Global Exhaust Heat Recovery System Market: Governing bodies of various countries, manufacturers, and consumers are focusing on research and development related to reducing pollution.

The global exhaust heat recovery system market was valued to be USD 29.83 billion in 2020 and is projected to reach USD 64.94 billion by 2027, at a CAGR of 10.38 %, during the forecast period. An automotive exhaust heat recovery system turns the thermal losses contained in the engine exhaust into energy. The output of this system is either electric energy stored in a battery or mechanical energy transferred to the crankshaft. Utilization of this system is a prominent method of increasing fuel efficiency and decreasing the pollution, simultaneously; hence, vehicle manufacturers have great interest over research and development related to this system. The exhaust heat recovery system is used either on a conventional vehicle or hybrid vehicle.

This system cannot be used on electric vehicles, as they do not emit any exhaust gases. Numerous research and development activities have been carried out on engines, yet the maximum achievable efficiency is 45% for a diesel engine. For other engines, the maximum achievable efficiency is 35%. Rest all heat is lost as pumping losses, friction losses, cooling losses, exhaust losses, and accessories. Losses in an exhaust pipe comprise thermal losses, kinetic losses, chemical losses, and latent heat losses; however, major losses amongst these are thermal losses and kinetic losses. The heat lost in the exhaust cannot be recovered entirely; however, a portion of this heat is recovered by employing the exhaust heat recovery system.

The key driver of the automotive exhaust heat recovery system is its capability of reducing pollution. Governing bodies of various countries, manufacturers, and consumers are focusing on research and development related to reducing pollution, due to the rise in level of pollution and the increase in number of vehicles. Demand for exhaust heat recovery system is increasing, globally, as it is a highly effective system that helps utilize the exhaust and reduce pollution.

Another key driver of the exhaust heat recovery system is stringent government norms. Several countries have legislation on carbon dioxide emission owing to the increase in level of atmospheric carbon dioxide. Consequently, the demand for waste exhaust heat recovery system is increasing. Another key driver for the exhaust heat recovery system market is the reduced size of components. As the system increases fuel efficiency of engine, requirement of large sized components also decreases. This, in turn, reduces the cost as well power required for those components.

A key restraint of the automotive exhaust heat recovery system market is its cost. The system adds to the cost of the vehicle; hence, buyers prefer to ignore the system. Another restraint is the lower level of awareness among consumers. Consumers are likely to prefer adopting an exhaust heat recovery system for their vehicles if awareness is created.

Faurecia (France), Mahle (Germany), Continental (Germany), Denso (Japan), Valeo (France), Dana (US), Calsonic Kansei (Japan), Delphi Technologies (UK), Mitsubishi Electric (Japan), Hitachi Ltd. (Japan), Bosal (Belgium), Tenneco Inc. (US), Borgwarner Inc. (US) are some of the prominent companies competing in the global exhaust heat recovery system market.

The market in Asia Pacific is growing at the fastest rate as a result of the high industrialization paired with increasing significance of sustainable energy in emerging markets, particularly in China and India. Also, thriving manufacturing sector in the region is noted to profit the exhaust heat recovery system market in the region. In addition, Japan, China, Singapore, and Australia are the prominent contributors to the market in the region.