The global electric parking brake market is expected to exhibit a strong 7% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The report provides a detailed analysis of the global electric parking brake market, covering factors such as the major drivers and restraints acting on the market, the major players operating in the market, and the key tactics likely to succeed in the market in the coming years.
Electric parking brakes are an upgrade over the manual handbrake systems seen universally in legacy models of automobiles. The use of electric parking brakes has increased over the last few years due to the growing attention being paid to driver safety and comfort. The theoretically higher reliability of electric parking brakes over manual parking brakes has led to widespread adoption of electric parking brake systems in the automotive industry. The growing regulations intended to improve driver safety are also likely to be a major driver for the global electric parking brake market over the forecast period.
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The growing use of electronic control units has enabled smooth growth of the global electric parking brake market. While manual handbrakes were the norm in older automobiles, the use of electronic control modules has made it easier to adopt electric parking brakes. The growing demand for electronic controls in cars and commercial vehicles is likely to be a major driver for the electric parking brake market over the forecast period.
On the other hand, the high costs of electric parking brakes and the risk of malfunction are the key restraints operating on the market.
Competitive Analysis:
Leading players in the global electric parking brake market include Zhejiang Wanchao Electric Appliance Co. Ltd., Wuhu Bethel Automotive Safety Systems Co. Ltd., ZF Friedrichshafen AG, Svenska Kullagerfabriken AB, Mando-Hella Electronics Corp., Kuster Holding GmbH, Hyundai Mobis Co. Ltd., TBK Co. Ltd., DURA Automotive Systems, Continental AG, and Aisin Seiki Co. Ltd.
Players in the electric parking brake market are likely to focus on improving the reliability of the brake systems in the coming years. In 2016, Honda recalled about 350,000 models of 2016 Civics due to issues with the electric parking brake systems. In May 2019, a new class action lawsuit was proposed against Honda, alleging that the electric parking brake systems are prone to malfunction and unreliability, leading to the vehicles rolling away even when the system is set on “park” mode.
Segmentation:
The electric parking brake system market is segmented based on type, sales channel, components, vehicle type, and region.
On the basis of type, the electric parking brake market is segmented into electric-hydraulic caliper system and cable-pull system.
On the basis of sales channel, the market is segmented into OEM and aftermarket.
On the basis of component, the electric parking brake market is segmented into electronic control unit (ECU), actuator, and switch.
On the basis of vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
Regional Analysis:
North America is likely to dominate the global electric parking brake market over the forecast period. The increasing demand for electronic safety systems in both passenger and commercial vehicles and the growing government support for the widespread adoption of the same are likely to be the major drivers for the electric parking brake market in North America over the forecast period. The growing production of automotive ancillary components in Mexico is also likely to be a major driver for the electric parking brake market over the forecast period. The increasing sale of commercial vehicles in the U.S. is also likely to be a major driver for the electric parking brake market over the forecast period.
Europe is also likely to play a leading role in the global electric parking brake market over the forecast period due to the growing demand for electronic safety systems in automobiles and the growing presence of leading automotive tech developers in the region.
The growing demand for premium vehicles equipped with the latest in safety tech is likely to be the key driver for the electric parking brake market in Asia Pacific.
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https://www.marketresearchfuture.com/reports/electric-parking-brake-market-6924
The new Electric Parking Brake Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the electric parking brake market include ZF Friedrichshafen AG, Continental AG, SKF, Electric Mobility Controls, Toshiba Electronic Devices, Storage Corporation, Allegro Micro Systems, LLC, Aisin Seiki Co., and Wabco.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Electric Parking Brake Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/electric-parking-brake-market/download-sampleMarket DynamicsDemand for the electric parking brake is growing due to a growing focus on enhancing the safety of light commercial and heavy commercial vehicles and advancements in modern automotive engineering.
Electric parking brake manufacturers are collaborating with automotive manufacturers and focusing on developing electric parking brake systems.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The detailed research report on the global electric parking brake market focuses on the macro as well as microeconomic factors that are helping its development.
The report also concentrates on the regulatory framework that is shaping the future of the global market.
Furthermore, the research report also makes not of the existing as well as prevailing pricing structure, emerging areas of applications, and imminent investment opportunities in the global market.
The report also offers an in-depth analysis of how the projected growth factors will shape the market dynamics in the coming years of the forecast period.Moreover, it also gives meaningful as well as actionable insights on the key trends that are developing the current market scenario and which will be lucrative for the future of the global electric parking brake market.
The global electric parking brake market analysis report also provides an in-detailed analysis of the overall vendor landscape.
The report analyzes the key marketing and promotional strategies adopted by the leading companies in the global market.Furthermore, it takes into consideration the existing development, past events, and recent trends to provide a strong and unbiased opinion on the future direction in which these leading companies will be heading into.
Maximize Market Research has published the “Global Electric Parking Brake Market Report 2021”, which has covered the comprehensive analysis of market by different segment as well as demand & supply study and gaps between the same by region.
The report gives an exclusive insights in key players by region with competitive landscape of the market.
The market share in the industry is given by key players, which helps user of the report to understand the market structure at glance.Key players in the industry are profiled in the report that give strategic insights of the companies with their top line and plans of expansion in near tern with M policies.
Profiles of companies will help user to understand the most revenue generating segments for the companies including products, region.Global Electric Parking Brake Market is expected to grow at a CAGR of % in the forecast period of 2020 to 2027.
External factors and internal factors of companies affecting the growth of the companies and ultimately adding the total market are analysed in the report.Global Electric Parking Brake Market size was valued US$ 1.38 Bn.
in 2019 and the total revenue is expected to grow about CAGR 12% from 2020 to 2027, reaching nearly US$ 3.42 Bn.The report also helps in understanding Electric parking brake Market dynamics, structure by analyzing the market segments and projects the Electric parking brake Market size.
The latest trending report Global Electric Parking Brake Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Electric Parking Brake market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 16.5% in the forecast period of 2020 to 2025 and will expected to reach USD 4354.5 million by 2025, from USD 2367.1 million in 2019.The Electric Parking Brake market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/41855-electric-parking-brake-industry-analysis-reportThe major players covered in Electric Parking Brake are:TRWHyundai MobisDURAKUSTERSKFContinentalAPGMandoAISINWuhu BethelZhejiang WanchaoBy Type, Electric Parking Brake market has been segmented intoElectric-hydraulic Caliper SystemsCable-pull SystemsBy Application, Electric Parking Brake has been segmented intoPassenger CarsLight Commercial VehiclesHeavy Commercial VehiclesThe report offers in-depth assessment of the growth and other aspects of the Electric Parking Brake market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)South America (Brazil, Argentina, Colombia)Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Electric Parking Brake Market @ https://www.decisiondatabases.com/contact/download-sample-41855The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Electric Parking Brake product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Electric Parking Brake, with price, sales, revenue and global market share of Electric Parking Brake in 2018 and 2019.Chapter 3, the Electric Parking Brake competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Electric Parking Brake breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Electric Parking Brake market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Electric Parking Brake sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Electric Parking Brake Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-41855Other Reports by DecisionDatabases.com:Global Engine Brake Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Brake Pads Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025Global Brake Fluid Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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