Thermoelectric Materials Market Size by 2027 | Industry Segmentation by Type, Application, Regions, Key News and Top Com

The global thermoelectric materials market is projected to be worth USD 96.2 Million by 2027, according to a current analysis by Emergen Research. The thermoelectric materials market is observing high demand attributed to the increasing demand for automotive fuel efficiency. Automotive exhaust contributes significantly to global greenhouse gas emissions (GHG), with a typical passenger vehicle accounting for the emission of around 4.6 tons of CO₂ annually. Also, it has been estimated that the total number of light-duty vehicles (LCVs) plying on the roads would surpass 2 billion by the year 2050 and, in turn, would consume a substantial amount of global oil production. Automotive thermoelectric generator technology encompasses vehicular exhaust heat conversion into electric energy that may be utilized for various electrical systems of the automobile, thereby improving fuel efficiency and reducing GHG emission. The growing demand for thermoelectric generator, in turn, would drive the demand for thermoelectric materials.

The global Thermoelectric Materials market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Thermoelectric Materials market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Thermoelectric Materials market.

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Furthermore, the report provides a comprehensive overview of the Thermoelectric Materials Market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Regional Analysis:

The report sheds light on the region expected to dominate the Thermoelectric Materials market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Thermoelectric Materials market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

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Key Highlights From The Report

In May 2020, Laird Thermal Systems introduced an innovative model of high-performance thermoelectric coolers capable of delivering a 10.0% improvement in heat pumping capacity, better temperature differential, and better efficiency compared to regular thermoelectric coolers.
Thermoelectric materials, owing to the large Peltier effect, find widespread usage in power generation and solid-state refrigeration applications.
Silicon Germanium thermoelectric materials have garnered substantial traction for energy harvesting and driving space applications, among others. Devices made of silicon germanium alloy can operate at temperatures above 1300 degrees Centigrade without undergoing degradation, high oxidation resistance, and low thermal expansion coefficient.

Key participants include Laird Thermal Systems Inc., Marlow Industries Inc., Thermonamic Electronics, Tellurex, Ferrotec, EVERREDtronics, Hi-Z, RMT Ltd., KELK, and Crystal Ltd., among others.

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Emergen Research has segmented the global thermoelectric materials market on the basis of product type, distribution channel, application, and region: