June 09, 2020
According to the research report titled ‘Automotive Regenerative Braking Market Size By Type, By Propulsion, By Vehicle, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, global automotive regenerative braking market is expected to showcase substantial growth through 2026.
Rising integration of regenerative braking systems in hybrid and electric vehicles along with technological advancements are major factors driving the market growth.
An automotive regenerative braking is a method in which the electric motor which powers a hybrid or electric vehicles operates in reverse during braking or coasting. This reverse operation of the electric motor generates electricity and helps in charging the onboard batteries.
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Notably, automotive regenerative braking system is highly effective at specific speeds. These systems are useful during stop & go situations. Hybrid and electric vehicles have friction brakes which acts as a power back-up system when regenerative braking is insufficient to stop the vehicle.
As per type, hydraulic regenerative braking system segment is predicted to expand substantially during the analysis timeframe. In this system, kinetic energy of the vehicle helps power a reversible pump that transfers the hydraulic fluid to high pressure accumulator from low-pressure accumulator, when the driver uses the brake. This helps in acquiring optimal engine speed in less energy conversions, which in turn is prime factor contributing towards the popularity of hydraulic regenerative braking system across the globe.
Regionally, Europe accounted for 8% share in automotive regenerative braking market in 2019 and is anticipated to register substantial growth in the forthcoming years. High concentration of major automobile manufacturers is complementing the business scenario in the region.
On the other hand, Middle East & Africa market is slated to record lucrative growth during the study period, primarily due to increasing focus towards reducing the dependency on conventional fuel.
The prominent companies operating in automotive regenerative braking market are Magna International Inc., ZF Friedrichshafen AG, Aisin Seiki, Robert Bosch GmbH, Denso Corp., Delphi Automotive PLC and Continental AG among others.