Demand for Clean Energy to Power Automobiles will Propel Global Energy Harvesting Market

ince the advent of electricity, coal and fossil fuel reserves have been the most widely used option for man to obtain the easily usable electric power. However, rampantly usage of these natural resources, which have had adverse repercussions on the environment, has now led to belated acknowledgement of the problem. Leading economies today are standing on the verge of an acute energy crisis as a consequence as the historical exploitation of fossil fuel and coal reserves. Depleting levels of fossil fuels have now emerged as a global concern. To counter the issue of energy shortage, the use of eco-friendly and renewable alternative energy sources is being promoted by governments all over the world.

Clean and renewable sources of energy are present abundantly across the universe. They are found in the form of wind, solar, mechanical, kinetic, and electromagnetic energy. Energy harvesting market is the process which captures, accumulates, stores, and manages energy derived from these sources for domestic, commercial, and industrial use. The energy harvested from these renewable resources is mostly supplied to remote areas where conventional grids can be hard to extend.

Electric Vehicle Industry Expected to Reach US$533billion by 2025

Electric vehicles use energy harvesting to recharge the traction battery and power up the prime traction. The prime traction battery inbuilt in electric vehicles exhibits the ability to control energy generated from multiple ambient sources, owing to which the smaller batteries installed in these vehicles can be recharged through various energy sources within the vehicle. According to a recently published report, the market for energy harvesting will greatly benefit from the robust development of the electric vehicle industry, which is expected to be valued at US$533billion by 2025.

As the general populace and the industrial sector is beginning to realize the inherent environmental as well as financial benefits of harvested energy, its applications are gradually widening. There are a few vehicles in the market today which function completely on harvested energy. These include vehicles such as solar lake boats. There are other vehicles such as cars and buses that recycle the energy obtained from excess kinetic energy with the help of regenerative brakes and/or regenerative shock absorbers.

Harvesting Energy Will Reduce the Cost of Vehicles

Apart from its ability to enhance the energy efficiency of a vehicle, harvested energy also helps reduce elements such as the weight and cost of a vehicle, which has had a positive impact on the energy harvesting market. When a vehicle runs on harvested energy, it can easily do away with wiring harnesses. This leads to a simpler design and in turn a lighter curb weight, with no compromise in the vehicle’s performance. Using harvested energy in automobiles offers superior design and flexibility, which has significantly propelled the energy harvesting market.

Industry experts suggest that the future of the car industry has a leading role to play in the future development of the global energy harvesting market. Leading players in the industry are likely to be the early adopters of this technology. Companies like EvFuture, Audi, Toyota, and SunPods are the prominent participants of the energy harvesting market.

Browse the full Global Energy Harvesting Market report at http://www.mrrse.com/energy-harvesting-market

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