Automotive Regenerative Braking System Market is expected to witness significant growth during the forecast period
Market Overview:
Automakers are trying to develop the energy and fuel-efficient vehicles, to mitigate the carbon emissions and rising cost of fuels, this changing landscape is expected to fuel the use of regenerative braking system in automotive vehicles. Regenerative braking system coverts the kinetic energy of the vehicle produced during deceleration of the vehicle into electrical energy. This electric energy is then stored as electricity and then returned to the drive train during acceleration or whenever required. This energy can be utilized in other applications such as start-stop function, headlights, vehicle’s interior electronics and others.
The sale of electric vehicles is on its peak all over the world and regenerative braking system has become an important feature in hybrid vehicles, electric vehicles, and plug-in hybrid electric vehicles. Rising concerns to control vehicular emission, according to the International Air Agency, nearly 6.5 million deaths occur each year due to poor air quality. Governments of various nations, like U.S., Germany, and India, are launching the programs and policy related to vehicle emission and forcing the automakers to adopt certain technologies that can curb the increasing exhaust gas emissions and fuel consumption, this is expected to drive the market growth for regenerative braking system. However, high installation and maintenance cost of the regenerative braking system is expected to restrain the market growth during forecast period.
Key Players:
The prominent players in the automotive regenerative braking system market include Continental AG (Germany), Denso Corporation (Japan), ADVICS North America, Inc. (US), Autoliv Nissin Brake Systems Co., Ltd. (Japan), Mazda Motor (Japan), Delphi Automotive PLC (US), Faurecia SA (France), TRW automotive (US), Robert Bosch GMBH (Germany), Hyundai Mobis (South Korea), ZF Friedrichshafen AG (Germany), are among others.
The global automotive regenerative braking system market is estimated to witness ~11% CAGR during the period from 2018 to 2023.
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Segmentation:
Automotive regenerative braking system market is segmented on the basis of vehicle type, system type, electric vehicle, and region. On the basis of vehicle type, the market has been segmented into two wheelers, passenger vehicles, commercial vehicles. Passenger vehicle sub segment is expected to lead the vehicle type segment in terms of revenue during the forecast period due to its easiness in handling, advanced features and increased consumption of passenger cars in the developing and highly populated countries such as China and India.
On the basis of the system type, the market has been segmented into battery, flywheel, hydraulics, and ultra-capacitors. Hydraulic sub-segment is expected to hold the major market chunk during the forecast period, Hydraulic regenerative system provides better potential efficiency, more power density, and a better energy storage efficiency and this is expected to drive the demand of hydraulic regenerative system.
On the basis of the Electric vehicle, the market has been classified into battery vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Hybrid electric vehicle sub-segment is expected to register the higher growth rate during the forecast period, this growth is attributed to the increasing adoption rate of hybrid electric vehicles in developed regions like US, Europe and in countries like China and Japan.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the automotive regenerative braking system market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.
