The global electric vehicle (EV) energy harvesting system market is anticipated to grow at a significant CAGR of 18.1% during the forecast period (2022-2028). EVs store energy for later use since they use energy harvesting and regeneration systems. As a result, growth in the global electric vehicle energy harvesting system market will be fueled by the rise in demand for vehicles that run on alternative fuels, as well as the introduction of regulations pertaining to carbon footprint reduction and global warming. According to an EV Volume report, over 907,000 electric cars were sold globally in December 2021, representing around a 60% increase from December 2020. According to the report, EV sales climbed significantly in December 2021 compared to November’s sales of over 720,000 units. EVs accounted for 11% of total vehicle sales in December around the globe. Additionally, all-electric automobiles accounted for the vast bulk of new plug-in car sales.
The need for energy has increased as the population has grown. Furthermore, available energy in the ecosystem is wasted, either directly or indirectly. As a result, the ability of energy harvesting systems to capture this energy and transform it into electrical energy, which can then be employed in autonomous electronic vehicles is propelling the global electric vehicle energy harvesting system market forward.
Energy harvesting systems have the advantage of allowing linked devices to run for an indefinite period of time without causing harm to the environment. Also, among the various sources of ambient energy, such as light energy, thermal energy, radiofrequency energy, kinetic energy, chemical/biological energy, and others, energy harvesting systems most typically utilize solar, thermal, and vibrational forms of energy.
Factors such as the widespread use of IoT devices in automation, the growing urban population, the rising demand for safe, energy-efficient, and long-lasting systems, the growing trend toward green energy, the penetration of energy harvesting technology in the electric vehicle, and favorable government initiatives are expected to also propel the market forward during the forecast period. For instance, India has changed it’s National Tariff Policy 2016 to incorporate provisions for renewable generating and purchasing commitments. State-owned power distribution companies must purchase 8% of their energy from solar by 2022, according to the policy.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Association for Iron & Steel Technology,Komatsu, Mars, Inc., Northrop Grumman, and Tesla, among others.
A full report Electric Vehicle Energy Harvesting System Market of is available at: https://orionmarketreports.com/electric-vehicle-energy-harvesting-system-market/108696/
Global Electric Vehicle Energy Harvesting System Market Report by Segment
By Type
- Power Battery
- Battery Management System
By Application
- Pure Electric Vehicles
- Hybrid Electric Vehicles
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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