Impact of Covid-19 Outbreak on Automotive Regenerative Braking System Market

27/lug/2020 11:40:09 Automotive Market Research Reports Contatta l'autore

The automotive regenerative braking system market is anticipated to garner a CAGR of 11% during the forecast period (2018-2023), Market Research Future (MRFR) reveals in a detailed report. A regenerative braking system in automotive can be referred to as an energy recovery system, which helps to convert the kinetic energy into electrical energy.

Market Potential and Pitfalls

The automotive regenerative braking system market is driven by factors such as increased sales of electric vehicles, rising traffic congestion, and the declining price of lithium-ion battery. With shifting preference of consumers towards environment-friendly vehicles like hybrid and electric vehicles and soaring demand for improved vehicle performance, the automotive regenerative braking system market is estimated to experience a thrust.

The contribution of the automotive industry in greenhouse gas emission has increased due to the surging sales of vehicles during the past few years. The rising content of greenhouse gas is creating severe problems related to the environment, such as global warming and climatic change. The soaring level of greenhouse gases has resulted in a high demand to limit its emission by vehicles. Implementation of regenerative braking systems will not only reduce the greenhouse gas emission but will help to increase the fuel efficiency at the same time. To adhere to strict government mandates, the adoption of regenerative braking systems has increased in the automotive industry. This has further led to mergers, product launches, acquisitions, and collaborations.

On the contrary, due to the functional complexities of the components, the manufacturing cost increases, which restricts the market growth to a great extent.

Global Automotive Regenerative Braking System Market: Segmental Analysis

The automotive regenerative braking system market has been segmented on the basis of vehicle type, electric vehicle, and system type.

By vehicle type, the automotive regenerative braking system market is segmented into passenger vehicles, two-wheelers, and commercial vehicles. Of these, the passenger cars segment is likely to drive the market growth. The regenerative braking system market for passenger cars is growing rapidly due to the surging number of electric cars in countries like Japan, the U.S.A., and China.

By system type, the automotive regenerative braking system market is segmented into flywheel, battery, hydraulics, and ultra-capacitors. The hydraulic system is highly being adopted in the utility vehicle segment. Hydraulics have more power density, better potential efficiency, and better energy storage efficiency, which augments its growth.

By electric vehicles, the automotive regenerative braking system market is segmented into hybrid electric vehicles, battery vehicle, and plug-in hybrid electric vehicle. Of these, the plug-in electric vehicle segment is likely to gain prominence due to continuous support and promotion by governments towards using green energy.

Regional Frontiers

Geographically, the automotive regenerative braking system market spans across the Asia Pacific, North America, Europe, and the Rest of the World (RoW).

Considering the global scenario, North America will dominate the automotive regenerative braking system market globally, mainly due to the existence of major industry players in the region. The increased penetration of electric vehicles in the region is predicted to contribute to the market’s growth.

Europe is likely to acquire a substantial share in the global market due to the soaring awareness regarding greenhouse gas emission, coupled with fuel consumption. The presence of industry bigshots in the region like Robert Bosch GMBH, Continental AG, and ZF Friedrichshafen AG is expected to encourage the market growth. Moreover, Germany being one of the leading exporters of automotive parts will have a positive impact on the regional market.

The Asia Pacific will generate the highest growth rate during the assessment period, mainly due to increased urbanization, which has resulted in rising penetration of plug-in hybrid electric and hybrid vehicles. The surging production and sales of automobiles in China and India are predicted to create growth opportunities for the market in the coming years.

Competitive Dashboard

The top players operating in the global automotive regenerative braking system market include Robert Bosch GMBH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Hyundai Mobis (South Korea), ADVICS North America, Inc. (the US), Denso Corporation (Japan), Mazda Motor (Japan), Autoliv Nissin Brake Systems Co., Ltd. (Japan), Faurecia SA (France), Delphi Automotive PLC (US), and TRW Automotive (US).

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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