How is Need for Curbing Vehicular Emissions Driving Automotive Regenerative Braking Systems Market?

 According to a report published by P&S Intelligence, the global automotive regenerative braking systems (RBS) market is expected to attain $18,228.3 million by 2023, increasing from $6,555.6 million in 2017, and is expected to register an 18.6% CAGR during the forecast period (2018–2023). The market is primarily being driven by the surging requirement for fuel-efficient and eco-friendly vehicles across the globe. Owing to rapidly increasing concerns regarding the environment, auto manufacturers are increasingly being compelled to adopt technologies which can reduce rising exhaust gas emissions and decrease fuel consumption by vehicles.



When vehicle type is taken into consideration, the automotive regenerative braking systems market is categorized into commercial vehicles and passenger cars, between which, the passenger car category is projected to dominate the market during the forecast period. This is primarily due to the expanding electric and hybrid passenger cars market and the growing utilization of RBS systems in such vehicles. Most of the passenger cars at the present time are being equipped with batteries rather than other storage solutions.

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Other than this, North America is also predicted to account for a considerable share of the market during the forecast period and contributed over 15.0% share to the market in 2017. The major reason for the growing demand for automotive RBS in the region is the increasing requirement for zero emission vehicles, which, in turn, is due to the strict government regulations that have been imposed in the region by different government bodies, including the Environmental Protection Agency and the National Highway Traffic Safety Administration.

The imposition of strict regulations for curbing greenhouse emissions from vehicles is one of the major driving factors of the automotive RBS market. In 2015, the European Union implemented regulations about decarbonized transport systems in Europe, which aim at limiting carbon dioxide emissions to 95 grams per km for all passenger cars until 2021 and to 147 grams per km until 2020 for all commercial vehicles. Since RBS has the ability to control vehicular emissions to a large extent, automobile manufacturers are increasingly adopting this technology, thereby leading to the growth of the market.

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Hence, the market is majorly being driven by the surging carbon emissions from vehicles and the need to control them.

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