Vancouver, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The Global Automotive Regenerative Braking System Market is forecasted to reach USD 15.29 Billion by 2032, accoding to a latest report published by Emergen Research. Increasing the use of hybrid and battery electric cars worldwide would boost the scale of the regenerative braking industry in the automobile field. Nowadays, all passenger and freight cars are equipped with energy-efficient modules leading to higher fuel economy and even lower automotive carbon emissions. This aspect drives the regenerative braking device market's global growth over the forecast period. The growing demand for electric cars, even in public transport, is likely to give market players several opportunities over the forecast period. The ever-increasing demand for fuel-efficient vehicles is also anticipated to boost the need for the regenerative braking technology due to strict automotive regulations. The loss of the braking force needed at high speed on the track or highways for regenerative braking system vehicles is expected to inhibit market growth over the forecast period.
Fluctuating fossil fuel prices and stringent fuel efficiency regulations are other major factors that increase the demand for fuel-efficient cars. In several countries, the increasing rates of pollution owing to elevated carbon emissions are a matter of concern. Some governments have implemented stringent laws related to automotive carbon emissions. This, in effect, has driven regenerative braking devices to market. However, declines in the production of electric vehicles resulting from temporary closure of manufacturing facilities to reduce the spread of COVID-19 could impede the growth of the industry.
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During the prediction era, North America is predicted to lead the sector. The growing usage of electric cars in this area due to stringent regulations from the government regulations is likely to boost the growth of the market in this area. Europe is also expected to show strong growth over the forecast period on demand for vehicle regenerative braking systems. Asia-Pacific is also projected to exhibit positive growth over the forecast period on demand for vehicle regenerative braking systems. Increasing electric vehicle sales and output in developing countries, especially in China, is expected to propel market growth in this area.
Scope of Research
| Report Details | Outcome |
| Market size value in 2019 | USD 3.01 Billion |
| CAGR (2023 - 2032) | 13.3% |
| Revenue forecast in 2032 | USD 15.29 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Revenue in USD Billions, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Propulsion, Application, Region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Bridgestone Corporation, Hella KGaA Hueck & Co., Denso Corporation, Continental, ACDelco, Delphi Automotive, Fauraecia, BASF, Robert Bosch, and 3M Company |
| Customization scope | 10 hrs of free customization and expert consultation |
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Competitive Landscape
The market for Automotive Regenerative Braking Systems Market is fairly fragmented, with a number of small as well as medium-sized manufacturers, which account for a major global share of the market. The manufacturers involved in the Automotive Regenerative Braking Systems Market are desegregated across the value chain. The key companies of the market are well-equipped with large manufacturing facilities and are also engaged in various research & development activities. Some of the prominent players in the market include:
- Eaton Corporation PLC
- ZF Friedrichshafen AG
- Bosch Mobility Solutions
- Delphi Automotive
- Continental AG
- Magna International
- Punch Powertrain
- Denso
- Aisin Seiki
- Hyundai Mobis
Strategic Development
- In September 2019, Contrary to standard approaches, Brembo confirmed the launch of their "brake-by-wire scheme" with a range of advantageous functions provided by this program. The braking mechanism should be combined with the regenerative braking method, which can respond to the driver's particular comfort, which desires, allowing them to adjust the pressure rates on pedals and define the braking device vehicle loads to provide a better form of the braking system.
- In March 2019, Tesla introduced Model Y with a regenerative electric braking system. The machine provides a higher output ratio, and Ultracapacitor processing progresses.
- In February 2019, Volvo confirmed that its 2020 XC90 crossover model would be updated with a kinetic energy recovery braking system based on carbon fiber flywheel with a spinning range of around 60,000 RPM.
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Further key findings from the report suggest
- Based on the type, the kinetic regenerative braking system generated a revenue of USD 0.71 billion in 2019 and projected to rise with a CAGR of 12.6% in the forecast period, due to better energy conservation and its efficiency in commercial vehicles, dynamic energy storage, or flywheel devices are also expected to gain fast momentum.
- The plug-in hybrid electric vehicles expected to grow with a CAGR of 13.4% in the forecasted period, owing to the raising vehicle acceptance that provides the versatility for external charging and enhances the vehicle's driving range.
- The commercial vehicles application is the major contributor to the Automotive Regenerative Braking System Market. The commercial vehicles application of the North America region is the major shareholder of the market and held around 35.2% of the market in the year 2019, owing to the government policies to electrify the public transit fleet coupled with the rising factory growth and the development of services are increasing the scale of the commercial vehicle fleet.
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For the purpose of this report, Emergen Research has segmented into the global Automotive Regenerative Braking System Market based on the type, propulsion, application, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Electric Regenerative Braking System
- Hydraulic Regenerative Braking System
- Kinetic Regenerative Braking System
- Propulsion Outlook (Revenue, USD Billion; 2019-2032)
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Two Wheelers
- Passenger Cars
- Commercial Vehicles
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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