Asia-Pacific Exhaust Heat Recovery System Market, By Technology (Conventional, Upcoming Technology), Vehicle Type (Passenger Vehicle, Commercial Vehicle, Hybrid Vehicle), Energy Source (Fuel, Electric), Sales Channel (OEM, Aftermarket), Mode (Exhaust Gas Recirculation, Turbocharger, Organic Rankine Cycle, Thermoelectric Generator), Components (EGR Component, Turbocharger Component, Organic Rankine Cycle Component, Thermoelectric Generator Component) - Industry trends and forecast to 2030.
Asia-Pacific Exhaust Heat Recovery System Market Analysis and Size
The exhaust heat recovery system market is undergoing unheard-of changes due to technological advancements, rapid industrialization, and increasing urbanization. Vehicles are rapidly evolving, and with downsizing and weight reduction, smaller combustion engines are being preferred to larger ones with the same power capacity. Demand and deployment of smaller components, such as the exhaust heat recovery system, are gaining importance.
Data Bridge Market Research analyses that the exhaust heat recovery system market, valued at USD 18,993.22 million in 2022, will reach USD 33,373.08 million by 2030, growing at a CAGR of 7.30% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Asia-Pacific Exhaust Heat Recovery System Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Technology (Conventional, Upcoming Technology), Vehicle Type (Passenger Vehicle, Commercial Vehicle, Hybrid Vehicles), Energy Source (Fuel, Electric), Sales Channel (OEM, Aftermarket), Mode (Exhaust Gas Recirculation, Turbocharger, Organic Rankine Cycle, Thermoelectric Generator), Components (EGR Component, Turbocharger Component, Organic Rankine Cycle Component, Thermoelectric Generator Component)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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FORVIA Faurecia (France), MAHLE GmbH (Germany), Continental AG (Germany), Dana Limited. (U.S.), DENSO CORPORATION (Japan), Marelli Holdings Co., Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi, Ltd. (Japan), BOSAL (Belgium), Tenneco Inc. (U.S.), Rheinmetall AG (Germany)
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Market Opportunities
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Market Definition
An exhaust heat recovery system is a piece of equipment that recycles exhaust gases to increase engine efficiency and provide power to the engine. The wasted energy enhances the vehicle's overall performance and reduces greenhouse gas emissions. Many different parts, including turbochargers and exhaust gas recirculation systems, are used in an exhaust heat recovery system.
Exhaust Heat Recovery System Market Dynamics
Drivers
- Growing demand for fuel economy and engine performance
Government initiatives to increase vehicle fuel efficiency have forced automakers to incorporate cutting-edge technology to lighten and improve the efficiency of their vehicles. The engine determines a vehicle's performance. As a result, automakers are pressured to create effective engines that simultaneously meet both requirements and deliver enhanced performance and fuel efficiency. To meet the corporate average fuel economy, exhaust heat recovery technologies, such as turbochargers and exhaust gas recirculation systems (EGR), are specifically designed to increase fuel efficiency. In particular, turbochargers operate without a power source and perform best at high engine speeds. Therefore, improved engine efficiency and performance are the main factors propelling the growth of the global exhaust heat recovery system market.
- Downsizing the engine to lighten the vehicle
Engine downsizing is used in the automotive industry to produce vehicles by choosing smaller combustion engines over larger ones with the same power capacity. It results from automakers' efforts to provide cleaner-burning, more efficient vehicles frequently mandated by laws. The amount of engine friction is decreased by lowering the number of cylinders. With the help of exhaust heat recovery system innovations, total engine size has decreased while power output has remained or even increased. Moreover, the continued demand for vehicle manufacturers to comply with environmental emission regulations is a major factor in the growth of exhaust heat recovery system technology.
Opportunities
- The growing interest in turbochargers
The exhaust heat recovery systems market has significant growth potential due to the rising use of turbochargers in gasoline engines. A turbocharger is used to compress more air before it enters the engine cylinder. The air that turbochargers use comes from the vehicle's exhaust system. Contrary to their counterparts with gasoline engines, nearly all modern diesel-powered cars are equipped with turbocharger technology. The turbochargers market is expanding because of consumer demand for better vehicle performance and rising fuel efficiency standards. The lightweight alloy is used to create turbochargers, which further reduce fuel consumption. As a result, the market for exhaust heat recovery system technology is anticipated to expand.
Restraints/Challenges
- The growing interest in battery-powered automobiles
With issues such as climate change and efforts to achieve net zero emissions, the market for electric vehicles is expanding exponentially. The demand for electric vehicles has increased along with awareness of climate change, which has led to increased production of these vehicles. Furthermore, the development of the EV industry is aided by the favorable incentives and policies that governments of various nations have implemented to promote electric vehicles. The exhaust heat recovery systems market is being hampered by the production and sales of electric vehicles, which emit no emissions and don't need an exhaust system.
This exhaust heat recovery system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the exhaust heat recovery system market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Exhaust Heat Recovery System Market Scope
The exhaust heat recovery system market is segmented based on technology, vehicle type, energy sources, sales channel, mode, and components. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Conventional
- Upcoming Technology
Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Light Commercial Vehicle
- High way vehicle
- Construction Equipment's
- Agriculture tractors
- Heavy commercial vehicles
- Truck
- Buses
- Hybrid Vehicle
- HEVs
- PHEVs
Energy Source
- Fuel
- Electric
Sales Channel
- OEM
- Aftermarket
Mode
- Exhaust Gas Recirculation
- Turbocharger
- Organic Rankine Cycle
- Thermoelectric Generator
Components
- Exhaust Gas Recirculation (EGR) Component
- Turbocharger Component
- Organic Rankine Cycle Component
- Thermoelectric Generator Component
Exhaust Heat Recovery System Market Regional Analysis/Insights
The exhaust heat recovery system market is analysed and market size insights and trends are provided by technology, vehicle type, energy sources, sales channel, mode, and components as referenced above.
The countries covered in the exhaust heat recovery system market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
As a result of the increasing demand for exhaust heat recovery, China dominates the Asia-Pacific region. China has the highest no. of vehicles among the countries in the Asian region. Further, India will show the highest growth in the registered forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Exhaust Heat Recovery System Market Share Analysis
The exhaust heat recovery system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the exhaust heat recovery system market.
Some of the major players operating in the exhaust heat recovery system market are:
- FORVIA Faurecia (France)
- MAHLE GmbH (Germany)
- Continental AG (Germany)
- Dana Limited. (U.S.)
- DENSO CORPORATION (Japan)
- Marelli Holdings Co., Ltd. (Japan)
- Mitsubishi Electric Corporation (Japan)
- Hitachi, Ltd (Japan)
- BOSAL (Belgium)
- Tenneco Inc. (U.S.)
- Rheinmetall AG (Germany)
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