Lucintel's latest market report analyzed that thermoelectric generator provides attractive opportunities in the automotive, aerospace & defense, marine, industrial, consumer electronic, healthcare, oil & gas, mining, and telecommunication markets. The thermoelectric generator market is expected to reach $1,002.6million by 2028 with a CAGR of 9.8%. In this market, heat source is the largest segment by component, whereas aerospace & defense is largest by end use industry.
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Based on component, the thermoelectric generator market is segmented into heat source, thermoelectric module, cold side, and electric load. The heat source segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its increasing usage in the automotive sector owing to its capability to convert heat flux into electrical energy and also helps in reducing carbon emissions from vehicles.
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The Thermoelectric Generator Market is marked by the presence of several big and small players. Some of the prominent players offering thermoelectric generator include Gentherm, Ferrotec Holdings, Yamaha Corp., Thermo Electric Company, Laird Thermal Systems, Komatsu, Kyocera Corporation, Phononic Devices, and II-VI Marlow.
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