Currently, the importance of alternative automobile technologies has risen to curb on the increasing carbon footprint caused by automobile emission. Automobile manufacturers focus on finding alternative power solutions to substitute fuel-based power source, owing to rapidly depleting oil reserves globally. Automotive Regenerative Braking System (RBS) is an energy recovery mechanism that converts the heat produced from friction in brakes into electrical energy, which is stored as charge in high-voltage batteries and can be used instantaneously or later as per vehicle demand.
RBS can convert approximately half of the heat energy produced while braking, which is immediately transferred further to power consuming systems of the vehicles or stored in batteries for further use. The RBS market is anticipated to witness notable growth due to its advantages such as improved performance of the vehicle and reduction in wear & tear of the braking system as compared to the conventional braking system. Regenerative braking is an emerging braking technology in the automotive industry, and is applicable in both conventional vehicles and electric vehicles; the latter being a major consumer of the RBS. Automobile giants such as Toyota, BMW, Ford, and Tesla have introduced RBS in their vehicles.
The RBS market is driven by the increase in demand for fuel-efficient vehicles, rise in concern about pollution caused by automobiles, growth in sales of electric cars, and reduction in brake wear & tear. However, increase in overall cost & weight of vehicles and high maintenance cost associated with brake system overhauling hinder the market growth. Moreover, rise in demand for electric vehicles such as electric buses for public transport system and technological advancement in two-wheeler RBS are expected to produce numerous growth opportunities in the future.
The market is segmented on the basis of vehicle type and geography. By system segment is further bifurcated into electric, hydraulics and others (flywheel and spring). Moreover, vehicle type segment is divided into two wheelers, passenger cars, and commercial vehicles. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Norway, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in this market include Continental AG, Robert Bosch GmbH, HYUNDAI MOBIS Co., Ltd, ZF TRW, ADVICS CO., LTD, MAXWELL TECHNOLOGIES INC., Skeleton Technologies, Nissin Kogyo Co., Ltd, Hitachi Automotive Systems, Ltd, and Autoliv Inc.
AUTOMOTIVE REGENERATIVE BRAKING SYSTEM SEGMENTATION
BY VEHICLE TYPE
KEY MARKET PLAYERS
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