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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

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Continental AG – is launching two new sensors for electrified vehicles: The Current Sensor Module (CSM) and the Battery Impact Detection (BID) system. The manufacturing of all new high-voltage current sensor modules (CSM) will begin by 2022. The new solutions focus on protecting the battery and/or on battery parameter retention.
  • General Motors – announced the characteristics of its Ultium-based EVs that capture and repurpose waste energy from the battery. The Ultium Platform’s energy recovery system can increase a vehicle’s range, increase charging speed, reduce battery energy needed for heating, and even enable sportier driving through this waste energy.

Global Automotive Energy Recovery Systems Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~9%

Base Year Market Size (2022)

~USD 70 Million

Forecast Year Market Size (2033)

~USD 170 Million

The global automotive energy recovery systems market is estimated to garner a revenue of ~USD 170 million 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 million in the year 2022. The growth of the market can primarily be attributed to the growing demand of automobiles as well as increasing sale of cars worldwide. For instance, it was estimated that, in 2021 the car sales reached around 66 million automobiles globally.

Automotive-Energy-Recovery-Systems-Market

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Automotive energy recovery systems help in boosting the energy optimization of the vehicle. Dissipated energy is used in an automotive energy recovery system to perform several functions in a vehicle, such as delivering power to the engine or batteries, along with recycling exhausted gases, which further improves the engine efficiency. The application of dissipated energy also decreases the emission of greenhouse gases. With the 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.

Global Automotive Energy Recovery Systems Market: Growth Drivers and Challenges

Growth Drivers

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

  • 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, 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
  • High Maintenance Cost
  • Concern about the Availability of Low-cost Faux Systems

The global automotive energy recovery systems market is segmented and analyzed for demand and supply by vehicle type segment into electric vehicles, hybrid vehicles, and plug-in hybrid electric vehicles. Amongst these segments, the electric vehicles segment is anticipated to garner the largest revenue by the end of 2033, backed by 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.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Automotive Energy Recovery Systems Market Regional Synopsis

Regionally, the global automotive energy recovery systems market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by 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.

Automotive-Energy-Recovery-Systems-Market-Size

The global automotive energy recovery systems market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

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
 
Top Featured Companies Dominating the Global Automotive Energy Recovery Systems Market
  • General Motors
    • 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
  • Robert Bosch GmbH
  • Delphi Group
  • Panasonic Holdings Corporation
  • Faurecia
  • Tenneco Inc.
  • Cummins Inc.

 

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