PUBLISHER: Orion Market Research | PRODUCT CODE: 1159311
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159311
Global Automotive Regenerative Braking Market Size, Share & Trends Analysis Report by System (Electric, Hydraulics, and Kinetic), by Vehicle Type (Passenger Vehicles and Commercial Vehicles), and by Propulsion Type (Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-In Hybrid Electric Vehicles) Forecast (2022-2028)
The global automotive regenerative braking market is anticipated to grow at a substantial CAGR of 16.1% during the forecast period. One of the major factors fueling the market includes the continuous technological advancement in the electric vehicle market to enhance the performance of the vehicle. For instance, in 2021, MG launched its new ZS EV which was equipped with automotive regenerative braking which has 3 modes for selection to enhance the charging of the vehicle. Thus, such factor is expected to propel the growth of the automotive regenerative braking market over the forecast period.
The global automotive regenerative braking market is segmented based on the system, vehicle type, and propulsion type. Based on the system, the market is segmented into electric, hydraulics, and kinetic. Based on the vehicle type, the market is sub-segmented into passenger vehicles and commercial vehicles. Based on the propulsion type, the market is segmented into battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). Out of the propulsion type, the BEV segment is expected to hold the prominent share of the automotive regenerative braking market across the globe. The major factor contributing towards the segmental growth is due to the higher simplicity and affordable post-sale expenses. Besides BEV, both HEV and PHEV are much more complex, as it relies on two power sources, which require much more maintenance and consumes fuel as well which makes it much more expansive. As per the data of IEA 2020, out of total electric cars, 3,346,713 electric vehicles are hybrid while 6,850,327 vehicles are battery electric.
Geographically the global automotive regenerative braking market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among these, Europe is estimated to hold the prominent market share of the automotive regenerative braking market after Asia-Pacific. Owing to the second-largest electric vehicle market across the globe. As per the data of IEA 2020, Europe has 3.2 million units of EV cars stock while the US has 1.7 million EV cars stock. Furthermore, owing to advancement in technology, less cost , and support for clean transportation has propelled the demand for the electric vehicles across the region. According to the European Union, in 2020, around 1.4 million of BEVs and PHEVs have been registered in European countries within a year.
The major companies serving the global automotive regenerative braking market include AISIN Corp., Continental AG, DENSO Corp., Robert Bosch GmbH, ZF Friedrichshafen AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2019, TUV tested and confirmed that the Continental MK C1 brake system reduces around 5g of CO2 emission in hybrid vehicles. It also informed about the saving of regenerative energy owing to improved utilization of the achievable recuperation potential.
Research Methodology
The market study of the global automotive regenerative braking market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, and derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: