22:23 | 11.08.2017
Thermoelectric Generator Market – Opportunity Analysis and Top Trends by Technavio

Technavio’s latest market research report on the global
thermoelectric generator market provides an analysis of the most
important trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

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Technavio has published a new report on the global thermoelectric generator market from 2017-2021. (Graphic: Business Wire)
The global thermoelectric generator market is expected to grow at a CAGR
of close to 13% during the forecast period. This double-digit growth is
expected mainly due to the increasing environmental pollution and the
need for electric efficiency.
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The top three emerging market trends driving the global thermoelectric
generator market according to Technavio research analysts are:

CO2 emission reduction

Automation of industries

Automation in automobiles
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sections of the report including the market size and forecast, drivers,
challenges, trends, and more.CO2 emission reduction
Governments across different countries are deploying policies such as
energy performance labels, general awareness programs, energy
performance standards to ensure environmental safety. The efficient use
of energy is crucial to achieving sustainable society by minimizing
carbon emissions and reducing electricity consumption in transportation,
household appliances, electric power, and industrial equipment. This can
be achieved with the use of TEG generators.

According to Sunil Kumar Singh, a lead analyst at Technavio for semiconductor
equipment research, “Thermoelectric generators can play a vital
role in CO2 emission reduction as the smoke emitted by industrial
processes, automobiles, and electricity production plants is reconverted
into electrical energy. Therefore, the smoke does not pollute the air,
ultimately resulting in a cleaner environment.”
Automation of industries
Automation of industries is gaining momentum as computers and machines
are being adopted for effective and efficient control systems.
Industries are forced to adopt automation to maintain their
competitiveness in the market. Automation enables industries to increase
productivity, lower the cost of operations, and ensure the quality of
the product.

Automation will lead to an increase in demand for electricity which can
be fulfilled by TEGs, as they can ensure a constant source of power.
This will also result in reduced environmental pollution. Governments
are also expected to encourage waste heat recovery systems in industries
to reduce the pollution from industries.
Automation in automobiles
Automobiles are undergoing a massive digital makeover. Semiconductor
content plays a key role in the automation of automobiles, especially in
networked communication and driving automation. Next-generation
automobiles are expected to include speech recognition and video and
image compatibilities to provide optimal driving experience. Connected
cars in the future will have communication systems ranging from internal
systems like advanced driver assistance electronics, transmission, and
front panel to roadside infrastructure, other cars, and emergency
services. Leading manufacturers such as Toyota, Audi, and Mercedes have
invested considerable resources in the R&D of automobile automation. In
automation, semiconductor content is required to constantly provide
accurate information for the inbuilt AI to drive optimally.
“The ongoing technological advances, along with vehicle connectivity,
self-driving cars, and interactive safety systems, will require
additional power or electricity requirements to operate. TEGs can play a
vital role in providing an additional source of power, which will
increase the fuel efficiency of automobiles,” says Sunil.Browse Related Reports:Global
Microwave Devices Market 2017-2021Global
Fiber Laser Market 2017-2021Global
Radio Frequency (RF) Signal Generator Market 2017-2021About TechnavioTechnavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
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of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

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