Automotive Regenerative Braking Market 2021 – 2027 | Key Developments Factors and Demand Insights
The automotive regenerative braking industry will show promising growth driven by the higher advances in supportive infrastructure across emerging and developed countries. There is a growing need for braking systems to offer exceptional benefits, like reduced carbon dioxide emission and higher electric vehicle battery range. In addition, the mount in technological advancements to enhance the regenerative brake efficiencies will play a crucial role in the market progression.
Growing consumer emphasis on sustainable solutions has triggered the need for effective alternative fuel vehicles, complementing the adoption of electric vehicles, like cars, electric public buses, and two-wheelers. This can be accredited to the adverse effects of global warming and climate change, arising from the escalating greenhouse gas levels in the atmosphere, given the rising emissions from fossil fuel vehicles. The escalating obligation to limit these emissions has given way for numerous regulations and rules imposed by various environmental and government regulatory bodies worldwide. Taking these factors into consideration, a recent report by Global Market Insight, Inc., states that the global automotive regenerative braking market size will touch a valuation of USD 18.5 billion by 2027.
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The growth can be attributed to the increasing demand for electric regenerative braking systems during the analysis period owing to the rising focus on energy recovery from the deceleration of vehicles. These systems are largely preferred to transform and store electricity with the help of motors during sudden deceleration.
Industry share of hydraulic automotive regenerative braking is anticipated to grow with increasing adoption in commercial vehicles to offer optimum energy recovery and storing rate. The hydraulic systems make use of pressurized tanks in order to preserve the kinetic energy of vehicles. The growing usage of displacement pumps to pump hydraulic fluids into accumulators will also add impetus to the product demand.
There has been a substantial rise in government investments and initiatives for mitigating the use of fossil fuels to limit carbon emissions. For instance, the Government of Germany, in 2019, came up with an initiative 2030, Climate Action Programme, for replacing around 10 million fossil fuels automotive with electric vehicles. It also aims at installing about a million charging stations over German roads in the next 10 years. In light of such advancements, automotive regenerative braking market size from BEV (battery-electric vehicle) propulsion could observe a 25% CAGR through 2027.
Two-wheeler vehicles are expected to record more than 40% of the automotive regenerative braking industry share up to 2027 driven by the rising incorporation of innovative technologies for reducing the charging time. The increasing efforts taken up by OEMs and novel electric two-wheeler manufacturers have led to the introduction of diverse automotive regenerative braking systems for enhanced battery recharge capabilities.
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The automotive regenerative braking market in Latin America will grow at a robust pace in the forecasted time due to the surging sales of luxury, premium, and sports vehicles. The hiking household incomes and the improved standard of living in the region have increased the adoption of electric vehicles. The expanding urban class population size coupled with the increasing government spending towards sustainable public transportation will additionally drive the regional market growth.
Driven by the aforementioned trends, leading suppliers of automotive regenerative braking systems from across the globe are adopting key growth strategies, like partnerships, mergers, and acquisitions to proliferate their reach and customer base. These companies are also keen on new product launches for sustaining competition. For instance, in August 2017, Continental developed a novel type of wheel and braking system to cater to the specified requirements of electrified vehicles.
The automotive regenerative braking industry participants are developing innovative products to strengthen their foothold. Prominent players operating in the market include Continental AG, ZF Friedrichshafen AG, Punch Powertrain, Bosch Mobility Solutions, Denso, Eaton Corporation plc, and Delphi Automotive.
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