Global Automotive Regenerative Braking Systems Market Size, Share, Analysis and Forecast by 2024
Automotive regenerative braking systems is an energy retrieval mechanism that alters the heat formed from friction in brakes into electrical energy.
The global automotive regenerative braking systems market is growing at a significant rate, due to stringent vehicle emission rules and regulations, and an upsurge in a number of electric vehicles.
On the basis of vehicle type the market is subdivided into a passenger car, and commercial vehicles. Among the all vehicle type, the passenger car accounted the larger share and is expected to grow at faster rate in the automotive regenerative braking systems market due to the mounting numeral of electric passenger cars in countries such as China, and an upsurge in the deployment of regenerative braking systems in the passenger cars.
The global automotive regenerative braking systems market is growing at a significant rate, due to stringent vehicle emission rules and regulations, and an upsurge in a number of electric vehicles.
On the basis of vehicle type the market is subdivided into a passenger car, and commercial vehicles. Among the all vehicle type, the passenger car accounted the larger share and is expected to grow at faster rate in the automotive regenerative braking systems market due to the mounting numeral of electric passenger cars in countries such as China, and an upsurge in the deployment of regenerative braking systems in the passenger cars.
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Stringent vehicle emission rules and regulations, advantages such as enhanced functioning of the vehicle and decrease in wear & tear of the braking system, upsurge in concern about pollution produced by automobiles, upsurge in need of fuel-efficient vehicles, an upsurge in sales of electric vehicle are the primary growth drivers for automotive regenerative braking systems market.
Asia-Pacific is the largest automotive regenerative braking systems market and is observed to witness the fastest growth in the market due to the larger number of vehicles installed with regenerative braking systems.
Key players in the automotive regenerative braking systems market are catering the demand by collaborating with small players and investing in technologically advanced products across the globe.
Aisin Seiki Co. Ltd, Continental AG, Magnetti Marelli S.p.A, Robert Bosch GmbH, Adgero S.A.S, Denso Corporation, ZF Friedrichshafen AG, Autoliv Nissin Brakes Systems, Skeleton Technologies, Mazda Motor Corporation, and Maxwell Technologies are the key players offering automotive regenerative braking systems.
Source: VynZ Research
