Recovering energy from the automotive systems is playing an increasingly important role in the development of next generation vehicles. This energy harvesting is being achieved in various different ways and is coupled with different types of power management and storage technologies. The global automotive energy harvesting regeneration market has been segmented on the basis of heat recovery system type and vehicle type. The market has been further segmented by geography broadly into five major regions, namely: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
Global Automotive Energy Harvesting Regeneration Market: Drivers and Restraints
Growing popularity of green manufacturing in the automotive industry coupled with stringent government regulations is driving the growth of the global automotive energy harvesting and regeneration market. Government policies and regulations globally such as The Corporate Average Fuel Economy (CAFÉ) Standards are encouraging the demand for energy efficient vehicles by formulating regulations for reducing petroleum consumption, increasing the availability of alternative fuel vehicles, lowering greenhouse emission and promoting the advancement of innovative technologies and this is offering a potential growth opportunity to the global automotive energy harvesting and regeneration market.
Additionally, organic growth of the global electric vehicle production, owing to increasing environmental awareness, government initiatives and technological innovation, is influencing the growth of the global market positively. Thus, the conjoint effect of all these drivers is projected to strongly bolster the growth of the global automotive energy harvesting regeneration market in the coming years from 2017 - 2025.
Lack of awareness among customers and high initial cost of electric vehicles is posing to be a restraint to the growth of the global automotive energy harvesting regeneration market. However, the original equipment manufacturers (OEMs) in the automotive industry globally are persistently trying to produce such automobiles which are more efficient and light in weight as this would help to improve their fuel efficiency and performance.
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Moreover, government vehicular emission norms are compelling the OEMs to manufacture vehicles which are environment friendly and help to reduce carbon monoxide and nitrogen oxide emissions. These factors are offering substantial growth opportunities to the growth of the automotive energy harvesting and regeneration market, globally. The developing nations of Asia Pacific, Latin America and Middle East and Africa are also offering potential growth opportunities for the expansion of the market in these regions during the forecast period.
Global Automotive Energy Harvesting Regeneration Market: Competitive Landscape
The key players that are operating in the global automotive energy harvesting and regeneration market have been profile in the report competitively and thoroughly across all the five broad regions covered under the scope of the study. The competitive landscape of these market players includes the recent developments in the field of energy harvesting and regeneration and the business strategies adopted by the companies to sustain and compete in the global market. In addition to this, SWOT analysis has been provided in the report of each of these players to identify and further analyze their positioning the market. The report further offers the market attractiveness analysis of the segment, vehicle type for offering an insight about the most lucrative type of vehicle in the current market scenario.
The market dynamics of the global market, which has also been exhaustively analyzed under the purview of the report, is inclusive of the market drivers, restraint and key opportunities. Thus, the global automotive energy harvesting regeneration market report offers an in-depth and through study of the market and provides the revenue forecast of the market for the period of 2017 to 2025.
Some of the major players operating in the global automotive energy harvesting and regeneration market include: Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (U.K.), Denso Corporation (Japan) and Tenneco Inc. (U.S.), Faurecia SA (France), Gentherm Incorporated (U.S.), ZF Group (Germany), Ricardo PLC (U.K.) and Torotrak PLC (U.K.) among others.