Increasing demand for fuel efficient vehicles, increasing efforts for mitigation of carbon emissions and rising cost of fuels, are pushing the Automakers to seek for development of energy efficient systems. This changing dynamics has significantly led to developments in regenerative braking systems market. Nowadays, energy recovery systems in vehicles are increasingly getting employed in passenger as well as commercial vehicles to improve fuel economy and reduce vehicular emissions.As a result for the need of better fuel-economy the regenerative braking systems market has evolved, which is gaining a significant growth in global automotive industry because of energy saving application.
Nowadays, regenerative braking systems have become an important feature in hybrid vehicles, electric vehicles and plug-in hybrid electric vehicles. In these type of vehicles, regenerative braking systems are used to generate electricity by convertingmomentum loss during application of brakes. The amount of recoverable energy depends upon the vehicle speed and stopping pattern, 5% to 20% of transmitted energy can be saved by using regenerative braking systems. This energy is then transferred to on-board auxiliaries or comfort functions such as climate control. This energy can also be stored as electricity and then returned to the drive train during acceleration or whenever required. This energy can either be stored in batteries or banks of super capacitors. The energy saving features are one among the latent drivers of regenerative braking systems market.
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The factors driving the growth of global regenerative braking systems market are growing concern for controlling vehicular emission, rising fuel cost and growing concern for advance technology. Although, factors such as increased overall cost of car and maintenance are the major challenges.
The global regenerative braking systems market is geographically segmented intosevenkey regions which are, North America, South America,Eastern Europe, Western Europe,Asia Pacific, Japan andMiddle East & Africa. As of 2013, North America dominates the overall global regenerative braking systems market value, followed by Asia Pacific, Europe and others. Asia Pacific is projected to register a significant CAGR for the forecast period in global regenerative braking systems market. This growth is fuelled by increasing penetration rate of hybrid and plug-in hybrid electric vehicles in regions like Japan, South Korea and China.
Growing concern for controlling vehicular emission in Europe region is also expected to drive the growth of global regenerative braking systems market for forecast period.
On the basis of passenger vehicle type, the regenerative braking systemsmarket is segmented into three sub-segments, which are, hybrid vehicles, electric vehicles and plug-in hybrid electric vehicles. The hybrid vehicle sub-segment of global regenerative braking systems market is the predominant in terms of market value dueincreasing adoption of hybrid vehicles in regions like North America and Europe. The hybrid vehicle passenger sub-segment is forecast to have higher growth rate in regenerative braking systems market, followed by plug-in hybrid electric vehicles and electric vehicles.
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Some of the key players in the global regenerative braking systems market include Continental AG, Delphi Automotive PLC, Denso Corporation, Robert Bosch GMBH and TRW automotive. Acquisitions and mergers are key strategies adopted by major companies to expand their geographical presence and market share in global regenerative braking systems market along with an enhanced customer base.In future, deployment of advanced regenerative braking systems with more efficiency and less prone to energy loss during transmission will provide a completive edge for automotive OEMs.
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