The Global Exhaust Heat Recovery System Market was worth US$ 45.02 billion in 2022 and is anticipated to reach a valuation of US$ 80.62 billion by 2028 and is predicted to register a CAGR of 10.46% during 2023-2028.

The output of this technique is either transferred to the revolving shaft or electrical energy that is held on during a battery. The use of this technique could be a unique way to increase fuel efficiency and reduce pollution at the same time; as a result, vehicle manufacturers are very interested in the analysis and development of this technique. Either a conventional vehicle or a hybrid vehicle uses the exhaust heat recovery system. The inability to apply this procedure on electric vehicles is due to the fact that they don't produce exhaust emissions.

Market Drivers and Restraints:

A major issue that could increase interest in exhaust heat recovery systems is the tightening of emission regulations pertaining to on-road as well as cross-country vehicles. This issue is anticipated to have a significant impact on the growth of the global exhaust heat recovery system market. Additionally, the utilization of exhaust heat for auxiliary purposes such as HVAC (heating, ventilation, air conditioning), and oil cooling will create growth prospects for manufacturers in the global market.

Additionally, the shifting preference for electric propulsion in automobiles among industrialized nations may be a significant problem that would likely impede the expansion of the global market throughout the forecasted time.

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The report is segmented as follows:

The Exhaust Heat Recovery System Market is segmented by Component; the Market is segmented by Technology; the Market is segmented by Vehicle:

By Component (EGR Valve & Cooler, Turbine, Compressor, Evaporator, Condenser, TEG Module, Others)

By Technology (EGR, Turbocharger, ORC, TEG, Others)

By Vehicle (PC, LCV, Truck, Bus, Hybrid, OHV)

Market Regional Segmentation:

Within the global exhaust heat recovery system market, the Americas currently hold a dominant position. The market in the Americas is being driven by strict regulations that are being implemented by the government and several environmental organizations in order to conserve a lot of energy. The United States may play a significant role within the region, supported by powerful economic processes as well as a quick-growing industrial sector domestically. Over the next ten years, it is anticipated that the market in Europe would increase in terms of revenue somewhat more quickly. This expansion may be ascribed to the region's successful implementation of ever-tighter regulations governing automobile emissions, which have increased demand for exhaust heat recovery systems. The Europe market, which currently has the second-highest revenue share in the global market, is anticipated to grow at a CAGR throughout the forecasting phase. In comparison to its markets in alternative regions, the Asia Pacific market is calculable to account for the highest revenue share within the target market. This is because original equipment manufacturers are increasingly producing exhaust heat recovery systems for gas cars in order to meet the region's impending strict emission regulations.

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Impact of COVID-19 pandemic on the market:

The market for exhaust heat recovery systems is rapidly regaining its pre-COVID levels, and over the projected period, a robust growth rate is anticipated, led by the economic recovery in most emerging countries. The high contagiousness of the virus and the frequent suspension of public transportation systems drove the need for passenger automobiles, which in turn drove demand for items with exhaust heat recovery systems.

A bleak outlook is being created by exceptional circumstances brought on by the anticipated third and subsequent waves of the pandemic. The goal of this study is to assess the potential effects of various COVID-19 scenarios on the market for exhaust heat recovery systems between 2021 and 2030.

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