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Rising pollution and limited availability of fossil fuels has expended the need for electric vehicles. Companies are coming up with fully electric vehicles and hybrid vehicles in order to maximize the reach of such vehicles in the population. The World Energy Outlook forecasts that in the next 25 years, energy consumption is expected to increase by almost 55%, developing countries being the major consumer. 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. 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. 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 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 country, Automotive Energy Recovery Systems market is segmented into US, Canada, Mexico and Rest of North America. USA remained the dominant region in the global Automotive Energy Recovery Systems market in 2015. Canada 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.