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Europe holds a certain share in the global automotive energy recovery system market. Europe automotive energy recovery system market size is projected to grow at a CAGR of 5.3% 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.
Several major automotive manufacturers in the region are constantly focusing on the development of new and advanced technology that will help in the growth of the automotive industry. For instance, in November 2021, Continental AG launched a new regenerative braking system named – MK C2. It is designed to install in a compact and lighter vehicle, providing high performance and increasing the range of electric vehicles, which can benefit automated driving. The demand for energy-efficient vehicles to cater to the zero-emission goals of the European Union drives the demand for this market in the region.
Our report on the European market covers the following countries/regions – Germany, U.K., France, and Rest of the Europe.
Focus on Sustainability Augments the Market Growth in Europe
Many European companies are focusing on sustainability and implementing sustainability strategies, such as reducing their carbon footprint. Energy recovery systems can help companies achieve their sustainability goals by reducing emissions and improving fuel efficiency. Therefore, companies in this industry are focused on the development of technologies such as regenerative, turbocharger, and exhaust gas recirculation (EGR) to contribute toward the goal of a sustainable future, thus fueling Europe automotive energy recovery system market growth during the forecast period.
Strict Vehicular Emission Rules and Standards Drive the Market
In January 2020, the European Commission announced that Regulation (EU) 2019/631 was put into force, setting CO2 emission performance standards for new passenger and commercial vehicles. With the help of this, the average CO2 emissions from passenger cars registered in Europe decreased by 12%.
New proposals were introduced in July 2021.
However, these standards for passenger cars and commercial vehicles have forced automotive manufacturers in the region to develop energy-efficient systems, including automotive energy recovery systems. This drives market growth in Europe.
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Regulatory Uncertainty for Energy-efficient Vehicles Hampers the Market Growth
The regulatory environment for energy-efficient vehicles in Europe is evolving rapidly, which could create uncertainty for OEMs and buyers. Regulation changes, such as emissions standards and tax incentives, could affect the demand for energy recovery systems and create challenges for OEMs to comply with new regulations.
In terms of the competitive landscape, Continental AG, Robert Bosch GmbH. and Mahle GmbH are the key player in the Europe market thanks to strong product offerings and active involvement in R&D investments to accelerate 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 part in the Europe automotive energy recovery system market share in the Europe market.
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The market report provides qualitative and quantitative insights on the market and a detailed analysis of the Europe market size & growth rate for all possible segments in the market. Along with the Europe automotive energy recovery system market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented 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.
CAGR of 5.3% from 2023 to 2030
Value (USD billion)
Subsystem; Propulsion; Vehicle; and Country/ Sub-Region
By Country/ Sub-Region
Growing at a CAGR of 5.3%, the market will exhibit steady growth in the forecast period (2023– 2030).
Strict vehicular emission rules and standards drive the market.
Rest of Europe dominated the market in 2022.
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