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Global $741M Thermoelectric Generators Market 2019-2025 | Forecast by Application, Wattage, Temperature, Material, Vertical, Component, and Region

Dublin, Oct. 17, 2019 (GLOBE NEWSWIRE) -- The "Thermoelectric Generators Market by Application (Waste Heat Recovery, Energy Harvesting, Direct Power Generation, Co-generation), Wattage (<10 W, 10-1kW, >1kW), Temperature (<80°C, 80°- 500°C, >500°C, Material, Vertical, Component, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Thermoelectric Generators Market is expected to grow from US$ 460 million in 2019 to US$ 741 million by 2025, at a CAGR of 8.3%.

  • This study covers the thermoelectric generators market and aims at estimating the market size and growth potential across different segments, such as application, component, vertical, wattage, temperature, material, and region.
  • The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

The thermoelectric generators market comprises major solution providers, such as Gentherm, Inc. (US), II-VI Marlow, Inc. (US), Ferrotec Corporation (Japan), Laird plc (UK), Komatsu Ltd. (Japan). The study includes an in-depth competitive analysis of these key players in the thermoelectric generators market, with their company profiles, recent developments, and key market strategies.

Increasing demand for solid-state energy converters are expected to drive market growth

The major factors driving the Increasing demand for energy converters for thermoelectric generators in automobiles and recovering the waste heat generated by various industries.

The Medium power (10-1KW) wattage segment is projected to lead the market during the forecast period

Based on wattage, the thermoelectric generators market has been segmented into the Low power (<10 W), Medium power (10-1KW), and High power (> 1KW). Medium power (10-1KW) wattage plays a significant role in cogeneration plants and industrial applications for steam turbines. This steam turbine work as generator drives or as mechanical drives for compressors or pumps. Steam turbines are also often applied in the renewable energy sector. Such advancements are driving the demand for thermoelectric generators.

Automotive is projected to lead the thermoelectric generators market during the forecast period

Based on vertical, the automotive is expected to be the leading segment during the forecast period. A thermoelectric generator can substitute batteries to power various electronic equipment inside the car. Since these generators require very little maintenance, and there has been an increasing adoption of its vehicles, the market for thermoelectric generators is expected to grow in all regions.

However, advancements in thin-film and quantum well technologies could increase efficiency in the future. With the developments in technology, the automotive segment is expected to grow in the coming years.

The Europe, thermoelectric generators market, is projected to grow at the highest CAGR during the forecast period

The thermoelectric generators market in the Europe region is expected to grow at the highest CAGR during the forecast period. Major factors which are expected to drive the growth of European thermoelectric generators market include increasing concerns of European government towards the greenhouse gas emissions and new, stringent legislations related to the C02 emission from the vehicles registered in Europe.

Europe also has the highest number of car users per 1000 people with a large volume of automotive. The increasing trend for electrification and hybridization in automotive and rising interest from automotive OEM's in TEG technology is expected to increase the demand for thermoelectric generators.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Thermoelectric Generators Market
4.2 Thermoelectric Generators Market, By Component
4.3 Thermoelectric Generators Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increasing Demand for Solid-State Energy Converters Growth of Renewable Energy in Power Sector Requirement for Durable and Maintenance-Free Power Sources
5.2.2 Opportunities Increasing Adoption of Thermoelectric Generators Across Various Sector Growing Demand for Low-Power Generators in Sensor Networks
5.2.3 Challenges High Cost of Thermoelectric Materials Complex Design Modification of Thermoelectric Generators and Presence of Prominent Substitutes

6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Thermoelectric Generation Technology in Automobile
6.2.2 Radioisotope Thermoelectric Generators
6.2.3 Miniature Thermoelectric Generators
6.2.4 Wearable Thermoelectric Generators
6.2.5 Thermoelectric Generators in Aerospace and Defense Industries
6.2.6 Advancement in Thermoelectric Materials
6.3 Recent Funding in Thermoelectric Generators Market
6.4 Innovations and Patent Registrations

7 Thermoelectric Coolers
7.1 Introduction
7.2 Uses of Thermoelectric Coolers Across Verticals
7.2.1 Healthcare
7.2.2 Consumer Electronics
7.2.3 Automotive

8 Thermoelectric Generators Market, By Application
8.1 Introduction
8.2 Waste Heat Recovery
8.2.1 High Demand for Industrial Waste Heat Harvesting is Expected to Increase the Demand for Tegs
8.3 Energy Harvesting
8.3.1 Increasing Demand for Consumer and Healthcare Wearables Will Drive the Growth of the Thermoelectric Generator Market
8.4 Direct Power Generation
8.4.1 Increasing Demand for Thermoelectric Generators in Aerospace, Mining, and Industrial Sectors is Expected to Drive the Direct Power Generation During the Forecast Period
8.5 Co-Generation
8.5.1 Advancements in Industrial Co-Generation Systems Will Drive the Market for Tegs

9 Thermoelectric Generator Market, By Temperature
9.1 Introduction
9.2 Low Temperature (<80C)
9.2.1 Increasing Use of Wearable Devices in Both Commercial and Healthcare Applications is Driving the Low-Temperature Segment
9.3 Medium Temperature (80- 500C)
9.3.1 Mandate By Regulatory Authorities for Fuel Efficiency and Reduced Carbon Emissions is Driving the Medium Temperature Segment
9.4 High Temperature (> 500C)
9.4.1 Industrial Waste Heat is A Major Factor Driving the High-Temperature Segment

10 Thermoelectric Generator Market, By Wattage
10.1 Introduction
10.2 Low Power (<10 W)
10.2.1 Increasing Demand for Wearables and Backup Batteries is Fueling the Low Power Segment
10.3 Medium Power (10-1kW)
10.3.1 Increasing Use of Medium Power Applications for Automotive Waste Heat Recovery is Fueling the Growth of the Market for Tegs
10.4 High Power (> 1kW)
10.4.1 Increasing Requirement of High Power Tegs in Space Applications is Driving the High Power (>1kW) Segment

11 Thermoelectric Generator Market, By Material
11.1 Introduction
11.2 Bismuth Telluride
11.2.1 Bismuth Telluride is A Widely Used Thermoelectric Material
11.3 Lead Telluride
11.3.1 High Melting Point, Chemical Stability & Low Vapor Pressure are Major Factors Driving Lead Telluride Segment
11.4 Others

12 Thermoelectric Generator Market, By Vertical
12.1 Introduction
12.2 Automotive
12.2.1 Heating & Cooling The Demand for Tegs is Increasing in Heating and Cooling Applications
12.3 Aerospace
12.3.1 Spacecraft Power System Increasing Efficiency of Tegs is Increasing Its Adoption in Spacecraft Power Systems
12.3.2 Aircraft Environment Monitoring Sensors Increasing Demand for Wireless Sensor Networks in the Aerospace Industry is Driving the Aircraft Environment Monitoring Sensors Segment
12.4 Defense
12.4.1 Military Avionics Increase in the Demand for Waste Heat Recovery in Aircraft is Driving the Growth of the Military Avionics Segment
12.4.2 Infrared Detectors The Demand for Infrared Detectors Powered By Tegs is Increasing for Monitoring and Reconnaissance
12.4.3 Missile Testing Systems Increasing Demand for Tegs in Defense Applications is Expected to Drive the Missile Testing Systems Segment
12.5 Industrial
12.5.1 Manufacturing Increasing Use of Thermoelectric Generators for Industrial Waste Heat Recovery During Manufacturing Processes is Driving the Manufacturing Vertical
12.5.2 Chemical Processing Increasing Use of Tegs in Direct-Fired Reboilers and Reactors is Expected to Drive This Segment
12.6 Consumer
12.6.1 Wearable Growing Demand for Heart Monitoring Devices is Driving the Wearable Segment
12.6.2 Consumer Electronics Increasing Use of Energy Harvesting Consumer Electronics is Expected to Drive This Segment
12.7 Healthcare
12.7.1 Implantable Medical Devices Increasing Adoption of Tegs in Medical Devices for Harvesting Ambient Heat is Expected to Drive the Implantable Devices Segment
12.7.2 Wearable Medical Devices Various Applications of Wearable Medical Devices are Making Them Preferred in the Healthcare Sector
12.8 Oil & Gas
12.8.1 Condition Monitoring Sensors Increasing Demand for Gas Fuel Thermoelectric Generators (Gtegs) to Power Condition Monitoring Sensors is Driving the Condition Monitoring Sensors Segment
12.8.2 Meters & Gauges Increasing Demand for Renewable Energy in Remote Areas is Expected to Grow the Meters & Gauges Segment
12.9 Mining
12.9.1 Down-Hole Drilling Increasing Adoption of Tegs for Down-Hole Drilling Application is Expected to Drive the Down-Hole Drilling Segment
12.9.2 Process Monitoring Tegs are Used to Power It Infrastructure for Process Monitoring During Mining Activities
12.10 Telecommunications
12.10.1 Navigational Aids Increasing Demand for Navigational Aids in Remote Locations is Driving the Telecommunications Segment
12.10.2 Telecommunication Systems Requirement of Power Supply for Telecommunication Systems is Driving the Telecommunication Systems Segment

13 Thermoelectric Generator Market, By Component
13.1 Introduction
13.2 Heat Source
13.2.1 Increasing Trend Towards Vehicle Electrification and Hybridization for Sensors Will Boost the Demand for Heat Source Components
13.3 Thermoelectric Module
13.3.1 Increasing Use of Efficient Materials for Manufacturing Thermoelectric Modules is Increasing the Efficiency and the Demand for Tegs
13.4 Cold Side
13.4.1 Improvements in Cold Side Design is Increasing the Electricity Conversion Capacity of Tegs
13.5 Electric Load
13.5.1 Increasing Demand for Efficient Electric Load Devices for Electricity Conversion is Fueling the Market for Tegs

14 Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 US Increase in Demand for Thermoelectric Generators for Waste Heat Recovery in the Automotive Industry is Driving the Market in the US
14.2.2 Canada Increasing Use of Tegs in the Industrial Sector is Driving the Demand for Thermoelectric Generators in Canada
14.3 Asia Pacific
14.3.1 China Increasing Industrialization and Demand for Hybrid Vehicles is Driving the Tegs Market in China
14.3.2 India Development of Environment-Friendly Energy Solutions to Control Pollution is Expected to Drive the Tegs Market in India
14.3.3 Japan Growing Demand for Hybrid Electric Vehicles is Driving the Teg Market in Japan
14.3.4 Australia Remote Monitoring Application of Renewable Energy Assets is Driving the Demand of Tegs in Australia
14.3.5 South Korea Development of Advanced Wearable Technology is A Major Factor Driving the Market for Tegs in South Korea
14.3.6 Rest of Asia Pacific
14.4 Europe
14.4.1 UK Introduction of Energy Saving Opportunity Scheme (Esos) in the UK is Driving the Market for Tegs
14.4.2 Germany Increasing Adoption of Renewable Energy in the Automotive Industry is Expected to Drive the Growth of Market in Germany
14.4.3 France Increasing Adoption of Thermoelectric Generators in the Automotive Sector is Expected to Drive the Market for France
14.4.4 Italy Rising Demand for Variable Renewable Energy (VRE) Generators for Power Plants is Expected to Drive the Market for Tegs in Italy
14.4.5 Spain Increasing Solar-Powered Projects are Expected to Drive the Tegs Market in Spain
14.4.6 Sweden Increasing Adoption of Tegs From Automotive and Manufacturing Sectors is Expected to Drive the Market for Thermoelectric Generators in Sweden
14.4.7 Russia Increase in Demand for Military Aircraft is Expected to Drive the Market for Tegs in Russia
14.4.8 Rest of Europe
14.5 Rest of the World (RoW)
14.5.1 Latin America Increasing Adoption of Thermoelectric Generators in the Manufacturing and Energy Industries is Expected to Drive the Market for Tegs in Latin America
14.5.2 Middle East Increasing Adoption of Thermoelectric Generators in the Oil & Gas Industry is Expected to Drive the Demand for Tegs in the Middle East
14.5.3 Africa Adoption of Advanced Technologies for Waste Heat Recovery and Generate Power is Driving the Tegs Market in Africa

15 Competitive Landscape
15.1 Introduction
15.2 Competitive Leadership Mapping
15.2.1 Visionary Leaders
15.2.2 Innovators
15.2.3 Dynamic Differentiators
15.2.4 Emerging Companies
15.3 Competitive Leadership Mapping of Start-Ups
15.3.1 Visionary Leaders
15.3.2 Innovators
15.3.3 Dynamic Differentiators
15.3.4 Emerging Companies
15.4 Market Share Analysis of Key Players, 2018
15.5 Competitive Scenario
15.5.1 New Product Launches
15.5.2 Contracts
15.5.3 Acquisitions/Partnerships/Agreements

16 Company Profiles
16.1 Gentherm Inc.
16.2 II-VI Incorporated
16.3 Ferrotec Corporation
16.4 Laird PLC
16.5 Tecteg
16.6 Komatsu Ltd.
16.7 Yamaha Corporation
16.8 RMT Ltd.
16.9 Kryotherm
16.10 Everredtronics Ltd.
16.11 Hi-Z Technology
16.12 Kelk Ltd.
16.13 Otego GmbH
16.14 Novus Energy Technologies Inc.
16.15 P&N Technology (Xiamen) Co. Ltd.
16.16 Perpetua Power Source Technologies Inc.
16.17 Align Sourcing LLC
16.18 Teledyne Energy Systems Inc.
16.19 Brimrose Corporation
16.20 Redhawk Energy Systems LLC

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