Thermoelectric Generator Market Size To Expand at a Notable CAGR Of 14% During 2016 - 2021

Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Thermoelectric Generator Market.

Market Insights

Thermoelectric generators help convert heat into electrical energy. Also known as a Seebeck generator, this device  can be used in power plants to convert waste energy into additional electricity or in automobiles to help increase fuel efficiency. Market Research Future has examined the global thermoelectric generator market in its latest report. The growth of the global thermoelectric generator market is expected to result in a CAGR of 14% during the forecast period ranging from 2016 to 2021.

Thermoelectric generators are witnessing the growing demand for adoption due to its various highly useful applications. The global scenario has resulted in an extremely high demand for power over the forecast period. The expansion of urban areas has resulted in high demand for power generation. This has been supported even further by the demand for energy in a growing global industrial sector. The use of thermoelectric generators as part of a power plant to increase output and efficiency of power generation is expected to be a key motivator for growth. Moreover, automotive thermoelectric generators are vital in helping improve fuel efficiency. The demand for automotive vehicles has grown exponentially over the years particularly in emerging economies as the personal disposable income has grown due to economic growth. Moreover, with rising fuel prices and the demand for efficient, environmentally friendly vehicles has resulted in a high adoption of thermoelectric generators to ensure fuel efficiency.

The market is particularly challenged by the high cost of thermoelectric generators and their lack of efficiency with regards to high cost, thus hindering the growth of the market.

Market Segmentation

The global thermoelectric generator market has been segmented on the basis of source, material, power, temperature, end-user, and region. Source has been segmented to include energy harvesting, direct power generation, waste heat recovery, and co-generation.

Materials that have been segmented into Bi-TE, PB-TE, and others.

Power has been segmented to include <10 W, 10 - 1 kW and >1 kW

Temperature has been segmented to include <100 C, 100 - 500 C, and >500 C.

End-users of thermoelectric generators have been segmented into aerospace & defense, industrial, automotive, sensors, and others.

Regions covered in the global analysis of the thermoelectric generator market include Europe, North America, the Asia Pacific, and the Rest of the World.

Regional Analysis

Among the regions covered in the report, the global thermoelectric generator market is being led by the North American market which was found to have captured the largest share of the market followed by the Asia Pacific. The increasing strain on powerplants has led them to use thermoelectric reactors to salvage waste heat and increase energy output. Meanwhile, the Asia Pacific market is expected to grow over the course of the forecast period due to the presence of several rapidly emerging economies with high economic growth which has resulted in a high disposable income as well as a high demand for continuous power supply in expanding urban areas and a demand for automotive vehicles. Countries like India, China, and Japan are likely to make a huge impact on the region's growth in the coming years.Browse Complete Report Details @ https://www.marketresearchfuture.com/reports/thermoelectric-generator-market-1845

Key Players

Laird PLC, Komatsu Limited, Tecteg, Alphabet Energy, Tellurex Corporation, Gentherm, Inc., II-VI Incorporated, Ferrotec Corporation, Yamaha Corporation, and Evident Thermoelectrics are among the leading market players that have been observed in MRFR’s report on the global thermoelectric generators market. The inclusion of these players helps provide an understanding of the competition in the market, their positions as well as the  most successful strategic marketing decisions that have helped expand the market over the years and during the forecast period.