Exhaust Heat Recovery System Market-Overview:
The developments in stringent emission regulations globally are estimated to motivate the exhaust heat recovery system market 2020. Theautomobile industry reports are produced by Market Research Future, which highlights market options for expansion. The market is set to make USD 54.01 billion in income by 2023.
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The upsurge in demand for diesel vehicles is projected to bolster the exhaust heat recovery system market share considerably in the forecast period. The increased inclination towards the commercial vehicle segment is estimated to bolster the exhaust heat recovery system market stake.
Segmental Analysis
The segmental study of the exhaust heat recovery system market is conducted on the basis of the component, technology, region,and vehicle.Based on the components, the exhaust heat recovery system market is segmented into TEG module, condenser, EGR valve & cooler, turbine, compressor, evaporator, and others. On the basis of technology, the exhaust heat recovery system market is segmented into ORC, EGR, turbocharger TEG among others. Based on the vehicle, the exhaust heat recovery system market is segmented into truck, bus, hybrid, light commercial vehicle (LCV), P.C., and overhead valve engine (OHV). Based on the regions, the exhaust heat recovery system market is segmented into Europe, the Americas, Africa, Asia Pacific, the Middle East, and the Rest of the World (ROW).
Detailed Regional Analysis
The regional investigation of the exhaust heat recovery system market includes regions such as Europe, the Americas, Africa, Asia Pacific, the Middle East, and the Rest of the World (ROW).Among the regions studied, the Americas region is the leading market in the exhaust heat recovery system market. Strict regulations put into practice by the government, along with a variety of environmental organizations to save energy, are inspiring the exhaust heat recovery system market in the Americas. In the region, the nation of the United States (U.S) is a key contributor, supported by well-built economic growth as well as speedy industrialization in the country.The regional market in the Asia Pacific is mounting at the most exceptional rate as a consequence of the elevated industrialization balancing with the mounting significance of sustainable energy in up-and-coming markets, chiefly in China and India. Also, the flourishing manufacturing sector in the region is expected to benefit the exhaust heat recovery system market in the region. Also, the countries of Japan, Australia, China, and Singaporeare well-known contributors to the exhaust heat recovery system market in the region.
Competitive Analysis
The expansion of the market has currently come close to a standstill with government agencies and trade bodies, introducing a stimulus to pick up the pace of development in the global market. Current disequilibrium in the market forces has led to the market players adopting a more cautious approach to growth and development strategies. The planning and forecasting for human capital in the market is estimated to be a crucial area for focus in the years ahead. Advances in production style and technologies are estimated to gain precedence in the coming years as areas of innovation. The support provided by regulations is estimated to stave off the effects of the downturn considerably in the coming period. The recalibration of the supply chain is estimated to be another area for market expansion in the upcoming period. The currency inflow is estimated to be restricted in the upcoming period, which may create further problems for the overall market growth.
Continental (Germany), Tenneco Inc. (U.S.), Denso (Japan), Valeo (France), Dana (U.S.), Mitsubishi Electric (Japan), Delphi Technologies (U.K.), Faurecia (France), Mahle (Germany), Calsonic Kansei (Japan), Hitachi Ltd. (Japan), Bosal (Belgium), Borgwarner Inc. (U.S.) are a few of the illustrious companies competing in the exhaust heat recovery system market.
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Growing Demand for Diesel Commercial Vehicles to Drive Exhaust Heat Recovery System MarketThe global exhaust heat recovery system market is expected to exhibit a strong 10.4% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
The global exhaust heat recovery system market is mainly driven by the growing awareness about the benefits of exhaust heat recovery systems in enhancing engine performance and reducing the carbon emissions from the vehicle.Exhaust heat recovery systems are used to redirect the exhaust heat into the engine in order to improve engine performance.
The use of exhaust heat recovery systems such as turbochargers also eliminates the need for larger engine components, allowing smaller engines to deliver comparable performance figures to larger engines operating without exhaust heat recovery systems.The growing use of turbochargers in passenger cars as well as commercial vehicles is likely to be a major driver for the global exhaust heat recovery system market over the forecast period.
The ability to use smaller engines to extract higher power figures with the help of exhaust heat recovery systems has resulted in a growing demand for exhaust heat recovery systems in passenger vehicles, whereas the benefits of exhaust heat recovery systems in terms of fuel consumption are the major driver for the use of these systems in commercial vehicles.
The increasing use of diesel engines in passenger as well as commercial vehicles is likely to be a major driver for the global exhaust heat recovery system market over the forecast period.Competitive Analysis:Leading players in the global exhaust heat recovery system market include BorgWarner Inc., Tenneco Inc., Bosal, Hitachi Ltd., Mitsubishi Electric, Delphi Technologies, Calsonic Kansei, Dana, Valeo, Denso, Continental, Mahle, and Faurecia.In July 2018, BorgWarner launched a new exhaust heat recovery system for use in hybrid and plug-in hybrid electric vehicles.
The growing demand for hybrid electric cars is likely to be a major driver for the global exhaust heat recovery system market over the forecast period.Segmentation:The global exhaust heat recovery system market is segmented on the basis of component, technology, vehicle type, and region.By component, the global exhaust heat recovery system market is segmented into EGR valve and cooler, compressor, turbine, evaporator, TEG module, condenser, and others.
OverviewThe developments in stringent emission regulations globally are estimated to motivate the Global Exhaust Heat Recovery System Market 2020.
The automobile industry reports are produced by Market Research Future, which highlights market options for expansion.
Based on the components, the exhaust heat recovery system market is segmented into TEG module, condenser, EGR valve & cooler, turbine, compressor, evaporator, and others.
On the basis of technology, the exhaust heat recovery system market is segmented into ORC, EGR, turbocharger TEG among others.
Based on the regions, the exhaust heat recovery system market is segmented into Europe, the Americas, Africa, Asia Pacific, the Middle East, and the Rest of the World (ROW).Detailed Regional Analysis The regional investigation of the Exhaust Heat Recovery System Market Size includes regions such as Europe, the Americas, Africa, Asia Pacific, the Middle East, and the Rest of the World (ROW).
Also, the flourishing manufacturing sector in the region is expected to benefit the exhaust heat recovery system market in the region.
