Global Thermoelectric Generators Market is projected to grow from $460 million in 2019 to $741 million by 2025, at a CAGR of 8.3% during the forecast period. Factors such as rapid commercialization of thermoelectric generators in the automotive industry, and increasing demand for miniaturized TEGs. Along with the rising adoption of decarbonization technologies for greenhouse gas emissions is expected to be the primary factor driving the thermoelectric generators market.

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The bismuth telluride material segment is projected to grow at the higher CAGR during the forecast period

By material, the thermoelectric generators market has been segmented into bismuth telluride, lead telluride and others. Among these, the bismuth telluride segment is projected to grow at the highest CAGR during the forecast period. Due to the comparatively high efficiency of bismuth telluride materials, the demand for this segment is rising.

The Low Temperature (