Thermoelectric Generator Market is projected to grow to USD 635 million by 2026, at a CAGR of 9.4%

According to the new market research report “Thermoelectric Generators Market by Application (Waste Heat Recovery, Energy Harvesting, Direct Power Generation, Co-Generation), Temperature (500c) Wattage, Type, Material, Vertical, Component, Region – Global Forecast to 2026″, published by MarketsandMarkets™, 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.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=91553904

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.

The occurrence of the COVID-19 pandemic is an unparalleled global public health emergency that has disrupted almost every industry, and long-term effects are expected on the thermoelectric modules market as well. This is primarily due to the decline in aerospace, industrial, and automotive applications. Consumer electronics saw a drop in revenue initially in 2020 and is still lagging due to active cases of COVID-19 even in 2021. The telecommunications and medical segments also experienced a slight decline due to total lockdowns since remote communications, medicine/vaccine storage, and transport and pharmaceutical research have been given more importance during the pandemic. This led to a decrease in the growth of the thermoelectric generators market.

“By wattage, low power (