Seebeck Generator Market Expected To Reach $1443.3 Million by 2030 | Registering a CAGR of 11.8%.

Research Report on Seebeck Generator Market for Exploring Various Growth Dimensions

PORTLAND, OREGON, UNITED, September 22, 2023/EINPresswire.com/ -- Allied Market Research published a report on the Thermoelectric Generator (TEG) Market by Material (Bismuth Telluride, Lead Telluride, and Others), Application (Waste Heat Recovery, Consumer Harvesting, Direct Power Generation, and Co-generation), and End-use Industry (Automotive, Aerospace, Industrial, Consumer, and Healthcare): Global Opportunity Analysis and Industry Forecast, 2021-2030.

The global Seebeck Generator Market size was valued at $472.5 million in 2020, and is projected to reach $1443.3 million by 2030, growing at a CAGR of 11.8% from 2021 to 2030.

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Temperature differences are converted into electrical energy by the Thermoelectric/Seebeck Generator. The seebeck effect and the Peltier effect are two key physical phenomena involved in this process. The seebeck effect describes the conversion of temperature differential into electric current at the interface of two materials, whereas the Peltier effect is the opposite of the seebeck effect. Thermoelectric materials turn temperature differences into electric voltage to create electricity directly from heat. To be acceptable for the thermoelectric conversion process, these materials must have both high electrical conductivity and low heat conductivity.

Thermoelectric/Seebeck Generators and thermoelectric materials that were previously utilized primarily in niche applications are now gaining high popularity with the introduction of wider automotive applications and the efforts to exploit waste-heat-recovery technologies. Thermoelectric/Seebeck Generators are not only highly reliable and durable but they are also environmentally friendly, as they do not include chemical products. These factors are collectively contributed to the global Thermoelectric/Seebeck Generator market growth. Moreover, the surge in demand for energy across various end-user industries such as automobile, aerospace, and defense and the rise in concerns about environmental and emissions issues, particularly global warming, has propelled the demand for Thermoelectric/Seebeck Generator.

The global Thermoelectric/Seebeck Generator market is segmented on the basis of material, application, end-use industry, and region. Based on the material, the global Thermoelectric/Seebeck Generator market is segmented into bismuth telluride, lead telluride, and others. The bismuth telluride segment accounted for the largest share in 2020 and is projected to witness growth at the highest CAGR of 12.0%.

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Based on the application, the global Thermoelectric/Seebeck Generator market is segmented into waste heat recovery, energy harvesting, direct power generation, and co-generation. The waste heat recovery segment accounted for the largest share in 2020 and is projected to witness growth at the highest CAGR of 12.4%.

Competitive Analysis:

The Thermoelectric/Seebeck Generator industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players in the global Thermoelectric/Seebeck Generator market include,

Laird Thermal Systems,
Phononic, Gentherm, Inc.
II-VI MARLOW, INC.
Komatsu Ltd.
Global power technologies
YAMAHA CORPORATION CO., LTD.
Ferrotec Holdings Corporation
TEC Microsystems GmbH
KYOCERA Corporation

End-use Industry of Thermoelectric/Seebeck Generator includes automotive, aerospace, industrial, consumer, and healthcare. The aerospace segment accounted for the largest share of the Thermoelectric/Seebeck Generator market in 2020, while the Industrial segment is projected to witness growth at the highest CAGR of 12.4%.

Region-wise, the thermoelectric generator market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share of the market in 2020, while Asia-Pacific was the fastest-growing region.

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Key Findings Of The Study:

1. On the basis of material, the bismuth telluride segment emerged as the global leader by acquiring more than 66% of the market share in 2020 and is anticipated to continue this trend during the forecast period.

2. On the basis of application, the waste heat recovery segment emerged as the global leader by acquiring more than 46% of the market share in 2020 and is anticipated to continue this trend during the forecast period.

3. On the basis of the end-use industry, the Aerospace segment emerged as the global leader by acquiring more than 26% of the market share in 2020 and is anticipated to continue this trend during the forecast period.

4. On the basis of region, North America is the major consumer of Thermoelectric/Seebeck Generator among other regions. It accounted for around 39% of the global market share in 2020.

About Us:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Allied Market Research
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