Automotive Energy Recovery Systems Market Size, Share, Forecast, and Growth Opportunity

A device known as an automotive energy recovery system makes use of lost energy to power the engine or batteries and improve engine performance by recovering exhaust gases. The energy that is dissipated enhances the vehicle’s overall performance and reduces its greenhouse gas emissions. The majority of electric cars use regenerative braking systems, but turbochargers and exhaust gas recirculation are more common in diesel and gasoline-powered cars. These advancements in automotive technology allow the major market participants to dramatically increase their R&D spending in order to improve their technical know-how and product line. For instance, IHI Corporation and AVL LIST GmbH, the largest independent manufacturer of powertrain systems, signed a contract in April 2021 for investment in electric turbochargers for fuel cell systems as part of the transition from conventional gasoline and diesel-powered vehicles to hybrid (HEV), battery electric (BEV) and fuel cell (FCV) vehicles.
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