Europe Exhaust Heat Recovery System Market, By Component (Exhaust Gas Recirculation (EGR) Valve and Cooler, Turbine, Thermoelectric Generator (TEG) Module, Compressor, Evaporator, Condenser, Expander, Pump, Thermoelectric Module, Heat Exchanger), Technology (Exhaust Gas Recirculation (EGR), Thermoelectric Generator (TEG), Organic Rankine Cycle (ORC), Turbocharger, and Others), Vehicle Type (Passenger, Light Commercial. Tuck, Bus), Hybrid vehicles (Electric, Plug-in), Off-Highway Vehicles (Construction Equipment, Agriculture Tractors), Energy Source (Fuel, Electric), Sales Channel (OEM, Aftermarket) – Industry Trends and Forecast to 2030.
Europe Exhaust Heat Recovery System Market Analysis and Size
Before a new car is introduced to the market, testing is undertaken to confirm that it meets the current emissions regulations. The emissions rules and regulations differ from country to country, but they are getting more strict with time. The emissions of CO2 in an automotive car are proportional to its fuel consumption. Thus, to meet these stringent regulations, automotive industries must reduce their vehicle's fuel consumption. Exhaust Heat Recovery System has the potential to reduce the fuel consumption of their vehicle by converting some of this waste heat into electricity. As a result, the demand for the exhaust heat recovery system increases, likely enhancing the market growth.
Data Bridge Market Research analyses that the exhaust heat recovery system market is expected to reach USD 13,266.35 million by 2030, which is USD 8,579.07 million in 2022, at a CAGR of 5.60% during the forecast period. 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.
Europe 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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Component (Exhaust Gas Recirculation (EGR) Valve and Cooler, Turbine, Thermoelectric Generator (TEG) Module, Compressor, Evaporator, Condenser, Expander, Pump, Thermoelectric Module, Heat Exchanger), Technology [Exhaust Gas Recirculation (EGR), Thermoelectric Generator (TEG), Organic Rankine Cycle (ORC), Turbocharger, and Others], Vehicle Type (Passenger, Light Commercial. Tuck, Bus), Hybrid vehicles (Electric, Plug-in), Off-Highway Vehicles (Construction Equipment, Agriculture Tractors), Energy Source (Fuel, Electric), Sales Channel (OEM, Aftermarket)
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
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Market Players Covered
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Delphi Technologies (U.K.), Eberspächer (Germany), DENSO CORPORATION (Japan), Robert Bosch GmbH (Germany), Honeywell International Inc. (U.S.), MAHLE GmbH (Germany), IHI Corporation (Japan), BorgWarner Inc. (U.K.), Mitsubishi Electric Corporation (Japan), Valeo (France), Marelli Holdings Co., Ltd. (Japan), Sensata Technologies Inc. (U.S.), Faurecia (France), Calsonic Kansei Corporation (Japan), Continental AG (Germany)
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Market Opportunities
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Market Definition
An exhaust heat recovery system concerts waste heat energy or exhaust gases into electric energy for batteries or mechanical energy reintroduced on the crankshaft. This technology is of growing interest as automotive and heavy-duty vehicle manufacturers continue saving fuel, increasing efficiency and reducing emissions.
Europe Exhaust Heat Recovery System Market Dynamics
Drivers
- Growing demand of exhaust gas recirculation (EGR) technology
The key component of the exhaust gas recirculation (EGR) system is the EGR valve, which is generally closed. Exhaust gas recirculation (EGR) valve's function is to control the flow of recirculated exhaust gas based on the engine load, which propels the demand for the exhaust heat recovery system market. Most car manufacturers are using exhaust gas recirculation (EGR) technology into their vehicles since it aids to minimize the emission of harmful gases. Thus, increasing demand of exhaust gas recirculation (EGR) technology due to its benefits is expected to drive the market growth during the forecast period.
- Increasing usage of exhaust heat recovery systems in industrial manufacturing processes
Huge amount of heat is produced from the exhaust manufacturing facilities, which surges the carbon footprint or CO2 emissions, thus creating serious and negative environmental impacts. Exhaust heat recovery systems is used as a valuable alternative for improving the energy efficiency of industrial manufacturing processes. As a result of this factor, increasing the usage of exhaust heat recovery systems in industrial manufacturing processes which is likely to boost the market growth
Opportunities
- Increasing adoption of exhaust heat recovery system
The upcoming development of the industry will be augmented by investments done in various industries such as paper & pulp, petrochemicals, refineries, heavy metals and chemicals. Major manufacturing industries are actively adopting exhaust heat recovery system to reduce their dependence on conventional energy. Therefore, increasing adoption of exhaust heat recovery system will create lucrative opportunities for the market growth.
- Growing demand of exhaust heat recovery system for maintain exhaust heat
The growing usage of exhaust heat for auxiliary applications including heating, ventilation, and air conditioning (HVAC) and oil cooling eventually increases the demand for the exhaust heat recovery system. The increasing demand of exhaust heat recovery system for maintain exhaust heat is expected to provide new profitable opportunities for the market growth during the forecast period.
Restraints/ Challenges
- Rising sales of electric vehicles
There has been a surge in the sales of electric vehicles because of rapid adoption of electric vehicles. As a result, reduces the demand for exhaust heat recovery system because there is no need for exhaust heat recovery system in electric vehicles which is expected to hamper the market growth.
- High cost associated with exhaust heat recovery system
Maintenance and the installation of the exhaust heat recovery system systems is very complex due to which requires high expenditure. Hence, installing the system requires large capital expenditure, which can only afford by large industries. Small and medium industries cannot afford such extensive expenditures. Therefore, high cost associated with exhaust heat recovery system will further hamper the market growth.
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.
Recent Development
- In 2020, BorgWarner introduced EGR technology which follows CAFÉ (Corporate Average Fuel Economy) and India's BS-VI regulations. It is supplying the new advanced components to a market leader to its European plant and in India for its 1.5 L gasoline engine, designed to fulfil the new BS-VI emission norms. This technology will aid the manufacturer in meeting India CAFÉ CO2 emission standards which are now set at 130 g/km and are anticipated to fall at 113 g/km by 2022.
Exhaust Heat Recovery System Market Scope
The exhaust heat recovery system market is segmented on the basis of component, technology, vehicle type, hybrid vehicles, off-highway vehicles, energy source and sales channel. The growth amongst these segments will help you analyze 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.
Component
- Exhaust Gas Recirculation (EGR) Valve and Cooler
- Turbine
- Thermoelectric Generator (TEG) Module
- Compressor
- Evaporator
- Condenser
- Expander
- Pump
- Thermoelectric Module
- Heat Exchanger
Technology
- Exhaust Gas Recirculation (EGR)
- Thermoelectric Generator (TEG)
- Organic Rankine Cycle (ORC)
- Turbocharger
- Others
Vehicle Type
- Passenger
- Light Commercial
- Tuck
- Bus
Hybrid vehicles
- Electric
- Plug-in
Off-Highway Vehicles
- Construction Equipment
- Agriculture Tractors
Energy Source
- Fuel
- Electric
Sales Channel
- OEM
- Aftermarket
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 country, component, technology, vehicle type, hybrid vehicles, off-highway vehicles, energy source and sales channel as referenced above.
The countries covered in the exhaust heat recovery system market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Germany dominates the exhaust heat recovery system market owing to stringent automotive emission rules and regulation in this region. Germany is a hub for the automotive sector because luxury vehicles are manufactured in this nation with inbuilt innovative exhaust heat recovery system.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 exhaust heat recovery system market.
Some of the major players operating in the exhaust heat recovery system market are:
- Delphi Technologies (U.K.)
- Eberspächer (Germany)
- DENSO CORPORATION (Japan)
- Robert Bosch GmbH (Germany)
- Honeywell International Inc. (U.S.)
- MAHLE GmbH (Germany)
- IHI Corporation (Japan)
- BorgWarner Inc. (U.K.)
- Mitsubishi Electric Corporation (Japan)
- Valeo (France)
- Marelli Holdings Co., Ltd. (Japan)
- Sensata Technologies Inc. (U.S.)
- Faurecia (France)
- Calsonic Kansei Corporation (Japan)
- Continental AG (Germany)
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