Energy & Utility

According to a market report by Lucintel, the future of the global thermoelectric generator market looks promising with opportunities in the automotive, aerospace & defense, marine, industrial, consumer electronic, healthcare, oil & gas, mining, and telecommunication markets. The global thermoelectric generator market is expected to reach an estimated $1,002.6 million by 2028 with a CAGR of 9.8% from 2023 to 2028. The major drivers for this market are growing demand for waste heat recovery systems, rising number of research & development activities for upgrading the performance of thermoelectric generators, and increasing demand for fuel efficient vehicles.



In this market, heat source, thermoelectric module, cold side, and electric load are different segments of thermoelectric generator market by component. Lucintel forecasts that heat source will remain the largest segment over the forecast period due to its increasing usage in the automotive sector owing to its capability to convert heat flux into electrical energy and also helps in reducing carbon emissions from vehicles.



Within this market, aerospace & defense is expected to remain the largest segment due to increasing penetration of thermoelectric generators in space crafts and rockets for power generation.



North America will remain the largest region during the forecast period due to rapid industrialization, growing demand for generators in the automotive industries to enhance the fuel efficiency, and increasing number of technological developments in the region.

Gentherm, Ferrotec Holdings, Yamaha Corp., Thermo Electric Company, Laird Thermal Systems, Komatsu, Kyocera Corporation, Phononic Devices, and II-VI Marlow are the major suppliers in the global thermoelectric generator market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global thermoelectric generator market by component, wattage, application, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Thermoelectric Generator Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global thermoelectric generator market by component, wattage, application, end use industry, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the thermoelectric generator market by component (heat source, thermoelectric module, cold side, and electric load), wattage (low power (<10W), medium power (10-1 kW), and high power (>1 kW)), application (waste heat recovery, energy harvesting, direct power generation, and co-generation), end use industry (automotive, aerospace & defense, marine, industrial, consumer electronics, healthcare, oil & gas, mining, and telecommunications), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity did occur in the last five years and how did they impact the industry?