The exhaust heat recovery system market, in terms of value, is anticipated to reach USD 44,617.48 million by 2027: MRFR

Market Research Future (MRFR) Announces the Publication of its Cooked Research Report — Global Exhaust Heat Recovery System Market 2022–2030.Overview

The exhaust heat recovery system market, in terms of value, is projected to reach USD 44,617.48 million by 2026, registering an 8.1% CAGR during the forecast period 2022 to 2030.

The report covers segmentation and drivers for a better glimpse of the market in the coming years. The global exhaust heat recovery system market has registered significant growth in adoption rates over the past few years due to the stringent government emission regulations and a rising focus on reducing carbon footprints in various countries across the globe.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Exhaust Heat Recovery System MarketResearch Report

Competitive Analysis

The global exhaust heat recovery system market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition and rapid advances in technology are some of the critical factors that could restrain the market growth. The vendors compete based on cost, product quality, reliability, and after market services. It is crucial for vendors to provide cost-effective and efficient products to survive and succeed in a competitive market environment.

The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Continental AG, Delphi Technologies, Denso Corporation, Hella GmbH, Faurecia, and Mahle GmbH are some of the key market players. These companies compete in terms of availability, price,quality, and technology. They consider product launch as a key strategy in the global exhaust heat recovery system market. Although the international players dominate the market, regional and local players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period.

Segmental Analysis

The stringent government emission regulations and a rising focus on reducing carbon footprints in various countries across the globewill spur market growth. The global market for exhaust heat recovery systems has been segmented based on component, vehicle type, and technology.Based on component, the global exhaust heat recovery system market has been segmented into turbine, teg module, compressor, evaporator, EGR valve & cooler, condenser, and others. The turbine segment is expected to grow at the fastest rate during the forecast period. In 2019, the turbine segment held 22.4% of the global exhaust heat recovery systems market.

Based on vehicle type, the global exhaust heat recovery system market has been segmented into passenger car, HCV, and LCV. The HCV segment is expected to grow at the fastest rate during the forecast period. In 2019, the passenger car segment held a 70.4% share of the global exhaust heat recovery systems market.

Based on technology, the global exhaust heat recovery system market has been segmented into exhaust gas recirculation (EGR), thermoelectric generator (TEG), organic rankine cycle (ORC), turbocharger, and others. The others segment is expected to grow at the fastest rate during the forecast period. In 2019, the EGR segment held 35.4% of the global exhaust heat recovery systems market.

Regional Analysis

Based on region, the global exhaust heat recovery system market report has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

China is one of the leading vehicle manufacturers in the world. In addition to this, the country also focuses on reducing vehicle emissions. For instance, China's current nationwide light-duty vehicle emission standard is China 5 (Euro V). In December 2016, the Ministry of Environmental Protection issued the final version of the China 6 standard for gasoline and diesel vehicles. All these factors are boosting the exhaust heat recovery system market in the region.The presence of leading exhaust heat recovery system manufacturers such as Denso Corporation, Mitsubishi Electric, and Calsonic Kansei is boosting the growth of the exhaust heat recovery system in the region. The large automotive industry of the country is also contributing to the growth of the market in Japan. India's automotive industry contributes a considerable amount to the country's GDP. Consumers are becoming increasingly aware of fuel-efficient vehicles and the environmental impact of vehicle emissions. This is consequently boosting the growth of the market for exhaust heat recovery systems in the country.

The continuous focus of the US Government to reduce the carbon footprints is projected to boost the market for exhaust heat recovery systems. According to the US Energy Information Administration, the US CO2 emissions in 2019 were the lowest they have been since 1992. The per capita emissions were lower in 2019 than they have been at any time since 1950. In addition to this, the strict regulations on vehicle emissions are also fueling the market growth in the US.The exhaust heat recovery system market is driven by the focus on reducing greenhouse gas in Canada. For instance, the first mandatory program was introduced in October 2010, when Environment Canada published the Passenger Automobile and Light Truck Greenhouse Gas Emission Regulations. The regulations introduced progressively more stringent annual emission standards for light-duty vehicles of model years 2011–2016, in alignment with those of the US EPA/NHTSA.