As RSBs can curtail the exhaust emissions and fuel consumption of vehicles, the growing prevalence of air-pollution-related deaths is boosting their incorporation. According to the World Health Organization (WHO), approximately 7 million deaths across the world are caused due to air pollution every year. These deaths are caused due to stroke, lung cancer, chronic obstructive pulmonary disease (COPD), heart disease, and acute respiratory infections, which are often caused due to exposure to poor-quality air. The WHO data estimates that 9 out of 10 individuals inhale air that exceeds its limits on the pollutant levels.
In recent years, automotive RBS manufacturers, such as Aisin Seiki Co. Ltd., Mazda Motor Corporation, ZF Friedrichshafen AG, Denso Corporation, Robert Bosch GmbH, Maxwell Technologies, Continental AG, and Adgero S.A.S, have engaged in business expansions, partnerships/collaborations/agreements, mergers and acquisitions, and product launches to cater to the needs of automobile manufacturers. Additionally, such companies are focusing on pricing strategies, developing innovative products and services, and executing marketing initiatives to reach out to a greater number of customers.
According to P&S Intelligence, the Asia-Pacific (APAC) region adopted the highest quantity of RBSs in the preceding years due to the burgeoning demand for long-range battery electric vehicles (BEVs) and fuel-efficient hybrid electric vehicles. Moreover, the implementation of stringent government regulations for the curtailment of GHG emissions in China, Singapore, India, Japan, and South Korea and the expanding automotive industry in these countries will create a huge requirement for RSBs. Owing to these reasons, APAC is also expected to adopt such equipment at the highest rate in the foreseeable future.
Whereas, North America held the second position in the automotive regenerative braking systems market in the past owing to the booming demand for zero-emission vehicles (ZEVs). The quick public shift toward ZEVs can be ascribed to the implementation of strict government regulations regarding vehicular pollution in the U.S. and Canada. For instance, the National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency (EPA) are proactively working toward mitigating GHG emissions.
Therefore, the soaring need to mitigate air pollution levels and the booming demand for fuel-efficient vehicles will fuel the adoption of RBSs.