Exhaust Gas Heat Recovery System Market size is estimated to be USD 1.5 Billion in 2024 and is expected to reach USD 3.0 Billion by 2033 at a CAGR of 8.5% from 2026 to 2033.
The global Exhaust Gas Heat Recovery System (EGHRS) market was valued at approximately USD 45.7 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.9% during the forecast period. This growth is primarily driven by the increasing demand for energy efficient systems and stricter emissions regulations across the automotive and industrial sectors. EGHRS technology plays a vital role in improving overall energy efficiency by capturing and reusing waste heat from exhaust gases, significantly reducing fuel consumption and greenhouse gas emissions. The market expansion is also supported by rising fuel costs, which are pushing industries to adopt systems that lower operational expenditures through heat recovery.
Regionally, Asia Pacific held the largest share of the Exhaust Gas Heat Recovery System market in 2022, accounting for over 40% of global revenue, fueled by high vehicle production rates and increasing implementation of emission norms in countries like China, Japan, and South Korea. Europe followed as the second largest market due to the early adoption of advanced automotive technologies and strong environmental policies aimed at decarbonization. North America also demonstrated substantial growth potential with rising investments in hybrid vehicles and clean energy projects. Emerging economies in Latin America and the Middle East & Africa present untapped opportunities driven by expanding industrial bases and growing awareness around sustainable energy practices. These regions are expected to witness accelerated adoption of EGHRS in the coming years, particularly in sectors like power generation, marine, and heavy duty transportation.
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Kawasaki
Sinoma Energy Conservation
Kesen Kenen
Boustead International Heaters
CITIC Heavy Industries
Thermax
Lingda Group
Ormat
Turboden
Exergy International
Enertime
ElectraTherm
E-Rational
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Exhaust Gas Heat Recovery System Market
Steam Rankine Cycle
Organic Rankine Cycle
Direct Expansion
Heat Pipe Systems
Industrial
Marine
Automotive
Commercial
Power Plants
Manufacturing Facilities
Transportation Fleets
Residential Buildings
Heat Exchangers
Turbines
Pumps
Control Systems
Natural Gas
Diesel
Biodiesel
Coal
Renewable Sources
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Exhaust Gas Heat Recovery System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Exhaust Gas Heat Recovery System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Exhaust Gas Heat Recovery System Market, By Type
6. Global Exhaust Gas Heat Recovery System Market, By Application
7. Global Exhaust Gas Heat Recovery System Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Exhaust Gas Heat Recovery System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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