What is Thermoelectric Generators Market?
A thermoelectric generator has no moving parts but it is designed to convert heat directly into electricity. As heat transfers from a gas burner through a thermoelectric module, it causes an electrical current to flow. It has solid-state design ensures trouble free operation and the most reliable power supply system available. In order to be a good thermoelectric, materials must have the unique combination of both low thermal conductivity and high electrical conductivity. The global thermoelectric generator market is expected to witness a high growth due to growing demand for waste heat recovery systems and its continuous operation in all conditions.
The market study is being classified and major geographies with country level break-up.
Gentherm, Inc. (United States), II-VI Marlow, Inc. (United States), Ferrotec Holdings Corporation (Japan), Laird plc (United Kingdom), KELK Ltd. (Japan), Yamaha Corp. (Japan), Evident Thermoelectrics (United States), Alphabet Energy (United States), EVERREDtronics (China) and greenTEG (Switzerland) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are TECTEG MFR (Canada) and RedHawk Energy Systems (United States).
Major companies are implementing various strategies such as mergers & acquisitions, new service launch, joint ventures and others. Key players are exploring new geographies through expansions and acquisitions around the world to avail competitive advantage through combined synergies Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Thermoelectric Generators market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Thermoelectric Generators market by Type, Application and Region.
On the basis of geography, the market of Thermoelectric Generators has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Demand for Waste Heat Recovery Systems
- Continuous Operation in All Conditions
Market Trend
- Growing Industrial Automation Across the World
Restraints
- High Initial Investment Cost
Opportunities
- Rise In Research & Development Activities
Challenges
- Emerging Alternatives to Thermoelectric Generation
Key Target Audience
Manufacturers of Thermoelectric Generator, Suppliers of Thermoelectric Material, System Integrators, Governmental Bodies, Original Equipment Manufacturers and Research Firms