The global automotive regenerative braking systems market to grow at 11% CAGR during the forecast period assert Market Research Future (MRFR) in its latest report. In recent years, the automotive sector has witnessed a strong surge in terms of production and vehicle sales. Demand for passenger and commercial vehicles remains on an upward trend. However, the pressure has continued to grow on the industry to development automotive solutions that eco-friendly or environmentally sustainable. Governments across the world are launching initiatives to curb to CO2 emission. Vehicles make a significant contribution to the rising carbon footprint. This is prompting the sector to focus on technologies and solutions that help in making vehicles viable, fuel-efficient and future-ready. Regenerative braking system is an innovative automotive component, which is witnessing rapid adoption in modern vehicles both commercial and passenger. It plays an important role in determining the fuel intake by a vehicle. Integration of regenerative braking system improves the fuel economy of a vehicle, subsequently leading to lower carbon emission.
A number of brands have made this system a standard in their cars in order to capture particular buyer cluster that are inclining towards eco-friendly cars. Regenerative braking system is assembled using parts, which generate power from vehicles braking component; the energy is stored in reservoirs such as batteries, flywheel and ultracapacitors. This energy is utilized to power various applications such as headlights, start-stop function and interior electronics. The power recovery capacity usually depends on vehicle speed, movement and stopping pattern. By using regenerative braking systems, nearly 5% to 20% energy can be recovered in an average. It is a highly complex system and falls under the high-end category of automotive components. This undermines the market proposition of automotive regenerative braking system to an extent. Emphasis is being placed on making these braking systems cost-effective.
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Global Automotive Regenerative Braking System Market: Segmental Analysis
The segmental analysis of the market has been conducted on the basis of system type, vehicle type, and electrical vehicle. The electric vehicle segment is further sub-segmented into hybrid electrical vehicle, plug-in hybrid electrical vehicle and battery vehicle. Based on system type, the market has been segmented into flywheel, battery, ultra-capacitors and hydraulics. Based on vehicle type, the market has been segmented into passenger vehicles, commercial vehicles and two wheelers.
Global Automotive Regenerative Braking System Market: Regional Analysis
Regions mentioned in the report include Europe, North America and Asia Pacific (APAC) among others. North America holds a predominant position in the global automotive regenerative braking market. The region is expected to showcase lucrative market opportunities in the foreseeable future. Meanwhile, the market Asia Pacific is likely to post a relatively higher growth rate over the next four years. Rapid urbanization in several APAC countries such as China, Indonesia, India among others has augured well for market players functioning in the region. Various micro and macroeconomic factors including growing middle-class population, rising quality of lifestyle and growing disposable pay has creating an environment for the automotive sector to thrive on. In addition, APAC is viewed as a key market for hybrid and plug-in hybrid vehicles. The growth of the automotive sector in APAC has been substantial in recent years, which is has reflected favorably on its sub-sectors.
Global Automotive Regenerative Braking System Market: Competitive Landscape
Some of the notable market players covered in MRFR’s report include Robert Bosch GMBH (Germany), ZF Friedrichshafen AG (Germany), ADVICS North America, Inc. (US), Mazda Motor (Japan), Faurecia SA (France), Continental AG (Germany), Denso Corporation (Japan), TRW automotive (US), Hyundai Mobis (South Korea), Delphi Automotive PLC (US) and Autoliv Nissin Brake Systems Co., Ltd. (Japan).