Global Exhaust Heat Recovery System Market

Exhaust Heat Recovery System Market Size, Share, Growth Analysis, By Technology (Conventional and Future Technology), By Mode(Exhaust Gas Recirculation (EGR), Turbocharger), By Vehicle Type(Passenger Cars, Light Commercial Vehicles), By Component(EGR Component, Turbocharger Component), By Application(Automotive, Industrial) - Industry Forecast 2024-2031

Report ID: SQMIG25A2244 | Region: Global | Published Date: April, 2024
Pages: 222 | Tables: 146 | Figures: 75

Share your requirements to help us to customize the report.
   I acknowledge that I have read the Privacy Policy
Confidentiality

We respect your privacy rights and safeguard your personal information. We prevent the disclosure of personal information to third parties.

Analyst Support
$5,300
BUY NOW GET FREE SAMPLE

FAQs

Exhaust Heat Recovery System Market size was valued at USD 17.08 Billion in 2022 and is poised to grow from USD 18.12 Billion in 2023 to USD 29.11 Billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

The competitive environment of the Exhaust Heat Recovery System Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. 'Garrett Motion Technology (Shanghai) Co., Ltd.', 'Mahle', 'Continental', 'Denso', 'BorgWarner', 'VALEO', 'Dana Inc', 'Calsonic Kansei', 'Delphi Technologies', 'MITSUBISHI HEAVY INDUSTRIES', 'IHI Corporation', 'Aisin Industries', 'Eberspaecher', 'Clean Diesel Technologies', 'Tenneco Inc', 'Katcon', 'Schaeffler'

Governments around the world mandate fuel-efficient vehicles to reduce pollution and climate emissions from vehicles. For example, the European Union (EU) mandated that the average fuel efficiency of all fleet manufacturers should not reach the US level. 57 miles per gallon (mpg) by 2021, surpassing the U.S. average. 41.9 miles per gallon in 2015 and the U.S. average. 92 miles per gallon by 2030 driven by integration will infuse its vehicles with advanced technology and improve the fleet as well. The performance of a car depends on the engine. Therefore, car manufacturers are urged to develop efficient engines, which can meet both requirements and provide improved performance & fuel efficiency simultaneously. Exhaust heat recovery solutions such as turbochargers and exhaust gas recirculation systems (EGR) are primarily turbo-boosted engines with smaller sizes and are specifically designed to increase fuel efficiency as per industry fuel consumption operate properly in accordance with Euro VI standards.

Stringent Emissions Regulations Are Driving Market Growth: The market CAGR for air recovery systems is driven by stringent emissions regulations. With increasing focus on the impacts of climate change and the UN's warning that the world only has a 12-year window to deal with, various sustainability industries, including the automotive industry, are taking shape some products to reduce their CO2 footprint. According to the World Health Organization, the transportation sector is the fastest growing source of all greenhouse gas emissions. This is primarily due to land and air travel, but the process is just as harmful as driving. The EU has committed to reducing greenhouse gas emissions throughout the second Kyoto Protocol.

Asia Pacific dominated the market with a 56% share by 2022. Asia Pacific is expected to witness the highest growth during the forecast period. Government regulations in this area are becoming increasingly stringent; For example, there are BS-VI standards which have been implemented by the Government of India to curb the emissions of vehicles. Coupled with environmental regulations, exhaust heat recovery systems will become increasingly popular as they not only reduce the amount of pollution emitted by vehicles, but also improve their fuel economy.

Related Reports

Automotive Brake System Market
Buy Now GET FREE SAMPLE
Automotive Airbag Market
Buy Now GET FREE SAMPLE
Automotive Lithium-Ion Battery Market
Buy Now GET FREE SAMPLE
Automotive Active Safety System Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Exhaust Heat Recovery System Market

Product ID: SQMIG25A2244

$5,300
BUY NOW GET FREE SAMPLE