The market growth is mainly driven by stringent government regulations associated with greenhouse gas emission by vehicles. Many government bodies around the world, such as European Commission and Environmental Protection Agency (EPA) have imposed strict regulations regarding greenhouse gas emission, which is expected to benefit the automotive Regenerative Braking Systems market during the forecast period.
Based on storage type, the Automotive Regenerative Braking systems market is categorized into battery, flywheel, hydraulics, and ultracapacitors. The batteries category is estimated to hold the largest share in the market, with around 75% contribution in 2017. High usage of battery-based RBS system in passenger cars is the major factor driving the growth of this category.
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On the basis of vehicle type, the automotive regenerative Braking Systems Market is categorized into passenger cars and commercial vehicles. Passenger car has been the dominant category in terms of share, with an estimated contribution of more than 90% in 2017. Each vehicle type is further categorized on the basis of storage type into batteries, flywheel, hydraulics, and ultracapacitors. In most of the passenger cars equipped with these braking systems, battery is the dominant storage type, with an estimated contribution of more than 70% in 2017.
Asia-Pacific is estimated to hold the largest share in the automotive regenerative braking systems market, with a contribution of close to 65% in 2017. The region is also expected to be the fastest growing market for automotive regenerative braking systems during the forecast period. The market in the region is expected to grow at a robust pace owing to the surge in the demand of fuel efficient hybrid vehicles, and rising need of long range battery electric vehicles. In addition, the stringent government regulations and increasing demand of RBS for electric vehicles are also expected to bolster the market growth.
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Some of the prominent players operating in the automotive regenerative braking systems market are Continental AG, Adgero S.A.S, Skeleton technologies, and Denso Corporation. The other key players in the industry include Aisin Seiki Co. Ltd., Autoliv Nissin Brake Systems, Eaton Corporation Plc, Magneti Marelli S.p.A, Maxwell Technologies, Mazda Motor Corporation, Robert Bosch GmbH, Skeleton Technologies., Torotrak Plc, and ZF Friedrichshafen AG.
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