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Thermoelectric Generators - Company Evaluation Report, 2025 (Abridged Report)

Publisher MarketsandMarkets
Published Aug 01, 2025
Length 97 Pages
SKU # MKMK20276706

Description

The Thermoelectric Generators Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Thermoelectric Generators. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 220 companies, of which the Top 23 Thermoelectric Generators Companies were categorized and recognized as quadrant leaders.

Thermoelectric generators (TEGs) are gaining widespread adoption for power generation across diverse industries, including automotive, aerospace and defense, industrial manufacturing, consumer electronics, healthcare, oil and gas, mining, and telecommunications. Originally developed for heating and cooling applications, recent advancements have enabled their use as energy-harvesting devices. Growing demand for renewable and sustainable energy sources has driven significant research and development in TEG technology.

TEGs are utilized in waste heat recovery, energy harvesting, direct power generation, and co-generation systems. Their ability to recycle heat and operate as self-powered systems has led to increased adoption, particularly in domestic and energy sector applications. With increasing energy demands and the need for precise temperature control in microdevices, thermoelectric technology—capable of converting heat into electricity and vice versa—has attracted growing interest in both power generation and solid-state cooling applications. It offers power generation capabilities from thermal sources in a variety of settings, including terrestrial systems and space exploration.

The 360 Quadrant maps the Thermoelectric Generators companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Thermoelectric Generators quadrant. The top criteria for product footprint evaluation include By Type (Single-stage, Multi-stage), By Material (Bismuth Telluride, Lead Telluride, Others), By Temperature (Low (<80°C), Medium (80°- 500°C), High (> 500°C)), By Power (Low Power, Medium Power, High Power), By Application (Waste Heat Recovery, Energy Harvesting, Direct Power Generation, Co-generation), and By Industry (Automotive & Transportation, Aerospace & Defense, Marine, Industrial, Consumer, Oil & Gas, Medical, Data Centers).

Key Players

Key players in the Thermoelectric Generators market include major global corporations and specialized innovators such as Global Power Technologies Inc., Coherent Corp. , Ferrotec Holdings Corporation , Komatsu Ltd. , and Kyocera Corporation, Micropelt GmbH, RMT Ltd. , and Advanced Thermoelectrics, Teledyne Technologies Inc., O-Flexx Technologies GmbH, and RIF, EVERREDtronics , Wellen Technology Co. Ltd., and Custom Thermoelectric, LLC. These companies are actively investing in research and development, forming strategic partnerships, and engaging in collaborative initiatives to drive innovation, expand their global footprint, and maintain a competitive edge in this rapidly evolving market.

Top 3 Companies

Komatsu Ltd.

Komatsu began its research into thermoelectric semiconductors in 1957, leading to the subsidiary of KELK Ltd. in 1966 as a dedicated manufacturer of applied thermoelectric products. Komatsu—a global leader in construction machinery—specializes in thermoelectric technology. The company focuses on the development and manufacturing of thermoelectric modules (Peltier modules) and temperature control systems that leverage thermoelectric semiconductors for precision applications across semiconductor processing, telecommunications, scientific instrumentation, and industrial processes.

Ferrotec Holdings Corporation

Ferrotec is a diversified global technology company that provides advanced materials, components, systems, and manufacturing solutions. Originally founded on its core technologies—ferrofluid magnetic liquids and ferrofluidic sealing products—the company has since expanded its portfolio to meet evolving industry needs. The operates as a global enterprise with extensive intercompany collaboration across research, manufacturing, and marketing. Ferrotec serves the thermoelectric generators (TEG) market through its thermoelectric product line, offering compact, lightweight, and Freon-free solutions.

Kyocera Corporation

Kyocera Corporation operates through six reportable business segments: Industrial & Automotive Components Group, Semiconductor Components Group, Electronic Devices Group, Communications Group, Document Solutions Group, and Life & Environment Group. Within the Electronic Devices Group, the company supports the thermoelectric generators (TEG) market through its development of Peltier modules that utilize advanced thermoelectric technology. Kyocera leverages its expertise in advanced ceramics and semiconductor technologies to produce energy conversion device modules based on the Seebeck and Peltier effects.
Tables List
Table 1 Thermoelectric Generators Market: Role Of Companies In Ecosystem
Table 2 Thermoelectric Generators Market: Impact Of Porter’s Five Forces
Table 3 Thermoelectric Generators Market: Conferences And Events,
2025–2026
Table 4 Strategies Adopted By Key Market Players, 2022–2025
Table 5 Thermoelectric Generators Market: Degree Of Competition, 2024
Table 6 Thermoelectric Generators Market: Region Footprint
Table 7 Thermoelectric Generators Market: Type Footprint
Table 8 Thermoelectric Generators Market: Material Footprint
Table 9 Thermoelectric Generators Market: Industry Footprint
Table 10 Thermoelectric Generators Market: Detailed List Of
Key Startups/Smes
Table 11 Thermoelectric Generators Market: Competitive Benchmarking Of
Key Startups/Smes
Table 12 Thermoelectric Generators Market: Product Launches,
January 2022–may 2025
Table 13 Thermoelectric Generators Market: Deals, January 2022–may 2025
Table 14 Coherent Corp.: Company Overview
Table 15 Coherent Corp.: Product/Solutions/Services Offered
Table 16 Coherent Corp.: Product Launches
Table 17 Coherent Corp.: Deals
Table 18 Global Power Technologies: Company Overview
Table 19 Global Power Technologies: Product/Solutions/Services Offered
Table 20 Global Power Technologies: Product Launches
Table 21 Global Power Technologies: Deals
Table 22 Komatsu Ltd. (Kelk Ltd.): Company Overview
Table 23 Komatsu Ltd. (Kelk Ltd.): Product/Solutions/Services Offered
Table 24 Ferrotec Holdings Corporation: Company Overview
Table 25 Ferrotec Holdings Corporation: Product/Solutions/Services Offered
Table 26 Ferrotec Holdings Corporation: Deals
Table 27 Kyocera Corporation: Company Overview
Table 28 Kyocera Corporation: Product/Solutions/Services Offered
Table 29 Rmt Ltd.: Company Overview
Table 30 Rmt Ltd.: Product/Solutions/Services Offered
Table 31 Rif: Company Overview
Table 32 Rif: Product/Solutions/Services Offered
Table 33 Kryotherm: Company Overview
Table 34 Kryotherm: Product/Solutions/Services Offered
Table 35 Teledyne Technologies Incorporated: Company Overview
Table 36 Teledyne Technologies Incorporated:
Product/Solutions/Services Offered
Table 37 Teledyne Technologies Incorporated: Deals
Table 38 Bentek Systems: Company Overview
Table 39 Bentek Systems: Product/Solutions/Services Offered
Table 40 O-flexx Technologies Gmbh: Company Overview
Table 41 O-flexx Technologies Gmbh: Product/Solutions/Services Offered
Table 42 Everredtronics Ltd.: Company Overview
Table 43 Everredtronics Ltd.: Product/Solutions/Services Offered
Table 44 Perpetua Power By Grace Technologies: Company Overview
Table 45 Perpetua Power By Grace Technologies:
Product/Solutions/ Services Offered
Table 46 P&N Technology Co., Ltd.: Company Overview
Table 47 Brimrose Corporation: Company Overview
Table 48 Rgs Development Bv: Company Overview
Table 49 Pl Engineering Ltd.: Company Overview
Table 50 Micropelt: Company Overview
Table 51 Sheetak: Company Overview
Table 52 Hi-z Technology: Company Overview
Table 53 Align Sourcing Llc: Company Overview
Table 54 Tec Microsystems Gmbh: Company Overview
Table 55 Analog Technologies Inc.: Company Overview
Table 56 Wellen Technology Co., Ltd.: Company Overview
Table 57 Same Sky: Company Overview
Table 58 Research Assumptions
Table 59 Research Limitations
Table 60 Risk Analysis
Figures List
Figure 1 Single-stage Segment To Account For Largest Market Share
During Forecast Period
Figure 2 Bismuth Telluride Segment To Dominate Thermoelectric
Generators Market In 2030
Figure 3 Automotive & Transportation To Account For Largest Market
Share During Forecast Period
Figure 4 Asia Pacific To Record Highest Cagr During Forecast Period
Figure 5 Thermoelectric Generators Market: Drivers, Restraints, Opportunities, And Challenges
Figure 6 Carbon Dioxide Emissions, By Region, 2011–2021
Figure 7 Thermoelectric Generators Market: Drivers And Their Impact
Figure 8 Thermoelectric Generators Market: Restraints And Their Impact
Figure 9 Thermoelectric Generators Market: Opportunities And Their Impact
Figure 10 Thermoelectric Generators Market: Challenges And Their Impact
Figure 11 Thermoelectric Generators Market: Ai Impact Analysis
Figure 12 Thermoelectric Generators Market: Value Chain Analysis
Figure 13 Thermoelectric Generators Market: Ecosystem Analysis
Figure 14 Thermoelectric Generators Market: Stakeholders In Ecosystem
Figure 15 Trends/Disruptions Influencing Customer Business
Figure 16 Thermoelectric Generators Market: Porter’s Five Forces Analysis
Figure 17 Top Patent Applicants And Owners, 2014–2024
Figure 18 Thermoelectric Generators Market: Revenue Analysis, 2020–2024
Figure 19 Thermoelectric Generators Market Share Analysis, 2024
Figure 20 Company Valuation, 2024
Figure 21 Financial Metrics (Ev/Ebitda), 2024
Figure 22 Brand/Product Comparison
Figure 23 Thermoelectric Generators Market: Company Evaluation Matrix
(Key Players), 2024
Figure 24 Thermoelectric Generators Market: Company Footprint
Figure 25 Thermoelectric Generators Market: Company Evaluation Matrix (Startups/Smes), 2024
Figure 26 Coherent Corp.: Company Snapshot
Figure 27 Komatsu Ltd. (Kelk Ltd.): Company Snapshot
Figure 28 Kyocera Corporation: Company Snapshot
Figure 29 Teledyne Technologies Incorporated: Company Snapshot
Figure 30 Thermoelectric Generators Market: Research Design

Table of Contents

97 Pages
1 Introduction
1.1 Market Definition
1.2 Inclusions And Exclusions
1.3 Stakeholders
2 Executive Summary
3 Market Overview
3.1 Introduction
3.2 Market Dynamics
3.2.1 Drivers
3.2.1.1 High Demand For Waste Heat Recovery And Direct Power Generation
3.2.1.2 Need For Fuel Efficiency Amid Stringent Emission Control Norms
3.2.1.3 Durable And Maintenance-free Power Source
3.2.2 Restraints
3.2.2.1 Low Efficiency Of Thermoelectric Generators
3.2.2.2 High Initial Cost And Lack Of Skilled Personnel
3.2.3 Opportunities
3.2.3.1 Ongoing Research And Development To Enhance Performance
3.2.3.2 Increasing Adoption Of Thermoelectric Generators Across Various Sectors
3.2.4 Challenges
3.2.4.1 Availability Of Prominent Substitutes And Structural Complexities
3.3 Ai Impact On Thermoelectric Generators Market
3.4 Supply Chain Analysis
3.4.1 Research And Development
3.4.2 Manufacturers
3.4.3 Distribution/Resellers
3.4.4 Assemblers/Installers/Integrators
3.4.5 End Users
3.4.6 After-sales Services
3.5 Ecosystem Analysis
3.6 Trends/Disruptions Impacting Customer Business
3.7 Technology Analysis
3.7.1 Key Technologies
3.7.1.1 Automotive Exhaust Thermoelectric Generators
3.7.1.2 Wearable Thermoelectric Generators
3.7.1.3 Solar Thermoelectric Generators
3.7.1.4 Radioisotope Thermoelectric Generators
3.7.1.5 Advancements In Thermoelectric Materials
3.7.2 Complementary Technologies
3.7.2.1 Flexible Thermoelectric Materials
3.7.2.2 Self-healing Wearable Thermoelectric Devices
3.7.3 Adjacent Technologies
3.7.3.1 Miniature Thermoelectric Generators
3.8 Porter’s Five Forces Analysis
3.8.1 Threat Of New Entrants
3.8.2 Threat Of Substitutes
3.8.3 Bargaining Power Of Suppliers
3.8.4 Bargaining Power Of Buyers
3.8.5 Intensity Of Competitive Rivalry
3.9 Patent Analysis
3.9.1 List Of Major Patents
3.10 Key Conferences And Events, 2025–2026
4 Competitive Landscape
4.1 Overview
4.2 Key Player Strategies/Right To Win, 2022–2025
4.3 Revenue Analysis, 2021–2024
4.4 Market Share Analysis, 2024
4.5 Company Valuation And Financial Metrics
4.6 Brand/Product Comparison
4.7 Company Evaluation Matrix: Key Players, 2024
4.7.1 Stars
4.7.2 Emerging Leaders
4.7.3 Pervasive Players
4.7.4 Participants
4.7.5 Company Footprint: Key Players, 2024
4.7.5.1 Company Footprint
4.7.5.2 Region Footprint
4.7.5.3 Type Footprint
4.7.5.4 Material Footprint
4.7.5.5 Industry Footprint
4.8 Company Evaluation Matrix: Startups/Smes, 2024
4.8.1 Progressive Companies
4.8.2 Responsive Companies
4.8.3 Dynamic Companies
4.8.4 Starting Blocks
4.8.5 Competitive Benchmarking, Startups/Smes, 2024
4.8.5.1 Detailed List Of Key Startups/Smes
4.8.5.2 Competitive Benchmarking Of Key Startups/Smes
4.9 Competitive Scenario
4.9.1 Product Launches
4.9.2 Deals
5 Company Profiles
5.1 Key Players
5.1.1 Coherent Corp.
5.1.1.1 Business Overview
5.1.1.2 Products/Solutions/Services Offered
5.1.1.3 Recent Developments
5.1.1.3.1 Product Launches
5.1.1.3.2 Deals
5.1.1.4 Mnm View
5.1.1.4.1 Key Strengths
5.1.1.4.2 Strategic Choices
5.1.1.4.3 Weaknesses And Competitive Threats
5.1.2 Global Power Technologies
5.1.2.1 Business Overview
5.1.2.2 Products/Solutions/Services Offered
5.1.2.3 Recent Developments
5.1.2.3.1 Product Launches
5.1.2.3.2 Deals
5.1.2.4 Mnm View
5.1.2.4.1 Key Strengths
5.1.2.4.2 Strategic Choices
5.1.2.4.3 Weaknesses And Competitive Threats
5.1.3 Komatsu Ltd. (Kelk Ltd.)
5.1.3.1 Business Overview
5.1.3.2 Products/Solutions/Services Offered
5.1.3.3 Mnm View
5.1.3.3.1 Key Strengths
5.1.3.3.2 Strategic Choices
5.1.3.3.3 Weaknesses And Competitive Threats
5.1.4 Ferrotec Holdings Corporation
5.1.4.1 Business Overview
5.1.4.2 Products/Solutions/Services Offered
5.1.4.3 Recent Developments
5.1.4.3.1 Deals
5.1.4.4 Mnm View
5.1.4.4.1 Key Strengths
5.1.4.4.2 Strategic Choices
5.1.4.4.3 Weaknesses And Competitive Threats
5.1.5 Kyocera Corporation
5.1.5.1 Business Overview
5.1.5.2 Products/Solutions/Services Offered
5.1.5.3 Mnm View
5.1.5.3.1 Key Strengths
5.1.5.3.2 Strategic Choices
5.1.5.3.3 Weaknesses And Competitive Threats
5.1.6 Rmt Ltd.
5.1.6.1 Business Overview
5.1.6.2 Products/Solutions/Services Offered
5.1.7 Rif
5.1.7.1 Business Overview
5.1.7.2 Products/Solutions/Services Offered
5.1.8 Kryotherm
5.1.8.1 Business Overview
5.1.8.2 Products/Solutions/Services Offered
5.1.9 Teledyne Technologies Incorporated
5.1.9.1 Business Overview
5.1.9.2 Products/Solutions/Services Offered
5.1.9.3 Recent Developments
5.1.10 Bentek Systems
5.1.10.1 Business Overview
5.1.10.2 Products/Solutions/Services Offered
5.1.11 O-flexx Technologies Gmbh
5.1.11.1 Business Overview
5.1.11.2 Products/Solutions/Services Offered
5.1.12 Everredtronics Ltd.
5.1.12.1 Business Overview
5.1.12.2 Products/Solutions/Services Offered
5.1.13 Perpetua Power By Grace Technologies
5.1.13.1 Business Overview
5.1.13.2 Products/Solutions/Services Offered
5.2 Other Players
5.2.1 P&N Technology Co., Ltd.
5.2.2 Brimrose Corporation
5.2.3 Rgs Development Bv
5.2.4 Pl Engineering Ltd.
5.2.5 Micropelt
5.2.6 Sheetak
5.2.7 Hi-z Technology
5.2.8 Align Sourcing Llc
5.2.9 Tec Microsystems Gmbh
5.2.10 Analog Technologies Inc.
5.2.11 Wellen Technology Co., Ltd.
5.2.12 Same Sky
6 Appendix
6.1 Research Methodology
6.1.1 Research Data
6.1.1.1 Secondary Data
6.1.1.2 Primary Data
6.1.2 Research Assumptions
6.1.3 Research Limitations
6.1.4 Risk Analysis
6.2 Company Evaluation Matrix: Methodology
6.3 Sauthor Details

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