PORTLAND, Oregon, October 13, 2016 /PRNewswire/ --
A new report published by Allied Market Research, titled, "Automotive Regenerative Braking System (RBS) Market by System and Vehicle type - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", projects that the global automotive regenerative braking system market is expected to reach $55,180 million by 2022. Passenger cars are anticipated to dominate the market throughout the analysis period. Region-wise, Asia-Pacific is expected to lead, accounting for approximately 50% share of the world automotive regenerative braking system market in 2015.
Summary of the Automotive Regenerative Braking System (RBS) Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/automotive-regenerative-braking-system-market
Regenerative Braking System (RBS) is a mechanism that uses a generator to recover kinetic energy while braking. In conventional vehicles, most of the kinetic energy generated during braking is converted into heat and is dissipated into the environment. RBS helps in converting the generated heat into electrical energy and further store it in an energy storage system such as flywheel, batteries, and ultra-capacitors. Factors that drive the RBS market are the increase in demand for fuel-efficient cars, such as Hybrid Electric Vehicle (HEV) and Plug-In Hybrid Electric Vehicle (PHEV), and stringent rules and regulations by government about automobile pollution. However, restraints associated with RBS increase the overall cost and weight of vehicle. Moreover, advancement in two-wheeler RBS and rise in demand for RBS in locomotives create numerous opportunities for the RBS market.
The system segment is further bifurcated into electric, hydraulics and others (flywheel and spring). As of 2015, electric system segment accounted for the largest revenue owing to its advantages such as less weight and high energy conversion efficiency as compared to others. Moreover, electric system segment is anticipated to witness the highest growth rate of 45.7% CAGR. However, hydraulic and other system are expected to show downward growth trend during forecast period owing to its disadvantage such as increase in overall weight of vehicle.
By vehicle type, the passenger cars segment is expected to maintain its lead owing to its superior benefits such as high efficiency of energy conversion compared to RBS used in trucks or buses and increase in driving distance of electric vehicles. Moreover, RBS can recover approximately half of the energy wasted by passenger cars while braking. This segment accounted for about 55% market share in 2015 and is anticipated to witness a CAGR of 46.9%.
Asia-Pacific accounted for the largest revenue share in 2015 and is anticipated to maintain its dominance throughout the forecast period. This is due to increased adoption of electric vehicles such as electric two wheeler and passenger cars in China, Japan, and India. Moreover, laws and regulations enforced by government regarding vehicular emission supplemented the market growth in Asia-Pacific.
"Regenerative Braking System (RBS) holds a great potential to recover the energy wasted while braking. The executive says, as per the current scenario, electric vehicles are receiving ample attention as a substitute to conventional vehicle powered by IC engine, running on non-renewable fossil fuels such as petrol and diesel. Regenerative braking system for electric vehicle is a key technology that has the potential to improve the efficiency of EVs by 20-50%. RBSs have witnessed a steep growth in passenger cars and commercial vehicles segment, whereas the commercial vehicle RBS market is expected to increase rapidly in the coming years. Moreover, increasing number of Electric Vehicle Supply Equipment (EVSE) such as public and private charging point has fueled the growth of electric vehicle market, further boosting RBS market growth," states Rakesh Singh, Manager, Automotive and Transportation at Allied Analytics LLP
China was the dominant country in Asia-Pacific, especially in the two wheelers and passenger cars segment. As of 2015, China holds 230 million E-bicycle, 83,000 E-cars, and 36,500 E-bikes. This is a result of advancement in technology of electric vehicle and government initiatives such as investment in EVSE infrastructure. Moreover, rise in number of charging station in countries such as China, Japan, and India has augmented the growth of the Asia-Pacific RBS market.
Key findings of the study:
- In the year 2015, passenger cars led the overall automotive regenerative braking system market, generating revenue of $2,489 million.
- Passenger cars segment is expected to maintain its dominant position throughout forecast period and grow at a CAGR of 47%.
- As of 2015, electric RBS segment lead the overall automotive RBS market, generating a revenue of $3,130 million, and is expected to maintain its dominant position throughout the forecast period.
- Electric system segment is anticipated to witness the highest growth rate, growing with a CAGR of 45.7%
- Asia-Pacific dominates the RBS market, accounting for the largest market share in 2015, generating revenue of $2,213 million.
- China is the major shareholder, accounting for more than half share of the Asia-Pacific RBS market.
The key players in the RBS market are focusing on expanding their business operations in the emerging countries, with new product launches as a preferred strategy. The major players profiled in this report include MAXWELL TECHNOLOGIES, INC., Skeleton Technologies, Continental AG, Robert Bosch GmbH, HYUNDAI MOBIS Co., Ltd., ZF TRW, ADVICS CO., LTD., Nissin Kogyo Co., Ltd., Hitachi Automotive Systems, Ltd, and Autoliv Inc.
Summary of similar reports can be viewed at https://www.alliedmarketresearch.com/automotive-and-transportation-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research