Global Thermoelectric Generators Market: Demand from Automotive Sector to Stimulate Growth

Thermoelectric generators produce electricity from heat that would otherwise be wasted. A thermoelectric power generation system takes in heat from sources such as hot exhausts and produces electricity with the help of thermoelectric modules. The generator produces AC power only after the original DC power from the thermoelectric modules passes through an inverter. To deliver AC power to the customer, an integrated power electronics system is required. The benefit of energy conservation offered by thermoelectric generators has boosted the demand from the global thermoelectric generators market.

New Industrial Applications of Thermoelectric Generators to Create Growth Opportunities for Global Thermoelectric Generators Market

Apart from producing electricity from wasted heat, thermoelectric generators require minimal maintenance operations. The thermoelectric generators used by NASA have been running consistently for over 30 years with no maintenance operation in space analysis. In partnership with the Department of Energy (DOE), NASA is working on a new power system- radioisotope thermoelectric generator, called Multi-Mission RTG. This thermoelectric generator is being developed for operation around various planetary bodies and in outer space. Further technological advancements will lead to an increase in demand for thermoelectric generators. 

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However, thermoelectric generators are ideal for small applications as they have less efficiency than traditional heat engines. Maximizing the efficiency or total power output of a thermoelectric power generation system requires extensive engineering design. This will restrain the growth of the global thermoelectric generators market. The overall market has a huge opportunity to grow with new industrial applications of energy generation by thermoelectric harvesting now coming to the fore.

Automotive Sector Propelling Global Thermoelectric Generators Market

The automotive sector has emerged as the major application segment of the global thermoelectric generators market. Car manufacturers such as Ford, BMW, Volvo, and Volkswagen are collaborating with NASA to develop thermoelectric waste heat recovery systems for higher fuel efficiency in their automotive models. The International Organization of Motor Vehicles Manufacturers estimated that the total production of vehicles worldwide in 2013 rose by 2.8% compared to that in the previous year. The growing number of vehicles poses a huge opportunity for growth of the thermoelectric generators market. 

Researchers are working on potential applications of thermoelectric power generators for powering wireless sensors. The temperature gradient in these generators might be able to address the battery lifetime and reliability issues of wireless sensors. In consumer applications, thermoelectric generators power consumer electronic devices and can be used in body sensing with the help of sensor wristbands. They can even be utilized to convert body heat into electricity to power a wristwatch.

Thermoelectric Generators Market in Asia Pacific Looks Promising

The global thermoelectric generators market has been segmented into five key regions: Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Asia Pacific appears the most promising market for thermoelectric generators owing to the thriving automotive industry in the region. Increased industrialization across the emerging nations in the region will also boost the market for thermoelectric generators.

Some of the key players in the global thermoelectric generators market are Ferrotec Corporation, Laird Plc, Komatsu Limited, TECTEG MFR, and Gentherm Inc. The key players are looking at partnerships and acquisitions while developing and manufacturing industrial thermoelectric generators systems, as a key tool to expand their presence in the global thermoelectric generators market. 

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