Thermoelectric Generators Market to Witness Strong Growth Through 2027

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Global Thermoelectric Generators Market
Projected to Reach 1,233 Million by 2027
The overall Thermoelectric Generator Market is
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. Thermoelectric generators and
thermoelectric
materials previously primarily
that were
utilized in niche
applications are now
becoming popular
more with the

• 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 are also environmentally
  friendly because they do not include chemical
  products. These
• reasons are boosting their demand further.
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• The outbreak of COVID-19 and its resultant
  lockdowns and supply chain disruptions 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.
• Based on wattage, the thermoelectric generators
  market is segmented into low power (lt10 W),
  medium power (10-1 kW), and high power (gt 1 kW).
  The power produced by thermoelectric generators
  is highly dependent upon the temperature applied
  to their plates. The low power (lt10 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 power
  segment.
• 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 forecast period.

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Based on temperature, the thermoelectric
generators market is segmented into low
temperature (lt80C), medium temperature
(80-500C), and high temperature (gt500C).
These temperature ranges depend upon the
application that the thermoelectric generators
are used in. By temperature, the low (lt80C)
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 thermoelectric
generators. 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 boosts
demand. 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
processing applications. 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. News Also Covered
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ctric- generators-market-worth-1-233-million-by-2
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