Automotive Thermoelectric Generator Market 2021 Size, Share, Industry Trends, Future Development, Outlook, Growth Analysis and 2028 Forecast

(The Express Wire via Comtex)

The global automotive thermoelectric generator market size is expected to gain momentum owing to the increasing demand for fuel-efficient vehicles during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Automotive Thermoelectric Generator Market, 2021-2028.” A significant amount of heat is wasted during the energy conversion process in the automobile industry. A thermoelectric generator provides a method to reduce this waste. By turning waste heat into a usable form that may be used to power auxiliaries and vehicle systems like air conditioning, entertainment, and lighting, thermoelectric generators have a high potential to cut fuel usage. The vehicle industry's rapid improvements, inventions, and engine fuel efficiency are expected to drive the market.

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List of Key Players Profiled in the Global Market for Fuel Cells for Automotive Thermoelectric Generator:

  • AMAHA Motor Pvt Ltd
  • Valeo Faurecia
  • SinaSoft Co.
  • European Thermodynamics
  • Thermonamic Electronics

Increasing Number of Mergers to Create Opportunities for Market Growth

Domestic and international players are being compelled to focus more on technology and price structure due to increased competition. To achieve these goals, key players must continue to invest in RandD, strategic acquisitions, agreements, mergers and acquisitions, and collaborations to develop a diverse range of products that meet customer demand in the automotive thermoelectric generator.

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Increasing Demand for Reliable Power Sources to Stimulate Growth

The global automotive thermoelectric generator market growth is expected to grow due to the rising demand for durable vehicles during the projected period. Because they require maintenance, most power supplies, such as batteries and various generators, add to overall expenses. Thermoelectric generators are not only dependable and long-lasting, but they are also environmentally friendly due to their lack of chemical components. They are silent because they lack mechanical components, and they can be made from various substrates such as silicon, polymeric, and ceramic.

Increasing Demand for Fuel-Efficient Vehicles to Promote Growth in Asia Pacific

Asia Pacific is expected to hold the largest global automotive thermoelectric generator market share during the forecast period. The increasing demand for fuel-efficient vehicles, expanding industrialization, RandD activities, manufacturing of thermoelectric generators, are major contributing factors in the region. Europe is expected to have a sizable share of the market. A strong automobile base, increased government restrictions to minimize greenhouse gas emissions, and more research and development in nations like France and the United Kingdom are expected to promote potential growth in the region.

Automotive Thermoelectric Generator Market Segmentation:

By Type

  • Cooling Plates
  • Thermoelectric Module
  • Heat Exchangers
  • Others

By Application Type

  • Passenger Cars
  • Commercial Vehicles

By Geography

  • North America (USA, Canada, and Mexico)
  • Europe (Germany, France, U.K., and Rest of Europe)
  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
  • Rest of the World

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Industry Development-

March 2021:Yamaha Corporation has created the YGPX024 thermoelectric power generation (TEG) module, which uses the heat energy from car exhaust fumes to generate electricity.

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Press Release Distributed by The Express Wire

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