Demand for automotive energy recovery systems was anticipated to be valued at US$ 69 Million in 2021, and is likely to reach US$ 71 Million by 2022-end. Furthermore, revenue prospects are expected to flourish at a 9% CAGR until 2032, expected to surpass US$ 168 Million.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 69 Million |
| Anticipated Market Value (2022) | US$ 71 Million |
| Projected Forecast Value (2032) | US$ 168.1 Million |
| Growth Rate (2022 to 2032) | 9% CAGR |
A kinetic energy recovery system (KERS) is an automotive system for improving a moving vehicle's kinetic energy under braking. The recovered energy is stored in a reservoir (for example a flywheel or high voltage batteries) for future use under acceleration.
Automotive energy recovery systems increase the energy optimization of the vehicle. An automotive energy recovery system uses dissipated energy to perform several functions in a vehicle such as delivering power to engine or batteries and improving engine efficiency by recycling exhausted gasses.
The application of dissipated energy recovers the overall performance of a vehicle and decreases the emission of greenhouse gasses. Most of the electric vehicles are equipped with a regenerative braking system, while turbocharger and exhaust gas recirculation have greater penetration in diesel- & gasoline-powered vehicles.
The escalated fuel prices in the past half-decade have created concerns for both users and manufacturers. Thus, Original Equipment Manufacturers of automotive are promoting their products by boasting the fuel-efficient quotient.
Globally, the preference of the customers is changing, these days fuel-efficient and improved performance vehicles are preferred by the customers. Due to this, there is a growing demand for the automotive energy recovery system.
Overall, developed countries like U.S.A & Canada have implemented stringent government regulations, and this is also fueling the demand for Automotive Energy Recovery Systems.
The high production cost is a major factor restraining the growth of the global automotive energy recovery systems market. In addition, the availability of low-cost false systems is another factor expected to challenge the growth of the global automotive energy recovery systems market to a certain extent.
Asia Pacific market is likely to capture the majority share in the global automotive energy recovery systems market and is expected to continue its dominance during the forecast period. The market growth is attributed to stringent government regulations related to air pollution from vehicles, growing vehicle production, and the presence of major players operating in countries in this region.
Further, the recognition of Tesla models has made many people in China cognisant of the brake energy recovery systems, which not only help slash the energy lost during braking in vehicles but also make single-pedal mode possible.
The European market is projected to record the fastest growth in terms of revenue, due to the growing adoption of the product in commercial vehicles in developing economies in this region.
France and Russia are likely to grow significantly, driven by a rise in the number of electrical vehicles & EVSE infrastructure and enhanced vehicle performance. The automotive industry observed an upward trend of hybrid cars in a process to reduce carbon emissions. Moreover, increasing adoption of innovative and advanced technology are some of the factors reinforcing the demand for energy recovery systems in the region.
U.S. sales of hybrid vehicle sales jumped 76% to 801,550 vehicles last year, accounting for 5% of U.S. light-vehicle sales. Hence, the rising popularity of EVs is nurturing the automotive energy recovery systems market across the countrye.
Further, owing to stringent emission standards against the effects of diesel engines on health and the environment, the region witnessed upsurged demand for Automotive Energy Recovery Systems. Honda, which plans to launch its first EV for the U.S. market in 2024, anticipated the market to take off thanks to a slew of new model launch
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
Vehicle Type:
Waste Heat Recovery System:
Region:
Until 2032, the automotive energy recovery systems market is forecast to grow at a 9% CAGR
According to FMI, demand is expected to emerge the strongest across Asia-Pacific
Mitsubishi Heavy Industries. Ltd., Robert Bosch GmbH, Autoliv Inc. and Continental AG are some key automotive energy recovery systems providers
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Automotive Energy Recovery Systems Market
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