Thermoelectric Generators Market Witness the Growth of $635 Million by 2026

1. Thermoelectric Generators Market Witness the Growth of $635 Million by 2026 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 market from 2021 to 2026. North America is estimated to account for the largest share of the thermoelectric generator market from 2021to 2026. Thermoelectric generators and thermoelectric materials that were previously utilized primarily in niche applications are now becoming more popular with the introduction applications exploit technologies. ofwiderautomotive andtheeffortsto waste-heat-recovery Thermoelectric generators are not only highly reliable and durable, but they are also environmentally friendly because they do not include chemical products. These reasons are boosting their demandfurther. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=91553904 Key MarketPlayers Key players operating in the TEG market include Gentherm, Inc (US), II-VI Incorporated (US), Ferrotec Corporation (Japan), Laird Thermal Systems (UK), Komatsu Ltd. (Japan), and TEC Microsystems(Germany). “Bywattage,lowpower(<10W)sub-segmentofTEGMarketwouldhavethe highest CAGR during the forecastperiod” Based on wattage, the thermoelectric generators market is segmented into low power (<10 W), medium power (10-1 kW), and high power (> 1 kW). The power produced by 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

2. “By type, the single stage segment is estimated to lead the TEGmarket” 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. The single stage segment held the major share of the global TEG market in 2020 and multi stage segment is going to have the highest CAGR during the forecastperiod. “By temperature, the low temperature segment is projected to register the highest CAGR during the forecastperiod” 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 of 11.2% during the forecast period. Stringent laws to reduce CO2 emission have led to the increasing application of thermoelectricgenerators. “Bymaterial,BismuthTelluridesegmentisestimatedtoaccountforthelargest market share of TEG market during the forecastperiod” 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. “By component, the thermoelectric module segment is projected to register the highest CAGR during the forecastperiod” 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. “By vertical, the industrial segment is estimated to account for thelargest market share of TEG market during the forecastperiod” Based on vertical, the thermoelectric generators market is segmented into automotive, aerospace & defense, marine, industrial, consumer, healthcare, oil & gas, mining, and telecommunications.Theindustrialsegmentisprojectedtorecordthehighestgrowth

3. during the forecast period owing to the adoption of TEGs in smelters & blast furnaces, and other chemical processingapplications. “By application, the waste heat recovery segment isprojected to register the highest CAGR during the forecastperiod” Based on application, the thermoelectric generators market is segmented into energy 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 from automobiles. Ask for Sample Report@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=91553904 AboutMarketsandMarkets™ 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 worldwideapproach MarketsandMarkets™ for their painpoints around revenues decisions. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" 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. Contact: Mr.Aashish Mehra MarketsandMarkets™ INC. 630 DundeeRoad Suite 430 Northbrook, IL60062 USA:1-888-600-6441