Thermoelectric generators are devices that help in converting heat into electricity via the Seebeck effect. Thermoelectric generators do not comprise any moving parts, are more compact than traditional heat engines, but typically cost more than heat engines. The demand for thermoelectric generators in the healthcare sector and the increasing demand for low-power generators in sensor networks are some of the opportunities for market players to expand their horizon and create a niche for themselves. Thermoelectric generators are being widely used in diverse industries including aerospace and defense and automotive.
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The need for durable and maintenance-free power sources, growing demand for devices with fewer moving parts, and government regulations favoring the growth of thermoelectric technology are some of the major factors that are estimated to fuel the growth of this market in the forecast period. On the other hand, the inefficiency of thermoelectric generators when it comes to producing high output power and the high cost of thermoelectric materials are the factors hampering the growth of the overall market.
On the basis of geography, the global thermoelectric generators market has been divided into North America, Asia Pacific, Europe, and Rest of the World. Among these regions, the North America market accounts for the largest share in the overall market supported mainly by robust demand from the automotive industry. However, the Asia Pacific market is expected to witness the highest growth rate in the next few years.
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Furthermore, the research study covers the competitive landscape and vendor analysis of the global market for thermoelectric generators. The study provides detailed profiles of the players, including their business policies, financial overview, SWOT analysis, contact information, and recent developments, if any. Some of the leading players operating in the global market for thermoelectric generators are Tellurex Corporation, Laird PLC, Alphabet Energy, Ferrotec Corporation, II-VI Incorporated, Yamaha Corporation, Tecteg, Evident Thermoelectrics, Komatsu Limited, and Gentherm, Inc.