Exhaust Heat Recovery System Market Scope
An exhaust heat recovery system transforms squander heat energy in exhaust gases into electric energy for batteries or mechanical energy once again introduced on the driving rod. As car and heavy-duty vehicle manufacturers continue to improve efficiency, fuel savings, and emission reduction, the technology is attracting more and more attention. The global exhaust heat recovery system market is increasing in demand for engine performance and fuel efficiency and engine downsizing to reduce vehicle weight. Nonetheless, the ascent sought after for battery electric vehicles and establishment issues with exhaust heat recuperation frameworks are supposed to ruin the development of the worldwide market during the conjecture time frame. Besides, the flood sought after for turbochargers and expansion in vehicle creation in emerging nations is projected to set out freedom for the market in the not-so-distant future.
|Unit||Value (USD Million)|
|Key Companies Profiled||Delphi Technologies (United Kingdom), Valeo Service (India), Denso (Japan), Faurecia (France), Mahle (Germany), Rheinmetall Automotive (Germany), Mitsubishi Electric (Japan), Calsonic Kansai (Japan), Continental AG (Germany) and Borgwarner (United States)|
Exhaust Heat Recovery System is a fragmented market due to the presence of the large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Delphi Technologies (United Kingdom), Valeo Service (India), Denso (Japan), Faurecia (France), Mahle (Germany), Rheinmetall Automotive (Germany), Mitsubishi Electric (Japan), Calsonic Kansai (Japan), Continental AG (Germany) and Borgwarner (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Siemens AG (Germany), General Electric (United States), ABB (Switzerland) and Promec Engineering (Italy).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Exhaust Heat Recovery System market by Type , by Application (Cars, Trucks, Buses and Others) and Region with country level break-up.
On the basis of geography, the market of Exhaust Heat Recovery System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn March 2022, Desmet, a subsidiary of the Desmet Ballestra Group and a world leader in engineering and supplying processing plants and technologies for the edible oils and biofuel sectors, was acquired by Alfa Laval. Alfa Laval's position in the field of renewable energy will be bolstered by the acquisition, as will the edible oils it offers.
In March 2022, Alfa Laval introduced the E-PowerPack squander heat recuperation framework for ships. The E-PowerPack makes use of Organic Rankine Cycle (ORC) technology to reduce ship fuel consumption and CO2 emissions by directly converting waste heat into electrical power.
Influencing Trend:Increasing the use of systems for recovering heat from exhaust in manufacturing processes
Market Growth Drivers:EHR system expansion due to rising demand for diesel vehicles, particularly in the commercial vehicle market
Challenges:Future technologies like TEG and ORC lack commercialization, efficiency, and cost-effectiveness.
Restraints:Moving pattern toward electric propulsion in light-duty vehicles in developed countries
Opportunities:Growing adaptation of EGR and turbochargers in fuel vehicles will support the market for the EHRS framework
Key Target AudienceManufacturers/Suppliers, Market Research Organizations, Potential Investors, Customers, End User and Others