Automotive Regenerative Braking Market to reach $18.5 BN by 2027
Published Date: August 23, 2021 Authors: Kiran Pulidindi, Sayan Mukherjee
Automotive Regenerative Braking Market size is slated to surpass USD 18.5 billion by 2027, according to a new research report by Global Market Insights Inc.
The adoption of regenerative braking is increasing on account of the operating efficiency of vehicles through reduced fuel consumption and extending the range of batteries. Growing sales of batteries and hybrid electric vehicles across regions will escalate the automotive regenerative braking industry demand.
Due to government regulations and environmental concerns related to vehicle emissions, automobile manufacturers are shifting toward electric & hybrid electric vehicles for a sustainable energy source as a part of the green energy initiative. The slowdown in automobile vehicle sales and production owing to the COVID-19 pandemic and temporary closure of manufacturing facilities will hinder the industry expansion.
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Continuous advancements in flywheels to enhance kinetic regenerative brake adoption
The kinetic regenerative braking market is projected to witness around 20% CAGR through 2027. Recent developments in flywheels to store kinetic energy and reduced weight will increase their adoption in commercial vehicles. For instance. in February 2020, Volvo upgraded its 2020 XC90 crossover model with a kinetic energy recovery braking system based on the carbon fiber flywheel along with a spinning capability of about 60,000 RPM. Moreover, automobile OEM manufacturers are engaged in the development of kinetic regenerative brakes for motorsports cars.
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 (Two-wheelers, Passenger Cars, Commercial Vehicles), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Surging PHEVs to escalate segment penetration
In 2020, PHEV captured more than 8% of the automotive regenerative braking market revenue share and will observe continuous growth led by rising electric vehicle adoption. PHEV offers the flexibility to be charged externally, thus increasing the driving range of the vehicle. BEV will foresee significant growth along with the incorporation of ultracapacitors to enable fast absorption and dispersion of energy.
Promising growth is anticipated from the commercial vehicle segment
Growing infrastructure development and industrial production will boost the commercial vehicle fleet market size. Government initiatives and support to electrify the public transport fleet will expand the demand for automotive regenerative braking systems for commercial vehicles. Rising development in alternate fuel-powered commercial vehicles will significantly reduce the pollution level. Furthermore, the development of commercial vehicles by industry participants will support segment penetration.
Asia Pacific to bank upon two-wheelers penetration and presence of manufacturers
The Asia Pacific automotive regenerative braking market revenue is estimated to grow significantly during 2021 to 2027 propelled by the rising adoption of electric two-wheelers. The region leads in the production of electric two-wheelers with the presence of manufacturers including Sunra, and Okinawa. Moreover, the presence of multiple automotive players including Audi, Volkswagen, Fiat, Skoda, and BMW, among others offering a wide range of premium vehicles. Several government efforts in the shape of subsidies and tax incentives coupled with stringent environmental regulations to curb environmental pollution are increasing electric vehicle adoption.
Industry to observe a surge in R&D investments
Manufacturers in the automotive regenerative braking market are investing in research & development to minimize production and ownership costs. The key manufacturers in the industry include Continental AG, Punch Powertrain, ZF Friedrichshafen AG, Bosch Mobility Solutions, Denso, Eaton Corporation plc, and Delphi Automotive.