Research Nester published a report titled “Automotive Energy Recovery Systems Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global automotive energy recovery systems market in terms of market segmentation by type, vehicle type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global automotive energy recovery systems market is anticipated to grow with a CAGR of ~9% during the forecast period, i.e., 2023–2033. The market is segmented by vehicle type into electric vehicles, hybrid vehicles, and plug-in hybrid electric vehicles. Out of these segments, the electric vehicle segment is anticipated to garner the largest market share over the forecast period, owing to the increasing demand for electric vehicles. In addition, rising sales of electric vehicles among automobile users are also expected to boost the growth of the segment in the coming years.
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The global automotive energy recovery systems market is estimated to garner a revenue of 170 million by the end of 2033, backed by the increasing number of cars worldwide. Various features, including the utilization of dissipated energy to provide power to the engine or batteries, and also enhance engine efficiency by recycling exhaust gases, are also projected to boost sales of these systems in the coming years. Moreover, the rising number of commercial vehicles as well as increasing R&D spending in the automobile sector are also projected to propel the growth of the market during the forecast period.
Geographically, the global automotive energy recovery systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is estimated to garner the largest market share over the forecast period, owing to the rising penetration of digital businesses. Apart from this, the market in North America is anticipated to register significant growth in the coming years.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Demand of Electric Vehicles to Drive the Market Growth
According to the data, EVs and other zero-emission vehicles will contribute for almost 70% of new vehicle sales by 2040.
The electric vehicles are equipped with a regenerative braking system. The regenerative braking recovers some of the kinetic energy which would otherwise turn into heat and instead converts it into electricity. Moreover, the increasing technological advancements as well as the rising sales of light vehicles are also expected to drive the growth of the global automotive energy recovery systems market during the forecast period.
However, high cost of overall vehicle production as well as concern about the availability of low-cost faux systems are expected to operate as key restraints to the growth of global automotive energy recovery systems market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the of global automotive energy recovery systems market which includes company profiling of General Motors, Mitsubishi Heavy Industries Ltd., Robert Bosch GmbH, Autoliv Inc., Delphi Group, Continental AG, Panasonic Holdings Corporation, Cummins Inc., Tenneco Inc., Faurecia. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the of global automotive energy recovery systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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