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Automotive Energy Recovery Systems Market

Market Insights on Automotive Energy Recovery Systems covering sales outlook, demand forecast & up-to-date key trends

Automotive Energy Recovery Systems Market By Vehicle Type (Electric Vehicles, Hybrid Vehicles, Plug-in Hybrid Electric Vehicles), Waste Heat Recovery System (EGR and Turbochargers) & Region - Forecast 2022 - 2032

Automotive Energy Recovery Systems Market Overview

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 (2022-2032)

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.

Which are Some Prominent Drivers Spearheading Automotive Energy Recovery Systems Market Growth?

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.

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What are the Challenges Faced by the Automotive Energy Recovery Systems Industry?

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.

Why is Asia-Pacific Emerging as an Opportunistic Automotive Energy Recovery Systems Market?

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.

Nikhil Kaitwade
Principal Consultant
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How is Europe Contributing to the Growth of the Automotive Energy Recovery Systems Market?

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.

Why the United States Holds a Significant Share in the Automotive Energy Recovery Systems Market?

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

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Scope Of Report

Report Attribute

Details

Growth Rate

CAGR of 9% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Vehicle Type
  • Waste Heat Recovery System
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Mitsubishi Heavy Industries Ltd.
  • Robert Bosch GmbH
  • Autoliv Inc.
  • Continental AG
  • Honeywell International, Inc.
  • Cummins Inc.
  • Tenneco Inc.
  • Faurecia

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Key Segments Covered in the Automotive Energy Recovery Systems Report

Vehicle Type:

  • Automotive Energy Recovery Systems for Electric Vehicles
  • Automotive Energy Recovery Systems for Hybrid Vehicles
  • Automotive Energy Recovery Systems for Plug-in Hybrid Electric Vehicles

Waste Heat Recovery System:

  • EGR based Automotive Energy Recovery System
  • Turbocharger based Automotive Energy Recovery System

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

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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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Automotive Energy Recovery Systems Market