Farmington, March 19, 2023 (GLOBE NEWSWIRE) -- The Thermoelectric Generators (TEG) Market was valued at US$ 511.4 Million in 2022. The Global Thermoelectric Generators (TEG) Market size is estimated to grow at a CAGR of 12.64% over the forecast period 2022-2030. The Seebeck effect turns heat into electricity in a solid-state device called a thermoelectric generator, or TEG. These generators are fully silent and have no moving parts, which is different from traditional heat engines. This market is growing because more people want fuel-efficient cars and the government has strict rules about how much carbon dioxide can be released into the air. The thermoelectric generator market could grow, but the high cost of thermoelectric materials and a lack of scientific know-how could slow that growth. It is currently used for small uses because it is inexpensive, easy to use, small, and can be expanded. They are also being used in new ways to make energy through thermoelectric gathering.
Request Sample Copy of Report “Thermoelectric Generators (TEG) Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Thermoelectric Generators (TEG) Market Recent Developments:
- In April 2021, Laird Thermal Systems launched the PCX thermoelectric cooler series to increase the reliability of PCR cycling. Used in analysis, medical, medical diagnostics, DNA amplification, and offered in the PowerCycling PCX series of thermoelectric coolers.
- March 2021 The DX4091 Z-Meter is a single channel device with an internal chamber for placement of test frames containing mounted pellet samples. The lid of the chamber locks magnetically when closed or opened.
- In April 2018, Gentherm Inc. launched a thermoelectric-based solution for thermal management of 48-volt lithium-ion batteries for the automotive industry. This thermoelectric technology is fully integrated into the battery housing and can heat and cool Li-ion battery cells.
Thermoelectric Generators (TEG) Market Dynamics:
Drivers
The thermoelectric generator market is growing because people want clean energy and technology and materials are getting better. The thermoelectric market is mostly driven by the growing commercialization of power generators, the rising need for compact TEGs, and the use of decarbonization technologies to reduce greenhouse gas emissions.
Opportunities
The growth of disposable money and industrialization are both great things for market growth. Many big companies are getting more business by spending money on research and development to improve their high-power thermoelectric generator usage technologies. This helps them make their heat exchangers work better and handle the stress of high-temperature gradients.
Challenges
They are mostly used in places where heat engines are too big or where there isn't enough power. The fact that these generators are hard to make and that there are obvious alternatives is a big problem for the business.
Regional Outlook:
North America made the most money out of the whole world market. The market is expected to be driven by the rising number of technological advances in North America and the growing need for generators in aerospace, automotive, medical, and many other fields.
A market can also grow in a number of ways if rivals are getting more and more competitive and there are a lot of big players in the market. Also, more people want to make their cars use less fuel, and the region is becoming more industrialized quickly, which is driving up the demand for generators in the automotive business. This will keep the market growing in the coming years.
During the forecast period, the CAGR for the European market is estimated to be the highest. The booming growth of the car industry and the fact that there are a lot of consumers in the area are driving up market demand in the area. In addition, strict rules about CO2 emissions from cars and more and more efforts by public and private companies to reduce carbon emissions are also helping the market grow.
Europe is also a world leader that cares a lot about using green energy. Eurostat says that about 17% of the EU's heating and cooling, 26% of its power, and 6% of its transportation energy come from renewable sources. Europe is also putting a lot of money into renewable energy as a whole. This is because the demand for green electricity is growing in many end-use sectors and more people are using it in the power sector and power sector.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/7853/
Scope of Report:
| Report Attributes | Details |
| Growth Rate | 12.64% from 2023 to 2030 |
| Market Size in 2022 | USD 511.4 Million |
| By Material | Bismuth Telluride, Lead Telluride, Others |
| By Applications | Waste Heat Recovery, Energy Harvesting, Direct Power Generation, Co-generation |
| By End-use Industry | Automotive, Aerospace, Industrial, Consumer, Healthcare |
| By Companies | Gentherm, II-VI Incorporated, Ferrotec Holdings Corporation, Yamaha Corp, Laird, Komatsu, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Thermoelectric Generators (TEG) Market Key Segments Covered:
Top Market Players:
Gentherm, II-VI Incorporated, Ferrotec Holdings Corporation, Yamaha Corp, Laird, Komatsu, and Others.
By Material:
- Bismuth Telluride
- Lead Telluride
- Others
By Application:
- Waste Heat Recovery
- Energy Harvesting
- Direct Power Generation
- Co-generation
By End-use Industry:
- Automotive
- Aerospace
- Industrial
- Consumer
- Healthcare
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Recovered Packaging Market - The Global Recovered Packaging Market Is Projected To Grow At A CAGR Of 6.5% From 2022 To 2030. Asia Pacific dominated the global market in terms of revenue share in 2019. The region is expected to continue its dominance over the forecast period due to high demand for corrugated cartons and wood packaging from various end-use industries such as food and beverage retail and protective packaging.
- Loose Fill Polystyrene Packaging Market - The Global Loose Fill Polystyrene Packaging Market Is Estimated To Exhibit A CAGR Of 4.1% Over The Forecast Period. Asia Pacific held the dominant position in terms of revenue share in the global loose-fill polystyrene packaging market in 2017, accounting for a market share of 44.1%. End-use industries such as pharmaceuticals, cosmetics and personal care industries in the region are growing rapidly, driving the growth of the market in the region.
- Biodegradable Bubble Wrap Packaging Market - The Global Biodegradable Packaging Market Is Estimated To Garner Around USD 160 Billion In Revenue By 2031 By Growing At A CAGR Of Nearly 6.0% Over The Forecast Period 2022– 2030. The packaging industry has resonated well in meeting the requirements of several flagship product manufacturers and OEMs. The diversity of needs across the manufacturing industry has led to the development of new packaging materials. In addition, the growth of the electronics business industry has Multiple products are placed in moving supply chains.
- Packaging Robot Market - The Packaging Robot market size was valued at USD 4,352.1 million in 2022 and is expected to reach USD 14,475 million by 2030, at a CAGR of 12.3% from 2022 to 2030. In terms of region, the market is dominated by Asia Pacific. China is likely to show as high deal value as high volume in the global Packaging Robots market before long. The influx of Chinese manufacturers is expected to intensify the competition in the global packaging robotics market in Asia Pacific in the near future.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
