North America Exhaust Heat Recovery System Market – Industry Trends and Forecast to 2030

North America 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.

North America Exhaust Heat Recovery System Market Analysis and Size

The exhaust heat recovery system's output is either stored electric energy in a battery or mechanical energy transferred to the crankshaft. This system is a popular method of increasing fuel efficiency while decreasing pollution. Growing stringent regulations concerning the reduction of vehicular pollution are forcing the manufacturers to respective initiatives. As a result, vehicle manufacturers have shown an interest in R&D related to exhaust heat recovery systems.

Data Bridge Market Research analyses that the exhaust heat recovery system market, valued at USD 9,020.49 million in 2022, will reach USD 15,041.39 million by 2030, growing at a CAGR of 6.6% 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.

North America Exhaust Heat Recovery System Market Scope and Segmentation  

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 energy that is dissipated enhances the vehicle's overall performance and reduces its greenhouse gas emissions. Many different parts, including turbocharger and exhaust gas recirculation systems, which are more widely used in diesel and gasoline-powered vehicles, are used in an exhaust heat recovery system.

Exhaust Heat Recovery System Market Dynamics

Drivers

• 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. Engine downsizing involves fewer cylinders being used to reduce the size of the engine as a whole. The amount of engine friction is decreased by lowering the number of cylinders. The use of turbochargers and exhaust gas recirculation are examples of advances in exhaust heat recovery system technology that have led to smaller overall engines and higher power output, which can help boom the market.

•  Increasing demand for turbochargers

The increasing use of turbochargers in gasoline engines presents a significant growth opportunity for the exhaust heat recovery systems market. Before entering the engine cylinder, more air is compressed using a turbocharger. Turbochargers draw their air supply from the vehicle's exhaust system. Modern cars with diesel engines are almost universally equipped with turbocharger technology, unlike those with gasoline engines. Due to rising fuel efficiency standards and consumer demand for better vehicle performance, the market for turbochargers is growing. Turbochargers are made using lightweight alloy, which further lowers fuel consumption. As a result, the market for exhaust heat recovery system technology is anticipated to grow.

Opportunities

• Increasing demand for engine performance and fuel efficiency

Due to government initiatives to increase fuel efficiency, automobile manufacturers have been compelled to adopt cutting-edge technology to lighten and boost their vehicles' efficiency. The performance of a car is determined by its engine. Automakers are, therefore, under pressure to develop efficient engines that can satisfy both requirements while delivering improved performance and fuel efficiency. Exhaust heat recovery technologies, such as turbochargers and exhaust gas recirculation systems (EGR), typically use turbocharged engines that are small and specifically made to increase fuel efficiency to meet the corporate average fuel economy and euro VI standards. In particular, turbochargers function best at high engine speeds and run without a power source. Therefore, it is believed that the primary factors are improved engine performance and efficiency.

Restraints/Challenges

• Increasing demand for electric vehicles

With concerns such as global warming and initiatives to achieve net zero emissions, the market for electric vehicles is rapidly growing. As people's awareness of climate change has grown, there is a greater demand for electric vehicles, which has increased their production. The favorable incentives and policies that governments of various countries have implemented to promote electric vehicles also help develop the EV industry. The development and adoption of electric vehicles, which don't produce any emissions and don't require an exhaust system, are impeding the market for exhaust heat recovery systems.

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.

North America 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 U.S., Canada, and Mexico in North America.

The U.S. dominates the market and will continue to flourish its trend of dominance during the forecast period. One of the main causes of dominance is its strong economy, which enables businesses to manufacture cars with exhaust heat recovery systems to lower emission levels. The exhaust heat recovery systems market is also expanding due to rising environmental concerns among the nation's citizens.

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 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.)
• Marelli Holdings Co., Ltd. (Japan)
• Mitsubishi Electric Corporation (Japan)
• Hitachi, Ltd  (Japan)
• BOSAL (Belgium)
• Tenneco Inc. (U.S.)
• Rheinmetall AG (Germany)