Luton, Bedfordshire, United Kingdom, March 15, 2023 (GLOBE NEWSWIRE) --
Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Exhaust Heat Recovery (EHR) System Market.
Global Automotive Exhaust Heat Recovery (EHR) System Market is expected to grow at 10.4% CAGR From 2023 to 2029. It is Expected to reach above USD 93.44 Billion by 2029 from USD 39.63 Billion in 2022.
Automotive Exhaust Heat Recovery (EHR) System Market Growth in upcoming years
The market for Automotive Exhaust Heat Recovery (EHR) systems is anticipated to expand rapidly over the next few years as a result of tightening pollution and fuel economy standards as well as rising environmental consciousness. The growing popularity of hybrid and electric vehicles, which rely on EHR systems to boost the performance of their internal combustion engines and increase the range of their electric powertrains, is another factor driving the industry.
The high cost of technology and lack of awareness amongst potential consumers are the main restraining factors harming the Automotive Exhaust Heat Recovery (EHR) System Market. The high initial cost of the technology is one of the major barriers to the market for automobile exhaust heat recovery (EHR) systems. The system’s price may be relatively pricey when compared to conventional exhaust systems, which may prevent widespread use. The price of installing these systems might also be increased by complicated installation and maintenance procedures. The lack of knowledge among consumers and automakers about the advantages of EHR systems is another market restraint.
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Growth Drivers
Additionally, the EHR market may face difficulties due to the advent of alternative technologies like hybrid and electric automobiles. The demand for traditional combustion engine vehicles may decline as the popularity of electric and hybrid vehicles rises, which would also result in a decline in the need for EHR systems.
Increasing fuel efficiency standards: To cut greenhouse gas emissions, governments all over the world are establishing higher fuel efficiency requirements for automobiles. By recovering waste heat from the exhaust and using it to power auxiliary systems, EHR systems can assist automakers in meeting these requirements by lowering the burden on the engine.
Growing demand for electric vehicles: Electric car adoption is increasing, but these vehicles still need energy to run auxiliary systems like heating and cooling. EHR systems can lessen battery load and increase total electric car efficiency.
Rising fuel prices: There is a rising desire for more fuel-efficient vehicles as fuel costs continue to rise. By reclaiming waste heat from the exhaust and using it to power auxiliary systems, EHR systems can assist manufacturers in meeting this demand.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Automotive Exhaust Heat Recovery (EHR) System Market
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Trends
- Increased use of touchless interfaces
- Use of advanced materials
- Use of waste heat for different applications
- Increasing focus on commercial vehicles
- Growth of the aftermarket segment
Competitive Insight
Some of the notable market players operating in the global Automotive Exhaust Heat Recovery (EHR) System Market covered in this report are:
- Borgwarner Inc.
- Continental Ag
- Denso Corporation
- Eberspächer Group
- Hanon Systems
- Mahle Gmbh
- Valeo S.A.
- Robert Bosch Gmbh
- Tenneco Inc.
- Faurecia S.A *The Company List Is Indicative
Recent Developments
In August 2021, BorgWarner announced that it had developed an innovative EHR system for hybrid electric vehicles that can recover up to 10% of the waste heat from the exhaust system. The new system is designed to improve fuel efficiency and reduce emissions in hybrid vehicles.
In June 2021, Faurecia announced that it had entered into a strategic partnership with Wuling Industry to develop and produce EHR systems for the Chinese market. The partnership will leverage Faurecia’s expertise in EHR systems and Wuling’s strong market presence in China.
In May 2021, Continental AG announced that it had developed a new EHR system for diesel engines that can recover up to 5% of the waste heat from the exhaust system. The new system is designed to improve fuel efficiency and reduce emissions in diesel vehicles.
Browse the full “Automotive Exhaust Heat Recovery (EHR) System Market by Technology (EGR, Turbocharger, Orc, And Teg), By Component (EGR Valve, EGR Cooler, Turbine, Compressor, Evaporator, Condenser, Expander, Pump, Thermoelectric Module, Heat Exchanger), By Vehicle Type (LCVs And HCVs), By Application (Cabin Heating, Engine Cooling, And Power Generation) And Region, Global Trends And Forecast From 2023 To 2029” Report and TOC at https://exactitudeconsultancy.com/reports/13039/automotive-exhaust-heat-recovery-ehr-system-market/#market-players
Segment Overview
The Automotive Exhaust Heat Recovery (EHR) System market is segmented By Technology, By Component, and by Vehicle Type.
| By Technology | By Component | by Vehicle Type |
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Regional Insights
North America: Due to the region's stringent emission laws and rising demand for fuel-efficient vehicles, the North American market for EHR systems is anticipated to expand. Due to significant investments made in EHR technology by big automakers, the United States is predicted to dominate the market in this area.
Asia Pacific: The market for EHR systems is anticipated to expand at the fastest rate in the Asia-Pacific region as a result of the region's rising interest in fuel-efficient cars. As a result of their significant automotive industries and government incentives for the creation of fuel-efficient vehicles, China and Japan are anticipated to be the two biggest markets in this area.
Middle East & Africa: The demand for fuel-efficient vehicles and the emphasis on lowering emissions are anticipated to drive growth in the Middle East and Africa region's EHR system market. The biggest markets in this area are predicted to be Saudi Arabia and the United Arab Emirates.
Reasons to Purchase the Automotive Exhaust Heat Recovery (EHR) System Market Report:
- The report contains a wealth of data, including market dynamics and opportunities over the forecast term.
- Quantitative, qualitative, value (in USD million), and volume (in units million) statistics are among the segments and sub-segments.
- Data at the regional, sub-regional, and national levels also contains information on the market's supply and demand dynamics.
- The competitive environment includes the proportions of important actors, recent innovations, and strategies.
- Companies with extensive product offerings, pertinent financial data, current developments, SWOT analyses, and player strategies.
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/13039/automotive-exhaust-heat-recovery-ehr-system-market/#request-a-sample
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