The Global Exhaust Heat Recovery System Market was worth US$ 45.02 billion in 2022 and is anticipated to reach a valuation of US$ 80.62 billion by 2028 and is predicted to register a CAGR of 10.46% during 2023-2028.
Also, demanding emission laws including increasing demand for diesel vehicles, significantly within the industrial vehicle phase are extremely instrumental in the growth of the global exhaust heat recovery system business.
Market Drivers:
Growing interest in exhaust heat recovery systems because of increasingly tight emission rules related to on-road as cross-country vehicles could be a major issue expected to drive the growth of the global exhaust heat recovery system market. Additionally, the use of exhaust heat for auxiliary applications like heating, ventilation, air conditioners (HVAC), and oil cooling will produce growth opportunities for makers within the international marketplace.
Market Restraints:
Moreover, the shifting trend towards electrical propulsion in vehicles within developed countries could be a major issue expected to restrain the growth of the global market over the conjecture period.
Market Recent Developments:
In addition to improving already present technologies similar to common-rail injection systems and exhaust-gas treatment systems, Bosch is functioning on new technologies that improve industrial vehicles for fuel economy and scale back their emissions even additional.
The new Hybrid Chevrolet Malibu is introduced on the US market. EGHRS by BOSAL is the new innovation in the vehicle market, which is the primary downstream for the heat exchange system market.
Faurecia integrated the all-new Hyundai IONIQ Hybrid and plug-in Hybrid with its reliable Exhaust Heat Recovery System (EHRS), providing up to three per cent fuel savings, as measured on U.S. independent agency Federal take a look at Procedure (FTP20).
Cummins Turbo Technologies welcomed Deputy Prime Minister Nick Cleg to its Huddersfield website because it discovered the most recent results of its innovative analysis and development project that aims to boost fuel potency by 5% and considerably scale back carbon dioxide.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
10.46% |
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Segments Covered |
By Component, Technology, Vehicle, and Region. |
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Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Robert Bosch GmbH, Continental AG, Aptiv, Hitachi Ltd., Denso Corporation, Bosal, Faurecia, Cummins Inc., Tenneco Inc, Borgwarner Inc., Autoliv Inc., IHI Corporation, and Others. |
Market Segmentation:
The mechanical turbo combining section is witnessing important demand for exhaust heat recovery systems. This section has larger benefits, as compared to the different 3 segments; therefore, it's being widely utilized in vehicles. In mechanical turbo combining, the exhaust gas is employed to run a compressor that will increase the density of the intake air. The raised density of the intake will increase the ability output of the engine.
Among these, EGR is dominating the world market, as a result of its increased demand supported by the advantages it offers. These embody permitting vehicles to be additional environment-friendly together with being extremely cost-efficient by saving fuel. On the opposite hand, the turbocharger is the quickest growing market due to the growing demand for energy-proficient engines and optimized atmospheric pollution.
The passenger cars section holds an outstanding share of the market, as a result of the massive range of passenger vehicles. It's been forecasted that the demand for passenger cars is going to be high in the future, which has nice opportunities for the global exhaust heat recovery system market.
Hybrid electrical vehicles aim to deliver respectable fuel savings with no further value and these vehicles scale back overall emissions. With the above-mentioned factors, the global market for hybrid electric vehicles will be inevitable in foreseen years.
Market Reginal Analysis:
The Global Exhaust Heat Recovery System Market Report includes the segmentation of regions:
The Americas is the dominating market within the international exhaust heat recovery system market. Strict rules enforced by the government alongside numerous environmental organizations to save lots of energy are driving the market within the Americas. Within the region, the US may be a major contributor, backed by robust economic processes likewise as fast industry within the country. The market within Europe is projected to register relatively quicker growth in terms of revenue over the next ten years. This growth may be attributed to increasingly tight laws relating to vehicle emissions that are successively making demand for exhaust heat recovery systems within the region. The European market accounts for the second-highest revenue share within the international market and is predicted to register a CAGR throughout the forecast phase. The Asia Pacific market is calculable to account for the highest revenue share within the target market in terms of revenue contribution as compared to its markets in alternative regions due to, the rising production of exhaust heat recovery systems for gas cars by original instrumentation makers so as to satisfy coming strict emission norms within the area.
Market Key Players:
Frequently Asked Questions
The Global Exhaust Heat Recovery System Market is expected to grow with a CAGR of 10.46% between 2023-2028.
The Global Exhaust Heat Recovery System Market size is expected to reach a revised size of US$ 80.62 billion by 2028.
Robert Bosch GmbH, Continental AG, and Denso Corporation are the three Exhaust Heat Recovery System Market key players.
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