Thermoelectric Generators Market to Experience High Demand in Automotive and Aerospace Industries

The overall Thermoelectric Generator Market is projected to grow from USD 406 million in 2021 to USD 635 million by 2026, at a CAGR of 9.4% from 2021 to 2026. North America is estimated to account for the largest share of the thermoelectric generator market from 2021 to 2026.

Thermoelectric generators and thermoelectric materials that were previously utilized primarily in niche applications are now becoming more popular with the introduction of wider automotive applications and the efforts to exploit waste-heat-recovery technologies. Thermoelectric generators are not only highly reliable and durable, but they are also environmentally friendly because they do not include chemical products. These reasons are boosting their demand further.

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The outbreak of COVID-19 and its resultant lockdowns and supply chain disruptions have adversely affected the TEG market, with the suspension and delay to carry out TEG manufacturing operations in 2020. The condition still is not normal in the first quarter of 2021, due to ongoing surge in COVID-19 cases worldwide.

Based on wattage, the thermoelectric generators market is segmented into low power ( 1 kW). The power produced by thermoelectric generators is highly dependent upon the temperature applied to their plates. The low power (

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