Automotive Energy Recovery Systems Market
Automotive Energy Recovery Systems Market was valued at 7.121 billion in 2016, exhibiting a CAGR of 22.28% during the forecast period of 2016-2024
Energy recovery systems assist in changing a substantial amount of waste energy and store and reuse in another useful form for driving vehicle functions or giving the extra boost to the engine when required. For example, regenerative braking system changes some of its kinetic energy into charging the battery of electric vehicles. The major factors driving the demand for Automotive Energy Recovery Systems Market are eco-friendly systems, an expedition for improved vehicle performance, and strict fuel economy standards.
Progressively strict government rules for emission and performance in the passenger car segment in various regions such as Europe and Asia-Pacific, mainly in China, India, and Japan is projected to increase as well. This, in turn, is projected to drive the automotive energy recovery systems market. Supportable growth in the Automotive Energy Recovery Systems Market will largely depend upon the upcoming rules in various countries. In future, these systems are to become compulsory in developed countries providing more growth opportunities for the Automotive Energy Recovery Systems Market.
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