gives a 360 degree analysis of the market covering the growth drivers, growth inhibitors, value chain analysis, new product launches and the market perspective of the global thermoelectric generator.

The major use of thermoelectric generators is expected from automotive end users. This segment is expected to grab more than half of the market for thermoelectric generators. Aerospace and industrial heat closely accounts the second and third position. Use of TEGs in space applications will continue to attract market demand.

This industry has limited manufacturers, mostly tier II or III. This market is led by U.S. manufacturer Gent herm Inc. having commanding market share of more than one fourth of the market value. Other companies involved are EVERREDtronics,Ferrotec, green TEG, GMZ Energy, Laird Plc, Micro pelt, Tellurex, ThermolifeEnergy Corporation, Yamaha Corp, Alphabet Energy, TECTEG MFR, Red Hawk Energy Systems, Komatsu Corp. and others.

Download Free Sample Report: https://www.marketresearchengine.com/requestsample/thermoelectric-generators-market-research-report

Segmentations in Report:

• Thermoelectric Generators By Application

Automotive
Industrial
Sensors
Wearable
Others

• Thermoelectric Generators By Power:

1KW

• Thermoelectric Generators By Temperatures

1K degree C

• Thermoelectric Generators By Material

Si-Ge
Bi-Te
Pb-Te
Others

• Thermoelectric Generators By Controller

Single Directional
Bi Directional
Multi Directional

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