Market Research Future (MRFR), in its latest report on the world Automotive Regenerative Braking System Market 2020 states different factors that can boost the expansion of the market. As per MRFR findings, the automotive regenerative braking system (RBS) market rise is expected to be about 11% CAGR by 2023. The high utility of automotive regenerative braking market for energy recovery mechanism in which it convert the produced heat from friction in the brakes of the vehicle into electrical energy can prompt the expansion of the market. The increased input by high-voltage batteries, followed by high demand per vehicle can bolster the expansion of the market in the years to come.
This emergence of braking system can curb vehicular emissions from that of conventional vehicles can propel the expansion of the global market of automotive regenerative braking system market. The feasibility of heat transfer to power consuming system or batteries can from brakes can promote the rise of the world automotive regenerative braking system market. The automotive RBS market significant expansion can be attributed to benefits, such as high performance of vehicles, reduced wear and tear of the braking system, and replacement of conventional braking system can boost the expansion of the automobile regenerative brakes market.
The segment study of the Global Automotive Regenerative Braking System Market based on system type, vehicle type, and electrical vehicle. The vehicle type based segments are passenger vehicles, commercial vehicles, and two wheelers. The system type based segments of the market are hydraulics, battery, flywheel, and ultra-capacitors. The electric vehicle segment comprises hybrid electrical vehicle, battery vehicle, and plug-in hybrid electrical vehicle. The global RBS market can be driven by the high demand of fuel-efficient vehicles and the growing concern for pollution among people. In addition, the high sales of electric cars, plus the reduction in brake wear and tear can prompt the expansion of the automotive regenerative braking system. Major restraints on the market are increased overall costing and high maintenance price along with brake system overhauling. In addition, the growing demand of electric vehicles for public transport system can boost the expansion of the market. The rise of the automotive RBS market can be credited to advancements in two-wheeler RBS and high opportunities for the expansion of the automotive regenerative braking system market through the assessment period.
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Geographically, the study of the regenerative braking system market is based on Europe, North America, followed by Asia-Pacific and the Rest of the World. The automotive regenerative brake systems market in North America can dominate the world automotive RBS market through the review period. The presence of well-known marketers and the high penetration of electrical vehicles can prompt the expansion of North America automotive regenerative braking system in the years to come. In Asia Pacific, the automotive RBS market is likely to rise at a high growth rate in the forecast period. The increase in purchasing power of people and rapid globalization can prompt the regional market rise owing to the rise in the penetration of plug-in and hybrid electric vehicles can prompt the expansion of the market in China and Japan.
MRFR profiled some important names in the automotive regenerative braking system market. They are; ZF Friedrichshafen AG (Germany), Robert Bosch GMBH (Germany), Denso Corporation (Japan), Delphi Automotive PLC (US), Hyundai Mobis (South Korea), ADVICS North America, Inc. (US), Mazda Motor (Japan), Continental AG (Germany), TRW automotive (US, Autoliv Nissin Brake Systems Co., Ltd. (Japan), Faurecia SA (France), are among others.
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