Is there an efficient algorithm to generate a 2D concave hull?

This paper discusses the Efficient generation of simple polygons for characterizing the shape of a set of points in the plane and provides the algorithm. There's also a Java applet utilizing the same algorithm here.

One of the former students in our lab used some applicable techniques for his PhD thesis. I believe one of them is called "alpha shapes" and is referenced in the following paper:

http://www.cis.rit.edu/people/faculty/kerekes/pdfs/AIPR_2007_Gurram.pdf

That paper gives some further references you can follow.

The guys here claim to have developed a k nearest neighbors approach to determining the concave hull of a set of points which behaves "almost linearly on the number of points". Sadly their paper seems to be very well guarded and you'll have to ask them for it.

Here's a good set of references that includes the above and might lead you to find a better approach.