[119 Pages Report with Detailed Analysis] Automotive Energy Recovery Market (Description) : Automotive energy recovery system utilizes dissipated energy to perform various functions in a vehicle such as to provide power to engine or batteries and to enhance engine efficiency by recycling exhausted gasses. The utilization of dissipated energy improves the overall performance of a vehicle and reduces the emission of greenhouse gasses. Most of the electric vehicles are equipped with the regenerative braking system, whereas turbocharger and exhaust gas recirculation have greater penetration in diesel- & gasoline-powered vehicles.
Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Automotive Energy Recovery estimated at USD 116.6 million in the year 2022, is projected to reach a revised size of USD 160.3 million by 2028, growing at a CAGR of 5.4% during the forecast period 2022-2028.
The global automotive energy recovery system market is driven by stringent vehicular emission rules & regulations, increase in trend of engine downsizing, 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. Irrespective of these challenges, increase in concerns about environment and advancement in technology, such as introducing waste energy recovery system in two-wheelers, are expected to provide various opportunities for new products and boost the market growth.
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