Exhaust Heat Recovery System Market Size, Share, Growth Analysis, By Technology (Conventional and Future Technology), By Mode(Exhaust Gas Recirculation (EGR), Turbocharger, Organic Rankine Cycle, and Thermoelectric Generator), By Vehicle Type(Passenger Cars, Light Commercial Vehicles, Trucks, and Buses), By Component(EGR Component, Turbocharger Component, Organic Rankine Cycle Component, and Thermoelectric Generator Component), By Application(Automotive, Industrial, Residential, and Commercial Sectors), By Region - Industry Forecast 2024-2031

Asia Pacific dominated the market with a 56% share by 2022. Asia Pacific is expected to witness the highest growth during the forecast period. Government regulations in this area are becoming increasingly stringent; For example, there are BS-VI standards which have been implemented by the Government of India to curb the emissions of vehicles. Coupled with environmental regulations, exhaust heat recovery systems will become increasingly popular as they not only reduce the amount of pollution emitted by vehicles, but also improve their fuel economy.

North America is anticipated to exhibit moderate growth in the global exhaust heat recovery system market. Government regulations on energy conservation and efficiency, tax breaks and other government incentives are some of the factors that make the market apart from the fact that the region is known for its continuous technological development period all in the heat recovery business providing ongoing opportunities for the market growth. Moreover, it is believed that the US. and contributed significantly to the growth of the North American market due to the widespread use of combustion systems to improve the exhaust efficiency of coal-fired power plants and generate zero-carbon electricity.