Global Regenerative Braking System Market Size to Reach USD 15.15 Billion in 2032 | Emergen Research

Vancouver, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The global market for regenerative braking systems achieved a market size of USD 6.15 billion in 2022 and is poised for consistent revenue growth with a projected Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period, as per the latest analysis conducted by Emergen Research. The key driver behind this growth is the increasing demand for vehicles that prioritize fuel efficiency.

An automotive regenerative braking system serves as a pivotal technology by converting the heat generated through brake friction into electrical energy. This electrical energy is subsequently stored in high-voltage batteries and can be utilized either immediately or at a later time, depending on the vehicle's operational requirements.

The surge in popularity of Electric Vehicles (EVs) in recent years can be attributed to noteworthy technological advancements, reduced production costs, and a heightened commitment to eco-friendly transportation solutions. As a result, a more extensive network of charging infrastructure has emerged, making it easier for users to recharge their EVs, consequently promoting the widespread adoption of electric vehicles.

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Furthermore, mounting concerns surrounding vehicle emissions and the depletion of non-renewable energy resources have spurred various governments to allocate substantial investments toward electric vehicles (EVs), serving as another pivotal driver for market revenue growth. Notably, the European region witnessed the registration of approximately 1.4 million Battery Electric Vehicles (BEVs) and Plug-In Hybrid Electric Vehicles (PHEVs) in the year 2020. For instance, in June 2021, the Canadian government pledged an investment of approximately USD 2.35 million to deploy EV fast chargers across the nation, bolstering the EV infrastructure.

Additionally, the escalating adoption of regenerative braking systems in public transportation vehicles to harness kinetic energy and convert it into electrical energy is anticipated to further propel market revenue growth throughout the forecast period.

However, it is worth noting that a noteworthy impediment to market revenue growth arises from the increased overall cost and weight of vehicles. The core components of a regenerative braking system encompass a flywheel, motor/generator, Electronic Control Unit (ECU), batteries, and connecting cables. The integration of these additional components contributes to both the added weight and cost of the vehicle, consequently leading to heightened fuel consumption.

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Scope of Research

Major Companies and Competitive Landscape

The global regenerative braking systems market is fairly consolidated with few small and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

• Hyundai Mobis
• Robert Bosch GmbH
• Eaton
• Denso Corporation
• Advices Co. Ltd.
• Continental AG
• ZF Friedrichshafen AG
• Skeleton Technologies GmbH
• Brembo S.P.A
• BorgWarner Inc.

Strategic Development

• On 16 November, 2021, Continental AG introduced MK C2, an improved version of the MK C1 brake-by-wire technology. The MK C2 has been improved, is smaller and lighter, and can therefore be utilized in small vehicles.

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Some Key Highlights From the Report

• The battery segment is expected to account for largest revenue share in the global regenerative braking systems market during the forecast period. This is due to rapid technological improvement in the battery sector and the emergence of trends in Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs), and Fuel Cell Electric Vehicles (FCVs). When an EV battery runs out, consumers can switch it out or exchange using battery swapping or Battery-as-a-Service (BaaS). Users no longer have to spend time charging the batteries, increasing customer satisfaction and removing one of the key deterrents for consumers from choosing EVs.

• The BEV segment is expected to register steadily fast revenue growth rate in the global regenerative braking systems market over the forecast period. This is due to increasing concerns about the world's extreme weather patterns and rising pollution levels. A large source of carbon emissions is the road transportation sector, which represents 16% of world emissions. The BEV segment has a significant obstacle in the form of lengthy charging times, despite having a wide range of potential for product adoption..
• The passenger cars segment is expected to account for significantly large revenue share in the global regenerative braking systems market over the forecast period. Improved energy efficiency is one of the main advantages of regenerative braking in passenger vehicles. Regenerative braking systems transform kinetic energy into electrical energy when a vehicle slows down or applies the brakes.. When a car equipped with regenerative braking systems slows down or applies the brakes, kinetic energy is converted into electrical energy. Then, a battery or another type of energy storage technology is used to store this electrical energy.
• The Asia Pacific is expected to account for largest revenue share in the global regenerative braking systems market during the forecast period. This is due to region's increasingly strict emission standards would increase demand for BEVs, PHEVs, and FCVs. China has invested in the construction of numerous additional charging stations across the nation, which is expected to increase sales of EVs.

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Emergen Research has segmented the global regenerative braking system market on the basis of basis of component, propulsion, vehicle and region:

• Component Outlook (Revenue, USD Billion; 2019–2032)
  • Electrical Control Unit (ECU)
  • Battery
  • Flywheel
  • Motor
• Weight Outlook (Revenue, USD Billion; 2019–2032)
  • Battery Electric Vehicle (BEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)
  • Fuel Cell Electric Vehicle (FCEV)
• Vehicle Outlook (Revenue, USD Billion; 2019–2032)
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicle (HCV)
  • Passenger Vehicle

•    Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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