DUBLIN--(BUSINESS WIRE)--Oct 31, 2022--
The "Automotive Regenerative Braking System Market By Vehicle Type, By System, By Propulsion Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
According to this report the automotive regenerative braking system market was valued at $5.66 billion in 2020, and is estimated to reach $23.2 Billion by 2030, growing at a CAGR of 15.5% from 2021 to 2030.
Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the market 2020. However, Europe is expected to grow at a significant rate during the forecast period, due to technological developments across the region.
The automotive regenerative braking system is a kinetic energy recovery system employed in energy-saving vehicles that recovers the energy lost during braking and then uses this energy to recharge the battery of vehicle. The amount of recoverable energy depends upon vehicle speed & stopping pattern. Furthermore, 5%-10% of transmitted energy can be saved by using a regenerative braking system. Presently, energy recovery systems in vehicles are used in passenger as well as commercial vehicles to improve fuel economy & reduce vehicular emissions. As a result, the need for regenerative braking system market has evolved to develop a better fuel economy, gaining significant growth in the global automotive industry.
In addition, the automotive regenerative braking system market has witnessed significant growth in recent years, owing to adoption of regenerative braking systems in every automobile, increase in sales of electric cars, and proliferation of component manufacturers in Asia-Pacific.
Asia-Pacific held over 75% of the market revenue share in 2020, which was driven by multiple electric vehicle manufacturers, including Toyota, SAIC, BAIC, and Mitsubishi Motors Corporation & Honda Motor Co., Ltd. Furthermore, industry participants expand their production facilities in India, Japan, and China to serve a more extensive consumer base. For instance, in 2021, the AISIN Corporation announced its business expansion plan by 2025 with the investment of 110 billion yen to ensure the target of reducing carbon emissions by developing the economy of EVs with the improvements in electric units, thermal management, cooperative regenerative braking system, and body products. Thus, increase in adoption and implementation of strategies to enhance vehicle efficiency significantly boost the growth of regenerative braking system during the forecast period.
Factors such as stringent vehicular emission norms & regulations and rise in the number of electric vehicles & EV infrastructure are expected to drive the growth of the automotive regenerative braking system market. However, factors such as increase in overall cost & weight of vehicles and high repair & maintenance costs hinder the market growth. Moreover, technological advancement in the two-wheeler-based regenerative braking system and the adoption of the regenerative braking system in heavy vehicles is expected to provide ample opportunities for the growth of the market across the globe.
Key Market Segments
By Vehicle Type
By System
By Propulsion Type
By Region
Key Market Players
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE REGENERATIVE BRAKING SYSTEM MARKET, BY SYSTEM
CHAPTER 5: AUTOMOTIVE REGENERATIVE BRAKING SYSTEM MARKET, BY VEHICLE TYPE
CHAPTER 6: AUTOMOTIVE REGENERATIVE BRAKING SYSTEM MARKET, BY PROPULSION TYPE
CHAPTER 7: AUTOMOTIVE REGENERATIVE BRAKING SYSTEM MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/q2c77i
View source version on businesswire.com:https://www.businesswire.com/news/home/20221031005471/en/
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KEYWORD:
INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/31/2022 09:24 AM/DISC: 10/31/2022 09:24 AM
http://www.businesswire.com/news/home/20221031005471/en