Automotive Regenerative Braking Market Size worth $6bn by 2026
Published Date: April 29, 2020 Authors: Kiran Pulidindi, Sayan Mukherjee
Automotive Regenerative Braking Market size is set to exceed USD 6 billion by 2026, according to a new research report by Global Market Insights, Inc.
Regenerative braking recovers energy lost in shape of friction and heat while vehicle braking. The recovery is achieved through multiple ways and has primary objective to increase operating efficiency of vehicle through extending range or to reduce fuel consumption. The recovery of lost energy is achieved through multiple forms comprising of kinetic through flywheel, electric through motor generator, and in pressurized form through hydraulic unit.
Increasing adoption of hybrid and battery electric vehicles across the globe will enhance the automotive regenerative braking market size. However, reduction in electric vehicle production arising from temporary closure of manufacturing facilities to limit COVID-19 spread will hinder industry expansion.
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Continuous advancements in flywheel to enhance kinetic regenerative brake adaption
Kinetic regenerative braking market volume will witness around 15% growth during the forecast timeframe. Ongoing development in flywheels such as weight reduction will escalate its adoption in the commercial vehicles.
For instance. in February 2019, Volvo announced the upgradation of its 2020 XC90 crossover model with kinetic energy recovery braking system, based on carbon fibre flywheel with spinning capability of around 60,000 RPM. Moreover, the industry participants are developing kinetic regenerative brakes for the racing cars. Such initiatives will strengthen the segment penetration in the market.
Browse key industry insights spread across 240 pages with 183 market data tables & 11 figures & charts from the report, “Automotive Regenerative Braking Market Size By Type (Electric Regenerative Braking System, Hydraulic Regenerative Braking System, Kinetic Regenerative Braking System), By Propulsion (BEV, PHEV, HEV), By Vehicle Type (Two Wheelers, PCV, Commercial Vehicles). Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Surging PHEV to escalate the segment penetration
In 2019, PHEV segment held over 8% share in the automotive regenerative braking market and will witness continuous growth with increasing vehicle adoption. PHEV offers the flexibility to be charged externally and that increases the driving range of the vehicle. Increasing charging facilities across the globe will positively influence the vehicle demand. BEV segment will also foresee significant growth with incorporation of ultracapacitors to enabled fast absorption and dispersion of energy.
Promising growth anticipated from commercial vehicle segment
Government initiatives to electrify public transport fleet will escalate the demand for automotive regenerative braking systems for commercial vehicles. Rising industrial production and infrastructure development is expanding the commercial vehicle fleet size. Rapid development in alternate fuel powered commercial vehicles will significantly reduce the pollution level. Further, development of commercial vehicles by industry participants will support the segment pentation.
Asia Pacific market to bank upon two wheelers growth
Asia Pacific automotive regenerative braking market size is expected to observe substantial growth from 2020 to 2026 impelled by increasing electric two wheelers adoption. The region leads the production of electric two wheelers with presence of manufacturers including Sunra and Okinawa. Several government efforts in shape of subsidies and tax incentives coupled with stringent environment regulation to curb environmental pollution is increasing electric vehicle adoption.
Industry to witness surge in R&D investments
Industry participants are increasing their R&D investment to reduce the production and ownership cost. The key manufacturers include, Robert Bosch GmbH, Continental AG, Delphi Automotive, Hyundai Mobis Co., Ltd., ZF, Maxxwell Technologies, and Punch powertrains.