Automotive Energy Recovery Systems Market

Global Automotive Energy Recovery Systems Market (2023 to 2028)

The global automotive energy recovery systems market is expected to be valued at USD 29.60 billion in 2023 and is anticipated to reach a valuation of USD 46.61 billion by 2028 and is predicted to register a CAGR of 7.40% during the forecast from 2023 to 2028.

In a vehicle, for example, to power the engine or batteries and to improve the efficiency of the engine by recycling the exhaust. The use of dissipated energy improves the overall performance of a vehicle and reduces greenhouse gas emissions. Most electric vehicles are equipped with regenerative braking, while turbochargers and exhaust recirculation have greater penetration in diesel and gasoline-powered vehicles.

MARKET DRIVERS:

Globally, over the last 5 to 10 years, fuel prices have risen by about 4% to 9% per year. OEMs promote their products with an effective fuel efficiency ratio. Overall, customer preferences are changing, and these days, vehicles prefer more efficient and fuel-efficient vehicles. As a result, there is a growing demand for automotive energy recovery systems. Worldwide, governments of many countries, such as the United States and Canada have put in place strict government regulations on emissions, which is also fueling the demand for automotive energy recovery systems.

Motor vehicle energy recovery systems are gaining ground because of the operational benefits they provide to the vehicle and the customer. The Asia-Pacific region represents the market for more lucrative energy recovery systems for automobiles due to strict regulations on vehicle emissions and the increasing number of electric vehicles in China, Japan, and South Korea. Increased public investment in EVSE infrastructure and electric utility vehicles, such as buses and trucks, has also boosted market growth.

MARKET RESTRAINTS:

Emerging economies are currently poorly aware of automotive energy recovery systems, which is holding back market growth. The high cost associated with automotive energy recovery systems also holds back the growth of the global automotive energy recovery market.

REPORT COVERAGE:

This research report on the global automotive bearing market has been segmented & sub-segmented based on the product type, type, and region.  

Global Automotive Energy Recovery Systems Market – By Product Type:

• Regenerative Braking System
• Electric
• Hydraulic
• Others
• Turbocharger
• Twin Turbocharger
• Wastegate Turbocharger
• Variable Geometry Turbocharger
• Exhaust Gas Recirculation (EGR)

Global Automotive Energy Recovery Systems Market – By Vehicle Type:

• Two-Wheelers
• Passenger Cars
• Commercial Vehicles

Global Automotive Energy Recovery Systems Market – By Region:

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

The global automotive energy recovery systems market is expected to record a single-digit compound annual growth rate (CAGR) for the forecast period. In terms of market revenues, the motor vehicle energy recovery market in Europe and North America is expected to post a significant CAGR over the forecast period. Slow but stable economic growth, the growing automotive sector, tight government regulations on emissions, changing consumer preferences, relatively high knowledge of automotive energy recovery systems, and innovative and advanced technologies are all part of the Factors driving the growth of the energy recovery market in motor vehicles in North America and Europe. Both regions are expected to experience a single-digit growth rate over the forecast period.

KEY MARKET PLAYERS:

Continental AG (Germany), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Tesla Motors, Mercedes-Benz, Ford, BMW, and Toyota. Some of the major key players involved in the global automotive energy recovery systems market.