The global automotive regenerative braking system market size was US$ 6.54 billion in 2021. The global automotive regenerative braking system market size is forecast to reach US$ 24.18 billion by 2030, growing at a compound annual growth rate (CAGR) of 15.6% during the forecast period from 2022 to 2030.
An automotive regenerative braking system recovers and uses the energy lost during braking to charge a vehicle's battery. Regenerative braking techniques are used for energy-efficient vehicles to recover lost energy. The amount of energy recovered depends on the vehicle's speed and stopping pattern. Both passenger and commercial vehicles utilize energy recovery systems today to improve fuel economy and reduce vehicle emissions.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global automotive industry and electric vehicle industry. There was a decrease in demand for the market due to the lockdown imposed by several countries as a result of travel restrictions and the economic slowdown. As a result of the long-term halts in automobile production, suppliers of automotive regenerative braking systems have been experiencing a reduction in demand. Additionally, the overall service activities of market players have decreased due to a drastic drop in demand for cash to prevent contamination.
Regional Insights
The Asia Pacific region accounted for the largest share of the automotive regenerative braking system market in 2021. Due to the high demand for fuel-efficient hybrid and electric vehicles with long-range batteries, the market is forecast to grow substantially in the region. In addition, stringent government regulations aimed at curbing greenhouse gas (GHG) emissions in India, South Korea, Japan, Singapore, and China and the escalating demand from EV manufacturers are likely to drive the market growth.
Leading Competitors
The leading prominent companies profiled in the global automotive regenerative braking system market are:
Scope of the Report
The global automotive regenerative braking system market segmentation focuses on Vehicle Type, System, Propulsion Type, and Region.
Segmentation based on Vehicle Type
Segmentation based on System
Segmentation based on Propulsion Type
Segmentation based on Region