The report forecasts the global automotive regenerative braking system market to grow at a CAGR of 33.24% during the period 2016-2020.
The use of RBS in the buses increase the electric mile range of the bus, and this reduces emission as well as the cost of fuel. Additionally, the US and China are the dominant regions for the hybrid buses, and Europe is expected to gain traction for adoption during the forecast period. Therefore, we expect the trend of RBS application in electric buses will widen the RBS market and make it more sustainable.
According to the report, in some countries, such as the US, the government of California has initiated a clean vehicle rebate project. Under this program, rebates and subsidies are provided to buyers and manufacturers of electric or hybrid cars. To the battery electric vehicle buyers, these rebates are in addition to a $7,500 federal tax credit for zero emission vehicles. Under this program, as of August 2015, the government has provided $249 million as a rebate to 118,112 people, who bought purely electric, hybrid, or hydrogen fuel cell powered vehicles. Additionally, under this program, as of August 2015, the government has provided $173.91 million as a rebate to 68,034 people for the purchase of purely electric vehicles. The incentives to adopt EVs is an important driver for adoption of RBS and will drive the market during the forecast period.
Further, the report states that the complexity of the parts and complex installation needed for RBS poses a challenge for the global automotive RBS market.
- Hyundai Mobis
- Mazda Motor
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by vehicle type
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Market challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/r94r7q/global_automotive
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets