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Automotive Thermoelectric Generator Market Size, Share & Industry Analysis, By Type (Cooling Plates, Thermoelectric Module, Heat Exchangers, Others), By Application Type (Passenger Cars, Commercial Vehicles) and Regional Forecast, 2024-2032

Region : Global | Report ID: FBI103591 | Status : Ongoing



Automotive thermoelectric generator is one of the vital device in the vehicle that converts the wasted heat in an internal combustion engine into electrical energy. This thermoelectric generator comprises of other major components such as thermoelectric materials, cold-side heat exchanger, hot-side heat exchanger, and compression assembly system. This system is capable of converting the heat wasted by an engine during internal combustion into electricity that is used to power the electrical auxiliaries and systems of the vehicle such as infotainment system, air conditioning system, and lightings. By retrieving this lost energy, the automotive thermoelectric generators reduce the fuel consumed by the generator load on the engine. Additionally, the increasing demand for fuel efficient vehicles as well as the stringent emission norms imposed by the governments on vehicles have boosted the demand for automotive thermoelectric generator. Also, the automotive manufacturers are investing a large percentage on innovating and developing advanced systems which is expected to create high opportunities for the automotive thermoelectric generator. For instance, key automotive companies such as Ford Motor Company, General Motors, Volkswagen Group, BMW AG, Mercedes Benz, and Audi among others, have invested high amount of money in research and development to explore the potential of automotive thermoelectric generators.

Market Segmentation:

Globally, the automotive thermoelectric generator market is segmented by type, by application type, and by geographic coverage. Based on type, the market is further segmented into cooling plates, thermoelectric module, and heat exchangers, among others. The thermoelectric module holds the significant share in the global market owing to the high demand for fuel efficiency in vehicles. A thermoelectric module is used for both cooling and heating purposes. It is also used to generate power where different temperatures are applied across the module to produce a current. These devices are mounted directly on the surface top and placed over the vacant surface of the heat exchanger. However, the cold-side temperature of the thermoelectric modules are sustained by the coolant system. The Increasing demand for fuel efficient vehicles is thus creating high demand for thermoelectric modules in automotive generators. The heat exchangers in thermoelectric generators also shows an exponential growth in the global market. The heat exchanger is a vital component in the thermoelectric generator, as it regulates the overall performance of the heat exchanger. Since its key function is to absorb heat from the flowing exhaust gas, the optimal size and design are essential to provide maximum power output. Aluminium, stainless steel, and brass are the materials that are used to make heat exchangers which are used in both gasoline and diesel engines. The application type is further bifurcated into passenger cars and commercial vehicles. The passenger cars segment accounts for the major revenue share in the global market and is expected to maintain its dominance over the forecast period. With the automotive manufacturers and government bodies working on enhancing the fuel efficiency of vehicles, several measures have been taken to curb the increasing rate of global warming thus resulting in a new emission standard by the European Union which prescribes the reduction of CO2 emission for new and upcoming passenger cars. Since the use of automotive thermoelectric generators in passenger cars is likely to reclaim and reutilise waste heat to charge the on-board batteries, which are used to power automotive auxiliaries such as air-conditioning systems, infotainment systems, and lightings. Several car manufacturers such as Nissan, Toyota, Ford, BMW, Honda, and General Motors are now focusing on the development of automotive thermoelectric generators for passenger cars, which is expected to increase their demand in the passenger car sector.

Key Players:

Major players operating in the global automotive thermoelectric generator market include YAMAHA Motor Pvt. Ltd., Valeo, Faurecia, SinaSoft Co., European Thermodynamics Ltd., II-VI Marlow, Tenneco Inc., GENTHERM, Thermonamic Electronics (Jiangxi) Corp., Ltd., and Laird among others.

Key Insights

  • New Advancements in automotive thermoelectric generator

  • Number of Products, Key Countries, 2019

  • New Product Launches, Key Players

Regional Analysis:

Geographically, the automotive thermoelectric generator market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the largest share in the global market and is expected to maintain its leading position in the global market. Increasing demand for automotive thermoelectric generators from the automotive industry to improve fuel efficiency in vehicles as well as expanding industrialization in the developing economies such as China, and India are anticipated to boost the thermoelectric generator market in this region. Moreover, the continuous focus of the automotive manufacturers to develop thermoelectric generators an also the several research activities going on in various parts of the region are the foremost factors that are expected to boost the demand for thermoelectric generator in the region. Europe is projected to be the fastest growing region in the global automotive thermoelectric generator market. The rapid growth of the automotive industry, increasing stringency in government regulations to decrease the carbon dioxide gas emission, as well as the increasing investment in research and development in countries such as U.K, Germany, and France is expected to propel the automotive thermoelectric generator market in this region.

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By Type

  • Cooling Plates

  • Thermoelectric Module

  • Heat Exchangers

  • Others

By Application Type

  • Passenger Cars

  • Commercial Vehicles

By Geography

  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World

  • Ongoing
  • 2023
  • 2019-2022

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