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Automotive Regenerative Braking Market Competitive Landscape, Key Drivers, Major Players, Outlook And Forecast To 2033
Automotive Regenerative Braking Market Overview
Automotive Regenerative Braking Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $12.1 billion In 2028 At A CAGR Of 16.2% :
The automotive regenerative braking market size has grown rapidly in recent years. It will grow from $5.64 billion in 2023 to $6.64 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to environmental awareness, hybrid and electric vehicle adoption, government regulations on fuel efficiency, automotive industry competitiveness, increased popularity of regenerative braking in motorsports.
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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Automotive Regenerative Braking Market Major 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 Driver - 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.
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Prominent Trend - 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.
Automotive Regenerative Braking Market Players
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.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive regenerative braking market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive regenerative braking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Regenerative Braking Market Report Structure
3. Automotive Regenerative Braking Market Trends And Strategies
4. Automotive Regenerative Braking Market - Macro Economic Scenario
5. Automotive Regenerative Braking Market Size And Growth
…..
27. Automotive Regenerative Braking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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