Pune, 15, Dec 2022: The market is expected to grow from USD 16.2 Billion in 2021 to USD 26.41 Billion in 2029, at a CAGR of 6.3 percent over the forecast period from 2022 to 2029, according to the Exhaust Heat Recovery System Market research released by Maximize Market Research.
Exhaust Heat Recovery System Market Scope and Research Methodology
The Exhaust Heat Recovery System Market research report includes product categorization, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, and the most recent dynamic analysis, among other things. The study discusses the worldwide market’s drivers, opportunities, and limitations. It discusses the influence of various drivers, trends, and constraints on market demand during the forecast period. The research also outlines market potential on a global scale. The research includes the production time, base distribution, technical characteristics, research and development trends, technology sources, and raw material sources of the significant Exhaust Heat Recovery System Market in terms of production bases and technologies. The more precise research also contains the key application areas of market and consumption, significant regions and consumption, major producers, distributors, raw material suppliers, equipment providers, and their contact information, as well as an analysis of the industry chain relationship. This report’s study also contains product specifications, manufacturing processes, cost structure, and data information organized by area, technology, and application.
Exhaust Heat Recovery System Market Overview
Waste heat energy from exhaust gases is converted into either electric or mechanical energy for the crankshaft by Exhaust Heat Recovery Systems. The heat produced by the engine is used to heat vehicle fluids such as engine oil and coolant, therefore lowering hazardous gas emissions. Automobile manufacturers are compelled to design fuel-efficient vehicles due to tight regulations governing vehicle emissions in many nations. Fuel economy and carbon emissions are the key elements that might impact these constraints. Making fuel-efficient vehicles and decreasing GHG emissions from internal combustion have resulted in a number of advancements in this competitive exhaust heat recovery system industry. The Exhaust Heat Recovery System (EHRS) is critical for increasing powertrain effectiveness, which drives the market for exhaust heat recovery. Furthermore, the use of exhaust heat for auxiliary applications such as oil cooling and heating, ventilation, and air conditioning is expected to drive significant growth in exhaust heat recovery systems (HVAC). Furthermore, greater usage of turbochargers and exhaust gas recirculation (EGR) in gasoline-powered vehicles will create chances for the expanding market of exhaust heat recovery systems. There are also opportunities to apply new technology to reduce pollution from fuel gas emissions as research & development progresses. As a consequence, the market offers several potential prospects.
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Exhaust Heat Recovery System Market Dynamics
For many years, diesel engines and early gasoline engines used external exhaust gas recirculation (EGR). It was recently reintroduced for gasoline engines to improve fuel economy during mid- and high-engine load levels, where EGR can reduce throttling losses and fuel enrichment. Fuel enrichment causes large soot particle emissions, a fuel penalty, and hydrocarbon (HC) emissions, all of which are regulated. Gasoline engines may operate at high EGR rates (>20%) under stoichiometric conditions, but their intake gas, including external EGR, requires substantial cooling (down to 50°C) to get the highest fuel economy benefit. External EGR and its accompanying difficulties (fouling, corrosion, and condensation) at low temperatures, on the other hand, are well understood. To avoid this from happening, the EGR loop now includes a coated Gasoline Particulate Filter (cGPF), which cleans the EGR gas by removing particles, HC, NOx, and CO, leaving just CO2, N2, and H2O. The water condensation produced by cooling the cleaned EGR gas is clear, pH-neutral, and particle-free, as opposed to being filthy and acidic previously, which promotes the exhaust heat recovery system market.
Exhaust Heat Recovery System Market Regional Insights
In 2021, Asia Pacific held a 56% share of the market. The Asia Pacific region is expected to grow significantly throughout the forecast period. The region’s government restrictions are becoming increasingly rigorous; for example, the BS-VI norms that the Indian government has adopted to limit the pollutants produced by motor vehicles. Exhaust heat recovery systems will grow more common when environmental rules are imposed since they reduce the number of pollutants generated by cars while simultaneously improving fuel efficiency. As a result of the area’s rising pollution levels, people are becoming more environmentally conscious and worried about the emissions from the automobiles they buy. As a result of China’s rapidly evolving and tightening exhaust emission laws, manufacturers are being obliged to achieve a further sustained reduction in particle and nitrogen oxide emissions in order to meet the current Chinese 6a emissions standard. As a result, commercial vehicles traveling on and off roads must adhere to extra exhaust-gas recirculation requirements.
Exhaust Heat Recovery System Market Segmentation
By Mode:
- Exhaust Gas Recirculation
- Turbocharger
- Organic Rankine Cycle
- Other
By Vehicle Type:
- Passenger cars
- Light commercial Vehicle
- Truck
- Buses
By Components:
- EGR Component
- Turbocharger Component
- Organic Ranking Cycle Component
- Thermoelectric Generator Component
Exhaust Heat Recovery System Market Key Competitors:
- Siemens AG
- Mitsubishi Heavy Industries, Ltd.
- General Electric
- ABB
- Boustead International Heaters
- Forbes Marshall
- Promec Engineering
- Terrapin
- Wood Plc (Amec Foster Wheeler)
- Climeon; BoschIndustriekessel GmbH
- AURA GmbH & Co.
- Exergy S.p.A.
- IHI Corporation.
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Key questions answered in the Exhaust Heat Recovery System Market are:
- What is Exhaust Heat Recovery System?
- What is the growth rate of Exhaust Heat Recovery System Market for the forecast period?
- What is the nature of competition in Exhaust Heat Recovery System industry in developed economies and developing economies?
- Who are the key players in the Exhaust Heat Recovery System Market?
- Who are the market leaders in Exhaust Heat Recovery System in Europe
- Who are the market leaders in Exhaust Heat Recovery System in USA and Canada
- Who are the market leaders in Exhaust Heat Recovery System in India, China, Japan and South Korea?
- What are the factors affecting growth in the Exhaust Heat Recovery System Market?
- Who held the largest market share in Exhaust Heat Recovery System Market?
- What are the factors for the growth of the Asia-Pacific region in the Exhaust Heat Recovery System Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Mode, Type of Vehicle, Component, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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