The Global Automotive Regenerative Braking System Market was valued at US$ 6.34 billion in 2021 and is predictable to reach US$ 23.19 billion by 2030 which is projected to attain a CAGR of 15.5 % during the forecast period from 2021- 2030.
A regenerative braking system in an automobile turns heat generated by brake friction into electrical energy, which is stored in high-voltage batteries and used immediately or later depending on vehicle need. Alternative vehicle technologies are critical for reducing the growing carbon footprint caused by automobile emissions. Due to rapidly dwindling oil reserves around the world, automobile manufacturers are focusing on finding alternative power options to replace fuel-based power sources.
The automotive regenerative braking system market is expected to increase significantly due to its benefits, which include improved vehicle performance and reduced braking system wear and tear when compared to traditional braking systems. The regenerative braking system is heavily used by electric vehicles. Toyota, BMW, Ford, and Tesla are just a few of the car companies that have used regenerative braking systems in their vehicles.
Stringent vehicular pollution rules and regulations, as well as an increase in the number of electric vehicles along with the development of electric vehicle infrastructure, are driving the growth of the automotive regenerative braking system market.
However, constraints such as rising vehicle overall costs and weight, as well as expensive repair and maintenance costs, are impeding the automotive regenerative braking system market growth. Furthermore, technological advancements in two-wheeler-based regenerative braking systems, as well as the use of regenerative braking systems in heavy vehicles, are likely to expand the market globally in the upcoming years.
Segmentation and Scope of the Global Automotive Regenerative Braking System Market
Market, By Vehicle
Rest of World
Middle East & Africa
Prominent players in the Global Automotive Regenerative Braking System Market among other includes