PUBLISHER: The Business Research Company | PRODUCT CODE: 1713531
PUBLISHER: The Business Research Company | PRODUCT CODE: 1713531
Automotive energy recovery systems are technologies designed to capture and reuse energy that would otherwise be lost, enhancing vehicle efficiency and reducing fuel consumption. By converting energy from various sources into usable power, these systems help improve overall vehicle efficiency, especially in hybrid and electric vehicles, by optimizing energy utilization and decreasing dependence on external power sources.
The primary subsystems of automotive energy recovery systems include turbochargers, exhaust gas recirculation, and regenerative braking systems. A turbocharger is a device used in internal combustion engines to boost efficiency and power output. Key propulsion systems include internal combustion engines (ICE) and electric propulsion, with technologies such as cameras, fusion technology, light detection and ranging (LiDAR), and radio detection and ranging (Radar) playing critical roles. These technologies are employed across various vehicle types, including passenger cars, light commercial vehicles, and heavy commercial vehicles.
The automotive energy recovery system market research report is one of a series of new reports from The Business Research Company that provides automotive energy recovery system market statistics, including automotive energy recovery system industry global market size, regional shares, competitors with an automotive energy recovery system market share, detailed automotive energy recovery system market segments, market trends and opportunities, and any further data you may need to thrive in the automotive energy recovery system industry. This automotive energy recovery system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive energy recovery system market size has grown strongly in recent years. It will grow from $21.99 billion in 2024 to $24.15 billion in 2025 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increasing urban mobility solutions, a rise in smart city initiatives, a rise in electrified heavy-duty vehicles, a growth in electric vehicle charging infrastructure, and a rise in advanced driver assistance systems.
The automotive energy recovery system market size is expected to see strong growth in the next few years. It will grow to $34.86 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to rising fuel prices, increasing vehicle production, growing emphasis on reducing carbon footprints, rising concerns about climate change, and growing demand for electric vehicles. Major trends in the forecast period include technological advancements, hybrid energy storage systems, smart energy management systems, wireless energy transfer, and integration with smart grids.
The increasing demand for electric and hybrid vehicles is expected to drive the growth of the automotive energy recovery system market in the future. Electric vehicles (EVs), which operate solely on electricity stored in batteries, and hybrid vehicles, which combine an internal combustion engine with electric motors, are both benefiting from advancements in battery technology, heightened environmental awareness, government incentives, and the growing need for fuel-efficient, low-emission transportation options. Automotive energy recovery systems in these vehicles capture and reuse energy from braking and other processes to improve efficiency, extend range, and reduce overall energy consumption. For example, in March 2023, the International Energy Agency reported that electric car sales surged to over 10 million in 2022, making up about 14% of all new car sales, up from over 9% in 2021. This growing demand for electric and hybrid vehicles is fueling the expansion of the automotive energy recovery system market.
Key companies in the automotive energy recovery system market are focused on developing innovative solutions, such as systems that utilize heat generated by batteries, power electronics, and other drive components to enhance the efficiency, performance, and range of electric vehicles. One example is a thermal management system or waste heat recovery system (WHRS) designed specifically for electric and hybrid vehicles, which captures and repurposes heat produced by various components to improve overall vehicle efficiency. In April 2022, General Motors introduced an advanced energy recovery system for its Ultium electric vehicle platform. This system features advanced regenerative braking technology that captures and converts kinetic energy into electrical power during braking, extending the vehicle's range. Additionally, it includes a sophisticated thermal management system that optimizes battery performance by effectively managing and dissipating heat generated during energy recovery, and integrates seamlessly with GM's energy management strategy to balance power distribution between the electric motor and regenerative braking.
In November 2022, Cummins Inc. acquired the commercial vehicles business from Siemens for an undisclosed amount. This acquisition is aimed at enhancing Cummins' electrification capabilities and expanding its portfolio in advanced powertrain technologies for the commercial vehicle sector. Siemens AG, based in Germany, manufactures automotive energy recovery system products.
Major companies operating in the automotive energy recovery system market are Toyota Motor Corporation, General Motors Company, BMW Group, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Nissan Motor Co. Ltd., Audi AG, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Precision & Industries Corporation, Magna International Inc., Mitsubishi Electric Corporation, Honeywell International Inc., Aisin Seiki Co. Ltd., Cummins Inc., Valeo SA, Schaeffler AG, Parker Hannifin Corporation, BorgWarner Inc., GKN Automotive Ltd., Delphi Technologies Inc
Asia-Pacific was the largest region in the automotive energy recovery system market in 2023. The regions covered in the automotive energy recovery system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive energy recovery system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive energy recovery systems market consists of sales of flywheel energy storage systems, auxiliary power units (APUs), and hydraulic energy recovery systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Energy Recovery System Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive energy recovery system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive energy recovery system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive energy recovery system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.