The Global Automotive Energy Recovery Systems Market was worth US$ 27.04 billion in 2022 and is anticipated to reach a valuation of US$ 38.65 billion by 2028 and is predicted to register a CAGR of 7.40% during 2023-2028.

To improve the efficiency of the engine by recycling the exhaust, for instance, or to power the engine or batteries in a vehicle. Utilizing wasted energy enhances a vehicle's overall performance and lowers greenhouse gas emissions. Regenerative braking is a common feature in electric vehicles, but turbochargers and exhaust recirculation are more common in diesel and gasoline-powered vehicles

Market Drivers and Restraints:

Fuel costs have increased by 4% to 9% annually on average during the past five to ten years. OEMs use an effective fuel efficiency ratio to market their goods. In general, consumer preferences are shifting, and today's drivers favor more efficient, fuel-efficient cars. As a result, the market for automobile energy recovery systems is expanding. Governments in many nations, including those in the United States and Canada, have implemented stringent emission restrictions, which is also increasing demand for car energy recovery systems.

Automotive energy recovery technologies are currently underutilized in emerging economies, which is inhibiting industry expansion. The worldwide automotive energy recovery market's growth is further constrained by the high cost of automotive energy recovery systems.

Because of the operational advantages they offer to the customer and the vehicle, energy recovery systems for motor vehicles are becoming more popular. Due to stringent emission standards and the rising popularity of electric vehicles in China, Japan, and South Korea, the Asia-Pacific region represents the market for more lucrative energy recovery systems for automobiles. Market expansion has also been aided by increased public investment in EVSE infrastructure and electric utility vehicles like buses and trucks.

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By Product Type (Regenerative Braking System, Turbocharger, Exhaust Gas Recirculation)

By Vehicle Type (Two-Wheeler, Passenger Cars, Commercial Vehicles)

Market Regional Segmentation:

The compound annual growth rate (CAGR) for the market for automotive energy recovery systems is anticipated to be in the single digits during the forecast period. The motor vehicle energy recovery market in Europe and North America is anticipated to have a sizable CAGR over the forecast period in terms of market revenues. The factors propelling the growth of the energy recovery market for motor vehicles in North America and Europe include slow but steady economic growth, the expanding automotive industry, stringent government emission regulations, shifting consumer preferences, relatively high knowledge of automotive energy recovery systems, and innovative and cutting-edge technologies. Over the projected period, both regions are anticipated to increase at a single-digit rate.

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Impact of COVID-19 pandemic on the market:

Every market is affected by the COVID-19 situation, including the car industry. The market for automotive energy recovery systems has been indirectly impacted by the closure of assembly plants and widespread interruptions in manufacturing as a result of the fall in worldwide demand for automobiles. Additionally, authorities in several areas declared a complete lockdown and the temporary shutdown of industry, which resulted in border closures that hampered the flow of transportation and logistics services.

However, as a result of rising sales of electric vehicles due to high gasoline prices, which has increased demand for the automotive energy recovery system industry, market participants' overall service activities have seen a steady and beneficial recovery in the months thereafter. According to the current situation, the world is slowly returning to normal. With the new restrictions and policies, a significant rebound in retail product sales could favourably impact the automotive energy recovery system industry due to recent advancements in vehicle performance technology.

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