report-bg

Automotive Energy Recovery Systems Market

Analysis by Type (Regenerative Braking System, Exhaust Gas Recirculation (EGR) and Turbochargers); by Vehicle Type (Electric Vehicles, Hybrid Vehicles, and Plug-in Hybrid Electric Vehicles); and by Application (Passenger Vehicle and Commercial Vehicle) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

Buy Now
Report ID: 4400 | Published On: Feb 17, 2023
Request Free Sample Copy

Global Automotive Energy Recovery Systems Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global automotive energy recovery systems market is estimated to garner a revenue of ~USD 170 Billion by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 70 Billion in the year 2022. The growth of the market can be attributed to the growing demand of automobiles as well as increasing sale of cars worldwide. Furthermore, growing manufacturing of fuel-efficient vehicles backed by the growing CO2 emission triggering the higher cases of respiratory diseases are also anticipated to hike the market growth over the forecast period. For instance, it was estimated that, in 2021 the car sales reached around 66 million automobiles globally. Hence, such factors are expected to flourish the growth of the market during the forecast period.

Automotive-Energy-Recovery-Systems-Market-scope.jpg

Global automotive energy recovery systems market trends such as, recent advancements in automotive energy recovery systems as well as rising greenhouse gases, the demand for automotive energy recovery systems is on the rise amongst automobile manufacturers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive energy recovery systems market during the forecast period. For instance, it was found that a passenger vehicle emits ~ 4.6 metric tons of carbon dioxide per year. Moreover government of different nation are investing heavily to promote the notion of saving the environment. Vehicles are one of the major mediums to increase the amount of pollution in the atmosphere and as a result there is a need for proper arrangement to prevent this issue.


Automotive-Energy-Recovery-Systems-Market-scope.jpg
Get more information on this report: Request Sample PDF

Global Automotive Energy Recovery Systems Market: Key Insights
cscs

Base Year

2022

Forecast Year

2023-2033

CAGR

~9%

Base Year Market Size (2022)

~ USD 70 Billion

Forecast Year Market Size (2033)

~ USD 170 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Automotive Energy Recovery Systems Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Electric Vehicles (EV) – It was observed that global electric vehicles sales in 2021 were estimated to reach ~6.75 million units globally.

With most of the electric vehicles being equipped with a regenerative braking system. The increasing demand for EVs is expected to boost demand for automotive energy recovery systems as regenerative braking recovers some of the kinetic energy that would otherwise turn into heat and instead converts it into electricity.

  • Increasing R&D Spending in the Automotive Sector – it was found that in 2020, global R&D spending reached more than USD 135 billion in the automotive sector.

  • Increase in New Light Vehicle Sales—New light vehicles sales to reach 16 million units in 2021 worldwide, representing a 12.5% increase over 2020, as per estimates.

  • Emerging Emission Norms & Standards – According to reports, to reduce the level of tailpipe pollutants, in India the emission of only 10 parts per million (ppm) of Sulphur is permissible as per the updated Bharat Stage (BS)-VI, which is applicable from 2020.

Challenges

  • High Cost of Overall Vehicle Production - Automotive energy recovery systems increase the cost of automobiles since they can convert waste materials into heat and energy. Furthermore, it can also convert the chemical energy into mechanical energy. Hence, automotive energy recovery systems are very expensive and its commercial availability is quite difficult. Hence, this factor may hamper the growth of the market over the forecast period.
  • High Maintenance Cost
  • Concern about the Availability of Low-cost Faux Systems


Global Automotive Energy Recovery Systems Market Segmentation

The global automotive energy recovery systems market is segmented and analyzed for demand and supply by vehicle type into electric vehicles, hybrid vehicles, and plug-in hybrid electric vehicles. Out of these vehicle type, the electric vehicles segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing demand of electric vehicles (EV) along with the surge in the sale for electric vehicles worldwide. For instance, it is forecasted that by 2040, EVs and other zero-emission vehicles will account for almost 70% of new vehicle sales. Automotive energy recovery systems are used in electric cars for energy recover management. It can convert the kinetic energy into electrical when braking. Hence, this factor is expected to hike the growth of the segment over the forecast period.

The global automotive energy recovery systems market is also segmented and analyzed for demand and supply by application into passenger vehicle and commercial vehicle. Amongst these segments, the commercial vehicle segment is expected to garner a significant share. The segment is expected to grow on the back of higher utilization of automotive energy recovery systems in commercial vehicles across the globe. Commercial vehicles are used for the transportation of passenger and transport goods to provide profit for businesses and individuals. Some of the different types of commercial motor vehicles (CMVs) are taxicabs, pickup trucks, busses, trucks, vans, travel trailers, and many more. As of 2021, the global production of commercial vehicle rises from 22 million units while the sales of these vehicles estimated to hit around 700,000 units in the similar year across the globe.

Our in-depth analysis of the global automotive energy recovery systems market includes the following segments 

               By Type

  • Regenerative Braking System
  • Exhaust Gas Recirculation (EGR)
  • Turbochargers

             By Vehicle Type

  • Electric Vehicles
  • Hybrid Vehicles
  • Plug-in Hybrid Electric Vehicles

              By Application

  • Passenger Vehicle
  • Commercial Vehicle


Global Automotive Energy Recovery Systems Market Regional Synopsis

The Asia Pacific automotive energy recovery systems market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the growing demand for automobiles as well as the rising sales of vehicles including cars and commercial vehicles in the region. For instance, the total number of vehicles sold by China, Japan and South Korea in 2020 was projected to be ~25,225,200, ~ 8,067,557, and ~3,506,774 respectively.

Furthermore, the global automotive energy recovery systems market is anticipated to witness significant growth in North America region. The growth of the market in this region can be attributed to the escalated production of electric vehicles backed by the presence of many key manufacturers who are intrigued to invest large capital to make several new innovations in the energy recovery systems. Around 15 million units of light electric vehicle were projected to be sold out in the USA in 2021.

Further, Europe is anticipated to provide lucrative growth opportunity for the growth of the automotive energy recovery systems market over the forecast period on the back of growth in the R&D and spending in the automotive sector by the government and other private organizations. Therefore, all these factors are anticipated to boost the market growth in the region over the forecast period.

Automotive-Energy-Recovery-Systems-Market-regional.jpg

Automotive-Energy-Recovery-Systems-Market-regional.jpg
Get more information on this report: Request Sample PDF

Top Featured Companies Dominating the Global Automotive Energy Recovery Systems Market

    • The General Motors Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Autoliv Inc.
    • Mitsubishi Heavy Industries, Ltd.
    • Continental AG
    • Faurecia SE
    • Robert Bosch GmbH
    • Delphi Group
    • Panasonic Holdings Corporation
    • Tenneco Inc.
    • Cummins Inc.

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the automotive energy recovery systems market?

Ans: Surge in the penetration of electromechanical steering systems and growing demand for steering wheel are the major factors driving the market growth.

2) What would be the CAGR of automotive energy recovery systems market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the automotive energy recovery systems market growth?

Ans: Lack of awareness regarding IBS treatment and the side effects of IBS drugs are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of automotive energy recovery systems market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the automotive energy recovery systems market?

Ans: The major players in the market are Autoliv Inc., Mitsubishi Heavy Industries, Ltd., Continental AG, Faurecia SE, Robert Bosch GmbH, Delphi Group, Panasonic Holdings Corporation, Tenneco Inc., Cummins Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the automotive energy recovery systems market?

Ans: The market is segmented by type, vehicle type, application, and by region.

8) Which segment captures the largest market size in vehicle type segment in the automotive energy recovery systems market?

Ans: The electronic steering segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Let Us Hear About Your Requirements:

Submit Your Request For Proposal (RFP)

Request Research Report Sample