CHICAGO, Oct. 11, 2019 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets, the Thermoelectric Generators Market is projected to grow from USD 460 million in 2019 to USD 741 million by 2025, at a CAGR of 8.3% during the forecast period. Factors such as rapid commercialization of thermoelectric generators in the automotive industry, and increasing demand for miniaturized TEGs. Along with the rising adoption of decarbonization technologies for greenhouse gas emissions is expected to be the primary factor driving the thermoelectric generators market.
Ask for PDF Brochure:
The bismuth telluride material segment is projected to grow at the higher CAGR during the forecast period
By material, the thermoelectric generators market has been segmented into bismuth telluride, lead telluride and others. Among these, the bismuth telluride segment is projected to grow at the highest CAGR during the forecast period. Due to the comparatively high efficiency of bismuth telluride materials, the demand for this segment is rising.
The Low Temperature (<80°C) temperature segment is projected to grow at the highest CAGR during the forecast period
By temperature, the thermoelectric generators market has been segmented into Low Temperature (<80°C), Medium temperature (80°- 500°C) and High temperature (> 500°C). The Low Temperature (<80°C) segment is projected to grow at the highest CAGR during the forecast period. The low-temperature segment includes ultra-low-power mobile consumer electronics, and wearable, among others. These all are low temperature producing applications, and their output heat is used by the thermoelectric system to generate electricity. Due to the usage of various applications, such as sensors; powering watches, or other consumer electronics, This will help in driving this particular segment of thermoelectric generators market.
North America is projected to lead the market for thermoelectric generators during the forecast period
North America is estimated to account for the largest share of the thermoelectric generators market in 2019. The US dominated the North America region in thermoelectric generators market in 2019 and is expected to maintain its dominance over the next five years as well. This will be due to increased futuristic usage of TEG technology for powering various equipment and devices in various industries. The prominent industries which will use TEG's for power generation will be space, automotive, and commercial electronics. Other prominent reasons for TEG market growth are larger disposable income, huge industrialization, and an increase in demand for cleaner energy in North America.
Browse in-depth TOC on "Thermoelectric Generators Market"
129 - Tables
41 - Figures
165 - Pages
Request Sample Pages of the Report:
Major vendors in the thermoelectric generators market include Gentherm, Inc. (US), II-VI Marlow, Inc. (US), Ferrotec Corporation (Japan), Laird plc (UK), Komatsu Ltd. (Japan). These players have adopted contracts, agreements, acquisitions, and new product launches as their primary growth strategies from 2014 to 2019, to expand their presence in the global thermoelectric generators market further.
Please Explore Relevant Reports:
Thermal Management Market by Material (Adhesives, Nonadhesive), Device (Conduction, Convection, Advanced, and Hybrid), Thermal Management Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region - Global Forecast to 2024
Energy Harvesting System Market by Technology (Light, Vibration, RF, Thermal), Component, Application (Building & Home Automation, Consumer Electronics, Industrial, Transportation, Security), and Region - Global Forecast to 2023
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/thermoelectric-generators-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/thermoelectric-generators.asp