Global Thermoelectric Materials Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Material;

Bismuth Telluride, , Lead Telluride and Others.

By Source;

Waste Heat Recovery, Energy Harvesting, Direct Power Generation, Co-Generation and Others.

By Temperature;

Low Temperature (80°C), Medium Temperature (80°- 500°C), High Temperature (500°C) and Others.

By Wattage;

Low Power, Medium Power, High Power and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn334609464 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Thermoelectric Materials Market (USD Million), 2021 - 2031

In the year 2024, the Global Thermoelectric Materials Market was valued at USD 83.88 million. The size of this market is expected to increase to USD 143.76 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.0%.

The global thermoelectric materials market is centered around materials capable of converting temperature differences directly into electrical energy through the Seebeck effect. These materials are crucial for applications in power generation and cooling systems. The market has been expanding due to the growing emphasis on energy efficiency and the need for sustainable energy solutions.

Key drivers of market growth include advancements in material science, which have led to the development of more efficient thermoelectric materials. Innovations such as high-performance materials and improved manufacturing processes are making thermoelectric technologies more viable for various applications. Additionally, the increasing adoption of thermoelectric materials in automotive and aerospace industries, where they are used to recover waste heat, is contributing to the market's expansion.

The market also benefits from the rising interest in waste heat recovery systems and the growing demand for energy-efficient technologies. Governments and regulatory bodies are pushing for stricter regulations on energy consumption, which further drives the need for effective thermoelectric solutions.

Geographically, the market is experiencing significant growth in regions like North America and Europe, where there is a strong focus on research and development as well as the implementation of advanced energy technologies. Meanwhile, the Asia-Pacific region is emerging as a key player due to rapid industrialization and increasing energy demands.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Material
    2. Market Snapshot, By Source
    3. Market Snapshot, By Temperature
    4. Market Snapshot, By Wattage
    5. Market Snapshot, By Region
  4. Global Thermoelectric Materials Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological advancements
        2. Efficient materials
        3. Waste heat recovery
      2. Restraints
        1. High material costs
        2. Limited material efficiency
        3. Complex manufacturing processes
      3. Opportunities
        1. Emerging markets expansion
        2. Advancements in material science
        3. Growing demand for renewable energy
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry

  5. Market Segmentation
    1. Global Thermoelectric Materials Market, By Material, 2021 - 2031 (USD Million)
      1. Bismuth Telluride,
      2. Lead Telluride
      3. Others
    2. Global Thermoelectric Materials Market, By Source, 2021 - 2031 (USD Million)
      1. Waste Heat Recovery
      2. Energy Harvesting
      3. Direct Power Generation
      4. Co-Generation
      5. Others
    3. Global Thermoelectric Materials Market, By Temperature, 2021 - 2031 (USD Million)
      1. Low Temperature (80°C)
      2. Medium Temperature (80°- 500°C)
      3. High Temperature (500°C)
      4. Others
    4. Global Thermoelectric Materials Market, By Wattage, 2021 - 2031 (USD Million)
      1. Low Power
      2. Medium Power
      3. High Power
      4. Others
    5. Global Thermoelectric Materials Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia/New Zealand
        5. South Korea
        6. ASEAN
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Transphorm Inc
      2. greenTEG AG
      3. ThermoAura, Inc.,
      4. Alphabet Energy
      5. Tellurex Corporation
      6. Quick-Ohm Kpper & Co. GmbH
      7. Evident Thermoelectrics
      8. Tegma
      9. SHEETAK
      10. Phononic
      11. Ferrotec (USA) Corporation
      12. Thermonamic Electronics(Jiangxi) Corp., Ltd.,
      13. TEGEOS
  7. Analyst Views
  8. Future Outlook of the Market