Automotive Regenerative Braking System Market is expected to be valued at USD 22 Billion with a CAGR of 6% Forecast by 2030
Automotive Regenerative Braking System Market Overview
The global Automotive Regenerative Braking System Market has been predicted to witness significant growth for the forecast period. Further, the global market has estimated to grow at a CAGR of 6% for the forecast period. The regenerative braking system works as a key technology that reserves curbs emissions and fuel in a conventional vehicle.
Moreover, the emerging braking system is an energy recovery system that transforms the vehicle's kinetic energy and is produced during the vehicle speed reduction into electrical energy. This transformed energy is deposited in the vehicle's storage unit to power the vehicle's interior electronics and to utilize it in various applications like headlights and start-stop functions. Different energy storage units are used in a regenerative braking system, like ultra-capacitors, flywheels, batteries, and many others. Through the use of regenerative braking systems, the transmitted energy can be saved up to 5% - 20% as its recoverable energy depends upon the stopping pattern and vehicle speed. Furthermore, the regenerative braking system is extensively used to produce electricity during the application of the brakes by transforming the momentum loss.
In the present scenario, the demand for the automotive sector is increasing in order to the sales of vehicles and production of the vehicle across the globe, which has resulted in growing greenhouse gas emissions. Along with that, the government is forcing the automakers to adopt such advanced technologies that can help to reduce the fuel consumption by vehicles and exhaust gas emissions. This can boost up the growth of the global Automotive Regenerative Braking System Market. Moreover, the Market is driving its growth due to the increasing demand for the regenerative braking system and increasing engagement of commercial vehicles and passenger vehicles to reduce vehicular emissions and to improve fuel economy. Furthermore, the regenerative braking system has various components that help in recovering energy storage reservoirs and energy from the parts of braking.
COVID-19 Impact Analysis
The ongoing COVID-19 pandemic has impacted the Automotive Regenerative Braking System Market growth for the year 2020. Many regions have imposed shutdown and lockdown, resulting in a lack of vehicles, supply, transportations, and many others.
However, the global key players have adopted many safety measures and strategies to boost the growth of the global market. In the present scenario, the global market has aimed to achieve the higher market Size for the forecast period.
Competitive Landscape Analysis
According to the Automotive Regenerative Braking System Market Trends report, the global market has huge competition across various regions, which is boosting up the strength of the global market. These key players are:
These important market players have lucrative opportunities due to the advancement of the technology and high functional complexity of the components, leading to enhancing the Market Growth for the research period.
The global Market is growing due to several factors like increasing electric vehicle supply equipment (EVSE) infrastructure, increasing the numbers of electric vehicles, and stringent vehicular emission governmental rules and regulations.
According to the International Air Agency report, nearly 6.5 million deaths cases occur every year because of poor air quality. For this, the governments of different nations like Germany, the U.S., and others are developing various policies and launching various programs related to vehicle emission to limit the growing amount of emission across the globe. This kind of initiative by the governments is increasing the growth of the Automotive Regenerative Braking System Industry for the forecast period.
In the forecast period, it has been predicted that the mass production of the regenerative braking system can reduce the cost of the system, which can bring lots of opportunities for the global key players of the Market.
Therefore, technological advancement is bringing more opportunities for the global market, which is generating higher Market Size of the forecast period.
The global Market might get hampered due to the vehicle's increasing manufacturing cost and weight. In addition, the high functional complexity of the components might bring market restraints to the global market.
Along with that, the high maintenance and repair cost might hamper the growth of the Market for the research period.
The global Market might experience challenges due to the increased overall cost of the vehicle.
Moreover, the recent challenge that the global Market Trends has experienced is the COVID-19 pandemic, which has resulted in disruption in the supply chain.
The global Market has shown higher growth in the region like Asia- Pacific and North America. Further, these region has more scope for the growth of the global market.
According to the global Market Trends report, the increasing demand for electric vehicles will enhance the cumulative market growth.
Market Segment Overview
The global market is classified based on the system type, vehicle type, and electric vehicle.
Based on the electric vehicle segment, the global Market is segmented into a hybrid electric vehicles, battery vehicles, and plug-in hybrid electric vehicles.
Among these, the lug-in hybrid electrical vehicle segment has witnessed significant growth in the previous year, and further, it is estimated to generate the higher Market Share for the forecast period due to its versatility for vehicle’s driving range and external charging.
The global Market is segmented into passenger vehicles, two-wheelers, and commercial vehicles based on the vehicle type segment.
Out of all, the passenger vehicle segment has predicted to generate the higher Market Share for the research period due to the growing electric car demands in the countries like Japan, the USA, and china. Usually, the passenger cars are electric cars, including the Plug-in Hybrid electric vehicle (PHEV), Hybrid electric vehicle (HEV), and Battery Electric Vehicle (BEV).
The global Market has been classified into flywheel, battery, ultra-capacitors, and hydraulics based on the system type segment.
Among these, the battery system type segment has predicted to register the largest Automotive Regenerative Braking System Market Size for the research period due to the advancement in battery development.
The global Automotive Regenerative Braking System Market has been classified into four important regions: Asia-Pacific, North America, Europe, and the Rest of the World. Among these regions, the North American regional market has predicted to dominate the global market with generating the higher Market Share for the forecast period due to the high penetration of electric vehicles in the region and the presence of major key market players in the region.
Apart from that region, the Asia-Pacific region has expected to register the highest Market Growth for the forecast period. This regional market has witnessed higher growth because of the plug-in hybrid electric vehicles in developing countries like South Korea, China, and Japan, the increasing urbanization, increased penetration of hybrid, and increasing purchasing power among the population. In addition, the most populated countries like China and India have increased the sale of automobiles and their production, which is predicted to enhance the Automotive Regenerative Braking System Market Growth in the Asia Pacific region.
The Automotive Regenerative Braking System Industry report has included extensive primary research of data collection. This report is a combination of both quantitative and qualitative detailed analysis aspects. This report has analyzed the views of the key leaders and various industry experts to understand the industry performance across various regions. The present market scenario report, including technological advancement, forecasted market size, historical data, governing factors, market value, and volumes, etc., has been highlighted to show a clear picture of the global market.
Moreover, the Automotive Regenerative Braking System Industry report has thrown light on the recent competitions of the key players and shown comprehensive information regarding the ideas and strategies. This report has also covered the recent developments and contributions to the Automotive Regenerative Braking System Market.
By Electrical Vehicle:
By Vehicle Type:
By System Type:
|Market Size||2030 : Significant Value|
|CAGR||6% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||System Type, Electric Vehicle, and Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Continental AG (Germany), Robert Bosch GMBH (Germany), Hyundai Mobis (South Korea), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), ADVICS North America, Inc. (US), Autoliv Nissin Brake Systems Co., Ltd. (Japan), Mazda Motor (Japan), Delphi Automotive PLC (US), Faurecia SA (France), TRW automotive (US)|
|Key Market Opportunities||The functional complexity of the components can check the growth rate|
|Key Market Drivers||
The automotive regenerative braking system market is poised to register 6% CAGR.
The functional complexity of the components can check the growth rate of the automotive regenerative braking system market.
By system type, the segments assessed are battery, hydraulics, flywheel, and ultra-capacitors.
APAC is projected to mark the highest growth rate.
The key players operating in the automotive regenerative braking system market are Continental AG (Germany), Hyundai Mobis (South Korea), Robert Bosch GMBH (Germany), ZF Friedrichshafen AG (Germany), ADVICS North America, Inc. (US), Denso Corporation (Japan), Autoliv Nissin Brake Systems Co., Ltd. (Japan), Delphi Automotive PLC (US), Mazda Motor (Japan), Faurecia SA (France), and TRW Automotive (US).