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Automotive Energy Recovery System Market Trends

Report ID: GMI7004
Published Date: Oct 2023
Report Format: PDF

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Automotive Energy Recovery System Market Trends

The rising adoption of electric & hybrid vehicles is an emerging trend in the automotive energy recovery system industry. These vehicles incorporate regenerative braking systems that recover and store kinetic energy during braking. This recovered energy can be reused to power various vehicle functions, enhancing overall energy efficiency and reducing fuel consumption. As the automotive industry shifts toward electrification to meet sustainability goals, the demand for energy recovery technologies that complement regenerative braking systems will rise, making it a prominent trend in the market.

Innovation in battery technology is a notable trend in the automotive energy recovery system market. These advancements are pivotal in enhancing the efficiency of energy recovery systems. For instance, in July 2023, Toyota announced its aim to develop superior Electric Vehicle (EV) battery technology, boost aerodynamics, and modernize production processes. Toyota is continuing to focus on a hybrid approach despite the pressure from investors and governments for a complete transition to electric cars. This plan comprises Electric Vehicles (EVs), Plug-in Hybrids (PHEVs), Hybrid Electric Vehicles (HEVs), and Fuel Cell Electric Vehicles (FCEVs).

Improved batteries enable more effective storage of the energy recovered during braking and deceleration. As a result, vehicles can access and utilize this stored energy when needed, significantly improving fuel

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive energy recovery system reached USD 21.3 billion in 2022 and is poised to expand at over 10% CAGR from 2023 to 2032, attributed to the increasing focus on low-emission cars and commercial vehicles for reducing emissions and improving fuel efficiency.

The commercial vehicle segment accounted for 45% of the market share in 2022, with businesses increasingly prioritizing fuel efficiency and emissions reduction in their fleets.

Europe market size was valued at USD 9.3 billion in 2022, driven by the stringent emission regulations coupled with government incentives & initiatives for promoting eco-friendly transportation.

Some leading firms engaged in the market are Continental AG, Bosch, ZF Friedrichshafen, Asin Seiki Co. Ltd, Faurecia, Hitachi Automotive Systems, and Mitsubishi.