Thermoelectric Generators Market

Thermoelectric Generators Companies - Coherent Corp. (US), and Gentherm Inc. (US) are the Key Players

The thermoelectric generators is projected to grow from USD 761 Million in 2022 to USD 1,233 Million by 2027, at a CAGR of 10.1% from 2022 to 2027.

Thermoelectric generators (TEG) are used for power generation across automotive, aerospace & defense, industrial, consumer electronics, healthcare, oil & gas mining, and telecommunications industries. Though initially used only as heating or cooling devices, recent research has led to them being used as energy harvesting devices. Since the last six decades, TEGs have been utilized in the form of radioisotope thermoelectric generators for space research and exploration purposes. The adoption of these generators has increased in the domestic and oil & energy sector, owing to their heat recycling and self-powering properties. Thermoelectric generators are used for waste heat recovery, energy harvesting, direct power generation, and co-generation applications.

To know about the assumptions considered for the study download the pdf brochure

Major Thermoelectric Generators Companies Include:

  • Coherent Corp. (US)
  • Gentherm Inc. (US)
  • Ferrotec Holdings Corporation (Japan)
  • Laird Thermal Systems, Inc. (UK)
  • Komatsu Ltd. (Japan)

These key players have adopted various growth strategies such as new product launches, collaborations & expansions, contracts, partnerships, and agreements, adopted by the leading market players in the thermoelectric generators.


Coherent Corp. (Formerly known as II-VI Incorporated). The company develops and manufactures thermoelectric modules for aerospace, defense, medical, industrial, automotive, power generation, and telecommunications markets. The company operates through photonics, laser solutions, and performance product segments. Its thermoelectric products are used in temperature stabilization and night vision devices. Coherent Corp. has sales and marketing units in Germany, the UK, China, Italy, and Hong Kong and is currently in its 50th year of establishment. It is investing heavily in R&D activities. In April 2021, it expanded its Technology and R&D base by inaugurating a Technology and R&D Center in Shanghai. Coherent Corp., a worldwide leader in engineered materials and optoelectronic components, is a vertically integrated manufacturing company that creates innovative products for varied applications in communications, materials processing, aerospace and defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets.


Gentherm Inc. is the leading manufacturer of thermoelectric power generators used in remote power applications. The company operates through two business segments, namely, automotive and industrial. The automotive segment manufactures automotive seat comfort systems, specialized automotive cable systems, and other automotive & non-automotive thermal convenience products. Gentherm Inc.¡¯s automotive products can be noticed on the vehicles of nearly all key automotive manufacturers operating in North American and European regions and some major automotive manufacturers in Asia. The industrial segment emphasizes the development of thermoelectric generators, rectifiers, primegen systems, solar hybrid systems, and batteries & accessories. Gentherm Inc. manufactures TEG-related products in its remote power generation systems business, called Gentherm Inc.


Ferrotec Holdings Corporation is a leading provider of thermoelectric modules and thermal management subsystems and assemblies for the automotive, telecom, and biomedical industries. The company manufactures thermoelectric modules for power generation and waste heat recovery applications. Ferrotec Holdings Corporation has a presence in North America, Europe, Japan, China, and Singapore. The company manufactures advanced materials, components, and assembly solutions. It also offers ferrofluid solutions such as magnetic liquid and superparamagnetic nanoparticle products. The company stands out with its industry-standard sizes of thermoelectric modules and thermal management solutions.


Laird Thermal Systems, Inc. is involved in designing, manufacturing, and marketing electronics and technology products. The company focuses on providing components and solutions that protect electronic devices from electromagnetic interference and heat and enable connectivity through wireless applications and antennae systems. The company has developed the eTEG Series, thermoelectric power generators for wireless sensors, LED lighting, and battery charging applications. It was bought by Advent International in July 2018, after which it was called Laird Thermal System.


Komatsu Ltd. is engaged in the manufacturing of construction, mining, forestry, and military & industrial equipment. It is the world¡¯s leading supplier of precise thermal control systems based on thermoelectric modules. The company offers high-performance, multi-purpose, and micro-generation modules for sensors. Internationally, the Komatsu Ltd. Group includes Komatsu Ltd. and 258 other companies (consisting of 215 consolidated subsidiaries and 42 companies accounted by the equity method). Through the company¡¯s basic research on semiconductors (thermo modules), it could establish high-precision control of temperature at a margin of error range equating to 0.01¡É. This technology facilitates the delicate handling of parts sensitive to temperature and cooling, permitting the company to support semiconductor manufacturers internationally.

Related Reports:

Thermoelectric Generators Market by Application (Waste Heat Recovery, Energy Harvesting, Direct Power Generation, Co-Generation), Temperature (<80¡ÆC, 80-500¡ÆC, >500¡ÆC) Wattage, Type, Material, Vertical, Component, Region - Global Forecast to 2027

See Also:

Thermoelectric Modules Companies

Mr. Aashish Mehra
MarketsandMarkets¢â INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Thermoelectric Generators Market Size,  Share & Growth Report
Report Code
AS 3743
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status