Monday 4 February 2019, Amsterdam
According to a new market intelligence report, titled "Global Automotive Thermoelectric Generator Market - Analysis and Forecast, 2022-2028", the Automotive Thermoelectric Generator Market is expected to be valued at $31.42 million
in 2022 and is anticipated to reach $61.44 million
by 2028 growing at a CAGR of 12.43%
during the forecast period 2022-2028. The growth in the market is expected to be attributed to the rising government regulations related to greenhouse gas emissions from the automotive vehicles. The adoption of thermoelectric generator in the automotive industry is expected to not only help in reducing the greenhouse gas emission but also in increasing the fuel efficiency of the internal combustion engine. Some of the factors expected to provide the opportunity for growth of the automotive thermoelectric generator market are increasing fuel efficiency requirements in the automotive industry and rapid commercialization in the automotive industry. The key market players in the global automotive thermoelectric generator market are Alphabet Energy, Inc., Tenneco Inc., Faurecia, Valeo, Laird PLC, and Yamaha Corporation, among others.
The advantages related to the use of thermoelectric generator in the automotive industry gained an enormous traction in the past with various automotive manufacturers, such as General Electric, Ford Motors, BMW, and Volkswagen, heavily investing in the research & development of the technology. Even though the technology is still in its nascent stage, it has the ability to bring high-level implications which are expected to transform the automotive industry. With the increasing government regulations on the emission of greenhouse gases, the technology has captured the interest of both the Original Equipment Manufacturers (OEMs) and research & development institutes. With companies, such as General Electric, Faurecia, Valeo, and European Thermodynamics, investing in the technology, the thermoelectric generator is expected to be integrated in passenger as well as commercial vehicles in the coming future with a view to increase fuel efficiency of the engine and reducing greenhouse gas emissions. Owing to the increasing requirement of a technology, which can reuse the waste heat generated from the vehicles, BIS Research has published a report titled, “Global Automotive Thermoelectric Generator, Analysis & Forecast 2022-2028”, incorporating a comprehensive segmentation of the market into material-type, components, vehicle-type, and geography.
Due to the increasing fuel efficiency requirements in the automotive industry, The key player has incorporated a detailed chapter on the market dynamics including the key driving and restraining forces, along with the opportunities for the global automotive thermoelectric generator market. The market numbers play an important role in the industry, following which a proper market sizing and estimation for material-type, components, vehicle-type and regions have been undertaken for the industry.
Some of the key companies covered in the report are Alphabet Energy, Inc., Tenneco Inc., Faurecia, Valeo, Laird PLC II-VI Marlow, KELK Ltd., SANGO Co., Ltd., and European Thermodynamics.
According to analyst Arpit Gupta, “The automotive thermoelectric generator market is expected to grow over $61.44 million by 2028 growing at a CAGR of 12.43% in the forecast period 2022-2028, with North America leading the market. Rising need for a technology that can harness energy from waste heat which can be used to drive the auxiliaries in the automotive vehicles is one of the major factors attracting the OEMs to invest in the research & development of thermoelectric generator. As the conversion efficiency of the thermoelectric generator is very low and an optimum cost per watt ratio has not yet been achieved, the market for thermoelectric generator in the automotive industry has not yet gained prominence. However, with a view to reduce dependence on fossil fuels and decrease greenhouse gas emissions, the development of thermoelectric generator for automotive vehicle is becoming a necessity.”
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends. It also includes corporate overview, financials, financial summary, and SWOT analysis of the major players in the market. The overall market has been segmented by material-type, components, and vehicle-type. It also includes a comprehensive section on the geographical analysis, which has been sub-segmented into four major regions namely: North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW).
This report is a meticulous compilation of research on more than 30 major players in the thermoelectric generator industry. Moreover, it draws upon insights from in-depth interviews of key opinion leaders of more than 15 leading companies, market participants, and vendors.
Key questions answered in the report
- What is Thermoelectric Energy Harvesting?
- What is Automotive Thermoelectric Generator and why is it needed?
- What are the key technologies used in the automotive industry to recover waste heat?
- What are the trends in the global automotive thermoelectric generator market?
- What are the major forces that are expected to drive the demand for global automotive thermoelectric generator market?
- What are the major factors inhibiting the growth of the global automotive thermoelectric generator market?
- What are the opportunities for the global automotive thermoelectric generator market?
- What will be the revenue generated by the Automotive Thermoelectric Generator Market in 2022, and what will be the estimates by 2028?
- Which material type (Bismuth Telluride, Lead Telluride, Skutterudite, and Magnesium Silicide) of the global automotive thermoelectric generator will dominate the market between 2022 and 2028?
- What are the key components used for Automotive Thermoelectric Generator and what will be its market size during forecast period 2022-2028?
- What is the revenue generated by each vehicle type (Commercial and Passenger)?
- What is the expected market size for Automotive Thermoelectric Generator in each region i.e. North America, Europe, Asia-Pacific and Rest-of-the -World?
- Who are the key players in the global Automotive Thermoelectric Generator Market?
- What is the future of Thermoelectric Generator in Automotive Industry?
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