The global automotive thermoelectric generator market size reached US$ 40.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.0 Million by 2028, exhibiting a growth rate (CAGR) of 12.0% during 2023-2028.
An automotive thermoelectric generator is a device that transforms the waste heat of an internal combustion engine (ICE) into electrical energy using the Seebeck effect. It contains heat exchangers, cooling plates, compression assembly, and thermoelectric materials, such as bismuth telluride (Bi2Te3), lead telluride (PbTe), skutterudite, and magnesium silicide. An automotive thermoelectric generator is widely used to power various systems of the vehicle, such as infotainment, air conditioning, lighting, and small refrigerators. It is a relatively simple system that recycles wasted heat energy, reduces fuel consumption, minimizes operating costs, and supports vehicle electrification. An automotive thermoelectric generator is also eco-friendly and lightweight, requires low maintenance, and doesn’t generate noise or vibrations.
Automotive Thermoelectric Generator Market Trends:
The increasing demand for fuel-efficient vehicles is one of the primary factors driving the market growth. An automotive thermoelectric generator is widely used in passenger and commercial vehicles to reduce fuel consumption and improve efficiency. It also replaces the generator load, provides faster warm-up of the engine and transmission, minimizes added mass, and converts selected mechanical functions of the vehicles into electrical parts, such as coolant, oil, and trans fluid pumps. Furthermore, the extensive product utilization due to the rising environmental concerns, as they reduce carbon dioxide (CO2) emissions and minimize the use of refrigerants in cooling systems, is favoring the market growth. Apart from this, the implementation of stringent emission policies by several governments is acting as another growth-inducing factor. Additionally, the recent development of thin film thermoelectric generators for automotive applications that provide enhanced efficiency, scalability, cost-effectiveness, and reduced material wastage is positively influencing the market growth. Other factors, including increasing product adoption in hybrid and electric vehicles (H/EVs), extensive research and development (R&D) activities, rapid electrification of existing vehicles, and rising expenditure capacities of consumers, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive thermoelectric generator market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, material, vehicle type and application.
Breakup by Component:
- Thermoelectric Module
- Cooling Plates
- Heat Exchangers
Breakup by Material:
- Magnesium Silicide
- Bismuth Telluride (Bi2Te3)
- Lead Telluride (PbTe)
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Application:
- Waste Heat Recovery
- Energy Harvesting
- Direct Power Generation
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Coherent Corp., European Thermodynamics Ltd., Ferrotec (USA) Corporation (Ferrotec Holdings Corporation), Laird PLC, SANGO Co. Ltd., Thermonamic Electronics (Jiangxi) Corp. Ltd. and Yamaha Corporation. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
||Component, Material, Vehicle Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Coherent Corp., European Thermodynamics Ltd., Ferrotec (USA) Corporation (Ferrotec Holdings Corporation), Laird PLC, SANGO Co. Ltd., Thermonamic Electronics (Jiangxi) Corp. Ltd. and Yamaha Corporation.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global automotive thermoelectric generator market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global automotive thermoelectric generator market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the material?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global automotive thermoelectric generator market and who are the key players?
- What is the degree of competition in the industry?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the automotive thermoelectric generator market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global automotive thermoelectric generator market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the automotive thermoelectric generator industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.