PUBLISHER: KBV Research | PRODUCT CODE: 1655232
PUBLISHER: KBV Research | PRODUCT CODE: 1655232
The Asia Pacific Automotive Regenerative Braking System Market would witness market growth of 12.1% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Automotive Regenerative Braking System Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,053.2 million by 2031. The Japan market is registering a CAGR of 11.5% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 12.9% during (2024 - 2031).
The increasing urbanization and worsening traffic congestion in major cities drive modern vehicles' adoption of regenerative braking systems. With stop-and-go traffic becoming a daily challenge, regenerative braking is crucial in enhancing energy efficiency by capturing and reusing kinetic energy that would otherwise be wasted. This is especially advantageous in electric vehicles (EVs) and hybrid electric vehicles (HEVs), as energy recovery mechanisms contribute to the enhancement of driving range and the mitigation of battery depletion.
The shift toward low-emission zones (LEZs) and stricter environmental regulations further accelerate the need for regenerative braking technology in urban areas. Ride-hailing companies like Uber, Lyft, and Ola are expanding their EV and hybrid vehicle fleets, benefiting from regenerative braking's ability to optimize energy use and lower maintenance costs. Automakers such as Tesla, Toyota, and Nissan have refined their regenerative braking systems to enhance their vehicles' driving experience in urban settings, ensuring smoother deceleration and improved battery efficiency.
Asia Pacific is home to some of the largest electric vehicle (EV) manufacturers globally, with its diverse economies rapidly embracing electric mobility to address urban pollution and energy security concerns. The increasing adoption of EVs and hybrid vehicles in the region drives strong demand for regenerative braking systems (RBS) to enhance energy efficiency and extend battery life. According to the Japan Automobile Dealers Association (JADA), nearly 1.4 million new electric vehicles were sold in Japan in 2020, with EVs' share in new car sales rising from 35.2% in 2019 to 36.2% in 2020. As a leading automotive hub, Japan produced 8.57 million vehicles in 2023, home to major automakers like Toyota and Honda, both are investing in advanced regenerative braking technologies to meet the country's carbon neutrality goals by 2050 under Japan's Green Growth Strategy. These initiatives, alongside investments in electric mobility infrastructure, further solidify Japan's role in expanding the market. As Asia Pacific continues to scale up its electric mobility sector, the need for regenerative braking systems will surge, ensuring enhanced vehicle efficiency, energy conservation, and long-term sustainability in the region's automotive industry. The Asia Pacific market is positioned for substantial development in the forthcoming years, owing to ongoing investments in RBS technology, advancements in battery technology, and enhancements in energy recovery systems.
Based on Propulsion Type, the market is segmented into Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV), and Fuel Cell Electric Vehicles (FCEV). Based on Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV). Based on Component, the market is segmented into Battery, Flywheel, Motor, and Electronic Control Unit (ECU). Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
Asia Pacific Automotive Regenerative Braking System Market Report Segmentation
By Propulsion Type
By Vehicle Type
By Component
By Country