A recent report published by Infinium Global Research on thermoelectric generators market provides in-depth analysis of segments and sub-segments in the global as well as regional thermoelectric generators market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional thermoelectric generators market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global thermoelectric generators market. According to the report, the global thermoelectric generators market is projected to grow at a CAGR of 13.6% over the forecast period of 2019-2025.
Thermoelectric generator is a solid state device which converts heat directly into electricity. Thermoelectric generators are mostly used as a micro energy harvester to harvest waste heat energy in power plants. It has a wide range of application in several industries due to its numerous advantages. Thermoelectric generators are environmentally friendly, no moving parts so maintenance is required less and has scalability property. Thermoelectric generators are appeared as promising alternative green technology due to their distinct advantages.
The growing demand for energy across various end-user industries such as automobile, aerospace, defense, industrial and many others drives the growth of thermoelectric generators market. Additionally, thermoelectric generators used as power sources in satellites, space probes (radioisotope thermoelectric generators) and also used in small portable applications. Furthermore, rising concerns about environmental and emissions issues, particularly global warming have led the demand for this market. In 2016, it is projected that energy expenditures in the U.S. were $1.0 trillion. However, high installation cost and their low heat to electricity efficiency could hamper the growth of thermoelectric generators market during the forecast period. Furthermore, massive capital investments by the several governments in the same provides growth opportunities for the market in the coming years. Recent research and development activities have developed new technologies for the conversion of renewable energy to electricity is expected to create lucrative opportunities for the thermoelectric generators market.
Among the geographies, North America held maximum share in thermoelectric generators market due to rising awareness regarding clear energy source. In North America Countries, such as the U.S. and Canada are observing a growing adoption of thermoelectric generators in the automotive industry. Furthermore, Europe and Asia Pacific regions are expected to be the highest growth rate in this market during the forecast period. The countries such as China and India are expected to grow at a substantial rate in this market owing to the increase in demand for vehicles. Additionally, Rapid growth in industrialization is another factor responsible for the growth of thermoelectric generators market in the Asia Pacific region.
The report on global thermoelectric generators market covers segments such as source, material, and industry verticals. On the basis of source, the sub-markets include waste heat recovery, energy harvesting, co-generation, and direct power generation. On the basis of material, the sub-markets include bismuth-telluride(BI-TE), copper-iron(CU-FE), lead-telluride(PB-TE), and antimony-bismuth(SB-BI). On the basis of industry verticals, the sub-markets include automotive, aerospace & defence, marine, industrial, and others.
The report provides profiles of the companies in the market such as Alphabet Energy, Inc., Thermoelectric Woodstove Generators, Yamaha Corporation, Laird plc, Ferrotec Corporation, II-VI Incorporated, Gentherm Incorporated, Komatsu Limited, Evident Thermoelectrics, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of thermoelectric generators market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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