The automotive regenerative braking market is expected to witness exponential growth by 2027 owing to surging product demand in the automotive sector. Additionally, soaring uptake of hybrid and electric cars across the globe is projected to further support market growth through the forecast timeline.
Regenerative braking systems are commonly found in modern cars. In petrol and diesel-based cars, these systems are used to charge the battery that facilitates the functioning of various ancillary systems in the car, which decreases the work required by the engine and improves fuel efficiency. In these cars, regenerative braking is essentially imperceptible to the driver although in hybrid and electric vehicles, it assumes a more active and obvious role.
In hybrid and electric cars, regenerative braking helps charge the larger batteries that drive the vehicle. In hybrid vehicles, these systems lower fuel consumption, reducing the vehicle’s carbon footprint. Moreover, in electric cars, regenerative braking also increases the range of the vehicle. Subsequently, mounting prominence of regenerative braking systems in cars has been favorable for industry expansion in recent years.
Notably, industry players have been focusing on product innovation to develop advanced technologies that are more environment-friendly, which has stimulated business growth. For instance, in May 2021, Aquarius Engines, the Israel-based innovator, presented a hydrogen-based variant of its free-piston linear engine. The 10 kg new hydrogen engine has been designed based on the same technology used in the company’s original and patented single-piston linear engine, which runs solely on hydrogen.
The novel hydrogen engine included a lightweight design as well as a distinctive internal-gas-exchange method, which could massively lower emissions and curb the global carbon footprint. The engine is equipped with a generator that feeds the traction motor or battery of a series hybrid using electricity. Regenerative braking helps the traction motor switch to generator mode when the vehicle slows in order to regain battery power. As a result, rising availability of energy-efficient systems that reduce carbon emissions of the automotive industry in view of proliferating climate awareness has bolstered product outlook in key regions globally.
For extensive analysis, the automotive regenerative braking market has been categorized on the basis of type, propulsion, vehicle, and region. Based on region, Europe accounted for over 8.97% of the automotive regenerative braking market in 2020 and is projected to grow at a CAGR of around 26.6% through the assessment timeframe. Growing presence of manufacturers would boost the availability of electric vehicles in Europe, which is set to propel regional market expansion in the forthcoming years.
The Middle East & Africa automotive regenerative braking market holds a sizable revenue and is slated to grow at a significant pace over 2021-2027. Prominent need to reduce dependency on conventional fuel is expected to foster regional market outlook in the future.