Market Size of Automotive Exhaust Heat Recovery System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Exhaust Heat Recovery System Market Analysis
The Automotive Exhaust Heat Recovery market is estimated to be valued at USD 23.7 billion in the current year. It is expected to reach USD 35.4 billion by the end of the forecast period, registering a CAGR of 8.3% during the forecast period.
The Automotive exhaust heat recovery market is a rapidly evolving sector within the automotive industry. It focuses on harnessing and utilizing waste heat generated by a vehicle's exhaust system to enhance overall efficiency, reduce emissions, and improve fuel economy. This technology gained significant attention and importance due to environmental concerns, stricter emission regulations, and the continuous quest for improved fuel efficiency.
The adoption of exhaust heat recovery systems is on the rise globally as stricter emission standards push automakers to optimize combustion and reduce harmful emissions. Furthermore, the development of advanced materials, like heat-resistant alloys and ceramics, is enhancing the efficiency and durability of these components. Also, governments and regulatory bodies incentivize automakers through credits for adopting fuel-saving technologies, including exhaust heat recovery systems.
Another major driver for the Automotive Exhaust Heat recovery systems market is the sales of passenger cars and commercial vehicles. The increase in passenger car sales from USD 56.4 million in 2021 to USD 57.4 million in 2022 is contributing to the growth of the automotive exhaust heat recovery market.
