The utilization of dissipated energy improves the overall performance of a vehicle and reduces the emission of greenhouse gasses.
PORTLAND, OR, UNITED STATES, October 20, 2021 /EINPresswire.com/ — Automotive Energy Recovery System Market Outlook: 2022
Global Automotive Energy Recovery System Market was valued at $14 billion in 2015, and is expected to reach $71 billion by 2022, supported by a CAGR of 27.9% during the forecast period 2016 – 2022. Automotive energy recovery system utilizes dissipated energy to perform various functions in a vehicle such as to provide power to engine or batteries and to enhance engine efficiency by recycling exhausted gasses. The utilization of dissipated energy improves the overall performance of a vehicle and reduces the emission of greenhouse gasses. Most of the electric vehicles are equipped with the regenerative braking system, whereas turbocharger and exhaust gas recirculation have greater penetration in diesel- & gasoline-powered vehicles.
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Major Market Players:
• ROBERT BOSCH GMBH
• CONTINENTAL AG
• AUTOLIV INC
• HYUNDAI MOBIS
• HONEYWELL INTERNATIONAL INC
• MITSUBISHI HEAVY INDUSTRIES, LTD
• CUMMINS INC
• TENNECO INC
• BORGWARNER INC
Automotive Energy Recovery System Market Segmentation
The automotive energy recovery system market segmentation is based on product type, vehicle type, and geography. On the basis of product type, the market is divided into regenerative braking system (electric, hydraulic, and others [flywheel & spring]), turbocharger (twin turbocharger, wastegate turbocharger, and variable geometry turbocharger), and exhaust gas recirculation (EGR). By vehicle type, the market is categorized into two-wheeler, passenger cars, and commercial vehicles. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Automotive Energy Recovery System Market Dynamics
The global automotive energy recovery system market is driven by stringent vehicular emission rules & regulations, increase in trend of engine downsizing, and stringent fuel economy standards. In addition, rise in a number of electrical vehicles & EVSE infrastructure and improved vehicle performance fuel the market growth. However, increase in overall cost & weight of vehicles and high repair & maintenance cost restrain the growth of the market. Irrespective of these challenges, increase in concerns about environment and advancement in technology, such as introducing waste energy recovery system in two-wheelers, are expected to provide various opportunities for new products and boost the market growth.
Automotive Energy Recovery System Market Key Benefits
• The report includes an extensive analysis of the factors that drive as well as restrain the global energy recovery system market.
• The market projections from 2014 to 2022 are included along with the affecting factors.
• The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the situations that prevail in the market.
• An in-depth analysis of key segments demonstrates stakeholders with various energy recovery system and different vehicle type.
• Competitive intelligence highlights the business practices followed by leading market players across various geographies.
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Source: EIN Presswire