Automotive Kinetic Regenerative Braking Market: Introduction
- Increasing demand for fuel efficient vehicles, led by environmental norms and government incentives provided to the electric vehicle industry is projected to drive the automotive kinetic regenerative braking market. In a kinetic regenerative braking system, the kinetic energy of the vehicle is converted into electric energy. This kinetic energy is produced due to deceleration of the vehicle, which reduces fuel consumption. The transformed electric energy is stored into different energy storage units such as batteries, ultra capacitors or flywheels, which is further utilized for several vehicle applications. The automotive kinetic regenerative braking system is also called as energy recovery system, which is extensively employed in electric and hybrid vehicles.
Key Drivers of Automotive Kinetic Regenerative Braking Market
- Rise in usage of advanced technology in the automotive sector drives the automotive kinetic regenerative braking market. Kinetic regenerative brakes are commonly used in the several modern or luxury cars to charge the battery, which can be further utilized for different car applications. Use of the kinetic braking system leads to less fuel consumption and work for the vehicle engine; therefore, the demand for automotive kinetic regenerative brake is rising in fuel-based modern cars. Moreover, this braking system is considered as an energy-efficient solution for vehicles, which offers higher fuel economy and low carbon emission.
- Increase in government rule and regulations for low vehicle carbon emission also propels the automotive kinetic regenerative braking market. These regulations are prompting automotive manufacturers across the world to shift their preferences toward regenerative braking systems that reduce fuel consumption and subsequently, propel the market.
Challenges in Automotive Kinetic Regenerative Braking Market
- Integration of the automotive kinetic regenerative braking system is expensive, which further increases the weight of the vehicle and consequently, restrains the market. Moreover, high maintenance cost associated with regenerative braking systems also hampers the market.
- A majority of the global businesses where hampered due to the onset of COVID-19 and the resulting lockdown forced people to stay at home, which stopped automotive manufacturing of luxury vehicles and declined automotive sales that further restrained the market. Moreover, the COVID-19 pandemic also disrupted global supply chains, which results in shortage of raw material required for production of regenerative braking system. This supply shortage stopped manufacturing processes and consequently, hampered the automotive kinetic regenerative braking market.
Opportunities in Automotive Kinetic Regenerative Braking Market
- Increase in sales and production of electric and hybrid vehicles across the world is projected to drive the automotive kinetic regenerative braking market during forecast period. The prime use of regenerative braking system started from electric vehicles, as they entirely depend on the battery for their operations. The regenerated braking system generates the energy to charge the battery when the vehicle is decelerated. The electric motor of the vehicle can rotate in both directions for accelerating the vehicle and to charge the battery. Therefore, a rise in the demand for electric vehicles is projected to fuel the automotive kinetic regenerating braking market.
- Rise in demand for plug-in hybrid electric vehicles requires external charging, as they function on both fuel and battery. Therefore, adoption of kinetic regenerative braking is rising to charge the PHEV vehicle batteries, which further fuel the market. Moreover, the demand kinetic regenerative braking system is also increasing in light and heavy commercial vehicles.
Automotive Kinetic Regenerative Braking Market in Europe to Expand Significantly
- Demand for electric vehicles is increasing in Europe, due to high penetration of EVs in the region, decreasing production costs, expanding charging infrastructure, and the urgency to reduce increasing emissions from the transport sector. The European Union’s CO2 emission standards and investments in infrastructure and manufacturing have fueled the adoption of electric vehicles across the region. Europe witnessed strong sales during the first half of 2020, supported by generous incentives and better supply of new and improved EVs. This is likely to boost the market during the entire 2021. Prominent contributors of EV production in Europe, in terms of volume, were the U.K., Germany, and France. The region is anticipated to witness robust sales in the next few years, and hence, Europe is likely to remain a key region for the global automotive kinetic regenerative braking market.
Key Players Operating in Automotive Kinetic Regenerative Braking Market
The automotive kinetic regenerative braking market is highly consolidated. A few of the key players operating in the global automotive kinetic regenerative braking market are:
- Continental AG
- Robert Bosch GmbH
- ZF Friedrichshafen
- Skeleton Technologies
- Aisin Seiki, Adgero S.A.S
- Magneti Marelli S.p.A
- Torotrak plc
- Hyundai Mobis
- Denso Corporation
- Delphi Automotive Plc
- Faurecia SA
Global Automotive Kinetic Regenerative Braking Market: Research Scope
Global Automotive Kinetic Regenerative Braking Market, by Energy Storage Type
Global Automotive Kinetic Regenerative Braking Market, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Electric Vehicle
Global Automotive Kinetic Regenerative Braking Market, by Sales Channel
Global Automotive Kinetic Regenerative Braking Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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