Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for energy industry professionals · Thursday, March 28, 2024 · 699,407,373 Articles · 3+ Million Readers

Automotive Energy Recovery Systems - Global Market Overview & Outlook (2018-2024): Rise in the Number of Electrical Vehicles & EVSE Infrastructure is Driving Growth

Dublin, Nov. 19, 2018 (GLOBE NEWSWIRE) -- The "Global Automotive Energy Recovery Systems Market- Technologies, Market Share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

Global automotive energy recovery systems market to witness an impressive CAGR of 27.3% till 2024

Automotive energy recovery systems utilize the energy of vehicle that comes from engine exhaust and radiator. This energy can be delivered to provide additional power to engine and other vehicle parts. These systems optimize the efficiency of vehicles along with reducing CO2 emissions.

Global automotive energy recovery systems market is mainly driven by stringent vehicular emission regulations and need for environment-friendly systems.

Other than these, rise in number of electric vehicles & Electric Vehicle Supply Equipment (EVSE) infrastructure along with trend of engine downsizing are fueling the growth of global automotive energy recovery systems market.

On 12 December 2015 Paris agreement was signed by 175 countries aimed at reducing the global CO2 emission by 28% by the end of 2025, as per United Nations Framework Convention on Climate Change (UNFCCC). On 1st April 2017 the supreme court of India had banned the sale of vehicles BS-III compliant vehicles and imposed BS-IV as the standard emission criteria by vehicles for sale in India.

European Union has also set a target for average CO2 emission for new passenger cars and light commercial vehicles, according to the EU regulation no. 443/2009, CO2 emission must not exceed 95 grams per kilometer by 2021 and for light eight commercial vehicles 175 g/km applies from 2017, and 147 g/km from 2020. Furthermore, according to European Union, EU's objective to reduce CO2 emissions by 40% up to 2030 as compared to 1990.

Also, CO2 emissions would be reduced by 60% as compared to 1990 and abolishing the fossil fuel cars by 2050. Hence, stringent government regulations regarding CO2 and NOx emissions is majorly driving the global automotive energy recovery systems market.

Turbocharger segment to witness the fastest CAGR over the forecast period (2017-2024)

Turbochargers utilize the exhaust energy of vehicle and produce more amount of air into the combustion chamber, thereby optimize engine's efficiency. Technological advancements in turbochargers include assisted turbocharging, improvements in bearing design, innovations in compressor, multi stage turbocharging and others.

In addition, there are several investments in turbochargers that justify the fastest growth rate of turbocharger segment. For instance, in June 2016, Brakes India has invested an amount of $27.056 million on designing the castings of turbochargers. In addition, in May 2017, IHI (Ishikawajima Heavy Industries) (an industrial machinery market of Japan) has announced to invest $54.1 million for expanding the range of turbochargers due to strict emission regulations.

Moreover, in November 2017, Continental AG has announced that it is heading towards the expansion of its turbochargers business in Shanghai, China. Further, companies are developing various types of turbochargers such as twin turbocharger, wastegate turbocharger and variable geometry turbocharger.

Moreover, key players such as Denso Corporation (Japan), Robert Bosch GmbH (Germany), Autoliv Inc. (Sweden), Borgwarner (U.S.), Continental AG (Germany) are expanding their product portfolios of turbochargers to be applied in electric and hybrid vehicles.

Asia Pacific to offer immense opportunities over the forecast period (2017-2024)

Asia Pacific is expected to witness the fastest growth rate in automotive energy recovery systems market over the forecast period. The factors driving the fastest growth rate of Asia Pacific are high automotive production along with electric vehicles, need of improved efficiency in vehicles, increasing NOx levels, stringent government emission norms and presence of majority of key players.

According to the Bureau of Transportation Statistics (United States), Asia Pacific accounted for more than 50% of total global production of passenger cars in 2015 which was around 55,770 units. Countries such as China, India, Japan and South Korea deal with major production of vehicles on a large scale in Asia Pacific. According to the International Trade Administration, vehicle sale in China reached 28 million units in 2016, with a growth of 9% from 2015.

According to the Chamber of Automotive Manufacturers of Philippines (CAMPI), sale of automotive witnessed 27.6% increase in 2016 from 2015 in Philippines. Passenger cars witnessed 20% increase in sale (7,200 units in January 2015 to 8,632 units in 2016). Commercial vehicles increased by 32% (11,462 units in 2015 to 15,176 units in 2016).

According to EV outlook, in 2016, more than 345 thousand electric buses and over 200 million electric two wheelers were recorded in China. Further, steady economic growth of Asia Pacific would also influence the automotive energy recovery systems market.

For instance, Asian Development Bank (ADB) says that the economic growth of India has increased from 7.2% in 2014 to 7.9% in 2015. Moreover, presence of key player such as Mitsubishi Heavy Industries, Ltd. (Japan), Hyundai Mobis (South Korea), Denso Corporation (Japan), Panasonic (Japan) and others justify the fastest growth rate of Asia Pacific. Hence, owing to all parameters mentioned above, Asia Pacific is expected to witness the fastest growth rate over forecast period (2017-2024).

Market Dynamics

Drivers

  • Rise in Number of Electrical Vehicles & EVSE Infrastructure
  • Trend of Engine Downsizing
  • Stringent Vehicular Emission Rules and Regulations
  • Need for Environment-Friendly Systems

Restraints

  • High Repair and Maintenance Cost
  • Increase in Overall Cost and Weight of Vehicles

Opportunities

  • Increasing Government Initiatives Regarding the Environment
  • Benefit Related to Markets

Challenges

  • Lack of Awareness Among Consumers
  • Manufacturing of Low Cost Systems

Key Topics Covered

1. Introduction
1.1. Executive Summary
1.2. Estimation Methodology

2. Market Overview
2.1. Global Automotive Energy Recovery Systems Market: Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Regulatory Framework
2.5. Total Market Analysis
2.6. Estimation Analysis
2.7. Strategic Analysis
2.8. Competitive Analysis
2.9. Strategic Recommendations & Key Conclusions

3. Market Determinants
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Challenges

4. Global Automotive Energy Recovery Systems Market By Product Type
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation

5. Global Automotive Energy Recovery Systems Market By Vehicle Type
5.1. Market Definition And Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation

6. Competitive Landscape
6.1. Key Strategies

7. Geographic Analysis
7.1. Decision Support Database & Estimation Methodology
7.2. Comparative Analysis Across Market Segments
7.3. Opportunity Matrix
7.4. Global Automotive Energy Recovery Systems Market By Region 2015-2024 ($ Million)

8. Company Profiles
8.1. Autoliv Inc. (Sweden)
8.2. Borgwarner (U.S.)
8.3. Continental Ag (Germany)
8.4. Cummins Inc. (U.S.)
8.5. Delphi Automotive Plc (UK)
8.6. Denso Corporation (Japan)
8.7. Faurecia (France)
8.8. Gentherm Incorporated (U.S.)
8.9. Honeywell International Inc. (U.S.)
8.10. Hyundai Mobis (South Korea)
8.11. Mitsubishi Heavy Industries, Ltd. (Japan)
8.12. Panasonic (Japan)
8.13. Ricardo Plc (UK)
8.14. Robert Bosch Gmbh (Germany)
8.15. Tenneco Inc. (U.S.)

For more information about this report visit https://www.researchandmarkets.com/research/cs8bpl/automotive_energy?w=12

                    CONTACT: ResearchAndMarkets.com
                             Laura Wood, Senior Press Manager
                             press@researchandmarkets.com
                             For E.S.T Office Hours Call 1-917-300-0470
                             For U.S./CAN Toll Free Call 1-800-526-8630
                             For GMT Office Hours Call +353-1-416-8900
                    Related Topics: Energy and Natural Resources, Telematics and Vehicle Electronics
                    

22157.jpg

Powered by EIN News


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release