DUBLIN, Nov. 23, 2018 /PRNewswire/ --
The "Global Thermoelectric Generators Market-Technologies, Market share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Global thermoelectric generators market is anticipated to grow with a CAGR of 14.6 % during the forecast period (2017-2024).
Thermoelectric generator converts the heat into electrical energy. Thermoelectric power generation is one of the present interests in clean energy research in view of direct solar power generation this makes thermoelectric power generation a striking application.
Low power thermoelectric generators (100 watt) are usually deployed for mountaineering, camping, hiking and as a backup in homes during power cuts, mainly to charge phones, I-pads, and lighting devices. Numerous big manufacturers are making investments in R&D for the advancement in the technology.
For example, Laird in 2017 advanced a thermoelectric module that put up a laser diode butterfly package. It has been deployed to stabilize the temperature sensitive optical components. In addition to this, internet of things, reduction of CO2 emission and automation of industries is primarily trending in the global thermoelectric generators market.
TEGs (Thermoelectric Generators) play a significant role in CO2 emission reduction as the smoke emitted by automobiles, industrial activities, and electricity production plants, are recovered into electrical energy. However, growing demand for energy across the globe has triggered great importance amongst various organisations and governments around the world for the exploration of new sources of energy.
However, as per the U.S. energy of information administration, total world energy consumption increases from 575 quadrillion British thermal units (Btu) in 2015 to 736 quadrillion Btu by the year 2040, an upsurge of around 28%. The solar thermoelectric generator typically used to syndicate solar thermal collector with a thermoelectric generator, which distributes the electric energy.
Augmented demand of thermoelectric generators by automotive industries: Market booster for thermoelectric generator market
Thermoelectric generators, an electronic device that is majorly used for the reduction of Co2 emission in the commercial vehicles, as it converts waste heat of an Internal combustion engine into electricity. It results in 20% in increase of fuel efficiency and consequently in the reduction of emissions.
According to the international journal of energy and environment Heavy Duty Vehicles (HDV), buses and trucks are accountable for about a quarter of CO2 emissions from road transport in the EU and for some 6% of total EU emissions.
Moreover, a typical passenger vehicle emits around 4.7 metric tons of CO2 annually. This number can differ based on a vehicle's fuel economy, fuel type, and the way the vehicle is maintained with number of miles driven per year as per the United States Environmental Protection Agency.
In addition to this, as per European commission road transport pays for about one-fifth to the EU's over-all emissions of carbon dioxide, the main greenhouse gas. Transport is the key sector in the EU where greenhouse gas emissions are still increasing. More precisely, Light Duty Vehicles such as vans and cars yield around 15% of the EU's emissions of CO2 while Heavy Duty Vehicles such as trucks and buses are responsible for about a quarter of CO2 emissions from road transport in the EU and for some 6% of total EU emissions.
To decrease these emissions, the Council of the European Union and European Parliament reached an agreement at the end of 2013, concerning two regulatory suggestions that are expected to be implemented by 2020 mandatorily forCO2 emission targets for new light-commercial vehicles in the European Union.
However, automotive industry is one of the world's most significant economic sectors by revenue. The global automotive industry is rapidly transforming by rising investment in research and development by the automobile manufacturers for example, Automakers invested around $105 billion globally on research and development in 2015. Consequently, it drives the thermoelectric generators market.
Thermoelectric generators market in Asia Pacific: Lucrative market
Thermoelectric generators are progressively drawing the attention of the automotive industry around the world. However, North America is the leading thermoelectric generators market. Due to huge industrialization, larger disposable income, and increase in demand for clean energy is expected to boost the thermoelectric generators demand in North America.
However, the Asia Pacific is anticipated to be the fastest growing region during the forecast period. Due to the growing demand for vehicles, this sequentially drives growth of the thermoelectric generator market.
As thermoelectric generator is deployed in vehicles for automotive waste heat recovery also it helps in reducing the CO2 emission emitted by vehicles. Asia pacific region that include India, China, Japan and South Korea accounted for ~52% of the global passenger car and commercial vehicle production in 2015 as per the bureau of transport statistics (US). Consequently, the large share of production of vehicle in the region helps to drive the thermoelectric generators market in the Asia Pacific.
Key Topics Covered:
1. Introduction
2. Market Overview
2.1. Global Thermoelectric Generators Market: Evolution & Transition
2.2. Market Definition And Scope
2.3. Industry Structure
2.4. Regulatory Framework
2.5. Total Market Analysis
2.5.1. Top 5 Findings
2.5.2. Top 5 Opportunity Markets
2.5.3. Top 5 Companies
2.5.4. Top 3 Competitive Strategies
2.6. Estimation Analysis
2.7. Strategic Analysis
2.7.1. Investment Vs. Adoption Model
2.7.2. 360 Degree Industry Analysis
2.7.3. Porter's 5 Force Model
2.7.4. See-Saw Analysis
2.7.5. Consumer Analysis And Key Buying Criteria
2.8. Competitive Analysis
2.8.1. Key Strategies And Analysis
2.8.2. Market Share&Top Company Analysis
2.9. Strategic Recommendations & Key Conclusions
2.9.1. Investment Opportunities By Regions
2.9.2. Opportunities In Emerging Applications
2.9.3. Investment Opportunity In Fastest Growing Segment
3. Market Determinants
3.1. Market Drivers
3.1.1. Augmented Demand Of Thermoelectric Generators By Automotive Industries
3.1.2. Growing Demand For Miniaturized Thermoelectric Generators
3.1.3. Requirement For Maintenance Free And Durable Power Sources
3.1.4. Growing Concerns Over Emissions And Environmental Issues
3.2. Market Restraints
3.2.1. High Cost Of Production Of Thermoelectric Material
3.2.2. Low Efficiency Of Thermoelectric Devices
3.3. Market Opportunities
3.3.1. Increase In The Demand For Thermoelectric Generators In Medical Devices
3.3.2. Growing Industrial Automation Across The World
3.4. Market Challenges
3.4.1. Availability Of Substitutes
4. Market Segmentation
4.1. Global Thermoelectric Generators Market By Source
4.1.1. Market Definition And Scope
4.1.2. Decision Support Database & Estimation Methodology
4.1.3. Comparative Analysis Across Market Segments
4.1.4. Opportunity Matrix
4.1.5. Market Segmentation
4.1.5.1. Global Waste Heat Recovery Market
4.1.5.2. Global Energy Harvesting Market
4.1.5.3. Global Direct Power Generation Market
4.1.5.4. Global Co-Generation Market
4.2. Global Thermoelectric Generators Market By End User
4.2.1. Market Definition And Scope
4.2.2. Decision Support Database & Estimation Methodology
4.2.3. Comparative Analysis Across Market Segments
4.2.4. Opportunity Matrix
4.2.5. Market Segmentation
4.2.5.1. Global Automotive Market
4.2.5.2. Global Aerospace Market
4.2.5.3. Global Defense Market
4.2.5.4. Global Industrial Market
4.2.5.5. Global Consumer Market
4.2.5.6. Global Others Market
4.3. Global Thermoelectric Generators Market By Temperature
4.3.1. Market Definition And Scope
4.3.2. Decision Support Database & Estimation Methodology
4.3.3. Comparative Analysis Across Market Segments
4.3.4. Opportunity Matrix
4.3.5. Market Segmentation
4.3.5.1. Global Low Temperature Market
4.3.5.2. Global Medium Temperature Market
4.3.5.3. Global High Temperature Market
4.4. Globalthermoelectric Generators Market By Material
4.4.1. Market Definition And Scope
4.4.2. Decision Support Database & Estimation Methodology
4.4.3. Comparative Analysis Across Market Segments
4.4.4. Opportunity Matrix
4.4.5. Market Segmentation
4.4.5.1. Global Bismuth Telluride Market
4.4.5.2. Global Lead Telluride Market
4.4.5.3. Global Others Market
5. Competitive Landscape
5.1. Key Strategies
5.1.1. List Of Mergers & Acquisitions
5.1.2. List Of Joint Ventures
5.1.3. List Of Product Launches
5.1.4. List Of Partnerships
6. Global Thermoelectric Generators Market By Region
7. Company Profiles
- Alphabet Energy (U.S.)
- Evident Thermoelectrics (U.S.)
- Ferrotec Corporation (U.S.)
- Gentherm, Inc. (U.S.)
- Ii-Vi Incorporated (U.S.)
- Kelk Ltd. (Japan)
- Kryotherm Company (Russia)
- Laird Plc (U.K.)
- Phononic, Inc. (U.S.)
- RIF Corporation (Russia)
- RMT Ltd. (Russia)
- Tecteg MFR (Canada)
- Tegpro Thermoelectric Generator (U.S.)
- Tellurex Corporation (U.S.)
- Yamaha Corporation (Japan)
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