Report forecasts the global automotive energy harvesting and regeneration market to reach a value of US$127.78 bn by 2025 from US$24.59 bn in 2016 by rising at a robust CAGR of 21.6% between 2017 and 2025.
Albany, NY -- (SBWIRE) -- 10/05/2017 -- The global automotive energy harvesting and regeneration market is growing on account of growing emphasis on fuel efficiency and environmental conservation. According to a new report added to the repository of Market Research Reports Search Engine (MRRSE), the global market will grow at over 21% to reach nearly US$ 128 billion in revenues. The report titled, "Global Automotive Energy Harvesting and Regeneration Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025" offers valuable insights and analysis on the global market.
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According to the report, the global automotive market is in the midst of a massive transformation, with electric vehicles, automation, and IoT adoption impacting strategy. In addition to this, automakers are also focusing on complying with growing spate of regulations on greener and fuel-efficient vehicles. Although there is dilemma over CAFÉ standards, automakers are still focusing on ensuring they are on the right side if these standards eventually come into effect.
To give readers a complete overview of this market, the report offers detailed segment-wise analysis and forecast. On the basis of vehicles, the market has been segmented into hybrid, battery, and plug-in. Currently, use of energy harvesting and regeneration is highest among hybrid vehicles and this trend will continue throughout the forecast period. The report forecasts the hybrid segment to grow at over 22% CAGR throughout the forecast period. Hybrid vehicles offer benefits of two fuel sources, which gives greater flexibility to both OEMs and end-users. On the other hand, growing popularity of electric vehicles (EVs) is likely to boost the prospects in this segment.
Europe remains the most attractive market, accounting for a leading revenue share currently. Strong emphasis on energy harvesting and regeneration in Europe is likely to strengthen the market in this region. Valued at nearly US$ 7 bn in 2016, the automotive energy harvesting and regeneration market in Europe is projected to grow to over US$ 30 bn by the end of 2025.
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Although regulations on energy conservation aren't as strict in APAC as in North America and Europe, the sheer volume of vehicles sold in the region continues to make energy harvesting and regeneration an attractive proposition in the region. Led by China and India, the market in APAC is likely to witness steady growth during the forecast period. China accounts for over 30% revenue share, followed by Japan and India.
Leading players profiled in the global energy harvesting and regeneration market include Robert Bosch GmbH, Tenneco Inc., Gentherm Incorporated Continental AG Denso Corporation, Delphi Automotive PLC, Faurecia SA, ZF Group, Ricardo PLC, and Torotrak PLC. The leading players are collaborating with niche players who have the expertise in automotive energy harvesting and regeneration.
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