Impact of COVID 19 on Thermoelectric Generators Market

thermoelectric generator market

We salute industry experts helping companies survive and sustain in this economic pandemic; they are working day and night to help companies take rapid-decisions by finding:

  • Covid Impact on Thermoelectric Generators Market, growth/decline in product type/use cases of TEG Market due to cascaded impact of Covid 19 on Extended Ecosystem.
  • How top 50 companies in Thermoelectric Generators Market are making rapid shifts in their strategies as we speak here.
  • Outside-in view of top 50 companies’ client and client’s clients shifting short-term priorities.

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The report “Thermoelectric Generators Market by Application (Waste Heat Recovery, Energy Harvesting, Direct Power Generation, Co-generation), Wattage (<10 W, 10-1kW, >1kW), Temperature (<80°C, 80°- 500°C, >500°C, Material, Vertical, Component, Region – Global Forecast to 2025“, is projected to grow from USD 460 million in 2019 to USD 741 million by 2025, at a CAGR of 8.3% during the forecast period. Factors such as rapid commercialization of thermoelectric generators in the automotive industry, and increasing demand for miniaturized TEGs. Along with the rising adoption of decarbonization technologies for greenhouse gas emissions is expected to be the primary factor driving the thermoelectric generators market.

The bismuth telluride material segment is projected to grow at the higher CAGR during the forecast period

By material, the thermoelectric generators market has been segmented into bismuth telluride, lead telluride and others. Among these, the bismuth telluride segment is projected to grow at the highest CAGR during the forecast period. Due to the comparatively high efficiency of bismuth telluride materials, the demand for this segment is rising.

The Low Temperature (<80°C) temperature segment is projected to grow at the highest CAGR during the forecast period

By temperature, the thermoelectric generators market has been segmented into Low Temperature (<80°C), Medium temperature (80°- 500°C) and High temperature (> 500°C). The Low Temperature (<80°C) segment is projected to grow at the highest CAGR during the forecast period. The low-temperature segment includes ultra-low-power mobile consumer electronics, and wearable, among others. These all are low temperature producing applications, and their output heat is used by the thermoelectric system to generate electricity. Due to the usage of various applications, such as sensors; powering watches, or other consumer electronics, This will help in driving this particular segment of thermoelectric generators market.

Key Market Players

Some of the major players in the thermoelectric generators market include Gentherm, Inc. (US), II-VI Marlow, Inc. (US), Ferrotec Corporation (Japan), Laird plc (UK), Komatsu Ltd. (Japan). These players have adopted acquisitions, new product launches, contracts, partnerships, acquisitions, and agreements as their primary growth strategies from 2014 to 2019, to expand their presence in the global thermoelectric generators market further.

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