According to the latest market research study released by Technavio, the global automotive RBS market is expected to grow at a CAGR of more than 33% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global automotive RBS market based on vehicle type:
Global automotive RBS market share by vehicle type 2015
|
Hybrid vehicles |
61.94% |
|
Pure electric vehicles |
19.98% |
|
Plug-in hybrid vehicles |
17.72% |
|
High performance electric motorcycle |
0.36% |
Source: Technavio
The top three revenue contributing vehicle type segments are discussed below:
Global automotive RBS market by hybrid vehicles
In 2015, the hybrid vehicle segment has accounted for around 62% of the global automotive RBS market. This segment is expected to witness the growth rate of around 24%-25% during the forecast period. APAC is the key revenue generating region in this segment due to the growing adoption of the RBS through hybrid vehicles. Hybrid vehicles are the part of the EV, which combines the ICE system with the electric system. To increase the fuel efficiency of the vehicle, the electric power train is used, while conventional ICE system is used to drive the vehicle. In 2015, there was an increase in the global population of hybrid vehicles where Japan alone accounted for around 5 million vehicles, with Toyota being the market leader in the hybrid vehicle segment with a total of over 9 million vehicles sold.
“In places like India the demand for hybrid vehicles is expected to increase, due to lack of charging stations as the hybrid vehicles do not require charging. They charge the batteries through ICE engine while traveling. Furthermore, the government is also taking initiatives to push the demand for fuel efficient and environment-friendly HVs in these regions. Additionally, hybrid vehicles will uphold their dominant position in the RBS market during the forecast period due to the constant push toward complete electric vehicles,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive electronics.
Global automotive RBS market by pure electric vehicles
In 2015, the pure electric vehicles accounted for around 20% of the global automotive RBS market and is expected to witness the highest growth among all segments during the forecast period. These vehicles are powered by the electric drivetrain and the existence of electric motors is the prime component for driving these vehicles, which are ideal for the growth of the RBS market. For example, as compared to ICE vehicles, RBS allows the electric vehicles to increase their mile range, which is the prime factor acting as a barrier for them. In 2015, the market witnessed around 70 legal models available for customers across the range of pure electric vehicles. Nissan Leaf is the market leader in the pure electric vehicle segment, followed by Tesla S model. The presence of top vendors like Tesla, Nissan, General Motors, and Toyota gives customers more options and encourages the adoption of RBS. The key revenue generator of this segment is the US followed by China and Japan. The customers are given option to take benefits due to the availability of the aftermarket to convert conventional ICE vehicle into electric vehicle. Pure electric market is highly affected by factors like global GDP and fuel prices. It is expected that the fuel prices will rise during the forecast period which will increase the demand for EVs. Moreover, if the global GDP continues to improve, there will be more uptake of RBS in vehicles during the forecast period.
Global automotive RBS market by plug-in hybrid vehicles
The plug-in hybrid vehicle accounted for around 18% of the global automotive RBS market in 2015. A plug-in hybrid has an electric plug to recharge the battery through an external source, so the main power train in this vehicle is electric, while ICE is used as a backup to increase mile range. This segment has high mile range, as ICE is used as a backup and it is environment-friendly by nature. Based on the aggregate sales of plug-in hybrid vehicles, the US emerged as the key revenue generator, followed by China. Among the 25 models in this segment worldwide, General Motors is the market leader. The presence of vendors like Audi, Mercedes-Benz, Volvo, and Volkswagen will further drive the growth of this segment in the coming years.
The top leading vendors operating in the global automotive RBS market are:
- Continental
- Bosch
- Hyundai Mobis
- ZF
- Mazda
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive RBS Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Motorcycle Anti-Lock Braking System Market 2016-2020
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