Albany, New York, Nov. 07, 2017 (GLOBE NEWSWIRE) -- The vendor landscape of the global market for automotive energy harvesting and regeneration market is increasingly becoming concentrated with a number of new companies investing into research and development of effective energy harvesting and regeneration solutions for a mounting number of electric and hybrid vehicles, observes Transparency Market Research in a recent report. In a bid to strengthen their positions, leading companies are focusing on technological advancements in their products and strategic partnerships. Robert Bosch GmbH’s partnership with Software AG for the development of joint services and solutions for industry IoT is an instance.
Well-established Automotive Industry in Europe to Provide Massive Growth Opportunities
Of the variety of vehicles that energy harvesting and regeneration are made for, the segment of hybrid electric vehicles is presently the leading contributor of revenue to the market. The segment accounted for the dominant share of the market in 2016 and is likely to retain its top spot over the report’s forecast period as well, registering an impressive 22.2% CAGR from 2017 to 2025.
From a geographical standpoint, the market for automotive energy harvesting and regeneration in Europe is presently the most lucrative regional market, accounting for the dominant share of the market in 2016 and is likely to lead over the forecast period, powered by the well-established automotive sector in European countries such as France, the U.K., Germany, and Italy. Being a region with several developed economies, Europe is also one of the key consumers of luxury and advanced vehicles, thus having significant scope for the expansion of the automotive energy harvesting and regeneration market.
Rising Awareness Regarding Need for Energy Efficient Vehicles to Drive Market
One of the key factors boosting the development of the global automotive energy harvesting and regeneration market is the increased focus on green vehicles - the vehicles that have led to a low carbon footprint right from their construction to their active lifetime to disposal. With the inclusion of smart electronics capable of bringing down the fuel consumption of vehicles, as in case of hybrid cars, to also completely cutting it down, as in case of purely electric vehicles, automotive energy harvesting and regeneration systems make vehicles environmentally-friendly. Along with the rising awareness regarding the need to turn to green vehicles for environmental benefits. The stringent regulations advocating the increased usage of energy-efficient vehicles and alternative fuels are also driving market.
On the other hand, however, the relatively higher costs of hybrid and electrical vehicles and also of the present-day battery technologies could act as a hindering factor for the global automotive energy harvesting and regeneration market. Nevertheless, the situation is expected to become more encouraging in the near future as battery technologies witness reduction in costs, which is bound to happen with the rising number of companies and the increased investments on R&D activities in the global market.
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This review of the global automotive energy harvesting and regeneration market is based on a recent market research report published by Transparency Market Research. The report is titled “Automotive Energy Harvesting and Regeneration Market (Heat Recovery System Type - Regenerative Braking System, Turbocharger, and Exhaust Gas Recirculation System; Vehicle Type - Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Battery Electric Vehicle) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025.”
For the study, the market has been segmented as follows:
Automotive Energy Harvesting and Regeneration Market, by Heat Recovery System Type
- Regenerative Braking System
- Turbocharger
- Exhaust Gas Recirculation System
Automotive Energy Harvesting and Regeneration Market, by Vehicle Type
- Hybrid Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Battery Electric Vehicle
Automotive Energy Harvesting and Regeneration Market, by Geography:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Browse Press Release of this Research Report: https://www.transparencymarketresearch.com/pressrelease/automotive-energy-harvesting-regeneration-market.htm
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