Thermoelectric generators are devices that convert temperature differences into electrical energy. Two basic physical phenomena involved in this process include the seebeck effect and the peltier effect. The seebeck effect defines the conversion of temperature difference into electric current at the interface of two different materials, whereas the Peltier effect is the vice-versa of the Seebeck effect. Thermoelectric materials generate power directly from heat by converting temperature differences into electric voltage. These materials must have both high electrical conductivity () and low thermal conductivity () to be suitable for the thermoelectric conversion process.
Thermoelectric generators are witnessing increased adoption in the oil & energy sector, owing to heat recycling property of the generators. Initially, these generators were used only as heating or cooling devices; however, recent research activities have developed them as energy harvesting devices. Thermoelectric generators are gaining popularity as an upcoming clean and green technology, as they convert waste heat (zero cost) into electrical energy, thus cutting the major industrial cost of raw electric energy. Moreover, increase in concerns towards the development of the renewable energy sector and huge investments made by the various governments in the same fuel the market growth. However, factors such as high cost of the generators and lower efficiency restrain the growth of the market.
The thermoelectric generators market is segmented based on watt power, source, industry vertical, and geography. On the basis of watt power, the market is divided into low power, medium power, and high power. On the basis of source it is bifurcated into waste heat recovery, energy harvesting, direct power generation, and co-generation. On the basis of material, the market is divided into Bismuth-Telluride, Lead-Telluride, Copper-Iron, and Antimony-Bismuth.
According to industry vertical, it is categorized into aerospace & defense, automotive, industrial, residential, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Key players operating in the market include Gentherm, Inc., II-VI Marlow, Inc., Ferrotec Holdings Corporation, Laird plc, KELK Ltd., Yamaha Corp., Evident Thermoelectrics, Alphabet Energy, Phononic Devices, and Thermo Electric Company, Inc.
- The study provides an in-depth analysis of the thermoelectric generators market with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information about the key drivers, restraints, and opportunities with impact analysis.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 are provided to showcase the financial competence of the market.
- Porters Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers participating in the market.
Thermoelectric Generator Key Segmentation:
By Watt Power
- Low Power (<10 W)
- Medium Power (10-1kW)
- High Power (> 1kW)
- Waste Heat Recovery
- Energy Harvesting
- Direct Power Generation
By Industry Vertical
- Aerospace & Defense
- North America
- Rest of Europe
- Rest of Asia Pacific
- Latin America
- Gentherm, Inc.
- II-VI Marlow, Inc.
- Ferrotec Holdings Corporation
- Laird Plc.
- KELK Ltd.
- Yamaha Corp.
- Evident Thermoelectrics
- Alphabet Energy
- Phononic Devices
- Thermo Electric Company, Inc.