April 15, 2024

Iot Is Fastest Growing Segment Fueling The Growth Of Automotive Energy Harvesting And Regeneration Market

Market Overview:

Automotive energy harvesting involves the conversion of wasted or unused energy in a vehicle into useful electrical energy that can power electronic devices, recycle braking energy, or extend electric vehicle range. It offers advantages such as reducing emissions and enhancing fuel efficiency.

Market key trends:

With growing environmental concerns and stringent emission norms, focus on optimizing vehicle efficiency is increasing. Energy harvesting and regeneration plays a key role in reducing vehicular emissions and improving fuel economy. Technologies such as thermoelectric generators and piezoelectric sensors in vehicles are gaining popularity as they facilitate retrieval of wasted kinetic and heat energy during braking and convert it into usable electrical energy to power on-board vehicle electronics or charge the batteries. This helps extend driving range of electric vehicles without increasing fuel consumption of internal combustion engine vehicles.

Segment Analysis
The automotive energy harvesting and regeneration market is dominated by the regenerative braking segment. Regenerative braking helps in converting kinetic energy lost during braking into usable electrical energy by slowing down the vehicle and charging the batteries. It accounts for over 60% of the total market share owing to its ability to recover a significant amount of energy lost during braking.

Key Takeaways

The Global Automotive Energy Harvesting And Regeneration Market Demand is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing stringent emission norms demanding need for efficient energy recovery technologies.

The market size for automotive energy harvesting and regeneration is estimated to reach US$ 4.4 Bn in 2023.

In terms of region, North America dominates the global automotive energy harvesting and regeneration market and is expected to continue its dominance during the forecast period. This is attributed to the presence of favorable government regulations regarding vehicular emissions and fuel economy in the region.

Key players operating in the automotive energy harvesting and regeneration market are Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive PLC, Faurecia SA, Tenneco Inc., ZF Friedrichshafen AG, Gentherm Incorporated, Torotrak PLC, and Ricardo PLC. Continental AG and Robert Bosch GmbH are identified as the market leaders and account for over 50% of the global market share.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it