PUBLISHER: Global Insight Services | PRODUCT CODE: 1598350
PUBLISHER: Global Insight Services | PRODUCT CODE: 1598350
The global kinetic energy recovery systems market is anticipated to expand from $3.9 billion in 2023 to $8.5 billion by 2033, with a CAGR of 7.6%.
The Kinetic Energy Recovery Systems (KERS) market pertains to the sector dedicated to technologies that capture and store energy typically lost during braking, converting it into usable power to enhance vehicle efficiency. This market encompasses mechanical and electrical systems, including flywheel and battery solutions, utilized predominantly in automotive and motorsport applications to improve fuel economy and performance, thereby supporting sustainable transportation initiatives.
Kinetic Energy Recovery Systems (KERS) are witnessing robust growth, primarily driven by the automotive industry's focus on energy efficiency and sustainability. The automotive segment, particularly in hybrid and electric vehicles, leads the market due to its potential to enhance fuel efficiency and reduce emissions. Motorsport applications, notably in Formula 1, represent the second-highest performing sub-segment, underscoring the technology's capability to improve performance and energy recovery. Regionally, Europe dominates the market, propelled by stringent emission regulations and a strong automotive manufacturing base. The Asia-Pacific region emerges as the second-highest performer, fueled by rapid industrialization, increasing vehicle production, and supportive government initiatives for green technologies. Countries like Germany and Japan are at the forefront, leveraging advanced technological capabilities and significant investments in research and development. This trend reflects a broader shift towards sustainable energy solutions and highlights lucrative opportunities for stakeholders in the KERS market.
Key Companies
GKN Automotive, Torotrak, Punch Powertrain, Flybrid Automotive, Ricardo, Skeleton Technologies, A123 Systems, Williams Advanced Engineering, Maxwell Technologies, Efficient Drivetrains, YASA Motors, Odyne Systems, Protean Electric, Magna International, Borg Warner, AVL List, Hyperdrive Innovation, Vayon Group, VIA Motors, HEVO Power
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