Global Thermoelectric Generators Market Projected to Reach $1,233 Million by 2027

1. GlobalThermoelectricGeneratorsMarket Projected to Reach $1,233 Million by2027 The overall Thermoelectric Generator Marketis projected to grow from USD 406 million in 2021 to USD 635 million by 2026, at a CAGR of 9.4% from 2021 to 2026. North America is estimated to account for the largest share of the thermoelectric generator marketfrom 2021 to2026. Thermoelectric generatorsand thermoelectric materials previously primarily thatwere utilized inniche applications arenow becoming popular more withthe introduction of wider automotive applications and the efforts to exploit waste-heat-recovery technologies. Thermoelectric generators are not only highly reliable and durable, but they arealso environmentally friendly because they do not include chemical products.These reasons are boosting their demand further. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=91553904 TheoutbreakofCOVID-19anditsresultantlockdownsandsupplychaindisruptions have adversely affected the TEG market, with the suspension and delay to carry out TEG manufacturing operations in 2020. The condition still is not normal in the first quarter of 2021, due to ongoing surge in COVID-19 cases worldwide. Basedonwattage,thethermoelectricgeneratorsmarketissegmentedintolowpower (<10W),mediumpower(10-1kW),andhighpower(>1kW).Thepowerproducedby thermoelectric generators is highly dependent upon the temperature applied to their plates. The low power (<10 W) segment of the thermoelectric generators market is projected to grow at the highest CAGR during the forecast period. The increased use of wearables and handheld consumer electronic devices is the major driver for the growth of the low powersegment. Based on type, considering the flow and heat transfer process of the heat source along with the cold source, TEGs are categorized into single stage and multistage. ThesinglestagesegmentheldthemajorshareoftheglobalTEGmarketin2020and multi stage segment is going to have the highest CAGR during the forecastperiod.

2. Based on temperature, the thermoelectric generators market is segmented into low temperature (<80°C), medium temperature (80°-500°C), and high temperature (>500°C). These temperature ranges depend upon the application that the thermoelectric generators are used in. By temperature, the low (<80°C) segment of the thermoelectric generator (TEG) market is projected to register the highest CAGR of11.2%duringtheforecastperiod.StringentlawstoreduceCO2emissionhaveled to the increasing application of thermoelectricgenerators. Based on material, the thermoelectric generators market is segmented into bismuth telluride, lead telluride, and others. The selection of the thermoelectric material is dependent on the temperature range at which the material is used. Currently, bismuth telluride is the most widely used material as it has the highest figure of merit and exhibits high performance across applications. The Bismuth Telluride segment of the thermoelectric generators (TEG) market is projected to register the highest CAGR during the forecast period. Based on component, the thermoelectric generators market is segmented into heat source, thermoelectric module, cold side, and electric load. These components are made of materials such as bismuth telluride, lead telluride, and others for better thermal conductivity. The thermoelectric module segment is projected to have the highest CAGR during the forecast period. Increasing use of efficient materials for manufacturing thermoelectric modules boostsdemand. Based on vertical, the thermoelectric generators market is segmented into automotive, aerospace & defense, marine, industrial, consumer, healthcare, oil & gas, mining, and telecommunications. The industrial segment is projected to record the highest growth during the forecast period owing to the adoption of TEGs in smelters & blast furnaces, and other chemical processingapplications. Basedonapplication,thethermoelectricgeneratorsmarketissegmentedintoenergy harvesting, waste heat recovery, direct power generation, and co-generation. The waste heat recovery application is expected to lead the market for TEGs during the forecast period driven by the increasing trend of electrification of automobiles. This trend will help increase the demand for TEGs, which produce electricity from the waste heat fromautomobiles. News Also Covered: https://www.prnewswire.com/news-releases/thermoelectric- generators-market-worth-1-233-million-by-2027---exclusive-report-by- marketsandmarkets-301768740.html AboutMarketsandMarkets™ 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 forclients. TheB2Beconomyiswitnessingtheemergenceof$25trillionofnewrevenuestreams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity throughourservicelines-TAMExpansion,Go-to-Market(GTM)Strategyto

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