Automotive regenerative braking market is likely to witness an impressive CAGR of 13.5% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Automotive regenerative braking market
Automotive regenerative braking market is likely to witness an impressive CAGR of 13.5% during the forecast period. The prime factors contributing to the demand for automotive regenerative braking is mainly the increasing demand for fuel efficient vehicles, increasing efforts to reduce carbon emissions, and rising cost of fuels, which led the automakers to develop energy efficient systems. Wide adoption of hybrids and electric vehicles, along with the sales of electric vehicles has boosted the growth of the market.
Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the presence of multiple electric vehicle manufacturers such as SAIC, Honda, Toyota, Mitsubishi, and BAIC. Strict laws and regulations in the region focused to reduce environmental pollution is likely to further boost the demand for automotive regenerative braking market during the forecast period.
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Report Scope & Market Segmentation
Automotive Regenerative Braking Market Share: By Propulsion Type
Based on the propulsion type, the market is segmented as battery electric vehicle (BEV), plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicle (HEV). The BEV segment held the largest share of the market in 2019, and is expected to register the fastest growth during the forecast period. The segment is mainly driven by the high adoption rate of electric vehicles, along with advancement in battery technology and integration of supercapacitors to ensure rapid energy transfer in acceleration and deceleration processes that led to the increasing implementation of systems to enhance vehicle efficiency.
Automotive Regenerative Braking Market Share: By Vehicle Type
Based on the vehicle type, the automotive regenerative braking market is segmented as two wheelers, passenger cars, and commercial vehicles. The commercial vehicle segment dominates the market, owing to the rapidly increasing demand for long-haul commercial vehicles. For extended driving range, the installation of regenerative brakes in commercial vehicles is increasing due to limited availability of charging stations.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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