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Automotive Regenerative Braking Market Size
Automotive Regenerative Braking Market size surpassed USD 4.5 billion in 2020 and is projected to grow at over 22.4% CAGR from 2021 to 2027. Developments in the regenerative braking system and increasing adoption of electric & hybrids vehicles will provide an opportunistic growth scenario.
Industry players are continuously investing in R&D to develop better regenerative braking systems and different methods, such as electromagnetic & flywheel to increase the efficiency of energy conversion and storage methods. For instance, in April 2020, the newly launched MK C1 brake system by Continental lowers the carbon dioxide emissions of electric and hybrid cars by nearly five grams per kilometer on average compared to a conventional hydraulic hybrid brake system.
Government regulations and environmental concerns due to vehicle emissions have led to a shift from traditional to hybrid electric vehicles and plug-in hybrid electric vehicles for a sustainable energy source as a part of the green energy initiative.
How big is automotive regenerative braking market?
The automotive regenerative braking market exceeded USD 4.5 billion in 2020 and will expand at a strong CAGR of 22.4% through 2027, says this GMI report.
How will electric regenerative braking systems perform in the global market?
The electric regenerative braking segment valued at around USD 3.5 billion in 2020 and will grow with the rising prominence of E-regenerative technologies.
Why is North America a lucrative market for automotive regenerative braking suppliers?
North America automotive regenerative braking market size could grow at a CAGR of over 25% through 2027 due to increasing investments in electric vehicles and the installation of fast chargers.
What are the key drivers of battery electric vehicles in the automotive regenerative braking industry?
The overall market revenue from battery electric vehicles segment could cross 45 million units by 2027 owing to the robust government policies and rising battery range.