According to Stratistics MRC, the Global Thermoelectric Generators Market accounted for $246.06 million in 2016.

GAITHERSBURG, MARYLAND, US, May 16, 2017 /EINPresswire.com/ -- According to Stratistics MRC, the Global Thermoelectric Generators Market accounted for $246.06 million in 2016 and is expected to reach $551.81 million by 2022 growing at a CAGR of 14.4% from 2016 to 2022. Increasing demand from industrial sectors and solid state and immobile devices is fueling the market growth. Lack of efficient energy transfer technologies and need for low maintenance are anticipated to drive the global thermoelectric generator market. However, unawareness regarding thermoelectric devices may hamper the growth of thermoelectric generators in the coming future.

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Waste heat recovery commanded the largest share of the total thermoelectric generator market. Aerospace & defense was one of the biggest application segments. Automotive sector appeared as another significant segment for the thermoelectric generator market. North America dominated the market owing to its increase in demand for cleaner energy. Asia Pacific is expected to witness rapid growth for the thermoelectric generator market during the forecast period due to increased industrialization in the region.

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Some of the key players in the market include Gentherm, Inc., Alphabet Energy (U.S.), Evident Thermoelectrics, Ferrotec Corporation, II-VI Incorporated, Komatsu Limited, Laird PLC, Tecteg, Tellurex Corporation, Yamaha Corporation, Alphabet Energy, Thermo Electric Company, Inc. and Ferrotec Corporation.

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