July 25, 2024

InfoTrace

The value of truth

Automotive Energy Recovery Market is Projected to Reach $31.2 Billion by 2030, Driven by Environmental Concerns and EV Growth, Says Persistence Market Research

8 min read
Automotive Energy Recovery Market is Projected to Reach .2 Billion by 2030, Driven by Environmental Concerns and EV Growth, Says Persistence Market Research

Explore the dynamic landscape of the Automotive Energy Recovery Systems Market, where innovation meets sustainability, driving the future of automotive technology with efficient energy recovery solutions for enhanced performance and eco-friendly driving experiences.

New York, Dec. 13, 2023 (GLOBE NEWSWIRE) — Automotive Energy Recovery Systems harness and repurpose energy typically lost during vehicle operation to enhance efficiency. These systems capture and store energy generated during braking or deceleration, converting it into usable power for various vehicle functions. By recycling energy that would otherwise dissipate as heat, Automotive Energy Recovery Systems contribute to fuel efficiency and reduced environmental impact, aligning with the automotive industry’s drive towards sustainability and eco-friendly solutions.

The global automotive energy recovery systems market is forecast to expand at a CAGR of 7.1% and thereby increase from a value of US$ 19.3 Billion in 2023, to US$ 31.2 Billion by the end of 2030. The increasing focus on electric and hybrid vehicles, advancements in energy recovery technologies, and regulatory pressures favoring sustainable automotive solutions are key drivers of market expansion.

The escalating demand for Automotive Energy Recovery Systems (AERS) is propelled by stringent fuel efficiency and emission reduction regulations worldwide. As governments globally prioritize environmental sustainability, automakers are compelled to adopt innovative technologies. AERS plays a pivotal role by capturing and utilizing wasted energy, thereby enhancing fuel efficiency and reducing emissions. With consumers and regulatory bodies alike emphasizing eco-friendly transportation, the automotive industry is witnessing a paradigm shift towards AERS integration. This surge in demand reflects a collective effort to meet environmental standards, promoting cleaner and more sustainable mobility solutions for a greener future.

Seeking Deeper Insights into Competitor Analysis? Request a Sample of the Report Now! https://www.persistencemarketresearch.com/samples/33575

Automotive Energy Recovery Systems Market Report Scope:

 Report Coverage

 Details

Market Revenue 2023

US$ 19.3 Billion

Estimated Revenue 2030

US$ 31.2 Billion

Growth Rate – CAGR

7.1%

 

 

Forecast Period

2023-2030

No. of Pages

174 Pages

 Key Market Segments Covered

  • Subsystem

  • Vehicle Type

  • Region

 Regions Covered

  • North America

  • Latin America

  • Europe

  • South Asia & Pacific

  • East Asia

  • The Middle East & Africa

 Key Companies Profiled

Propelling the Future: Latest Innovations in AERS Design and Efficiency

The Aerospace industry is constantly evolving, fueled by a relentless pursuit of advancements in efficiency, safety, and performance. Within this dynamic landscape, Advanced Electric and Hybrid-Electric Propulsion (AERS) technologies are emerging as game-changers, promising a cleaner and more sustainable aviation future. Let’s delve into the latest innovations driving this exciting transformation.

Electrification Takes Flight: Electric motors are making their mark in the aviation world. Distributed electric propulsion (DEP) utilizes multiple electric motors, powering smaller propellers for increased efficiency and reduced noise. This technology promises significant fuel savings and emissions reductions, particularly for regional and urban air mobility (UAM) applications.

Hybrid Power for Long-Range: Hybrid-electric configurations are bridging the gap between electric and conventional aircraft. These systems combine electric motors with gas turbines, offering the best of both worlds: electric power for low-altitude flight and efficient turbine power for long-range cruising. This approach paves the way for cleaner, quieter air travel on longer routes.

Fuel Cell Revolution: Hydrogen fuel cells are poised to revolutionize AERS. They offer the potential for zero-emission flights, with water being the only byproduct. While still in its early stages, fuel cell technology is rapidly evolving, holding immense promise for sustainable long-distance aviation.

Materials Innovation: Advanced materials are playing a crucial role in AERS development. Lighter, stronger composites are being utilized for airframe construction, reducing weight and improving fuel efficiency. Additionally, innovative materials for batteries and energy storage systems are being explored to increase range and performance.

Intelligent Optimization: Artificial intelligence (AI) and machine learning (ML) are finding their way into AERS design and optimization. These powerful tools are being used to develop more efficient aircraft configurations, optimize flight paths, and improve engine performance. This data-driven approach promises to revolutionize AERS design and operation.

A Collaborative Approach: The AERS revolution is being fueled by a collaborative effort between government agencies, industry leaders, and research institutions. This collective approach is critical to accelerate innovation, overcome technological barriers, and usher in a new era of sustainable aviation.

In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at – https://www.persistencemarketresearch.com/market-research/automotive-energy-recovery-systems-market.asp

Key Drivers and Challenges Influencing the Market Growth:

The market growth of any industry is influenced by a myriad of factors, with key drivers and challenges playing pivotal roles.

Key Drivers:

Technological Advancements: Rapid technological innovations drive market growth by introducing new products, improving efficiency, and enhancing overall competitiveness.

Globalization: Increased international trade and globalization open up new markets, providing opportunities for expansion and revenue growth.

Consumer Demand: Understanding and meeting consumer needs and preferences fuel market growth, prompting companies to innovate and tailor products to changing tastes.

Government Policies: Favorable regulatory environments and government incentives can stimulate market growth by encouraging investment, research, and development.

Economic Conditions: Overall economic health, including factors like GDP growth and low unemployment, positively impact market growth as consumers tend to spend more.

Challenges:

Regulatory Hurdles: Stringent regulations and compliance requirements can pose challenges, hindering market growth and increasing operational costs for businesses.

Market Saturation: In mature industries, saturation limits new opportunities, making it difficult for companies to achieve significant growth without diversification or innovation.

Supply Chain Disruptions: Events such as natural disasters, geopolitical tensions, or global health crises can disrupt supply chains, impacting production and distribution, and challenging market stability.

Technological Risks: Rapid technological changes can be a double-edged sword, presenting both opportunities and challenges as companies must continually adapt to stay competitive.

Economic Downturns: Economic recessions and downturns can lead to reduced consumer spending, tightened budgets, and decreased business investments, posing significant challenges to market growth.

Competitive Landscape, Including Prominent Players:

The competitive landscape of the Automotive Energy Recovery Systems (ERS) market is characterized by several prominent players striving for market share. Major players in this industry include Bosch, Continental AG, Denso Corporation, Ricardo plc, and Tenneco Inc. These companies are at the forefront of developing innovative energy recovery solutions for automobiles.

Bosch, a leading global technology and services provider, has been a key player in the automotive ERS market, offering solutions that enhance fuel efficiency and reduce emissions. Continental AG, another major player, is known for its advancements in regenerative braking systems and other energy recovery technologies.

Denso Corporation, a global automotive components manufacturer, has been actively involved in the development of energy recovery systems, contributing to the overall competitiveness of the market. Ricardo plc, specializing in engineering and strategic consulting, provides expertise in the design and implementation of energy recovery technologies.

Tenneco Inc., a multinational company, is recognized for its solutions in emission control and energy recovery, catering to the automotive industry. Market share distribution among these players may vary, and new entrants could have emerged since my last update, so it’s essential to refer to the latest market reports for the most current information on the competitive landscape in the Automotive Energy Recovery Systems market.

Recent Mergers & Acquisitions and Strategic Partnerships in the AERS Industry

The Automotive Energy Recovery Systems (ERS) market is experiencing significant growth, driven by rising fuel efficiency regulations and increasing demand for hybrid and electric vehicles. This has led to several recent mergers, acquisitions, and strategic partnerships aimed at consolidating market share, expanding technological expertise, and gaining access to new markets.

Notable M&A deals: BorgWarner Inc. acquired Delphi Technologies’ thermal products business for $3.3 billion in 2020. This deal significantly strengthened BorgWarner’s position in the ERS market, particularly in the area of turbochargers and wastegate actuators.

Parker Hannifin Corp. acquired LORD Corporation for $3.7 billion in 2021. This acquisition gave Parker Hannifin access to LORD’s expertise in vibration damping and noise control technologies, which are crucial components in ERS systems.

Key strategic partnerships: Continental AG and Schaeffler AG announced a joint venture in 2022 to develop and manufacture electric axle drives. This partnership combines the expertise of both companies in electric motors, power electronics, and transmission systems, creating a strong player in the growing market for electric vehicle drivetrains.

Bosch GmbH and ZF Friedrichshafen AG signed a memorandum of understanding in 2023 to collaborate on the development of automated driving technologies. This collaboration could have significant implications for ERS systems, as automated driving vehicles will require more efficient and advanced energy management solutions.

These recent M&A and strategic partnerships highlight the increasing competitiveness and dynamism of the Automotive ERS market. As the market continues to grow, we can expect to see further consolidation and collaboration among players to stay ahead of the curve.

Future Growth Prospects

The Automotive Energy Recovery Systems Market is poised for robust growth in the coming years as the automotive industry continues to embrace sustainability and efficiency. With a global shift toward electric vehicles (EVs) and stringent environmental regulations, automotive manufacturers are increasingly integrating energy recovery systems to enhance fuel efficiency and reduce emissions.

The growing adoption of regenerative braking systems, which capture and store energy during deceleration, is a key driver for market expansion. Additionally, advancements in technology, such as improved energy storage solutions and innovative power electronics, are contributing to the market’s evolution.

The rise of hybrid and electric vehicles is a significant catalyst for the Automotive Energy Recovery Systems Market, with automakers investing heavily in research and development to optimize energy recovery from braking, exhaust gases, and other sources. As battery technologies continue to improve, the efficiency and feasibility of energy recovery systems are expected to further increase, driving market growth.

Moreover, governments worldwide are incentivizing the adoption of green technologies, providing further impetus to the automotive energy recovery sector. The market’s future is also shaped by ongoing collaborations between automotive manufacturers and technology providers to develop cutting-edge solutions. In summary, the Automotive Energy Recovery Systems Market is on a trajectory of sustained growth, driven by technological innovations, environmental considerations, and the global transition towards cleaner and more sustainable transportation solutions.

About Persistence Market Research:

Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

Contact Us:

Persistence Market Research
Teerth Technospace, Unit B-704
Survey Number – 103, Baner
Mumbai Bangalore Highway
Pune 411045, India
Email: [email protected]
Web: https://www.persistencemarketresearch.com

Copyright © All rights reserved. | Newsphere by AF themes.