Exhaust Heat Recovery System Market reaching USD 54.01 billion by 2023

Exhaust Heat Recovery System Market

The demand for efficient automobiles is escalating gradually and the demand for components that can ensure that efficiency is also growing. Market reports linked to the automobile industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is projected to earn incomes reaching USD 54.01 billion by 2023 while progressing at a CAGR of 10.40% in the forecast period.

The market for exhaust heat recovery system is expected to be primarily motivated by the strict emission regulations together with growing demand for diesel vehicles. The innovations in modern engine systems are expected to further spur the development of the exhaust heat recovery system market. The considerable fuel cost savings and substantial CO2 reduction are the other important factors that will influence the market expansion in the approaching forecast period.

Segmental Analysis

The segmentation of the exhaust heat recovery system market is carried out on the basis of the component, technology, region, and vehicle. On the basis of component, the exhaust heat recovery system market is segmented into turbine, EGR valve & cooler, condenser, evaporator, TEG module, compressor, and others. Based on technology, the exhaust heat recovery system market is segmented into turbocharger, EGR, ORC, TEG among others. The segmentation of the market based on vehicle comprises of light commercial vehicle (LCV), PC, hybrid, truck, bus and overhead valve engine (OHV). The regions included in the exhaust heat recovery system are Europe, Asia Pacific, the Americas, Africa, and the Middle East.

Detailed Regional Analysis

The regional analysis of the exhaust heat recovery system market globally is segmented into Europe, Asia Pacific, the Americas, Africa, and the Middle East. The Americas region is the leading market in the exhaust heat recovery system market globally. The strict regulations applied by the government along with several environmental organizations to conserve energy is motivating the market in the Americas region. The United States (U.S) has appeared as a major contributor in the North American region that is backed by robust economic development as well as speedy industrialization in the country. The market in the Asia Pacific region is increasing at a rapid rate as a result of the increased rate of industrialization together with the growing significance of sustainable energy in developing markets, chiefly in China and India. Moreover, the flourishing manufacturing sector in the region is expected to profit the exhaust heat recovery system market in the region. Moreover, countries such as Japan, China, Singapore, and Australia are prominent contributors to the market in the region.

Competitive Landscape

The market contenders find themselves in a favorable position with the ability to manage the pace of change. The development of a strong value chain is moreover motivating the expansion of the market. The market trends hint at favorable development of the products that can bring in novelty to the product range and address the customer need better. The market also shows potential for demonstrating a greater comparative or differential value. The presence of a productive entity is expected to generate more sales or superior margins compared to its market rivals. The advent of new technology has boosted the growth potential of the market. Substantial cutbacks in administrative finances are bringing further development to the market.

The prominent competitors in the exhaust heat recovery system market are Faurecia (France), Continental (Germany), Bosal (Belgium), Denso (Japan), Valeo (France), Calsonic Kansei (Japan), Mahle (Germany), Delphi Technologies (UK), Dana (US), Mitsubishi Electric (Japan), Hitachi Ltd. (Japan), Tenneco Inc. (US), Borgwarner Inc. (US)

Industry Updates:

Dec 2018 BorgWarner who is a product leader in technology solutions in a variety of propulsion systems has recently introduced its new offerings such as advanced exhaust heat recovery system (EHRS) among others at a prominent tradeshow.