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

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Thermoelectric Generators Market Witness the
Growth of 635 Million by 2026
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. North America is estimated to account for
the largest share of the thermoelectric
generator market from 2021 to 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.
of wider automotive and the efforts to
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 demand further.
• Download PDF Brochure _at_ https//www.marketsandmar
  kets.com/pdfdownloadNew.asp?id91553904 Key
  Market Players
• 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).
• By wattage, low power (lt10 W) sub-segment of TEG
  Market would have the
• highest CAGR during the forecast period
• 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

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By type, the single stage segment is estimated
to lead the TEG market 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. By temperature, the low
temperature segment is projected to register the
highest CAGR during the forecast period 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. By
material, Bismuth Telluride segment is estimated
to account for the largest market share of TEG
market during the forecast period 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 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. By vertical, the industrial segment is
estimated to account for the largest market share
of TEG market during the forecast period 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
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during the forecast period owing to the adoption
of TEGs in smelters blast furnaces, and other
chemical processing applications. By
application, the waste heat recovery segment is
projected to register the highest CAGR during the
forecast period 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
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id91553904
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