Automotive Thermoelectric Generator Market by Component (Cold Side, Electric Load, Heat Source), Material (Bismuth Telluride, Lead Telluride), Temperature, Application, Vehicle Type - Global Forecast 2024-2030

Automotive Thermoelectric Generator Market by Component (Cold Side, Electric Load, Heat Source), Material (Bismuth Telluride, Lead Telluride), Temperature, Application, Vehicle Type - Global Forecast 2024-2030

The Automotive Thermoelectric Generator Market size was estimated at USD 194.49 million in 2023 and expected to reach USD 211.94 million in 2024, at a CAGR 9.24% to reach USD 361.29 million by 2030.

An automotive thermoelectric generator device alters heat energy directly into electrical energy through a phenomenon referred to as the Seebeck effect. This innovative technology harnesses the temperature differential between the hot exhaust gasses emitted by an internal combustion engine and the cooler ambient air. By leveraging this temperature gradient, ATEGs produce electricity that can power vehicle electronics and improve overall fuel efficiency. The increasing environmental concerns and the stringent emission norms imposed by governments worldwide are accelerating the adoption of automotive thermoelectric generators. In addition, the rising demand for fuel-efficient vehicles is boosting the deployment of automotive thermoelectric generators. However, the high cost of thermoelectric materials and complexity integration concerns impose significant challenges for manufacturers. Furthermore, rapid advancements in thermoelectric materials and technologies play a significant role in market expansion.

Regional Insights

The United States and Canada make up the primary markets for ATEGs in the Americas. The American region has been a frontrunner in the development and implementation of thermoelectric technologies, fueled by government initiatives and the presence of key automobile manufacturers and technological firms. The EU is at the forefront in the EMEA region, promoting ATEG technology through its strong environmental regulations and policies aimed at reducing vehicle emissions. Germany, France, and the UK are prominent in ATEG research and implementation, supported by both government initiatives and the existence of major automotive manufacturers. The Middle East, despite its vast oil reserves, has begun exploring sustainable and efficient technologies, including ATEG, primarily led by initiatives in countries such as the UAE. The APAC region, led by China, Japan, and India, is witnessing a robust increase in the adoption of automotive thermoelectric generators, driven by stringent environmental regulations and the swift expansion of the automotive industry. The APAC region, being a global manufacturing hub, exhibits significant research and investment in ATEG technology. The ongoing technological innovation continues to contribute significantly to ATEG research.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Thermoelectric Generator Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing demand for fuel efficient vehicles globally
• Rising consumer shift towards electric and hybrid vehicles
• Stringent norms imposed by the governments on vehicles emission

Market Restraints

• Constraints of high cost of installation of thermoelectric generators

Market Opportunities

• Technological advancement in thermoelectric materials for power generation
• Emergence of solar-based thermoelectric generators to recycle wasted heat energy

Market Challenges

• Complexity associated with integrating ATEGs into existing vehicle

Market Segmentation Analysis

• Component: Ongoing technological advancement in thermoelectric modules for high-performance vehicles
• Application: Rising investments for the development of advanced exhaust heat recovery systems

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Thermoelectric Generator Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Thermoelectric Generator Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Yamaha, Sumitomo Corp demonstrates CO2 reduction by Thermoelectric Generator

Yamaha Corporation, in partnership with Sumitomo Corporation Power & Mobility Co., Ltd., a subsidiary of Sumitomo Corporation, has showcased an innovative waste heat recovery system utilizing thermoelectric generator (TEG) technology. This cutting-edge system capitalizes on the heat from exhaust gasses to generate electrical power, thereby demonstrating a notable reduction in CO2 emissions during evaluations on a chassis dynamometer.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Thermoelectric Generator Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Thermoelectric Generator Market, highlighting leading vendors and their innovative profiles. These include BMW AG, Coherent Corp., Ecogen Technology, European Thermodynamics Ltd., EVERREDtronics Ltd., Faurecia SE, Ford Motor Company, General Motors Company, Gentherm Incorporated, Hi-Z Technology, Inc., Hitachi, Ltd., Kelk Ltd. by Komatsu Ltd., Kryotherm, Kyocera Corporation, Laird PLC, Linseis Messgeräte GmbH, Phononic, Prayogik by Tracxn Technologies Ltd., RMT Ltd. by Ferrotec Holdings Co., Ltd., Tenneco Inc., Valeo, Volkswagen Group, and Yamaha Corporation.

Market Segmentation & Coverage

This research report categorizes the Automotive Thermoelectric Generator Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Component
• Cold Side
• Electric Load
• Heat Source
• Thermoelectric Module
• Material
• Bismuth Telluride
• Lead Telluride
• Temperature
• High Temperature
• Low Temperature
• Medium Temperature
• Application
• Cabin Heating
• Engine Heat Recovery
• Exhaust Heat Recovery
• Vehicle Type
• Commercial Vehicles
• Passenger Vehicles

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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