Press release
Exploring Trends in Automotive Regenerative Braking: Global Market Report 2024
Automotive Regenerative Braking
The automotive regenerative braking market size is expected to see rapid growth in the next few years. It will grow to $12.1 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to increased electric vehicle market, stricter emission standards, advancements in energy recovery systems, autonomous vehicle integration, consumer demand for sustainable technologies. Major trends in the forecast period include technological advancements in brake systems, integration of regenerative braking in conventional vehicles, development of lightweight materials for brake systems, continuous improvement in energy conversion efficiency, collaboration between automakers and technology suppliers
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Market Overview -
Automotive regenerative braking refers to a type of kinetic energy recovery system, designed to transfer the kinetic energy of an object in motion into stored energy to slow the vehicle down and increase fuel efficiency. This electric energy is stored in the energy storage unit of the vehicle and utilized in various applications of the vehicle such as headlights, start-stop function and to power the vehicle's interior electronics. The automotive regenerative braking devices are used to increase fuel efficiency and the range of the vehicle.
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Surge In Electric Vehicle Sales And Its Impact On The Automotive Regenerative Braking Market
The increase in sales of electric vehicles across the globe is contributing to the growth of the automotive regenerative braking market. A regenerative braking system is found in both electric vehicles and plug-in hybrid electric vehicles and recharges the battery during braking. This technology is used in electric vehicles to mitigate energy loss during braking. The increase in the acquisition of electric vehicles by customers across the globe is expected to increase the demand for new and innovative regenerative braking systems. For example, in July 2023, according to International Energy Agency (IEA), a France-based provider of policy recommendations, analysis and data on the entire global energy sector, over 2.3 million electric cars were sold in the first quarter of 2023, about 25% more than in the same period last year. Under the IEA Stated Policies Scenario (STEPS), the global outlook for the share of electric car sales based on existing policies and firm objectives has increased to 35% in 2030, up from less than 25% in the previous outlook. Therefore, an increase in sales of electric vehicles across the globe is expected to boost the automotive regenerative braking market during the forecast period.
Competitive Landscape -
Major companies operating in the automotive regenerative braking market report are Aisin Seiki Co. Ltd., Continental AG, Hyundai Mobis Co. Ltd., Mazda Motor Corporation, Toyota Motor Corporation, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, BorgWarner Inc., Porsche Automobil Holding SE, Advics Co. Ltd., Faurecia SA, Maxwell Technologies Inc., Eaton Corporation plc, Delphi Automotive plc, Magna International Inc., Punch Powertrain NV, Adgero SAS, Skeleton Technologies Group OU, Autoliv Nissin Brake Systems Co. Ltd., Magneti Marelli SpA, Bell Intercoolers Inc., Rad Co. Ltd., Valeo SA, Spectra Premium Industries Inc., Conflux Technology Pty Ltd., Zhejiang VIE Science & Technology Co Ltd., Federal-Mogul LLC, Akebono Brake Industry Co Ltd., Nisshinbo Brake Inc., Hitachi Automotive Systems Ltd.
Technological Advancements Shaping The Future Of Automotive Regenerative Braking Systems
Technological advancement is a key trend gaining popularity in the automotive regenerative braking market. The company operating in the automotive regenerative braking systems market are developing innovative systems with greater energy recovery and increasing the driving range of electric vehicles. For instance, in January 2021, ZF Friedrichshafen AG, a Germany-based developer and supplier of systems for passenger vehicles and commercial vehicles, launched a new brake control system, which optimizes the recovery of energy during braking and increases the driving range of the vehicle.
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Key Segments -
The automotive regenerative braking market covered in this report is segmented -
1) By Type: Electric Regenerative Braking System, Hydraulic Regenerative Braking System, Kinetic Regenerative Braking System
2) By Propulsion: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)
3) By Application: Two Wheelers, Passenger Cars, Commercial Vehicles, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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