Market Leaders - Exhaust Heat Recovery System Market
The exhaust heat recovery system market is primarily driven by the increasing stringency toward automotive emissions across the globe. The exhaust heat recovery system market is projected to grow at a CAGR of 10.38% from 2018 to 2025. From a market size of USD 32.54 billion in 2018, it is projected to reach USD 64.94 billion by 2025.
The exhaust heat recovery system market for automotive is dominated by a few globally established players such as BorgWarner (US), Continental (Germany), Faurecia (France), Denso (Japan), and MAHLE (Germany). These companies developed new products, adopted expansion strategies, obtained supply contracts, established collaborations & partnerships, and used mergers & acquisitions to gain traction in the exhaust heat recovery system market. Companies adopted expansion, supply contract, and new product development as the key strategies to excel in the market.
In March 2018, BorgWarner inaugurated a new production plant for turbochargers in Thailand. With a total area of 69,965 square feet (6,500 square meter), the facility includes a leading-edge production line for advanced turbocharging solutions. Similarly, in April 2018, Continental established a new plant in Wuhu, Auhui. The new plant would be built on a site of 80,000 square meters in the Wuhu Economic Development Zone. It would produce sensors, actuators, fuel and exhaust gas post-processing systems, and other drivetrain components. The company plans to invest USD 32.4 million in site acquisition and plant construction. The first-phase construction would take place on a site of 20,000 square meter and a building of 8,000 square meter. The completion of construction and the operational launch is scheduled in the third quarter of 2019.
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Similarly, the players adopted the supply contract strategy to gain traction in the market. In March 2016, Faurecia inked a supply contract with Hyundai for its Hyundai Ioniq hybrid and plug-in hybrid for the exhaust heat recovery system. The Faurecia EHRS weighs less than 3 kg and brings a reduction in fuel consumption of up to 7% owing to faster engine warm-up and increased use of the electric mode. In June 2016, BorgWarner entered into a supply contract with Hyundai for its advanced EGR valve for the new Hyundai Ioniq sedan and the Kia Niro crossover SUV. BorgWarner's compact, optimized EGR valve contributes to the vehicle’s lower emissions and leads to 3% increase in fuel economy.
With the stringency in the emission regulations, the manufacturers are investing in R&D activities and developing new products to meet the unmet needs. For instance, in February 2014, Denso Corporation developed the world's first exhaust gas recirculation (EGR) valve unit that integrated an air intake throttle valve and an EGR valve. An EGR valve is a component in the EGR system of a diesel engine. Conventionally, an air intake throttle valve and an EGR valve are separately installed in an EGR system. By integrating the two valves into one unit, Denso combined the ducts and reduced the number of connectors, thereby succeeded in reducing the size to half of the previous model.
Related Reports:
Exhaust Heat Recovery System Market by Technology (EGR, Turbocharger, ORC, TEG), Component (EGR Valve & Cooler, Turbine, Compressor, Evaporator, Condenser, TEG Module), Vehicle (PC, LCV, Truck, Bus, Hybrid, OHV) and Region - Global Forecast to 2025
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