A recent market intelligence report that is published by Data Insights Partner on Thermoelectric Generator Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Thermoelectric Generator Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world Thermoelectric Generator Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of international Thermoelectric Generator Market is offered. In accordance with the report, the Thermoelectric Generator Market is projected to expand at a CAGR of 14.1% over the period of forecast.
Market Insight, Drivers, Restraints & Opportunity of the Market:
Thermoelectric generators works mainly on the principle of seed beck effect, which convert temperature differences into electric energy and vice versa. The thermoelectric generator sales market is expected to witness a steady growth during the forecast period from 2019 to 2027. Thermoelectric generators are primarily used in remote areas where is no provision of grid power generation. The principle requirement for harvesting the waste heat energy emitted by different application segments such as automobiles, microprocessors and machineries into electric energy has boosted the demand of thermoelectric generator to a great extent in the global market. Consequently, this provides a wider opportunity for the thermoelectric generator manufacturers in the coming years. The global thermoelectric generator market is highly competitive as the market is dominated by few market leaders.
Geographically, In terms of revenue, North America held the largest market share in the global thermoelectric generator market as of 2018. Within North America, US held the largest market share due to high industrial cluster and stringent regulations imposed by government to reduce carbon emission. On the other hand; Asia Pacific is expected to become the most promising market with a highest estimated CAGR growth in terms of revenue from 2019 to 2027. Asia pacific region is expected to be the fastest growing market for thermoelectric generators due to rapid industrialization and increasing demand of fuel efficient automobiles. Owing to significant economic growth China and Japan held the largest share of Asia Pacific region. Among the different applications, the automotive segment held the largest market share owing to increased number of automotive manufacturers globally. On the other side, the aerospace is expected to become the fastest growing segment due to enormous technological advancement in thermoelectric generators for aerospace. The Silicon-germanium (SiGe) materials is the most commonly used material in thermoelectric generator as it can operate under high temperature (>1000°C) without degradation.
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Segment Covered:
The market has been segmented on the basis of application, source, power rating, material, temperature and geography. On the basis of application the market can be fragmented into automotive, industrial, aerospace, self-power sensor and others. Various categories of thermoelectric generators on the basis of power ratings include <30 W, 30 – 100 W, 100 W – 1 KW, and >1 KW. The source segment can be bifurcated into waste heat recovery, energy harvesting, co-generation, and direct power generation. Different materials used to manufacture thermoelectric generators are Pb-Te, Bi-Te, Si-Ge and others. By temperature thermoelectric generators can be divided into <80°C, 80-500°C and > 500 C. Geographically the global generator market can be segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The global thermoelectric generator market is primarily driven by increasing demand for fuel efficient automobiles. Waste heat produces in cars can be harvested through thermoelectric generators which increases the fuel efficiency of cars. Moreover strict regulations imposed by government globally regarding elimination of greenhouse gas have also boosted the demand for thermoelectric generators. Thermoelectric generators can produces power using the geothermal energy of natural hot water sources and hot gasses produced from different industrial sectors. This reduces the scope power generation using coal, fuel and biomass, thereby eliminating the emission of carbon and other greenhouse gasses. In addition the durability nature, very low maintenance cost and exhaustion of natural resources is also expected to fuel the demand of thermoelectric generators as one of the main sources of power supply. However, high cost of thermoelectric materials and lack of awareness among the consumers regarding this technology are the most important factors restraining the growth of global thermoelectric generator market. In addition, thermoelectric generators offer high output resistance. In order to obtain very high output voltage the thermo-elements have to be placed in a series which causes high resistance (<10?).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as Gentherm Inc., Ferrotec Corp., Yamaha Corporation, and Komatsu Limited (Japan),LAIRD,KELK, Thermo Electric Company, Inc., Evident Thermoelectrics among others. Contracts for design, installation, supply & agreements was the commonly implemented strategy by the major players in the Thermoelectric Generator Market in between 2015 to 2018 . Moreover, parameters such as Thermoelectric Generator Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
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