Automotive Regenerative Braking Systems Market to Reach $18,228.3 Million by 2023

Global automotive regenerative braking systems (RBS) market is projected to reach $18,228.3 million by 2023. The market growth is mainly driven by stringent government regulations associated with greenhouse gas emission by vehicles. Many government bodies around the world, such as European Commission and Environmental Protection Agency (EPA) have imposed strict regulations regarding greenhouse gas emission, which is expected to benefit the automotive regenerative braking systems market during the forecast period.

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Based on storage type, the automotive regenerative braking systems market is categorized into battery, flywheel, hydraulics, and ultracapacitors. The batteries category is estimated to hold the largest share in the market, with around 75% contribution in 2017. High usage of battery-based RBS system in passenger cars is the major factor driving the growth of this category. However, in terms of growth, ultracapacitors are expected to lead the market during the forecast period, owing to better charge-discharge capability than batteries, and their ability to run at lower temperature (till -40 degree Celcius).

On the basis of vehicle type, the automotive regenerative braking systems market is categorized into passenger cars and commercial vehicles. Passenger car has been the dominant category in terms of share, with an estimated contribution of more than 90% in 2017.

Asia-Pacific is estimated to hold the largest share in the automotive regenerative braking systems market, with a contribution of close to 65% in 2017. The region is also expected to be the fastest growing market for automotive regenerative braking systems during the forecast period.

North America is estimated to be the second largest automotive regenerative braking systems market, with a share of more than 15.0% in the global market in 2017. The increase in the demand of zero emission vehicles (ZEVs) owing to stringent government regulations is acting as a driver for the growth of automotive RBS in the region.

The European automotive regenerative braking systems market is expected to contribute close to 15% share in the global market in 2017. The growth of the European market can be attributed to several regulations by the European Commission against carbon emission.

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Some of the prominent players operating in the automotive regenerative braking systems market are Continental AG, Adgero S.A.S, Skeleton technologies, and Denso Corporation. The other key players in the industry include Aisin Seiki Co. Ltd., Autoliv Nissin Brake Systems, Eaton Corporation Plc, Magneti Marelli S.p.A, Maxwell Technologies, Mazda Motor Corporation, Robert Bosch GmbH, Skeleton Technologies., Torotrak Plc, and ZF Friedrichshafen AG.

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P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.