Press release
Global Automotive Regenerative Braking System Market Size To Grow At A CAGR Of 15.10% In The Forecast Period Of 2023-2028
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 15.10%
An automotive regenerative braking system recovers, stores, and improves the range of battery, hybrid, and plug-in vehicles, which makes it an ideal automotive system. In this regard, the increasing sale of these vehicles, owing to the increasing urbanisation, rising disposable income, and thriving transportation sector, is fuelling the automotive regenerative braking system market growth.
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In addition, automotive regenerative braking systems are known to bolster fuel efficiency by saving the energy generated by braking. Hence, the string norms by various governments aimed towards conserving energy to meet the sustainable development goals are further propelling the market numbers.
The increasing application of automotive regenerative braking system in ultracapacitors is another crucial market driving factor. It reduces the emission of CO2, increases the battery life, and reduces the overall weight of the vehicle.
Over the forecast period, the anticipated increase in demand for energy-efficient battery components in the vehicles is expected to provide impetus to the automotive regenerative braking system market. Further, the increasing popularity of electric vehicles among the youth owing to the increasing consciousness pertaining to the negative environmental effects of greenhouse gas emissions is likely to heighten the incorporation of automotive regenerative braking system in these vehicles in the coming years.
Automotive Regenerative Braking System Industry Definition and Major Segments
An automotive regenerative braking system refers to an automotive mechanism which recycles the energy wasted while using car brakes. It charges the high voltage battery system by converting the kinetic energy generated while braking, into electrical power. Automotive regenerative braking systems also support the traditional braking system by slowing the car down.
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Based on vehicle, the market can be segmented into:
Two Wheelers
Passenger Vehicles
Commercial Vehicles
On the basis of system, the market can be divided into:
Battery
Flywheel
Hydraulics
Ultra-Capacitors
By electric vehicle, the market can be segmented into:
Battery Vehicle
Hybrid Electric Vehicle
Plug-In Hybrid Electric Vehicle
On the basis of region, the market can be categorised into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Automotive Regenerative Braking System Market Trends
The key trends in the global automotive regenerative braking system market include the technical upgradations and innovations in the plug-in and hybrid vehicles because of the growing demand for these types of vehicles for personal and commercial use. In addition, the on-going transition from traditional braking system towards automotive regenerative braking system to improve the efficiency of vehicles is expected to be a crucial trend in the market.
The increasing demand for two wheelers owing to the expansion of mid-sized businesses is further improving the market dynamics by increasing the sale of automotive regenerative braking systems. Over the forecast period, the anticipated increase in penetration of two wheelers is likely to aid the automotive regenerative braking system market.
In regional terms, Asia Pacific holds a significant share in the market. Stringent regulations of governments across emerging economies such as India and China, aimed towards reducing and conserving electricity and strong foothold of automotive players in the region are driving the market growth. Meanwhile, North America is expected to witness a steady demand for hybrid vehicles which makes this region promising in terms of growth in the coming years.
Key Market Players
The major players in the automotive regenerative braking system market report are:
Robert Bosch GmbH
Continental AG
ADVICS CO., LTD.
ZF Friedrichshafen AG
Mazda Motor Corporation
Maxwell Technologies®
AISIN CORPORATION
Others
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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