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Key Driver Reshaping the Automotive Energy Recovery System Market Share in 2025: Electric and Hybrid Vehicle Surge Fuels Automotive Energy Recovery System Market Share Growth
Automotive Energy Recovery System Market Share
The market size for automotive energy recovery systems has seen a significant boost in the recent past. The market, which was valued at $21.99 billion in 2024, is projected to reach $24.15 billion in 2025, representing a compound annual growth rate (CAGR) of 9.8%. Factors such as the surge in urban mobility solutions, increasing smart city programs, the rise of electrified heavy-duty vehicles, expanded electric vehicle charging infrastructure, and the growth of advanced driver assistance systems have all contributed to the rapid growth experienced during the historical period.
Expectations suggest robust growth in the automotive energy recovery system market in the coming years. The market is predicted to expand to $34.86 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 9.6%. The escalation during the forecast period is likely due to increasing fuel costs, a rise in vehicle manufacturing, a greater focus on carbon footprint reduction, escalating climate change worries, and a surge in the demand for electric cars. The projected period will also witness key market trends including technological progress, hybrid energy storage systems, intelligent energy management systems, wireless energy transfer, and smart grid integration.
What Are the Main Catalysts for Growth in the Automotive Energy Recovery System Market?
The surge in the need for electric and hybrid vehicles is predicted to accelerate the development of the automotive energy recovery system market. Electric vehicles are those that solely operate on electricity from batteries, while hybrid vehicles employ both an internal combustion engine and electric motors to maximize fuel efficiency and minimize emissions. The interest in electric and hybrid vehicles springs from improvements in battery technology, increasing environmental consciousness, government incentives, and the rising need for transport solutions that are fuel-efficient and low on emissions. Automotive energy recovery systems in electric and hybrid vehicles harness and recycle energy generated from braking and other actions, thus improving efficiency, lengthening range, and lowering overall energy usage. For example, the International Energy Agency, a France-based intergovernmental organization reported in March 2023 that in 2022, electric car sales skyrocketed, exceeding 10 million and comprising around 14% of all new car sales, a significant increase from over 9% in 2021. As a result, the escalating demand for electric and hybrid vehicles is fuelling the expansion of the automotive energy recovery system market.
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Which Businesses Are at the Forefront of Automotive Energy Recovery System Market Development?
Major companies operating in the automotive energy recovery system market are Toyota Motor Corporation, General Motors Company, BMW Group, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Nissan Motor Co. Ltd., Audi AG, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Precision & Industries Corporation, Magna International Inc., Mitsubishi Electric Corporation, Honeywell International Inc., Aisin Seiki Co. Ltd., Cummins Inc., Valeo SA, Schaeffler AG, Parker Hannifin Corporation, BorgWarner Inc., GKN Automotive Ltd., Delphi Technologies Inc
Which Businesses Are at the Forefront of Albuminar-5 Market Development?
Key players in the automotive energy recovery system market are prioritizing the creation of inventive products like energy recovery systems. These systems utilize the heat generated by batteries, power electronics, and other driving components to improve the efficiency, performance, and range of electric vehicles. Energy recovery systems that harness the heat produced by batteries, power electronics, and other driving parts are essentially a thermal management system or a waste heat recovery system (WHRS) specifically tailored for electric and hybrid vehicles. This system absorbs and repurposes the heat generated by various parts to augment the total efficiency of the vehicle. For example, General Motors, a well-known automobile manufacturer from the US, unveiled an innovative energy recovery system for the Ultium electric vehicle platform in April 2022. This cutting-edge system employs advanced regenerative braking technology, effectively transforming kinetic energy into electrical power during braking, thus extending the vehicle's range. It contains an advanced thermal management system for efficiently managing and dissipating heat produced during the energy recovery process. The system is fully integrated with GM's energy management approach, guaranteeing symmetrical power distribution between the electric motor and regenerative braking to optimize efficiency.
How Is the Automotive Energy Recovery System Market Segmented?
The automotive energy recovery system market covered in this report is segmented -
1) By Subsystem: Turbocharger, Exhaust Gas Recirculation, Regenerative Braking System
2) By Propulsion: Internal Combustion Engine (ICE), Electric
3) By Key Technology: Camera, Fusion, Light Detection And Ranging (LiDAR), Radio Detection And Ranging (Radar)
4) By Vehicle: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
Subsegments:
1) By Turbocharger: Single Turbocharger, Twin Turbocharger, Variable Geometry Turbocharger (VGT)
2) By Exhaust Gas Recirculation (EGR): Low-Pressure EGR, High-Pressure EGR, EGR Coolers
3) By Regenerative Braking System: Kinetic Energy Recovery Systems (KERS), Electric Regenerative Braking Systems, Hydraulic Regenerative Braking Systems
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Where Is the Automotive Energy Recovery System Market Growth Most Prominent?
Asia-Pacific was the largest region in the automotive energy recovery system market in 2024. The regions covered in the automotive energy recovery system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Automotive Energy Recovery System Global Market Report?
- Market Size Analysis: Analyze the automotive energy recovery system Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the automotive energy recovery system market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall automotive energy recovery system market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the automotive energy recovery system market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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