Asia-Pacific Predicted to Witness Boom in Automotive Regenerative Braking System Sales in Future
Asia-Pacific Predicted to Witness Boom in Automotive Regenerative Braking System Sales in Future
Blog Article
The implementation of strict government regulations regarding greenhouse gas emissions in several countries is propelling the demand for automatic regenerative braking systems across the world. With the rise in air pollution, because of escalating greenhouse gas emissions, various environmental agencies and transportation departments around the world are enacting regulations for controlling the soaring carbon levels. The European Union (EU) enacted regulations and policies regarding decarbonized carbon transport systems in Europe in 2015.
These regulations are aimed at reducing the carbon dioxide emissions to 95 grams per kilometer for all passenger cars by 2021. In addition to this, these regulations are aimed at reducing the carbon dioxide emissions to 147 grams per kilometer for all commercial vehicles by 2020. Apart from these factors, the increasing public preference for cleaner and greener vehicles in many countries is also fueling the demand for automotive regenerative braking systems across the globe.
Due to the aforementioned factors, the global automotive regenerative braking systems market is exhibiting rapid expansion. Battery, hydraulics, ultracapacitors, and flywheel are the major types of storage systems used in automotive regenerative braking systems. Out of these, the demand for the battery-based regenerative braking systems was found to be the highest during the last few years. This was because of the extensive utilization of battery-based regenerative braking systems in passenger cars.
On the other hand, the sales of ultracapacitors will be the highest in the forthcoming years, on account of the better charge-discharge ability of these storage systems and their ability to function at lower temperatures than that of the other devices. Depending on vehicle type, the automotive regenerative braking systems market is divided into commercial vehicles and passenger cars. Between these, the passenger cars category recorded higher growth in the market in the past.
Geographically, the demand for automotive regenerative braking systems is currently the highest in the Asia-Pacific (APAC) region, as per the findings of P&S Intelligence, a market research company based in India. The automotive regenerative braking systems market is predicted to register huge expansion in this region in the future years as well, because of the surging requirement for fuel efficient hybrid vehicles and the growing demand for long range battery electric vehicles in this region.
North America is also predicted to witness an explosively rising demand for automotive regenerative braking systems in the coming years. This will be because of the growing popularity of zero emission vehicles (ZEVs), due to the implementation of strict government regulations, in this region. Many administrative bodies such as the National Highway Traffic Safety Administration (NHTSA) are increasingly focusing on reducing greenhouse gas emissions in the region. This is pushing up the demand for automotive regenerative braking systems.
Hence, it is safe to say that the sales of automotive regenerative braking systems will shoot-up all over the world in the upcoming years, primarily because of the growing demand for zero emission vehicles and the rising requirement for reduction in greenhouse gas emissions.
Source: P&S Intelligence