The overall Thermoelectric Generator Market is projected to grow from USD 406 million in 2021 to USD 635 million by 2026, at a CAGR of 9.4% from 2021 to 2026. North America is estimated to account for the largest share of the thermoelectric generator market from 2021 to 2026. North America is estimated to account for the largest share of the thermoelectric generator market from 2021 to 2026. Thermoelectric generators and thermoelectric materials that were previously utilized primarily in niche applications are now becoming more popular with the introduction of wider automotive applications and the efforts to exploit waste-heat-recovery technologies. Thermoelectric generators are not only highly reliable and durable, but they are also environmentally friendly because they do not include chemical products. These reasons are boosting their demand further.

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Key Market Players

Key players operating in the TEG market include Gentherm, Inc (US), II-VI Incorporated (US), Ferrotec Corporation (Japan), Laird Thermal Systems (UK), Komatsu Ltd. (Japan), and TEC Microsystems (Germany).

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