Portland, OR, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global exhaust heat recovery system market generated $16.1 billion in 2021, and is projected to reach $28.7 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Exhaust Heat Recovery System Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $16.1 billion |
| Market Size in 2031 | $28.7 billion |
| CAGR | 6.1% |
| No. of Pages in Report | 379 |
| Segments Covered | Technology, Mode, Vehicle Type, Components, and Region. |
| Drivers | Surge in demand for engine performance and fuel efficiency. |
| Need for engine downsizing for reducing vehicle weight. | |
| Opportunities | Manufacturing sector is experiencing prominent surge in countries such as India, South Africa, China, and Brazil. |
| Rise in production and sale of vehicles in under-developed economies. | |
| Increase in demand for turbochargers and vehicle production in developing countries. | |
| Restraints | Increase in demand for battery electric vehicles and installation issues. |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global exhaust heat recovery system market as COVID-19 pandemic forced governments across the globe to implement stringent lockdowns. Moreover, the ban on import–export of essential raw material items for most of 2020, and few months in 2021 led to sudden decline in availability of important raw materials for vehicle components.
- Interrupted supply chains and production schedules caused by the COVID-19 pandemic, aviation production and sales suffered negatively impacted the market for exhaust heat recovery system market in 2020.
- During the COVID-19 pandemic, there was fluctuation in sale of exhaust heat recovery systems and there was a halt in vehicle production hampering the global market growth.
The report offers a detailed segmentation of the global exhaust heat recovery system market based on technology, mode, vehicle type, components, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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Based on technology, the conventional technology segment held the major market share in 2021, holding nearly three-fourths of the global exhaust heat recovery system market share, and is expected to maintain its leadership status during the forecast period. However, the future technology segment, is expected to cite the fastest CAGR of 7.2% during the forecast period.
On the basis of vehicle type, the truck segment held the largest market share in 2021, accounting for more than one-third of the global exhaust heat recovery system market share and is expected to maintain its leadership status during the forecast period. Nevertheless, the buses segment, is expected to cite the highest CAGR of 7.3% during the forecast period.
In terms of components, the EGR component segment held the largest market share in 2021, accounting for two-fifths of the global exhaust heat recovery system market share. However, the turbocharger component segment is expected to maintain its leadership status during the forecast period. Nevertheless, the thermoelectric generator component segment, is expected to cite the highest CAGR of 7.6% during the forecast period.
Region-wise, the Asia-Pacific region held the major market share in 2021, grabbing more than two-fifths of the global exhaust heat recovery system market share. Moreover, the Asia-Pacific market is slated to dominate the global market share during the forecast period. However, the Asia-Pacific region is expected to cite the fastest CAGR of 6.8% during the forecast period. The report also analyses other regions such as Europe, North America, and LAMEA.
The key players analyzed in the global exhaust heat recovery system market report include Aisin Corporation, Borgwarner Inc., Calsonic Kansei Corporation (Marelli Holdings Co., Ltd.), CDTi Advanced Materials Inc., Continental AG, Dana Limited, Denso Corporation, Eberspächer Gruppe GmbH & Co. KG, Faurecia, Garrett Motion Inc., IHI Corporation, Katcon SA de C.V., MAHLE GmbH, Mitsubishi Heavy Industries, Ltd., Schaeffler AG, Tenneco Inc., and Valeo.
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The report analyzes these key players in the global exhaust heat recovery system market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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