Press release
Automotive Energy Recovery System Market is Expected to Reach to $71 billion, Globally, by 2022
Allied Market Research
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Automotive energy recovery system utilizes the energy, which is wasted by braking pads into useful energy so as to further use it in automobile system functions. The global automotive energy recovery system market is driven by stringent vehicular emission rules & regulations, rise in trend toward downsizing the engine, and stringent fuel economy standards. In addition, rise in a number of electrical vehicles & EVSE infrastructure and improved vehicle performance fuel the market growth. However, increase in overall cost & weight of vehicles and high repair & maintenance cost restrain the growth of the market. Increase in concerns about environment and advancement in technology, such as introducing waste energy recovery system in two-wheelers, are projected to provide various opportunities for the market growth.
Product type segment is divided into regenerative braking system (RBS), turbocharger, and exhaust gas recirculation (EGR). In 2015, regenerative braking system accounted for the largest revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to rise in a number of electric vehicles & EVSE infrastructure mostly in China, Japan, and the U.S. In addition, RBS market is expected to witness the highest growth rate of 33.4% during the study period. Moreover, turbocharger segment is anticipated to witness moderate growth rate due to rise in adoption of waste energy recovery system in passenger cars & commercial vehicles.
By vehicle type, the market is categorized into two-wheeler, passenger cars, and commercial vehicles. Passenger cars accounted for the largest market share due to rise in a number of electric cars such as BEV, PHEV, and HEV in 2015. Furthermore, increase in a number of EVSE infrastructure such as charging station, mostly in China, fuels the market growth. Moreover, two-wheeler segment is anticipated to witness highest growth rate during the forecast period. This is mainly due to rise in adoption of regenerative braking system in electric two wheelers.
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Asia-Pacific accounted for majority of revenue in 2015, and is expected to maintain its dominance due to stringent vehicular emission regulations, followed by Europe and North America. In 2015, China had 230 million E-bicycles, 83,000 E-cars, and 36,500 E-bikes. This is a result of advancement in technology of electric vehicle and government initiatives toward investment in EVSE infrastructure.
KEY FINDINGS OF AUTOMOTIVE ENERGY RECOVERY SYSTEM MARKET
1. In 2015, regenerative braking system market led the overall automotive energy recovery system market, and is projected to grow at a CAGR of 33.4% during the forecast period.
2. Passenger car segment dominated the market in 2015, and is estimated to grow at a CAGR of 28.5%.
3. Two-wheeler segment is expected to grow at a remarkable CAGR of 32.2%.
4. Asia-Pacific accounted for the largest market share in 2015, and is anticipated to grow at a CAGR of 28.7%.
Key players in the market focus to expand their business operations in the emerging countries with new product launches as a preferred strategy. The major players profiled in this report include Robert Bosch GMBH, Continental AG, Autoliv Inc., Hyundai Mobis, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., Cummins Inc., Tenneco Inc., Faurecia, BorgWarner Inc., IHI Corporation, Rheinmetall Automotive AG, Hitachi Automotive Systems, Ltd., Maxwell Technologies, and Skleton Technologies.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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