Press release
Promotion of EVs against Fuel Price and CO2 Emission Concerns Profits Global Automotive Regenerative Braking System Market
The global automotive regenerative braking system (RBS) market is poised to record an action-packed growth as it rises at a significant CAGR of 33.24% in the face of a few testing situations. In a recent announcement by MarketResearchReports.biz, the inclusion of a vital report, titled “Global Automotive Regenerative Braking System Market 2016-2020,” has been brought to notice. Buyers of this publication are exposed to some of the telling findings about the future growth prospects and current scenario of the world market.
According to the analysts authoring the report, the world automotive RBS market has been anticipated to gain traction on the back of elevated fuel price setting and fuel duty levels. As a result, RBS and other efficient technologies have attained noteworthy importance. The growth in the global market is expected to be directly proportional to the demand for mid-sized electric vehicles (EVs), which are estimated to curb carbon emission by an impressive 51.0%. Thus, with an augmenting acceptance of hybrid electric vehicles (HEVs) and EVs due to emission control concerns, the demand in the market could also increase.
Multiple electromechanical elements causing design complications have been foreseen by the report authors as one of the few factors impeding the rise of the global automotive RBS market. Howbeit, the analysts also predict promising market opportunities that hold the potential to cover for the restraints. Integrated Mobis Electronic Brake (iMEB), a next-generation RBS, developed by Hyundai Mobis is a good instance of the quantum leap witnessed in the international market. Crucial vendors operating in the worldwide automotive RBS market, viz. Continental, Bosch, Hyundai Mobis, ZF Group, and Mazda Motor Corporation are extensively studied in the report.
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Hyundai Mobis is the first company to introduce iMEB in Korea. In the years to come, other Asia Pacific nations such as China are foretold to adopt pure versions of EVs and eventually contribute to the growth of the regional automotive RBS market. Besides this, there are optimistic policies formulated by governments therein which forward the adoption of hybrid cars, especially in Japan. By 2020, Asia Pacific has been analyzed to grab a humongous chunk of the global market share.
Out of the various types of automobiles using RBS, hybrid vehicles had lead the industry in the recent past. However, fully EVs and plug-in hybrid vehicles are envisaged to fetch a towering demand in developing nations such as India which lack sufficient charging stations. This is forecasted to in turn hike up the demand in the global automotive RBS market.
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Although the international automotive RBS market is characterized by a few count of manufacturers, the competition is prophesied to heat up as new entrants introduce innovative products to the industry. Technological innovation is expected to grow rapidly, mainly on the basis of the weight and size of automotive RBS designs.
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