Thermoelectric Generators Market: Overview and Growth Projections

1
Thermoelectric Generators Market - Overview and
Growth Projections
Thermoelectric technology, capable of converting
heat into electricity and vice versa, has
garnered global attention for its applications in
power generation and solid-state cooling. Its
versatility spans across various sectors,
from terrestrial to space exploration, making it
a key player in energy solutions. The Thermoelect
ric Generators Market is experiencing remarka
ble growth, projected to reach a market value
of 1,233 million by 2027. This growth, driven
by a compound annual growth rate (CAGR) of 10.1
from 2022 to 2027, is fueled by increasing
demand for durable and maintenance-free power
sources. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id91553904 Key Characteristics of
Thermoelectric Materials Efficient thermoelectric
materials exhibit a combination of
characteristics, including a significant Seebeck
coefficient, low resistivity, and minimal thermal
conductivity, crucial for effective power
generation. Driving Forces Behind Market Growth
Waste Heat Recovery Initiatives Initiatives to
recover waste heat, driven by the imperative to
mitigate energy wastage, are propelling the
adoption of thermoelectric generators.
Collaborations between government bodies and
automotive manufacturers highlight the
significance of waste-heat-recovery
technologies. Automotive Sector Adoption The
automotive sector emerges as a significant
adopter of thermoelectric generators,
particularly through automotive thermoelectric
generators (ATEG). These systems harness waste
heat from internal combustion engines to power
vehicle electronics and lighting, contributing
to energy efficiency. Market Segmentation and
Trends Dominance of Waste Heat Recovery Segment
2
Within the Thermoelectric Generators Market, the
waste heat recovery segment holds prominence,
driven by the increasing trend of electrification
in automobiles. This segment is expected to
witness substantial growth as automotive
manufacturers seek to utilize waste heat for
electricity generation. Automotive Sector
Leading Vertical The automotive sector leads in
the adoption of thermoelectric generators, fueled
by the demand for automotive thermoelectric
generators (ATEG). Despite their high cost,
ATEGs offer a compelling solution for powering
vehicle electronics, contributing to the
sector's growth. Regional Insights North America
emerges as a frontrunner in the Thermoelectric
Generators Market, driven by increased
utilization across healthcare, space, and
automotive industries. The region's focus on
innovation and sustainability propels market
growth and technological advancements. Key
Market Players and Innovations Key players such
as Coherent Corp., Gentherm Inc., and Ferrotec
Holdings Corporation are at the forefront of
innovation in the Thermoelectric Generators
Industry Size. Their contributions drive market
growth and technological advancements, shaping
the future of sustainable energy solutions. Ask
for Sample Report _at_ https//www.marketsandmarkets.
com/requestsampleNew.asp?id91553904 About
MarketsandMarkets MarketsandMarkets has been
recognized as one of Americas best management
consulting firms by Forbes, as per their recent
report. MarketsandMarkets is a blue ocean
alternative in growth consulting and program
management, leveraging a man-machine offering to
drive supernormal growth for progressive
organizations in the B2B space. We have the
widest lens on emerging technologies, making us
proficient in co-creating supernormal growth for
clients. Earlier this year, we made a formal
transformation into one of America's best
management consulting firms as per a survey
conducted by Forbes. The B2B economy is
witnessing the emergence of 25 trillion of new
revenue streams that are substituting existing
revenue streams in this decade alone. We work
with clients on growth programs, helping them
monetize this 25 trillion opportunity through
our service lines - TAM Expansion, Go-to-Market
(GTM) Strategy to Execution, Market Share Gain,
Account Enablement, and Thought Leadership
Marketing. Built on the 'GIVE Growth' principle,
we work with several Forbes Global 2000 B2B
companies - helping them stay relevant in a
disruptive ecosystem. Our insights and
strategies are molded by our industry experts,
cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore
(our Market
3
Intelligence Cloud) integrates our research,
facilitates an analysis of interconnections
through a set of applications, helping clients
look at the entire ecosystem and understand the
revenue shifts happening in their
industry. To find out more, visit
www.MarketsandMarkets.com or follow us on
Twitter, LinkedIn and Facebook. Contact Mr.
Aashish Mehra MarketsandMarkets INC. 630
Dundee Road Suite 430 Northbrook, IL 60062 USA
1-888-600-6441 Email sales_at_marketsandmarkets.com