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  • Automotive Energy Harvesting and Regeneration System Market, Size, Share, Outlook and Growth Opportunities 2019-2026

    (, April 14, 2020 ) Market Overview
    The Global Automotive energy harvesting and Regeneration System Market is expected to grow at a CAGR of 20% during the forecasting period (2019-2026).
    Energy harvesting is the process in which a small amount of energy, that would otherwise be lost such as heat, light, sound, vibration, wind magnetic force or movement, is transformed into an electric current and stored for later usage. Key players in the automotive industry are investing heavily in R&D to come up with leading-edge technologies which will give them a competitive advantage over other players in the industry. With the introduction of energy harvesting and regeneration systems automakers have been able to provide a solution to problems such as diminishing oil reserves and increased global warming and pollution.
    The report covers all the major trends and drivers playing a vital role in the growth of the global market. The market has been segmented on the basis of region, energy type, and vehicle type.

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    Market Dynamics
    The global Automotive Energy Harvesting and Regeneration System market is primarily driven by growing demand for electric vehicles (EVs) globally. As energy harvesting and regeneration system are used EVs store energy for later use. Therefore, rise in demand for vehicles running on alternative fuels such as EVs coupled with the introduction of regulation pertaining to reducing carbon footprint and the global warning will fuel growth in the global automotive energy harvesting and regeneration system market during the forecast period.
    According to International Energy Agency (IEA), in 2017, more than one million EVs were sold globally, with countries like Norway, China, and the US dominating the global EVs market in terms of market share. In the same year, globally more than three million EVs were in stock. Energy harvesting and regeneration system are one of the key components which are now being installed by EV manufacturers, to provide value addition to their consumers. These systems provide a clean source of energy and therefore it is expected that demand for automotive energy harvesting and regeneration systems will increase during the forecast period.
    However, the high entry costs and low power capacity of batteries may hinder the market growth. Automotive energy harvesting and regeneration systems have low energy conversion rate which is approximately 5%, therefore, posing a major threat for market growth.

    Segmentation Analysis
    By Vehicle Type, the global Automotive Energy Harvesting and Regeneration System market is segmented into Hybrid-electric vehicles (HEV), Plug-in hybrid electronic vehicles (PHEV), and Battery electric vehicles (BEV).
    HEV is powered by both petrol and electricity. The battery in HEV is charged by the cars own braking system; also called a regenerative braking system that converts kinetic energy into electricity. However, in PHEV, cars battery can be charged through the external power source. Unlike HEVs and PHEVs, BEVs does not have petrol engine, fuel tank or exhaust pipe and are fully electric vehicles with batteries which can be charged via charging stations and power outlet.
    In 2018, HEVs held the majority share in the market and will continue to dominate the market growing at CAGR 0f ~20% during the forecast period. However, with continuous technological innovation and high maintenance battery and battery sensors coupled high replacement cost will result in growth in demand for Automotive Energy Harvesting and Regeneration System in BEV during the forecast period.
    By Energy type, the global Automotive Energy Harvesting and Regeneration System market is segmented into Kinetic Energy Recovery Systems (KERS), Regenerative Shock Absorber System, and Solar Power Systems (Photovoltaic). Kinetic energy recovery systems (KERS) held the highest market share as these energy harvesting and regeneration is most prominently used in EVs. In a conventional vehicle, a majority of the kinetic energy is converted during friction braking into heat and emitted unused into the environment. EVs such as HEVs and PHEVs use the electric motor to recuperate a portion of kinetic energy produced for reuse. A photovoltaic system or solar power system has also been attracting manufacturers and consumers due to its more efficient way of converting solar energy directly into electricity coupled with its cost-effectiveness. It is expected that the regenerative shock absorber system and solar power systems will grow at faster CAGR than KERS due to their effectiveness in passenger EVs as well as commercial EVs.

    Geographical Share
    By geography, the global Automotive Energy Harvesting and Regeneration System market is segmented into Europe, North America, Asia-Pacific (APAC), South America, and the Middle East and Africa (MEA).
    Europe holds the largest market share in Global Automotive Energy Harvesting and Regeneration System Market. During the forecast period, it is expected Europe will continue to dominate the market, growing at a CAGR of 18%-22%. Some of the key leading countries in the region are Germany, Norway, France, and the UK.
    North America held the second-largest market share in global Automotive Energy Harvesting and Regeneration System market. With continuous technological innovation, growing awareness about the benefits of energy harvesting, and new product launches providing better efficiency to consumers will drive the market in the region.
    APAC is the fastest-growing region and expected to grow at a CAGR of ~25% during the forecast period. Developing countries in the region such as China and India will be driving the market growth mainly due to rapid urbanization and economic growth. In 2018, China is the key leading country in the region and will post a CAGR of close to 28% due to exponential growth in sales of EVs in the country. In 2017, electric car sales were up by approximately 89% as compared to 2016 in China.

    Competitive Landscape
    Global Automotive Energy Harvesting and Regeneration System is very new and at nascent stage with the presence of top multinationals as well as small-mid size players. The major players include Robert Bosch GmbH, Gentherm Incorporated, Continental AG, Delphi Automotive PLC, and Denso Corporation. These players have a diverse portfolio of products and offer from new innovative product to their customers. Other prominent vendors with similar product offerings are Tenneco Inc., Faurecia SA, ZF Group, and Ricardo PLC.
    Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, and Denso Corporation are some of the big conglomerates with wide product and service portfolio with a worldwide presence.
    In April 2019, Gentherm Incorporated was recognized as a 2019 Automotive News PACE Award winner for its battery thermal management (BTM) system.
    In April 2019, DENSO announced that it will invest approximately 180 billion yen (US$1.6 billion) over the three years from FY2018 to late FY2020 to support its aggressive development and production of electrified automotive products, systems, and technologies. To achieve its long-term business goal to create and inspire new value for the future of mobility, DENSO is focused on increasing its performance in the area of electrification.

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    Tel: +1 877 441 4866

    DataM Intelligence

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    Source: EmailWire.Com


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