1. What is the projected Compound Annual Growth Rate (CAGR) of the Automotive Energy Recovery System Market ?
The projected CAGR is approximately 7.2%.
Automotive Energy Recovery System Market by Subsystem (Turbocharger, Exhaust Gas Recirculation (EGR), by Vehicle (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), by Propulsion (ICE, Electric), by North America (U.S., Canada, Mexico), by Europe (Germany, France, U.K., Rest of Europe), by Asia Pacific (Japan, China, India, South Korea, Rest of Asia Pacific) Forecast 2025-2033
The Automotive Energy Recovery System Market size was valued at USD 17.12 USD Billion in 2023 and is projected to reach USD 27.85 USD Billion by 2032, exhibiting a CAGR of 7.2 % during the forecast period. Automotive energy recovery systems, also known as ERS, are some of the most innovative solutions employed in automotive engineering to enhance vehicle efficiency. It includes different systems that is used for harvesting and utilising the energy that is normally lost during periods of braking or decelerations. ERS commonly integrates a regenerative braking function that transforms the kinetic energy of a vehicle into electrical energy charged in batteries or capacitors. There are primarily two types of ERS: One can mention the Kinetic Energy Recovery Systems (KERS) and the Electric Turbo-Compound Systems. KERS capture energy during braking, while electric turbo-compound systems capture energy, and power, from the exhaust emissions of an engine. Some of the features that are associated with Automotive ERS include an increase in the efficiency of fuel consumption, a decrease in emissions, and an increase in vehicle performance. It is used not only in historical internal combustion engine vehicles but also in electrical or hybrid vehicles, which help promote environmental conservation in the automotive sector. Automotive ERS can be useful in several ways The benefits are highlighted below. It increases vehicles’ efficiency and range for electric cars, as well as decreases fuel consumption in regular cars and their emissions.
Subsystem
Vehicle
Propulsion
This comprehensive market report provides an in-depth analysis of the automotive energy recovery system market, encompassing:
Strengths:
Weaknesses:
Opportunities:
Threats:
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 7.2% from 2019-2033 |
Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 7.2%.
Key companies in the market include BorgWarner Inc. (U.S.), Continental AG (Germany), Robert Bosch GmbH (Germany), Tenneco Inc. (U.S.), Rheinmetall Automotive AG (Germany), Hyundai Motor Group (South Korea), Cummins Inc. (U.S.), Mitsubishi Electric Corporation (Japan), GARRETT MOTION INC. (Switzerland), Enersgy Recovery (U.S.).
The market segments include Subsystem, Vehicle, Propulsion.
The market size is estimated to be USD 17.12 USD Billion as of 2022.
Increasing Demand for Forged Products in Power. Agriculture. Aerospace. and Defense to Drive Industry Expansion.
Rising Adoption of Automation in Manufacturing to Drive Market Growth.
High Production and Maintenance Costs Hinder Market Growth.
In 2022, BorgWarner introduced a new electric turbocharger designed to improve fuel economy and reduce emissions in gasoline-powered vehicles. In 2021, Continental AG acquired Automotive Control Systems (ACS), a leading supplier of EGR systems, to strengthen its portfolio of energy recovery solutions.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Thousand Units.
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