Automotive Energy Recovery Systems Market Size To Record USD 13.39 Billion Growth From 2023-2027, Technological Innovations Such As Waste Energy Recovery In Automotive Is One Of The Key Market Trends, Technavio

(MENAFN- PR Newswire) NEW YORK, April 24, 2024 /PRNewswire/ -- The global automotive energy recovery systems market
size is estimated to grow by USD 13.39 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 9.35% during the forecast period.

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Key Trends Fueling Growth:

• Technological innovations such as waste energy recovery in automotive:
  
  • 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.
    

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Major Challenge

• Operational issues and relatively higher cost of automotive energy recovery systems:
  
  • 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.

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Analyst Review

The Automotive Energy Recovery Systems Market is rapidly evolving with advancements in technology. Engine downsizing, turbochargers, and electric turbochargers are optimizing performance and efficiency in conventional vehicles. Meanwhile, the shift towards electric vehicles (EVs) is driving innovations in battery technology and regenerative braking systems, enhancing overall efficiency and reducing exhaust emissions.

Manufacturers are also exploring fuel cell systems to power EVs, further reducing atmospheric pollution and dependency on oil reserves. With a focus on sustainability, the market is witnessing the emergence of hybrid vehicles, plug-in hybrids, and fuel cell vehicles, promising lower carbon footprints and improved air quality.

As regulations tighten and consumers demand cleaner transportation options, the Automotive Energy Recovery Systems Market continues to expand, offering net benefits in terms of reduced operating costs, improved safety features, and enhanced environmental stewardship.

Key Topics Covered:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape

• Product
  
  • Regenerative Braking System
  • Turbocharger
  • Exhaust Gas Recirculation
• Type
  
  • Passenger Cars
  • Commercial Vehicles
  • Electric Vehicles
• Geography
  
  • APAC
  • North America
  • Europe
  • South America
  • Middle East And Africa

8
Geographic Landscape
9 Drivers, Challenges, and Trends
10
Venodr
Landscape
11
Vendor
Analysis
12
Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:

SOURCE Technavio

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