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The global Automotive Energy Recovery Systems market size is expected to attain a market size of $69.3 billion by 2022, growing at a CAGR of 30.4% during the forecast period.
Alternative automobile technologies have grown in importance due to pollution caused by automobile emission, and the need for alternative solution to substitute depleting oil reserves, a major energy source for vehicles. Automotive energy recovery system utilizes the otherwise wasted energy and provides power to the engine or batteries and to enhance engine efficiency by recycling exhaust gasses. The dissipated energy improves the overall performance of the vehicle and minimizes greenhouse gas emission. Regenerative braking system is widely used in most of the vehicles, and turbocharger and exhaust gas recirculation have greater penetration in diesel & gasoline-powered vehicles.Stringent vehicular emission rules & regulations, growing need for compact engines, and stringent fuel economy standards are some of the major factors that would fuel the growth of the automotive energy recovery system market, globally. Rise in the number of electrical vehicles & EVSE infrastructure and improved vehicle performance would add to the market growth significantly. The rising cost, increasing weight of the vehicles, and maintenance cost are some of the major factors that would hinder the market growth. Despite challenges, growing environmental concerns and technological advancements such as introducing waste energy recovery system in two-wheelers, would offer enormous opportunities for the market participants.
The global automotive energy recovery system market is segmented based on product type, vehicle type, and geography. On the basis of product type, the market is segmented 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 segmented into two-wheeler, passenger cars, and commercial vehicles.Based on region, Automotive Energy Recovery Systems market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. Asia-Pacific remained the dominant region in the global Automotive Energy Recovery Systems market in 2015. North America would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Automotive Energy Recovery Systems market. Key companies profiled in the report include Mitsubishi Heavy Industries. Ltd., Robert Bosch GmbH, Autoliv Inc., Continental AG, Honeywell International, Inc., Cummins Inc., Tenneco Inc. and Faurecia.