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Driving factors of exhaust heat recovery system market are rise in production of vehicle at global level, increasing disposal income, demanding electric vehicle due to climatic changes in environment, rising pollution by vehicle, governing bodies of various countries, manufacturers, and consumers are focusing on research and development related to reducing pollution these factors can create more opportunity for exhaust heat recovery system market.
Lower level awareness among consumers and emerging competitors can hamper the growth of the exhaust heat recovery system market.
In terms of Vehicle, Passenger cars segment shares the largest market during the forecast period. Increase in production of passenger vehicles across the globe, a decline in bank interest rate, rapid urbanization, rising safety concern and a majority of diesel passenger cars are equipped with EHRS technologies such as EGR and turbocharger will lead for the opportunity in exhaust recovery system market.
In terms of component, EGR Cooler segment is projected to grow at fastest during the forecast period. The major problem faced by todayâ€™s world is environmental pollution for which vehicular traffic is a major contributor. EGR cooler reduces the combustion temperature, preventing valve clatter and detonation from vehicles and helps the environment to be clean. Most trending nowadays and government initiatives to save the environment will boost the market for EGR cooler in the exhaust heat recovery system market.
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Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economics and a strong presence of manufacturers in Japan, China, and India will boost the market in this region. Rise in disposal income, government subsidies to low down air pollution in these regions and ever-increasing population of this region will create more opportunity in the exhaust heat recovery system market. Northern America region is projected to be the second largest exhaust heat recovery system market for automotive.
BorgWarner, Continental, Faurecia, Denso, MAHLE, Hitachi Ltd, Aptiv, Robert Bosch GmbH, Bosal, Cummins Inc., Tenneco, Autoliv, Ihi Corporation, ABB Ltd, Alstom, Foster Wheeler AG, Econotherm ltd., Thermax ltd., Ormat Technologies Inc, Siemens AG, General Electric, Mitsubishi Heavy Industries Ltd.
The scope of the Report Global Exhaust Heat Recovery System Market:
Global Exhaust Heat Recovery System Market: By Technology
Global Exhaust Heat Recovery System Market: By Component
Global Exhaust Heat Recovery System Market: By Vehicle
Global Exhaust Heat Recovery System Market: By region
Middle East & Africa
Key Player analyzed in the Global Exhaust Heat Recovery System Market Report:
Robert Bosch GmbH
Foster Wheeler AG
Ormat Technologies Inc
Mitsubishi Heavy Industries Ltd