Global Waste Heat Recovery Thermal System Market, By ICE Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Truck, Bus), Technology (Active Transmission Warm Up, EGR, Engine Thermal Mass Reduction, Reduced HVAC System Loading, Others), Electric Vehicle Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), 48v Mild Hybrid Vehicle), Component (Air Filter, Condenser, Compressor, Water Pump, Motor, Heat Exchanger, Heater Control Unit, Thermoelectric Generator, Electric Compressor, Electric Water Pump, Electric Motor), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights of Waste Heat Recovery Thermal System Market
Waste heat recovery thermal system market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 15.0% in the above-mentioned forecast period.
Waste heat recovery thermal system us basically an thermal energy recovery heat exchanger that transfers heat from high-temperature process outputs to another part of the process for a specific reason, usually increased efficiency. These systems are segmented into various components such as the air filter, condenser, compressor, water pump, motor, heat exchanger, heater control unit, thermoelectric generator, electric compressor, electric water pump, and electric motor.
The factors such as the rising electricity prices and rising electricity prices have resulted in growth in the market value in the forecast period of 2022 to 2029. Additionally, the rising number of initiatives taken by government for the adoption of emission regulation, introduction of advanced technologies by various organizations are estimated to accelerate market’s growth. The growing preferences towards luxury as well as comfort features, surging level of funds for research and development activities also cushions the market’s growth within the forecasted period. However, the high cost associated with the usage of system technology will further restrict the scope of growth for the market.
Furthermore, the rising need of mobility solutions along with rising demand of electric vehicle will further offer a variety of growth opportunities for the market in the forecast period of 2022 to 2029. On the other hand, the lack of standardization is projected to pose as a major challenge to the market growth rate.
This waste heat recovery thermal 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 waste heat recovery thermal 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.
Global Waste Heat Recovery Thermal System Market Scope and Market Size
The waste heat recovery thermal system market is segmented on the basis of ICE vehicle type, technology, electric vehicle type, and component. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Waste heat recovery thermal system market on the basis of ICE vehicle type has been segmented as passenger car, light commercial vehicle (LCV), truck, and bus.
- Based on technology, waste heat recovery thermal system market has been segmented into active transmission warm up, EGR, engine thermal mass reduction, reduced HVAC system loading, and others.
- On the basis of electric vehicle type, waste heat recovery thermal system market has been segmented into battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), fuel cell electric vehicle (FCEV), and 48v mild hybrid vehicle.
- Waste heat recovery thermal system has also been segmented on the basis of component into air filter, condenser, compressor, water pump, motor, heat exchanger, heater control unit, thermoelectric generator, electric compressor, electric water pump, and electric motor.
Waste Heat Recovery Thermal System Market Country Level Analysis
The waste heat recovery thermal system market is segmented on the basis of ICE vehicle type, technology, electric vehicle type, and component.
The countries covered in the waste heat recovery thermal system market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the waste heat recovery thermal system market and will continue to flourish its trend of dominance during the forecast period due to the introduction of advanced technology along with rising number of research and development activities is expected to drive the market growth in the region within the forecast period of 2022 to 2029. The North America region will witness unprecedented growth during the forecast period and will project the highest compound annual growth (CAGR) rate. This is because of the increasing preferences towards electric vehicle along with introduction of BS VI norms in this region.
The country section of the waste heat recovery thermal system market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Waste Heat Recovery Thermal System Market Share Analysis
The waste heat recovery thermal 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 waste heat recovery thermal system market.
Some of the major players operating in the waste heat recovery thermal system market report are DENSO CORPORATION., MAHLE GmbH, VALEO, Hanon Systems, BorgWarner Inc., GENTHERM, Schaeffler AG, Johnson Electric Holdings Limited, Dana Limited., Robert Bosch GmbH., Eberspächer, VOSS Automotive GmbH, Grayson, MODINE MANUFACTURING COMPANY, Boyd Corporation., and SANDEN CORPORATION., among others.
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