Exhaust Heat Recovery System Market Witness to reach $64.94 billion by 2025

 The report “Exhaust Heat Recovery System Market by Technology (EGR, Turbocharger, ORC, TEG), Component (EGR Valve & Cooler, Turbine, Compressor, Evaporator, Condenser, TEG Module), Vehicle (PC, LCV, Truck, Bus, Hybrid, OHV) and Region – Global Forecast to 2025″, The global exhaust heat recovery system market, in terms of value, is expected to grow at a CAGR of 10.38% during the forecast period. The market in 2018 is estimated to be USD 32.54 billion and is projected to reach USD 64.94 billion by 2025. Technologies such as EGR and turbocharger help in achieving reduced emissions and improvement in performance of the vehicle without influencing the vehicle performance. The growth of the exhaust heat recovery system market is influenced by factors such as the increasing production of commercial vehicles where turbochargers and EGR are standard fitments. Even future technology like ORC is expected to get commercialized for commercial vehicles first. In addition to that, due to stringent emission norms, EHRS technologies are getting rapid acceptance in gasoline vehicles too.

“Hybrid electric vehicle segment is projected to be the largest and fastest growing market for EHRS, by electric and hybrid vehicle type”

The increasingly stringent vehicle emission control regulations imposed by governments, growing environmental concerns, volatile oil prices, and increasing consumer awareness about hybrid vehicles are causing a paradigm shift in the automobile industry. Automotive OEMs and tier-1 are investing a huge amount of money in research and development to improve the efficiency of hybrid vehicles by developing new and efficient technologies like the exhaust heat recovery system. The hybrid vehicle has more scope for heat recovery as it has both ICE engine and batteries. The technologies like thermoelectric generator can reuse the heat from the batteries and it can be converted into electricity for auxiliary purposes. Due to the scope of heat recovery, hybrid vehicles are expected to be the largest market for the exhaust heat recovery system.

Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=104650524

“Passenger car is projected to be the largest and fastest growing market for EHRS, by vehicle type”

Due to stringent emission norms, the majority of diesel passenger cars are equipped with EHRS technologies such as EGR and turbocharger, and the trend for gasoline vehicle is also increasing. The passenger car segment is estimated to be the largest and the fastest growing for the exhaust heat recovery system market because of the higher production of passenger cars compared to commercial vehicles. The global production of passenger cars increased by 20% from 2011 to 2016 from 59.9 million units to 72.1 million units. The production of passenger cars is also expected to increase at a significant rate from 2018 to 2025. The production of passenger cars in Asia Oceania is the highest with more than 46.0 million units, followed by Europe with more than 17.6 million units. The rapidly growing vehicle production and stringent emission norms will boost the EHRS market for the passenger car segment particularly in countries such as China, Germany, and India among others.

“EGR cooler is projected to be the largest market for EHRS, by component”

EGR consists of 2 components, namely, EGR valve and EGR cooler. EGR cooler cools the exhaust gases before they are recirculated into the intake manifold, which reduces the combustion temperature, preventing valve clatter, and detonation. Since NOx gases are mainly produced at a high temperature, EGR cooler allows a reduction in the NOx gas generation. EGR cooler contributes the major share of the total EGR cost, which is higher than other components. Due to these reasons, EGR cooler is expected to be the largest market for EHRS. EGR coolers are more costly for heavy-duty vehicles as the temperature of exhaust gas is very high compared to that in passenger cars and LCVs.

Key Market Players:

The exhaust heat recovery system market for automotive is dominated by a few globally established players such as BorgWarner (US), Continental (Germany), Faurecia (France), Denso (Japan), and MAHLE (Germany). These companies developed new products, adopted expansion strategies, obtained supply contracts, established collaborations & partnerships, and used mergers & acquisitions to gain traction in the exhaust heat recovery system market.

Request Free Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=104650524

Comments

Post a Comment

Popular posts from this blog

Automotive Camera Market by Application, View Type, Technology and Region – Global Forecast to 2025

The Automotive Camera Market is projected to grow at a CAGR of 10.62% during the forecast period. It is estimated to be USD 7.5 billion in 2018 and is projected to reach USD 15.1 billion by 2025. The market growth is primarily driven by factors such as regulatory changes and increasing demand for the active safety system. The emergence of newer safety technologies in the automotive industry and the growing demand for electric cars have driven the automotive camera market. Added safety and convenience for the driver has been a major objective of developing camera systems. Moreover, the increasing government mandates related to active safety system are driving the automotive camera market. For instance, in May 2018, the government of Canada and the US mandated that all vehicles under 10,000 pounds must be equipped with a backup camera. Also, the US government has a voluntary agreement with many manufacturers to fit autonomous emergency braking (AEB) by 2022. European governments...
Read more

Occupant Classification System Market Latest Trends and Forecast Growth Report to 2025

The global Occupant Classification System Market is projected to grow at a CAGR of 6.80% from 2018 to 2025, to reach USD 3.17 billion by 2025. The increasing awareness about safety in a vehicle has increased the demand for active and passive safety systems. As a result, the automotive industry has witnessed the increasing adoption of active and passive safety systems in a vehicle.  Passive safety systems inside the vehicle include airbags, seatbelts, whiplash protection system, and occupant classification system. Occupant protection system features such as airbags and seatbelts reduce the probability of death or severe injuries in a traffic mishap. Airbags in a vehicle have significantly improved the safety of occupants. Occupant classification system manufacturers utilize a good portion of their engineering resources to develop new products or improve existing passive safety systems for the automobile. All these developments are primarily focused on improving the overall sa...
Read more

Automotive Actuators Market to Surpass $29.3 Billion by 2030

The Automotive Actuators Market is projected to grow from an estimated USD 20.9 billion in 2023 to reach USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period. Automakers are highly focused on developing new and improved components to increase the fuel efficiency of vehicles owing to growing concerns over environmental changes. Automotive actuators play a significant role in reducing emissions and enhancing vehicle efficiency. Electric actuators, also known as smart actuators, replace hydraulic and pneumatic actuators due to their several benefits, like compact and lightweight design, more energy efficient, and less expensive, making it ideal for various applications. Smart actuators can perform diagnostics and include learning capabilities and memory functions. Electric actuators are typically installed in engines that open and close different valves, which is also anticipated to fuel the overall market growth. “Electric Actuators will be the dominating actuation...
Read more