The Global Automotive Energy Recovery Systems Market was at USD 7.121 billion in 2021 and is predicted to register a CAGR of xx during the conjecture period of 2022 - 2027.
Market Overview:
The vehicle changes over 25-30% of its fuel vitality to move the vehicle, and the remainder of the vitality is squandered through the radiator and motor exhaust. To change the heat extricated from hot exhaust gases into electrical force, an exhaust energy recovery framework is utilized. Vehicles create vitality while executing different functions. The vitality produced by the vehicles can be utilized to give extra capacity to the motor and other vehicle parts.
Energy recovery frameworks help with changing a generous measure of waste vitality and storing and reusing it in another valuable structure for driving vehicle functions or giving additional lift to the motor when required. For instance, a regenerative braking mechanism changes a portion of its motor energy into charging the battery of electric vehicles. The main aspects promoting the call for Energy Recovery Systems in automobiles are increasing environment-friendly frameworks, increasing need for improved performance in vehicles, and strict fuel economy norms in several nations.
Market Drivers:
The global automotive energy recovery system market is driven by stringent vehicular outflow rules and guidelines, an increment in the pattern of motor downsizing, and stringent mileage gauges. Also, ascend in various electrical vehicles and EVSE framework and improved vehicle performance fuel the market development. Moreover, the rise in total expense & weight of vehicles and high repair & maintenance costs limit the growth of the market. Independent of these difficulties, increment in worries about the environment and progression in innovation, for example, presenting waste vitality recuperation framework in bikes, are supposed to give different chances to new items and lift the market development.
Market Restraints:
In any case, high item cost is a main consideration limiting the development of the global vehicle energy recovery system market. Likewise, the accessibility of low-cost false frameworks is another factor estimated to challenge the development of the automobile energy recovery system market to a certain degree.
REPORT METRIC |
DETAILS |
Market Size Available |
2022 – 2028 |
Base Year |
2022 |
Forecast Period |
2023 - 2028 |
CAGR |
xx% |
Segments Covered |
By Product Type, Vehicle Type, and Region. |
Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
BMW AG, Robert Bosch GmbH, Continental AG, Tenneco, GenTherm, Visteon Corporation, Daimler, Volkswagen, General Motors Company, Denso Corporation, Delphi Automotive PLC, Nippon Seiki Co., Ltd, and Others. |
Market Segmentation:
The regenerative braking system (RBS) market for passenger vehicles is developing at an outstanding rate in contrast with others, attributable to an increment in the number of electric vehicles in nations, for example, China, the U.S., and Japan.
Passenger vehicle drives the vehicle energy recovery system market because of the increase in demand for such systems in these automobiles. China is at present the greatest market of electric vehicles, enrolling 210,000 new electric vehicles in the review period, trailed by the U.S.
Market Regional Analysis:
The Global Automotive Energy Recovery System Market Report includes the segmentation of regions:
In Europe, the vehicle energy recovery system market is developing at a higher rate, with a high penetration rate. The market in Europe is anticipated to enrol the quickest development regarding income, attributable to expanding implementation for items in commercial vehicles in rising economies in this area. The utilization of these frameworks is additionally developing fundamentally in the Asia-Pacific and RoW areas because of the expansion in customer buying power and their inclination for low-outflow vehicles. Japan, the U.S., France, and Brazil are anticipated to be the biggest markets for the vehicle energy recuperation frameworks. Developing nations, for example, India, the Netherlands, and Mexico are anticipated to record a high development rate from 2020 to 2025.
Market Key Players:
The key players operating in the automotive energy recovery system market are:
The Coronavirus pandemic is happening around the world, affecting operations in several end-user sectors including automobiles. The automotive industry has witnessed one of its worst days with the sudden outbreak of this virus. The slump in this business had a direct impact on its associated industries like the energy recovery systems. The strict lockdown conditions implemented by the governments to avoid the transmission of this virus have resulted in the temporary closure of the production units and sales channels for almost six months. This has resulted in declining revenue and sales in the energy recovery systems market. Although the lockdown has been lifted in all the countries, it is estimated that it will some time to bring back consumer confidence and cover incurred losses during the COVID-19 period.
Market Key Developments:
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