The Automotive Regenerative Braking market is anticipated to grow at a considerable CAGR of 16.1% during the forecast period (2022-2028). One of the crucial factors fueling the market growth includes the rapidly growing urbanization across the globe. As per the data published by the Word Bank, in 2020, global urbanization reached 56.2% in 2020, which was 53.9% in 2015. Moreover, the World Bank has estimated that by 2045, the number of people living in cities will increase by 1.5 times to 6 billion, adding 2 billion more urban residents. Thus, increasing number of urban population has increased the traffic issues among the cities.
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The automotive regenerative braking system uses unused kinetic energy to convert it into electric energy to charge the battery which would otherwise turn into heat. This has benefitted most of the electric vehicles, and hybrid vehicles in the urban areas. Such benefits also makes electric vehicles a better option as compared to internal combustion engine (ICE) vehicles which drop their mileage in urban areas owing to the high traffic. For instance, in December 2021, Indian Road Transport and Highways Minister, Nitin Gadkari, informed that out of a total of 870,141 EV registrations, Delhi, the Indian capital and one of the most populous cities in the world, had registered 125,347 EVs which is more than 14% of the total registered EVs in India. Additionally, government of various developed and developing nations as significantly increased investment in electric vehicles projects catering to eradicate and minimize risk associated with the traffic. For instance, in June 2021, the Canadian Government announced an investment of about $2.4 million to install EV fast chargers in the country. Meanwhile, the adoption of EVs equipped with regenerative braking system to utilize the kinetic energy into electrical energy in public transport vehicles is expected to drive the regenerative braking system market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Automotive Regenerative Braking Market Report Segment
By System
- Electric
- Hydraulics
- Kinetic
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
By Propulsion Type
- Battery Electric Vehicles (BEV)
- Hybrid Electric Vehicles (HEV)
- Plug-In Hybrid Electric Vehicles (PHEV)
Automotive Regenerative Braking Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the Automotive Regenerative Braking market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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