Automotive Regenerative Braking System Market
According to the report, Automotive Regenerative Braking System Market size is projected to notable market value by 2027. The increasing demand for fuel-efficient automotive and the stringent government regulations regarding emission control is expected to favor the adoption of advanced automotive regenerative braking systems globally.
For instance, the
newly elected U.S. President Joe Biden is expected to order the U.S. agencies
to review the fuel efficiency standards set by the former President Donald
Trump. Earlier, under the regime of Donald Trump’s administration, the annual
fleet wide mpg for vehicles manufactured between 2021 and 2026 was reduced to a
less stringent 1.5% compared to the Obama-administration’s 5%. However, Joe
Biden is expected to reinstate more stringent fuel economy regulations similar
to Obama standard. Moreover, over
500,000 charging stations were installed to support the transition of EVs in
the country.
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Increasing
Demand for Fuel-Efficient Vehicles to Favor Growth
According to the United States Union of Concerned Scientists, heavy-duty
vehicles constitute about 5% of the overall automotive plying on the roads, yet
they generate 25% of total vehicular emissions worldwide. The rising pollution
levels is propelling the manufacturers to develop fuel efficient automotive.
This is expected to boost the adoption of advanced automotive regenerative
braking systems during the forecast period.
However, the high maintenance cost of the regenerative systems may impede
the global automotive regenerative braking system market growth to some extent
in the forthcoming years.
The COVID-19
pandemic has had a seismic effect on several economies across the globe. To
curb the pandemic spread, the governments of several countries have ordered
complete lockdown of industrial and human activities. This is expected to have
a significant impact on the market in 2020. However, proactive steps by the
industry leaders to revive the automotive industry will bode well for the
growth of the market in the near future.
We have segmented the market based on system type, electric vehicle,
vehicle type, and region. On the basis of system type, the market is segregated
into flywheel, battery, ultra-capacitors, and hydraulics. Based on electric
vehicle, the market is divided into BEV, HEV, and PHEV. Additionally, based on
vehicle type, the market is categorized into passenger cars and commercial
vehicles. Lastly, on the basis of region, the market is bifurcated into Rest of
the World, Asia-Pacific, Europe, and North America.
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North America –
The region is expected to hold the largest global automotive regenerative
braking system market share in terms of revenue during the forecast period.
This is ascribable to factors such as the increasing adoption of electric
vehicles on account of the presence of stringent emission control norms in
countries such as the U.S. in the
region.
Europe – The
market in the region is expected to showcase considerable growth backed by the
presence of established market players such as Continental AG, Robert Bosch
GmbH, and others that are striving to develop advanced automotive regenerative
braking systems in the region between 2021 and 2028.
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Major
Companies Invest in R&D Activities to Strengthen Their Market
Positions
The global market for automotive regenerative
braking system is consolidated by major companies that are striving to maintain
their presence. They are doing so by investing in R&D activities to develop
advanced regenerative systems to cater to the growing automotive sector’s
demand. Additionally, other players are adopting organic and inorganic
strategies to maintain a stronghold that will contribute to the growth of the
market during the forecast period.
·
Robert
Bosch GmbH
·
Continental
AG
·
ZF
Friedrichshafen AG
·
Among
others
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Global Automotive Regenerative Braking System
Market Segmentation:
By Vehicle Type:
•
Hatchback
•
Sedan,
•
Sport Utility Vehicle
By Propulsion Type:
·
ICE
·
Electric
By Geography
·
North America (U.S. and Canada)
·
Europe (U.K., Germany, France, Italy, Spain,
Scandinavia, and Rest of Europe)
·
Asia Pacific (Japan, China, India, Australia,
Southeast Asia, and Rest of Asia Pacific)
·
Latin America (Brazil, Mexico, and Rest of
Latin America)
·
Middle East & Africa (South Africa, GCC
and Rest of Middle East & Africa)
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