Automotive Regenerative Braking System Market Perceive Substantial Growth of $23.18 Billion by 2030

Automotive regenerative braking system market will grow at 15.5% CAGR during 2021-2030

WILMINGTON, DELAWARE, UNITED STATES, September 11, 2023/EINPresswire.com/ — The automotive regenerative braking system is a kinetic energy recovery system employed in energy-saving vehicles that recovers the energy lost during braking and then uses this energy to recharge the battery of vehicle. The amount of recoverable energy depends upon vehicle speed & stopping pattern. Furthermore, 5%-10% of transmitted energy can be saved by using a regenerative braking system. Presently, energy recovery systems in vehicles are used in passenger as well as commercial vehicles to improve fuel economy & reduce vehicular emissions. As a result, the need for regenerative braking system market has evolved to develop a better fuel economy, gaining significant growth in the global automotive industry.

The automotive regenerative braking system market size was valued at $5.66 billion in 2020, and is estimated to reach $23.2 Billion by 2030, growing at a CAGR of 15.5% from 2021 to 2030.

Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the market 2020. However, Europe is expected to grow at a significant rate during the forecast period, due to technological developments across the region.

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Strict vehicular emission norms & regulations and surge in number of electric vehicles along with development of electric vehicle infrastructure drive the global automotive regenerative braking system market. However, surge in overall cost & weight of vehicles and high repair & maintenance cost hamper the market growth. On the contrary, technological developments in two-wheeler based regenerative braking system and advent of regenerative braking system in heavy vehicles would open new opportunities in the future.

Based on vehicle type, the passenger car segment held the lion’s share in 2020, accounting for nearly three-fourths of the market. However, the commercial vehicle segment is expected to register the highest CAGR of 19.8% during the forecast period.

On the basis of system, the electric segment would showcase the highest CAGR of 16.9% during the forecast period. In addition, the segment held the largest share in 2020, contributing to nearly three-fourths of the market. The report includes analysis of the hydraulics and other segments.

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The global automotive regenerative braking system industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2020 in terms of revenue, holding nearly half of the market. However, Europe is expected to manifest the highest CAGR of 17.8% from 2021 to 2030.

The global automotive regenerative braking system market report includes an in-depth analysis of the prime market players such as Advics Co., Ltd., AISIN Corporation, Continental AG, DENSO Corporation, Faurecia, Hyundai Mobis, Maxwell Technologies, Robert Bosch GmbH, ZF Friedrichshafen AG, and Mazda Motor Corporation.

David Correa
Allied Analytics LLP
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