Oct 18, 2019   SOURCE: BusinessWire

Global Thermoelectric Generators Market Report 2019-2025 - Growing Demand for Low-Power Generators in Sensor Networks - ResearchAndMarkets.com

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.

Market Dynamics

Drivers

  • Increasing Demand for Solid-State Energy Converters
  • Growth of Renewable Energy in Power Sector
  • Requirement for Durable and Maintenance-Free Power Sources

Opportunities

  • Increasing Adoption of Thermoelectric Generators Across Various Sector
  • Growing Demand for Low-Power Generators in Sensor Networks

Challenges

  • High Cost of Thermoelectric Materials
  • Complex Design Modification of Thermoelectric Generators and Presence of Prominent Substitutes

Companies Profiled

  • Align Sourcing LLC
  • Brimrose Corporation
  • Everredtronics Ltd.
  • Ferrotec Corporation
  • Gentherm Inc.
  • Hi-Z Technology
  • II-VI Incorporated
  • Kelk Ltd.
  • Komatsu Ltd.
  • Kryotherm
  • Laird PLC
  • Novus Energy Technologies Inc.
  • Otego GmbH
  • P&N Technology (Xiamen) Co. Ltd.
  • Perpetua Power Source Technologies Inc.
  • Redhawk Energy Systems LLC
  • RMT Ltd.
  • Tecteg
  • Teledyne Energy Systems Inc.
  • Yamaha Corporation

For more information about this report visit https://www.researchandmarkets.com/r/pln3si