North America Automotive Energy Recovery System Market Size, Share & COVID-19 Impact Analysis, By Subsystem (Turbocharger, Exhaust Gas Recirculation (EGR), and Regenerative Braking System), By Propulsion (ICE and Electric), By Vehicle (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Regional Forecast, 2023-2030

North America holds a substantial share in the global automotive energy recovery system market. North America automotive energy recovery system market size is projected to grow at a CAGR of 6.5% during the forecast period. Global market size is projected to grow from USD 17.12 billion in 2022 to USD 29.60 billion by 2030.

The rising demand for automotive energy recovery systems to be integrated into vehicles is due to stringent fuel efficiency and emission regulations. Moreover, the growing adoption of electric vehicles, which leads to increased demand for energy recovery systems for increased range and efficiency, will drive market growth during the forecast period.

Our report on the North America automotive energy recovery system market covers the following countries/regions – U.S., Canada, and Mexico.

LATEST TRENDS

Growing Demand for Regenerative Braking System Drives Market Growth

Several companies are leaning toward integrating regenerative braking systems in electric vehicles. For instance, in September 2020, Guident, which is a portfolio company of Tekcapital and a software solution developer for autonomous vehicles, acquired regenerative shock absorber technology.

Due to the advantage of increasing the driving range of electric vehicles, regenerative braking systems are becoming a vital factor in the market growth of electric vehicles. Apart from this, the development in the turbocharger and exhaust gas recirculation (EGR) system (to provide engine efficiency by recycling exhausted gasses) has increased to adopt the advanced technology and increase the overall performance of the vehicle, which also thrives the market. This alternatively fuels the North America automotive regenerative system market growth.

DRIVING FACTORS

Government Incentives and Tax Credits on Electric Vehicles Drive the Market.

Governments in North America offer various incentives to encourage the adoption of energy-efficient vehicles, including those equipped with energy recovery systems. For example, the U.S. Federal government offers tax credits for the purchase of hybrid and electric vehicles. For instance, the government of the U.S. provides a tax credit of USD 7,500 under Internal Revenue Code Section 30D for buying electric vehicles in or after 2023.

Similarly, a tax credit of up to USD 7,500 was provided for EV owners in or before 2022. This encourages the populace to buy electric vehicles, which are energy efficient. And the adoption of electric vehicles, which are equipped with energy recovery systems such as regenerative braking systems and regenerative suspension systems, drives market growth in the region.

RESTRAINING FACTORS

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Lack of Electric Vehicle Infrastructure Restrains Market Growth

Energy recovery systems are most effective in hybrid and electric vehicles. However, the availability of charging infrastructure limits the adoption of such vehicles. Thus, the lack of electrical vehicle infrastructure restrains market growth. The market potential for electric vehicles and energy recovery systems is limited without widespread charging infrastructure.

Several energy companies and EV charging providers are focused on expanding their businesses by establishing charging stations to cater to this issue. The region's government aims to establish electric vehicle charging stations all around the respective countries. For instance, in September 2022, the Biden administration announced its approval of the plan to create a national electric vehicle charging network across 34 states and Puerto Rico. This will boost the increase in the number of electrical vehicles, developing the market growth for this industry.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, Tenneco Inc., Honeywell Corporation, and Cummins Inc. are the key players in the North America market, thanks to strong product offerings and active involvement in R&D investments that have accelerated product launches and approvals in the forecast period. These companies are focused on strengthening their product portfolio and distribution network through strategic collaboration and partnerships to increase their North America automotive energy recovery system market share.

LIST OF KEY COMPANIES PROFILED:

• Delphi Technologies (BorgWarner Inc.) (U.S.)


• Tenneco Inc. (U.S.)


• Cummins Inc. (U.S.)


• Energy Recovery (U.S.)


• Honeywell Corporation (U.S.)


• Stanadyne (U.S.)


• Advics (U.S.)


• Maxwell Technologies (U.S.)


• VALEO SERVICE (U.S.)


• Precision Turbo & Engine (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2022 − General Motors launched a feature that will be standard in its Utlium-based electric vehicles. The feature helps the EV capture and reuse waste energy. This increased EVs' driving range, reduced battery energy needed for heating, increased charging speed, and even enabled sportier driving. The energy recovery system will provide a 10% increase in driving range for the electric vehicles from General Motors.


• May 2022 − Stanadyne, a fuel and air management system supplier, developed a modular, scalable exhaust gas recirculation (EGR) valve with a self-cleaning function that will help to mitigate carbon buildup that can cause sticking and eventual valve failure. The unique design utilises an in-line controller to enhance the reliability of electronic components within high-temperature surroundings, offering enhanced engine controller interface flexibility.


• July 2020 − Ford launched its all-electric MUSTANG MACH-E 1400 prototype in collaboration with RTR Vehicles and demonstrated the performance possibilities of electric propulsion. The MUSTANG MACH-E 1400 is incorporated with an electronic brake booster that allows a series regenerative braking system combined with ABS and stability control to optimize the vehicle's braking system. This braking system was developed by Brembo.

REPORT COVERAGE

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The market report provides qualitative and quantitative insights on the market with detailed analysis of the North America market size & growth rate for all possible segments in the market. Along with the North America automotive energy recovery system market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights transpired in the report are overview of the number of procedures, an overview of price analysis of types of products, overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships and, the impact of COVID-19 on the market.

Report Scope & Segmentation