Marine Lithium-ion Battery

Marine Lithium-ion Battery

A regenerative braking system is a type of braking system used in electric vehicles (EVs) and other vehicles with electric motors. It is a system that captures the kinetic energy generated by the braking process and converts it into electrical energy, which can be stored in the vehicle's battery or used to power other electrical systems. The regenerative braking system is typically activated when the vehicle's brakes are applied, and it works by using the vehicle's electric motor as a generator to produce electricity. The electricity is then stored in the vehicle's battery or used to power other electrical systems, such as the vehicle's lights or entertainment system.

The Regenerative Braking System Market is expected to grow at a strong CAGR of around 22.17% owing to the increasing electric vehicles adoption globally. Furthermore, the regenerative braking system has several advantages over traditional braking systems. It allows for more efficient use of energy, as the kinetic energy generated by the brakes is converted into electrical energy rather than being lost as heat. It also allows for longer vehicle range, as the stored electrical energy can be used to power the vehicle's electric motor, extending the vehicle's range. Moreover, trends such as improving battery technology, rising focus on sustainability, increasing urbanization, and increasing demand for the connected and autonomous vehicles is further driving up the demand for the regenerative braking system in the market with the growing demand for the electric vehicles. For instance, In the US, at the end of 2021, roughly 2 million electric light-duty vehicles were on the road — including 700,000 plug-in hybrid electric vehicles (PHEVs).

• Based on type, the market is bifurcated into electric regenerative braking systems (ERB) and mechanical regenerative braking systems (MRB). Among these, the electric regenerative braking system has a high market share in 2022 and will dominate during the forecast period. This is due to ERB being more efficient than MRB because it uses the vehicle's electric motor to generate electricity, which is more efficient than using a mechanical device. This means that ERB can recover more energy from braking and recharge the battery more effectively. Furthermore, ERB systems are considerably safer and more reliable than the MRB system and hence can provide smoother braking experience and improving the overall safety on the roads.
• Based on components, the market is segmented into power inverter, Motor, power electronics controller, and DC motor controller system. Among these, motor and power inverters hold most of the market share in value terms as well as are two of the key components responsible for the most efficient power generation from the regenerative braking system. The electric motor creates resistance to partially slow the car, the motor must be designed to operate at the optimal speed and voltage for the regenerative braking process. This can be achieved using advanced control systems, which can optimize the energy recovery process and improve the overall efficiency of the system, and this is where the power inverters become an integral part of the system.
• Based on propulsion type, the market is bifurcated into BEV and HEV/PHEV. Among these BEVs have a significant share of the market. The primary reason for this domination is the growing electric vehicle infrastructure, the development of efficient and safe battery technology, increasing awareness among the consumers, and rising new model launches from the manufacturers also driving up the adoption rate. BEVs are now coming with long ranges and the price is also in a declining trend where it is approaching parity with the ICE vehicles hence the affordability is also increasing and further reducing the total cost of ownership, pushing the demand for BEVs more than others.
• Based on vehicle type, the market is segmented into passenger car, two-wheeler, and commercial vehicle. Among these the passenger vehicles have a significant share of the market in value terms. The primary reason for this domination is the growing electric vehicle infrastructure, the development of efficient and safe battery technology, increasing awareness among the consumers, and rising new model launches from the manufacturers also driving up the adoption rate. New electric passenger vehciels are now coming with long ranges and the price is also in a declining trend where it is approaching parity with the ICE vehicles hence the affordability is also increasing and further reducing the total cost of ownership, pushing the demand of passenger cars more than others
• For a better understanding of the market adoption of the regenerative braking system market, the market is analyzed based on its worldwide presence in countries such as North America (The U.S., Canada, and the Rest of North America), Europe (Germany, The U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The region with the largest market for regenerative braking system is APAC, where half of the electric vehicle sold worldwide was alone in China in 2022. Furthermore, rising charging infrastructure, and governments incentives and subsidies is further boosting the demand for electric vehicles in the APAC region. Moreover, increasing urbanization and affordadibility of the populace in these regions is also one of the major driving factor pushing up the demand for the electric vehicles in the region, which in turn is boosting the demand for the regenerative braking systems as well in the market. In addition to this huge presence different manufacturers in the electric vehicle segment is further moving the demand by providing options too the consumers as per their need and want, with huge number of product launches at every price points and designs.
• Some of the major players operating in the market include AISIN CORPORATION; Continental AG; HYUNDAI MOBIS; MAZDA; TOYOTA MOTOR CORPORATION; Robert Bosch GmbH; DENSO CORPORATION; ZF Friedrichshafen AG; BorgWarner Inc.; and ABB