All updated as on -
In 2020, the global market for thermoelectric generators was worth $472.9 mln. This number is expected to increase to $1443.8 mln. by 2030, for a CAGR of 12.8% between 2023 and 2030. A thermoelectric generator is an all-solid-state apparatus for generating electricity from thermal energy. Thermoelectric phenomena, in which heat and electricity interact as they move through a solid, are the basis for such gadgets. In thermoelectric generators, p-type and n-type elements are employed to facilitate the movement of electrons, which in turn generates electric current. Unlike typical heat engines, these generators don't make any noise because they don't use any moving parts. These generators are an affordable, low-maintenance, and environmentally friendly alternative to traditional fossil fuel power plants.
Thermoelectric generators are used in a wide range of industries because they are long-lasting, dependable, and safe for the environment (they don't utilise any harmful chemicals). More and more initiatives for managing greenhouse emissions and stricter government regulations for cutting carbon emissions are serving as growth catalysts for the worldwide thermoelectric generators market. Capital investments across sectors have been significantly impacted as a result of the lockdown limitations enforced by governments in response to the COVID-19 outbreak. The market for thermoelectric generators has dropped significantly over this time. This is mostly due to falling demands across several end-use markets, including consumer electronics, transportation, aircraft, and industry.
About 1.2 billion people, or 17% of the world's population, do not have access to a reliable energy supply since they live in underdeveloped countries. The majority of rural communities rely on biomass for their energy needs. The cost of installing new power lines and electrical distribution over vast distances makes grid connection of communities and residences without electricity a costly endeavour. TEGs provide a viable alternative, producing enough power for a few lights, a phone charger, and some electric extractors. When the TEG is included, the combustion efficiency is improved, making up for the TE modules' lacklustre performance. The energy produced by burning 5-10 kg of wood for 3 hours is around 17-34 kW h. Improving this combustion has a much larger impact on reducing global energy use than the 5-30 W produced by the TEG. Because of the difficulty of performing routine maintenance in these outlying places, the primary goals of the TEG's design are to supply enough energy to run the extractors, charge any phones present, and power the lights.
In some cases, the initial cost per watt of electrical power generation from thermoelectric generators is higher than that of energy conversion technologies. Several thermoelectric materials with high figures of merit or ZT are expensive or difficult to sell, making their practical use in thermoelectric generators difficult. For example, the Plutonium 239 isotope used for RTGs costs about USD 6 million for 6 kg and has to be imported from Russia. Furthermore, their packaging must adhere to stringent shipping rules. However, depending on the context, the lifetime cost of a thermoelectric generator can be cheaper than that of other technologies despite the high initial investment. A thermoelectric generator has a low total cost of ownership since it requires no regular maintenance. While there exists a fair quantity of information regarding the module production of thermoelectric generators, the lack of readily available design and engineering experience hinders their efficient implementation. Less widespread adoption is a direct effect of this, as is the efficiency gained and the expense incurred.
Report Coverage
Global Thermoelectric Generator research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Thermoelectric Generator report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Thermoelectric Generator competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Thermoelectric Generator market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Thermoelectric Generator market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Thermoelectric Generator market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Gentherm, Inc., II-VI Incorporated, Ferrotec Corporation, Laird PLC, Komatsu Limited, Yamaha Corporation, Evident Thermoelectrics, Tecteg, Alphabet Energy, and Tellurex Corporation
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Thermoelectric Generator market based on the below-mentioned segments:
Global Thermoelectric Generator Market, By Component
Heat Source
Thermoelectric Module
Cold Side
Electric Load
Global Thermoelectric Generator market, By Application
Waste Heat Recovery
Energy Harvesting
Direct Power Generation
Co-generation
Global Thermoelectric Generator Market, By End User
Automotive
Aerospace & Defence
Industrial
Sensors
Others
Global Thermoelectric Generator market, Regional Analysis
Thermoelectric generators are used in a wide range of industries because they are long-lasting, dependable, and safe for the environment (they don't utilise any harmful chemicals). More and more initiatives for managing greenhouse emissions and stricter government regulations for cutting carbon emissions are serving as growth catalysts for the worldwide thermoelectric generators market. Capital investments across sectors have been significantly impacted as a result of the lockdown limitations enforced by governments in response to the COVID-19 outbreak. The market for thermoelectric generators has dropped significantly over this time. This is mostly due to falling demands across several end-use markets, including consumer electronics, transportation, aircraft, and industry.
About 1.2 billion people, or 17% of the world's population, do not have access to a reliable energy supply since they live in underdeveloped countries. The majority of rural communities rely on biomass for their energy needs. The cost of installing new power lines and electrical distribution over vast distances makes grid connection of communities and residences without electricity a costly endeavour. TEGs provide a viable alternative, producing enough power for a few lights, a phone charger, and some electric extractors. When the TEG is included, the combustion efficiency is improved, making up for the TE modules' lacklustre performance. The energy produced by burning 5-10 kg of wood for 3 hours is around 17-34 kW h. Improving this combustion has a much larger impact on reducing global energy use than the 5-30 W produced by the TEG. Because of the difficulty of performing routine maintenance in these outlying places, the primary goals of the TEG's design are to supply enough energy to run the extractors, charge any phones present, and power the lights.
In some cases, the initial cost per watt of electrical power generation from thermoelectric generators is higher than that of energy conversion technologies. Several thermoelectric materials with high figures of merit or ZT are expensive or difficult to sell, making their practical use in thermoelectric generators difficult. For example, the Plutonium 239 isotope used for RTGs costs about USD 6 million for 6 kg and has to be imported from Russia. Furthermore, their packaging must adhere to stringent shipping rules. However, depending on the context, the lifetime cost of a thermoelectric generator can be cheaper than that of other technologies despite the high initial investment. A thermoelectric generator has a low total cost of ownership since it requires no regular maintenance. While there exists a fair quantity of information regarding the module production of thermoelectric generators, the lack of readily available design and engineering experience hinders their efficient implementation. Less widespread adoption is a direct effect of this, as is the efficiency gained and the expense incurred.
Report Coverage
Global Thermoelectric Generator research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Thermoelectric Generator report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Thermoelectric Generator competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Thermoelectric Generator market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Gentherm, Inc., II-VI Incorporated, Ferrotec Corporation, Laird PLC, Komatsu Limited, Yamaha Corporation, Evident Thermoelectrics, Tecteg, Alphabet Energy, and Tellurex Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Thermoelectric Generator Market from 2021 to 2030.
- Market Forecast for Thermoelectric Generator Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Thermoelectric Generator competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Thermoelectric Generator
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Thermoelectric Generator market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Thermoelectric Generator market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Gentherm, Inc., II-VI Incorporated, Ferrotec Corporation, Laird PLC, Komatsu Limited, Yamaha Corporation, Evident Thermoelectrics, Tecteg, Alphabet Energy, and Tellurex Corporation
Primary Target Market
- Market Players of Thermoelectric Generator
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Thermoelectric Generator market based on the below-mentioned segments:
Global Thermoelectric Generator Market, By Component
Heat Source
Thermoelectric Module
Cold Side
Electric Load
Global Thermoelectric Generator market, By Application
Waste Heat Recovery
Energy Harvesting
Direct Power Generation
Co-generation
Global Thermoelectric Generator Market, By End User
Automotive
Aerospace & Defence
Industrial
Sensors
Others
Global Thermoelectric Generator market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive thermoelectric generator market market research and competitor analysis for your business to help you develop more profound insights into the thermoelectric generator market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the thermoelectric generator market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.