Automotive Energy Recovery System Segmentation
Vehicle Type (Electric Vehicles, Hybrid Vehicles, Plug-in Hybrid Electric Vehicles)
The global automotive energy recovery system market is segmented and analyzed for demand and supply by vehicle type into electric vehicles, hybrid vehicles, and plug-in hybrid electric vehicles. Out of these vehicle type, the electric vehicles segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing demand of electric vehicles (EV) along with the surge in the sale for electric vehicles worldwide. For instance, it is forecasted that by 2040, EVs and other zero-emission vehicles will account for almost 70% of new vehicle sales. Automotive energy recovery systems are used in electric cars for energy recover management. It can convert the kinetic energy into electrical when braking. Hence, this factor is expected to hike the growth of the segment over the forecast period.
Application (Passenger Vehicle, Commercial Vehicle)
The global automotive energy recovery system market is also segmented and analyzed for demand and supply by application into passenger vehicle and commercial vehicle. Amongst these segments, the commercial vehicle segment is expected to garner a significant share. The segment is expected to grow on the back of higher utilization of automotive energy recovery systems in commercial vehicles across the globe. Commercial vehicles are used for the transportation of passenger and transport goods to provide profit for businesses and individuals. Some of the different types of commercial motor vehicles (CMVs) are taxicabs, pickup trucks, busses, trucks, vans, travel trailers, and many more. As of 2021, the global production of commercial vehicle rises from 22 million units while the sales of these vehicles estimated to hit around 700,000 units in the similar year across the globe.
Our in-depth analysis of the global automotive energy recovery system market includes the following segments
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By Vehicle Type |
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By Application |
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