Thermoelectric Materials Market Revenue Poised for Significant Growth During the Forecast Period of 2020-2027
The Global Thermoelectric Materials Market Report offers extensive knowledge and information about the Thermoelectric Materials market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The report is formulated with the updated and latest information of the global Thermoelectric Materials market further validated and verified by the industry experts and professionals. The Global Thermoelectric Materials Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Thermoelectric Materials market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
The global thermoelectric materials market is projected to be worth USD 96.2 Million by 2027, according to a current analysis by Emergen Research. The thermoelectric materials market is observing high demand attributed to the increasing demand for automotive fuel efficiency. Automotive exhaust contributes significantly to global greenhouse gas emissions (GHG), with a typical passenger vehicle accounting for the emission of around 4.6 tons of CO2 annually. Also, it has been estimated that the total number of light-duty vehicles (LCVs) plying on the roads would surpass 2 billion by the year 2050 and, in turn, would consume a substantial amount of global oil production. Automotive thermoelectric generator technology encompasses vehicular exhaust heat conversion into electric energy that may be utilized for various electrical systems of the automobile, thereby improving fuel efficiency and reducing GHG emission. The growing demand for thermoelectric generator, in turn, would drive the demand for thermoelectric materials.
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