Exhaust Heat Recovery System Market to Grow with a CAGR of 6.77% through 2029

Stringent environmental regulations, particularly focused on reducing emissions and improving energy efficiency, compel industries to adopt exhaust heat recovery technologies are the factors driving market in the forecast period 2024-2028.

According to TechSci Research report, “Exhaust Heat Recovery System Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, The Global Exhaust Heat Recovery System Market was valued at USD 30.29 Billion in 2023 and is expected to reach USD 44.70 Billion by 2029 with a CAGR of 6.77% during the forecast period. The Global Exhaust Heat Recovery System Market is experiencing substantial growth, driven by the imperative to enhance energy efficiency, reduce emissions, and meet sustainability goals across diverse industries. At the core of this market is the adoption of technologies designed to capture and utilize waste heat from exhaust gases generated by industrial processes and automotive systems. In the automotive sector, the market is propelled by stringent emission standards and the automotive industry's commitment to reducing the carbon footprint. Exhaust Heat Recovery Systems play a crucial role in improving fuel efficiency and mitigating environmental impact, particularly in internal combustion engines and hybrid vehicles. The integration of components like Organic Rankine Cycle (ORC) systems, thermoelectric generators (TEG modules), and advanced heat exchangers underscores the sophistication and versatility of these systems in optimizing energy utilization.

The Global Exhaust Heat Recovery System (EHRS) market is gaining significant traction as industries increasingly focus on energy efficiency and sustainability. Exhaust heat recovery systems are technologies that capture and reuse waste heat from exhaust gases, helping to improve overall energy performance. They have applications across various industries, such as automotive, manufacturing, power generation, and more. The rising demand for energy-efficient solutions is being driven by government regulations, environmental concerns, and the need for cost reduction in energy-intensive processes. As industries worldwide seek ways to mitigate energy losses and reduce emissions, the adoption of EHRS has become a key factor in ensuring compliance with environmental standards and achieving operational efficiency. The automotive sector, in particular, is a major driver of growth in the EHRS market. With stringent regulations regarding fuel efficiency and carbon emissions, automakers are turning to exhaust heat recovery technologies to enhance vehicle performance while reducing fuel consumption. The automotive industry's shift toward electric vehicles (EVs) has also influenced the EHRS market, as hybrid and plug-in hybrid vehicles rely on advanced thermal management to optimize energy usage. Furthermore, the integration of EHRS in conventional internal combustion engine vehicles allows for better utilization of waste heat, contributing to both improved fuel efficiency and lower emissions. The development of more efficient and compact EHRS solutions tailored to specific vehicle types is expected to further propel the market growth in the coming years.

Technological advancements also play a critical role in the EHRS market. Over the years, innovations in heat exchanger designs, materials, and integration systems have made EHRS more effective and versatile across different industries. For instance, the development of organic Rankine cycle (ORC) systems, which convert low-temperature waste heat into useful power, is gaining momentum. Additionally, the use of advanced thermal storage systems that store excess heat for later use has improved the overall flexibility and efficiency of EHRS solutions. As research and development continue, the market is likely to witness the introduction of next-generation technologies that offer even greater efficiency, lower costs, and more seamless integration with existing systems. The global EHRS market is characterized by a competitive landscape, with numerous companies offering a wide range of solutions. The companies are focused on product innovation, partnerships, and acquisitions to expand their market presence and meet the growing demand for energy-efficient solutions. Regional markets also show considerable variations, with developed regions such as North America and Europe witnessing significant adoption due to stringent environmental regulations. In contrast, emerging markets in Asia-Pacific are expected to experience rapid growth as industrialization and urbanization continue to accelerate. The increasing focus on sustainability, coupled with advancements in EHRS technology, suggests that the market will continue to evolve and expand, presenting new opportunities for both established players and new entrants.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on " Global Exhaust Heat Recovery System Market.”

The Global Exhaust Heat Recovery System Market is segmented into component, technology, vehicle type, and region.

Based on vehicle type, The commercial vehicle segment is the fastest-growing in the Exhaust Heat Recovery System (EHRS) market, driven by the increasing demand for fuel efficiency and the need to meet stringent environmental regulations. Commercial vehicles, such as trucks and buses, are significant contributors to global emissions, prompting manufacturers to invest in technologies like EHRS. These systems recover exhaust heat to improve engine efficiency, reducing fuel consumption and emissions. As governments worldwide enforce stricter fuel efficiency standards and environmental norms, the adoption of EHRS in commercial vehicles is expected to continue growing, making it a crucial segment in the overall market.

Based on region, North America is the fastest-growing region in the Exhaust Heat Recovery System (EHRS) market, primarily due to increasing demand for energy efficiency and the implementation of stringent environmental regulations. Governments in the U.S. and Canada have introduced several policies promoting the reduction of vehicle emissions, making it essential for industries to adopt advanced technologies like EHRS. Additionally, the growing trend of reducing operational costs for commercial fleets has led to an uptick in the adoption of heat recovery systems. As manufacturers aim to comply with stricter fuel economy standards, North America’s demand for EHRS continues to grow rapidly, making it a key region in the global market.

Major companies operating in Global Exhaust Heat Recovery System Market are:

• FORVIA Group
• MAHLE GmbH
• Continental AG
• DENSO Corporation
• Honeywell International Inc.
• Dana Incorporated
• Marelli Holdings Co., Ltd.
• PHINIA Inc
• Mitsubishi Heavy Industries, Ltd
• Cummins Inc

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“The Global Exhaust Heat Recovery System (EHRS) market is experiencing significant growth, driven by rising energy efficiency demands across various industries. Stringent regulations aimed at reducing emissions and improving fuel efficiency in sectors like automotive, power generation, and manufacturing are fueling market expansion. The automotive industry's shift towards electric and hybrid vehicles is further promoting the adoption of EHRS technologies to optimize energy usage and reduce waste heat. Additionally, industrial sectors such as cement, steel, and chemical manufacturing are increasingly investing in heat recovery solutions to improve cost efficiency and comply with environmental standards. Technological advancements, including the development of advanced heat exchangers and organic Rankine cycle systems, are enhancing the performance and versatility of EHRS. As sustainability becomes a global priority, the market is poised for continued growth in the coming years.,” said Mr. Karan Chichi, Research Director with TechSci Research, a research-based management consulting firm.

“Exhaust Heat Recovery System Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Component (Turbine, TEG Module, Compressor, Evaporator, EGR Valve & Cooler, Condenser And Others), By Technology (Exhaust Gas Recirculation (EGR), Thermoelectric Generator (TEG), Organic Rankine Cycle (ORC), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Region & Competition, 2019-2029F”, has evaluated the future growth potential of Global Exhaust Heat Recovery System Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Exhaust Heat Recovery System Market.

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