Thermoelectric
generators are the solid state devices that convert heat into
electricity with the help of temperature difference. These generators
do not have any moving parts and are fully silent unlike the
traditional heat engines. Thermoelectric generators have been used
consistently for more than 30 years with no maintenance operation in
space analysis such as in the voyager missions of NASA. NASA in
collaboration with the Department of Energy has been developing a new
power system that could be used in various space missions. The new
radioisotope thermoelectric generator (RTG), which is called a
Multi-Mission RTG (MMRTG), is being designed for operating in various
planetary bodies such as Mars, as well as in vacuum space. Thus, with
further technology advancements, thermoelectric generators are
expected to see rise in demand in the long run.
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However,
in large applications, thermoelectric generators have less efficiency
than the traditional heat engines, which may hamper the market growth
potential. Currently, they are highly preferred in small applications
due to their cost effective, simple, compact as well as scalable
nature. Thermoelectric phenomenon, on which these generators work, is
extensively used for heating as well as cooling applications too. In
recent years thermoelectric generators have also been used in various
new applications of energy generation by thermoelectric harvesting.
The new applications are varied which include industrial and
terrestrial applications.
Thermoelectric
systems can be operated with small heat sources and less temperature
difference and can also be mass produced for automotive waste heat
recovery or electricity and heat co-generation in homes and
businesses. Among all the application areas, automotive is considered
to be the high potential segment for thermoelectric generators market
due to steadily increasing number of automobiles, globally. According
to International Organization of Motor Vehicles Manufacturers (OICA)
2015, there is 2.8% increase in the total production of vehicles from
2013 to 2014. The car manufacturing companies, such as Volkswagen,
Ford, BMW and Volvo in collaboration with NASA are developing
thermoelectric waste heat recovery systems, for fuel economy
purposes. Likewise, these generators (with a temperature
differentials)if used for powering wireless sensors would prevent
battery lifetime and reliability issues. Such developments in the
thermoelectric generators and their applications increase the
adoption trends among the end users. In consumer applications, the
thermoelectric generators provide various benefits such as energy
saving while cooking with the use of thermo-power cooking sensors,
and in powering of consumer electronic devices. These generators are
even used in body sensing with sensory wristbands, athletic apparel
that check the heart rate and body temperature. They can be even
miniaturized to gather body heat to power a wristwatch. Asia Pacific
is considered to be fastest growing segment in the adoption of
thermoelectric generators market. According to OICA Vehicle
Production Statistics 2015, 3.5% of increase in the vehicles
production had occurred from the year 2013 to 2014in Asia Pacific as
compared to other regions. Increased industrialization in this region
is also expected to increase the demand for thermoelectric generators
in the market.
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There
are many significant product launches and acquisitions carried out by
the companies in order to increase their competitiveness in the
thermoelectric generators market. For instance, in April 2014,
Gentherm, Inc. acquired Global Thermoelectric Inc. (GTE) which
manufactured and developed industrial thermoelectric generator
systems as well as remote power generation. In March 2014, Gentherm,
Inc. announced the launch of a new thermal conditioning system as
well as climate control system for beds and home furniture. Also, in
December, 2014 TECTEG MFR , the other thermoelectric generator
manufacturer, signed an agreement with TKB Industrial, for developing
a maximum power tracking and smart charge controller for
thermoelectric generator battery system in order to get better power
performance. The major players in the market are Gentherm, Inc.,
II-VI Incorporated, Ferrotec Corporation, Laird Plc, TECTEG MFR and
Komatsu Limited.
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