Automotive Regenerative Braking Systems Market Size Worth USD 8.19 Billion By 2027 | Emergen Research

Automotive Regenerative Braking System Market

The Global Automotive Regenerative Braking System Market is forecasted to reach USD 8.19 Billion by 2027. Increasing the use of hybrid and battery electric cars worldwide would boost the scale of the regenerative braking industry in the automobile field. Nowadays, all passenger and freight cars are equipped with energy-efficient modules leading to higher fuel economy and even lower automotive carbon emissions. This aspect drives the regenerative braking device market’s global growth over the forecast period. The growing demand for electric cars, even in public transport, is likely to give market players several opportunities over the forecast period. The ever-increasing demand for fuel-efficient vehicles is also anticipated to boost the need for the regenerative braking technology due to strict automotive regulations. The loss of the braking force needed at high speed on the track or highways for regenerative braking system vehicles is expected to inhibit market growth over the forecast period.

The demand for automobile regenerative braking systems is influenced by factors such as increasing electric car purchases, growing traffic congestion, and the declining lithium-ion battery price. The automobile regenerative braking device, with changing market interest for environmentally sustainable cars such as hybrid and electric vehicles and increasing demand for better vehicle efficiency, is expected to propel over the forecasted period.                                                                             

Fluctuating fossil fuel prices and stringent fuel efficiency regulations are other major factors that increase the demand for fuel-efficient cars. In several countries, the increasing rates of pollution owing to elevated carbon emissions are a matter of concern. Some governments have implemented stringent laws related to automotive carbon emissions. This, in effect, has driven regenerative braking devices to market. However, declines in the production of electric vehicles resulting from temporary closure of manufacturing facilities to reduce the spread of COVID-19 could impede the growth of the industry.

During the prediction era, North America is predicted to lead the sector. The growing usage of electric cars in this area due to stringent regulations from the government regulations is likely to boost the growth of the market in this area. Europe is also expected to show strong growth over the forecast period on demand for vehicle regenerative braking systems. Asia-Pacific is also projected to exhibit positive growth over the forecast period on demand for vehicle regenerative braking systems. Increasing electric vehicle sales and output in developing countries, especially in China, is expected to propel market growth in this area.

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The report offers in-depth research and assessment of the key elements of the global Automotive Regenerative Braking System market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Automotive Regenerative Braking System market.

Further key findings from the report suggest

Based on the type, the kinetic regenerative braking system generated a revenue of USD 0.71 billion in 2019 and projected to rise with a CAGR of 12.6% in the forecast period, due to better energy conservation and its efficiency in commercial vehicles, dynamic energy storage, or flywheel devices are also expected to gain fast momentum.

The plug-in hybrid electric vehicles expected to grow with a CAGR of 13.4% in the forecasted period, owing to the raising vehicle acceptance that provides the versatility for external charging and enhances the vehicle’s driving range.

The commercial vehicles application is the major contributor to the Automotive Regenerative Braking System Market. The commercial vehicles application of the North America region is the major shareholder of the market and held around 35.2% of the market in the year 2019, owing to the government policies to electrify the public transit fleet coupled with the rising factory growth and the development of services are increasing the scale of the commercial vehicle fleet.

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Leading companies profiled in the report:

Eaton Corporation PLC, ZF Friedrichshafen AG, Bosch Mobility Solutions, Delphi Automotive, Continental AG, Magna International, Punch Powertrain, Denso, Aisin Seiki, and Hyundai Mobis, among others.

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Global Automotive Regenerative Braking Systems Market Segmentation:

Type Outlook (Revenue, USD Billion; 2017-2027)

Electric Regenerative Braking System

Hydraulic Regenerative Braking System

Kinetic Regenerative Braking System

Propulsion Outlook (Revenue, USD Billion; 2017-2027)

Battery Electric Vehicle (BEV)

Plug-In Hybrid Electric Vehicle (PHEV)

Hybrid Electric Vehicle (HEV)

Application Outlook (Revenue, USD Billion; 2017-2027)

Two Wheelers

Passenger Cars

Commercial Vehicles

Others

Regional Overview:

The global Automotive Regenerative Braking Systems market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Automotive Regenerative Braking Systems market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

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