Pune, India, March 22, 2021 (GLOBE NEWSWIRE) — According to the report, Automotive Regenerative Braking System Market size is projected to notable market value by 2027. The increasing demand for fuel-efficient automotive and the stringent government regulations regarding emission control is expected to favor the adoption of advanced automotive regenerative braking systems globally.
For instance, the newly elected U.S. President Joe Biden is expected to order the U.S. agencies to review the fuel efficiency standards set by the former President Donald Trump. Earlier, under the regime of Donald Trump’s administration, the annual fleet wide mpg for vehicles manufactured between 2021 and 2026 was reduced to a less stringent 1.5% compared to the Obama-administration’s 5%. However, Joe Biden is expected to reinstate more stringent fuel economy regulations similar to Obama standard. Moreover, over 500,000 charging stations were installed to support the transition of EVs in the country.
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Increasing Demand for Fuel-Efficient Vehicles to Favor Growth
According to the United States Union of Concerned Scientists, heavy-duty vehicles constitute about 5% of the overall automotive plying on the roads, yet they generate 25% of total vehicular emissions worldwide. The rising pollution levels is propelling the manufacturers to develop fuel efficient automotive. This is expected to boost the adoption of advanced automotive regenerative braking systems during the forecast period.
However, the high maintenance cost of the regenerative systems may impede the global automotive regenerative braking system market growth to some extent in the forthcoming years.
The COVID-19 pandemic has had a seismic effect on several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This is expected to have a significant impact on the market in 2020. However, proactive steps by the industry leaders to revive the automotive industry will bode well for the growth of the market in the near future.
We have segmented the market based on system type, electric vehicle, vehicle type, and region. On the basis of system type, the market is segregated into flywheel, battery, ultra-capacitors, and hydraulics. Based on electric vehicle, the market is divided into BEV, HEV, and PHEV. Additionally, based on vehicle type, the market is categorized into passenger cars and commercial vehicles. Lastly, on the basis of region, the market is bifurcated into Rest of the World, Asia-Pacific, Europe, and North America.
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North America – The region is expected to hold the largest global automotive regenerative braking system market share in terms of revenue during the forecast period. This is ascribable to factors such as the increasing adoption of electric vehicles on account of the presence of stringent emission control norms in countries such as the U.S. in the region.
Europe – The market in the region is expected to showcase considerable growth backed by the presence of established market players such as Continental AG, Robert Bosch GmbH, and others that are striving to develop advanced automotive regenerative braking systems in the region between 2021 and 2028.
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Major Companies Invest in R&D Activities to Strengthen Their Market Positions
The global market for automotive regenerative braking system is consolidated by major companies that are striving to maintain their presence. They are doing so by investing in R&D activities to develop advanced regenerative systems to cater to the growing automotive sector’s demand. Additionally, other players are adopting organic and inorganic strategies to maintain a stronghold that will contribute to the growth of the market during the forecast period.
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen AG
- Among others
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Global Automotive Regenerative Braking System Market Segmentation:
By Vehicle Type:
- Sport Utility Vehicle
By Propulsion Type:
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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