Global Automotive Energy Recovery Systems Market Size To Worth USD 37.80 Billion by 2033 | CAGR of 7.54%

Global Automotive Energy Recovery Systems Market Size To Worth USD 37.80 Billion by 2033 

According to a research report published by Spherical Insights & Consulting, the Global Automotive Energy Recovery Systems Market Size is Expected to Grow from USD 18.27 Billion in 2023 to USD 37.80 Billion by 2033, at a CAGR of 7.54% during the forecast period 2023-2033.

Browse key industry insights spread across 230 pages with 102 Market data tables and figures & charts from the report on the "Global Automotive Energy Recovery Systems Market Size, Share, and COVID-19 Impact Analysis, By Subsystem (Turbocharger, Exhaust Gas Recirculation, and Regenerative Braking System), By Propulsion (Internal Combustion Engine (ICE), and Electric), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/automotive-energy-recovery-systems-market

An automotive energy recovery system (ERS) is a technology that captures and reuses energy that would normally be wasted when a vehicle is in operation. ERSs can recover kinetic energy from a vehicle when it brakes or coasts, and then store and use that energy to help the car accelerate or start. This can help save fuel and reduce emissions. The primary applications of automotive energy recovery systems are to improve fuel efficiency and reduce pollution. These systems can transform kinetic energy from braking or coasting into electrical energy which is then stored in batteries or capacitors for later use. The increasing awareness of fuel efficiency and sustainability, combined with strict government regulations focused on reducing emissions, serves as the primary driver for the global automotive energy recovery systems market. Advanced energy recovery systems, such as regenerative braking and thermal energy recovery, are enhancing vehicle performance and supporting the transition to electric and hybrid vehicles, driven by technological advancements. Furthermore, the market is experiencing substantial growth due to rising consumer demand for eco-friendly vehicles and the emphasis on reducing operational costs. Manufacturers, especially smaller companies, may be deterred from investing in advanced energy recovery systems due to the high initial costs associated with development and integration. Additionally, the complexity of integrating energy recovery systems into existing vehicle designs poses engineering challenges and may lead to increased production times. However, fluctuating raw material prices and the limited availability of skilled labor further impact overall production efficiency.

The turbocharger segment is predicted to hold the largest market share through the forecast period.

Based on the subsystem, the automotive energy recovery systems market is classified into turbochargers, exhaust gas recirculation, and regenerative braking systems. Among these, the turbocharger segment is predicted to hold the largest market share through the forecast period. Turbochargers play a significant role in enhancing engine efficiency and performance, as they improve fuel combustion by forcing more air into the engine, thereby increasing power output without a corresponding increase in engine size. The capability of turbochargers is particularly appealing to automakers striving to meet stringent emissions regulations while maintaining vehicle performance. Furthermore, the growing trend toward downsized engines, which rely on turbocharging to deliver power, further drives demand for this technology

The internal combustion engine (ICE) segment is anticipated to hold the highest market share during the projected timeframe.

Based on the propulsion, the automotive energy recovery systems market is divided into internal combustion engine (ICE), and electric. Among these, the internal combustion engine (ICE) segment is anticipated to hold the highest market share during the projected timeframe. Traditional internal combustion engine (ICE) vehicles continue to dominate the automotive landscape globally, primarily due to the widespread prevalence of internal combustion engine (ICE) vehicles despite the rise of electric and hybrid alternatives. Innovation in energy recovery technologies such as turbocharging and exhaust heat recovery systems is driven by the continued demand for improved fuel efficiency and reduced emissions in internal combustion engine (ICE) vehicles, as manufacturers work to optimize existing internal combustion engine (ICE) models to comply with increasingly stringent emissions regulations.

Asia Pacific is estimated to hold the largest share of the automotive energy recovery systems market over the forecast period.

Asia Pacific is estimated to hold the largest share of the automotive energy recovery systems market over the forecast period. Asia Pacific is experiencing substantial growth in the automotive energy recovery market due to rapid industrialization, a growing automotive sector, and increasing consumer demand for fuel-efficient vehicles. Significant investments in research and development for energy recovery technologies and government initiatives promoting electric and hybrid vehicles further drive the adoption of energy recovery systems in the region. The presence of major automotive manufacturers and a robust supply chain positions Asia Pacific as a key player in the global automotive energy recovery landscape.

North America is expected to grow the fastest during the forecast period. This is due to a strong focus on technological innovation and sustainability among automotive manufacturers serving. The region's stringent regulatory environment aimed at reducing greenhouse gas emissions and improving fuel efficiency encourages the adoption of advanced energy recovery technologies. Additionally, the increasing popularity of electric and hybrid vehicles, coupled with significant investments in research and development, enhances the demand for energy recovery systems.

Major key players in the automotive energy recovery systems market include faurecia, ihi corporation, BorgWarner Inc., Continental AG, Robert Bosch GmbH, Honeywell International Inc., Tenneco Inc., Rheinmetall Automotive AG, Hyundai Motor Group, Cummins Inc., Mitsubishi Electric Corporation, GARRETT MOTION INC., Enersgy Recovery and Other.  

Recent Developments

• In July 2024, IndyCar, the American open-wheel car racing series, is introducing hybrid technology as it premieres its new energy recovery system (ERS) at the Honda Indy 200 at Mid-Ohio. This development aligns with the introduction of the 2025 Civic Hybrid.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the automotive energy recovery systems market based on the below-mentioned segments:

Global Automotive Energy Recovery Systems Market, By Subsystem

• Turbocharger
• Exhaust Gas Recirculation
• Regenerative Braking System

Global Automotive Energy Recovery Systems Market, By Propulsion

• Internal Combustion Engine (ICE)
• Electric

Global Automotive Energy Recovery Systems Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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