The Thermoelectric Generators Market is projected to grow from an estimated USD 368.5 Million in 2017 to USD 715.8 Million by 2022, at a CAGR of 14.20% during the forecast period, 2017 to 2022. The base year considered for this study on the thermoelectric generators market is 2016 and the forecast period is from 2017 to 2022.
Factors such as rapid commercialization of thermoelectric generators in the automotive industry, and increasing demand for miniaturized TEGs are leading to the growth of the thermoelectric generators market.
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Major players operating in the thermoelectric generators market include Gentherm Inc. (U.S.), II-VI Marlow, Inc. (U.S.), Ferrotec Corporation (Japan), Laird plc (U.K.), KELK Ltd. (Japan), Yamaha Corp. (Japan), and Evident Thermoelectrics (U.S.), among others.
The thermoelectric generators market has been studied for North America, Europe, Asia-Pacific, and Rest of the World (RoW). The North American region is estimated to be the largest market for thermoelectric generators in 2017. Countries, such as the U.S. and Canada in the North American region are witnessing an increasing adoption of thermoelectric generators in the automotive industry. The markets in the European and Asia-Pacific regions are also expected to witness high growth, owing to the rapid commercialization of thermoelectric generators in industrial applications.
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