Global Automotive Energy Recovery Systems Market Insights Forecasts to 2033

• The Global Automotive Energy Recovery Systems Market Size was Valued at USD 18.27 Billion in 2023
• The Market Size is Growing at a CAGR of 7.54% from 2023 to 2033
• The Worldwide Automotive Energy Recovery Systems Market Size is Expected to Reach USD 37.80 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Automotive Energy Recovery Systems Market Size is Anticipated to Exceed USD 37.80 Billion by 2033, Growing at a CAGR of 7.54% from 2023 to 2033.

Market Overview

An automotive energy recovery system (ERS) is a technology that captures and reuses energy that would usually be done in when a vehicle is in operation. ERSs can improve kinetic energy from a vehicle when it brakes or coasts, and then store and use that energy to aid the car accelerates or starts. This can help save fuel and reduce emissions. The primary applications of automotive energy recovery systems are to advance 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 afterward use. This stored energy can power the vehicle’s supplementary systems lowering engine load and boosting overall fuel economy. Furthermore, by reducing dependency on traditional fossil fuels, the automotive energy recovery system helps to reduce greenhouse gas emissions and moderate environmental damage coinciding with the growing global focus on sustainability and clean transportation solutions.

According to the U.S. Department of Energy, The Vehicle Technologies Office is operational to improve fuel efficiency by supporting research on turbochargers and thermoelectric devices, which can convert some of the wasted energy from hot exhaust gases into usable work or electricity. Combustion engines produce various pollutants, such as nitrogen oxides, carbon monoxide, unburned hydrocarbons, and particulate matter. Emissions from combustion engines are at present controlled by catalytic reaction or filtration system in the exhaust pipe, but as engines become more efficient, there is less heat obtainable to power these systems. Therefore, unless better low-temperature exhaust catalyst materials are developed, increased engine efficiency could reduce the effectiveness of emission control systems.

Report Coverage

This research report categorizes the market for automotive energy recovery systems based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the automotive energy recovery systems market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the automotive energy recovery systems market.

Driving Factors

The increasing consciousness of fuel efficiency and sustainability, united 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 vehicle performance and supporting the transition to electric and hybrid vehicles, driven by technological advancements. In addition, the market is experiencing substantial growth due to growing consumer demand for eco-friendly vehicles and the emphasis on reducing operational costs.

Restraining Factors

Manufacturers, especially smaller companies, may be diverted 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. Fluctuating raw material prices and the limited availability of skilled labor further impact overall production efficiency.

Market Segmentation

The automotive energy recovery systems market share is classified into subsystem and propulsion.

• The turbocharger segment is estimated to hold the highest market revenue share through the projected period.

Based on the type, the automotive energy recovery systems market is classified into turbocharger, exhaust gas recirculation, and regenerative braking systems. Among these, the turbocharger segment is estimated to hold the highest market revenue share through the projected period. Turbochargers play a significant role in enhancing engine efficiency and performance, as they develop fuel combustion by forcing auxiliary air into the engine, thus increasing power output without a corresponding rise in size. The potential of turbochargers is predominantly appealing to automakers striving to meet stringent emissions regulations while maintaining vehicle performance. In addition, the growing trend headed for downsized engines, which rely on turbocharging to deliver power, further drives demand for this technology. As consumers increasingly prioritize fuel efficiency and performance.

• The internal combustion engine (ICE) segment is anticipated to hold the largest market share through the forecast period.

Based on the application, the automotive energy recovery systems market is divided into internal combustion engine (ICE), and electric. Among these, the internal combustion engine segment is anticipated to hold the largest market share through the forecast period. Traditional internal combustion engine vehicles control the automotive landscape globally, primarily due to the widespread prevalence of internal combustion engine vehicles despite the rise of electric and hybrid alternatives. modernization in energy recovery technologies such as turbocharging and exhaust heat recovery systems is motivated by the continued demand for improved fuel efficiency and concentrated emissions in internal combustion engine vehicles, as manufacturers work to optimize existing internal combustion engine models with increasingly more rigorous emissions regulations.

Regional Segment Analysis of the Automotive Energy Recovery Systems Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the automotive energy recovery systems market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the automotive energy recovery systems market over the predicted timeframe. 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 at the fastest CAGR growth of the automotive energy recovery systems market 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. Consumer awareness of environmental issues and the shift toward greener transportation options further support market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the automotive energy recovery systems market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Faurecia
• the 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.
• Energy Recovery
• Others

Key Target Audience

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

Recent Developments

• In May 2024, Porsche released the first production, a hybrid version of the 911, the new 992.2 GTS, which comes equipped with both a 40kW motor integrated into the transmission and an energy recovery system on the turbocharger.

• In January 2024, the world’s first road-based energy recovery system is to launch in the UK market. Developed over the last five years by London-based ROUUTE, the E: GEN is a new source of sustainable energy comprised of a patented road energy recovery system.

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