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The automotive energy recovery systems market size is estimated to grow at a CAGR of 9.35% between 2022 and 2027. The market size is forecast to increase by USD 13,394.47 million. The growth of the market depends on several factors like the increasing traffic congestion and traffic jams pushing demand for regenerative braking, the increasing number of electronic vehicles, and government regulation for air pollution from automobiles.
This automotive energy recovery systems market report extensively covers market segmentation by product (regenerative braking system, turbocharger, and exhaust gas recirculation), type (passenger cars, commercial vehicles, and electric vehicles), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing traffic congestion and traffic jams pushing demand for regenerative braking are driving market growth. One of the main problems automotive energy recovery systems in EVs help tackle is increasing traffic congestion observed in metropolitan cities. Stop-and-go traffic can severely impact energy efficiency due to increased idle time of the engine, which makes the role of automotive energy recovery systems increasingly practical.
Moreover, RBS works by converting kinetic energy generated into electrical energy, and this energy can be used immediately or stored in a battery for late usage. These systems can reach an average efficiency of 60%-70% which helps reduce fuel costs and increases the mile coverage of vehicles. Hence, such factors will boost the growth of the market during the forecast period.
Technological innovations such as waste energy recovery in automotive are a key trend in the market. Waste energy recovery helps in capturing excess heat that is generated from the engine which helps improve overall fuel efficiency. This also results in reduced fuel consumption and lesser carbon emissions
Hence, automotive manufacturers are investing massively to further expand the scope of automotive energy recovery systems by integrating new technologies that help in efficient waste energy recovery. This will contribute to helping manufacturers comply with stringent regulations and also provide an eco-friendly transportation option for consumers. Hence, such factors will boost the growth of the market during the forecast period.
The operational issues and relatively higher cost of automotive energy recovery systems are challenging market growth. Despite the numerous advantages of automotive energy recovery systems, there are some limitations that challenge their adoption. One of them is the large cost due to the existence of quality electronic systems and controllers and high installation costs, which will also result in increased vehicle prices as well.
Additionally, it is not compatible with all series-wound electric motors as the system cannot handle fluctuating loads. This results in the system only being effective at a certain minimum speed as this speed generates a voltage higher than the battery voltage for charging it. Moreover, energy generation is limited by the battery size unless high-capacity capacitors are used, which would further add to costs. Hence such factors will pose a hindrance to market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Energy Recovery Systems Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Autoliv Inc. - The company offers automotive energy recovery systems such as Energy Harvesting Suspension Systems.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The regenerative braking system segment is estimated to witness significant growth during the forecast period. Automotive regenerative braking system helps capture the energy lost by braking and reuse it later when needed. This helps in the collection, usage, or even storage of kinetic energy in the vehicle battery. It provides numerous benefits including improved fuel efficiency and reduced carbon and other greenhouse gas emissions.
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The regenerative braking system segment was the largest segment and was valued at USD 8,220.45 million in 2017. Increased investment by the government to encourage EV adoption and other policies to increase EV sales are positively impacting this segment of the market. For example, the Indian government launched the National Electric Mobility Mission Plan 2020 which focuses on supporting both manufacture and sales of hybrid and electric cars in the country. Emission-related regulations and norms are vastly driving vendors to offer more technologically advanced models to remain competitive in the market.
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APAC is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In the APAC region, the major countries that contribute towards market growth are China and Japan due to the strong adoption of EVs to ensure compliance with stringent carbon emission norms. In cities like Beijing and Shanghai, which have among the highest population densities in the world, increasing carbon emissions are a serious issue. Hence there is a shift towards EV adoption which will also positively impact the automotive energy recovery systems market. China has witnessed increased sales of EVs due to numerous government and local OEMs that are investing in furthering the effectiveness of EV technology which will also make it more cost-effective. Additionally, increased consumer disposable income in countries like China, India, Thailand, Indonesia, and South Korea will also propel the growth of the regional market during the forecast period.
The COVID-19 outbreak negatively impacted the market due to the direct impact it had on the regional automotive industry. Several countries like Japan and South Korea witnessed their automobiles and components manufacturing units ceasing operations due to restrictions imposed. However, after large-scale vaccination drives and increasing consumer demand for automobiles, the regional market recovered. Moreover, with stringent emission regulations, the demand for the automotive energy recovery systems market is expected to increase, resulting in market growth during the forecast period.
The automotive energy recovery systems market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Automotive Energy Recovery Systems Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.35% |
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Market growth 2023-2027 |
USD 13,394.47 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.42 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 51% |
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Key countries |
US, Canada, China, India, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Autoliv Inc., BorgWarner Inc., Continental AG, Cummins Inc., Gentherm Inc., Hitachi Ltd., Honeywell International Inc., Hyundai Motor Co., IHI Corp., Mitsubishi Motors Corp., Rheinmetall AG, Ricardo Plc, Robert Bosch GmbH, Skeleton Technologies GmbH, Stellantis NV, Tenneco Inc., UCAP Power Inc., ZF Friedrichshafen AG, DENSO Corp., and Panasonic Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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