Electric Parking Brake Market 2022
The global electric parking brake market was valued at ~ US$ 830 Mn in 2014, and is expected to exceed US$ 1.2 Bn by the end of 2019, and CAGR of ~ 12% between 2019 and 2029, and is estimated to reach a global value of ~ US$ 4.2 Bn by the end of 2029. Rising Emphasis on Lightweight Vehicles to Significantly Benefit Electric Parking Brakes Market, Projects PMR Study
Persistence Market Research published a report on the electric parking brake market. The report includes the global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report studies the global electric parking brake market and offers an in-depth analysis for the next ten years.
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The report also covers forecast factors and macroeconomic factors that are anticipated to drive the growth of the global electric parking brake market. The report on the electric parking brake market also discusses latest trends and potential opportunities in the market across the value chain, along with restraints that are expected to hamper the growth of the market.
Key Companies-
- Hyundai Mobis
- SKF Group
- Aisin Seiki Co., Ltd.
- Akebono Brake Industry Co., Ltd.
- Hitachi, Ltd.
- Toshiba Corporation
- Brembo S.p.A.
- Robert Bosch GmbH
- Sanken Electric Co., Ltd.
- ZF Friedrichshafen AG
- Shougang Group Co., Ltd.
- HELLA GmbH & Co. KGaA
- Dura Automotive Systems
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Electric Parking Brake Market Players Focus on Enhanced Fuel Economy
By product type, the global electric parking brake market is segmented into cable-pull systems and electric-hydraulic caliper systems. The electric parking brake market is expected to be prominent in the electric-hydraulic caliper system owing to the safer and more comfortable driving experience and enhanced safety of driver and vehicles. The cable-pull system is forecasted to have less share as compared to the electric-hydraulic caliper system.
Moreover, manufacturers of electric parking brakes are focusing on significant weight saving brake systems as compared to conventional parking brake systems, which supports enhanced fuel economy and reduced carbon emissions. The aforementioned factor is expected to increase the sales of electric parking brakes over the forecast period.
By vehicle type, the electric parking brake market is segmented into passenger vehicles, LCVs, and HCVs. The passenger vehicle segment is sub-segmented into compact vehicles, mid-sized vehicles, luxury vehicles, and SUVs. The luxury vehicles segment is expected to be prominent in the global electric parking brake market.
By sales channel, the global electric parking brake market is segmented into OEM and aftermarket. The OEM segment is projected to be prominent throughout the forecast period.
By region, the electric parking brake market report studies markets across several regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. In these regions, East Asia and Europe are expected to grow with a predominant share in the global electric parking brake market over the forecast period. However, East Asia and Latin America are also representing healthy growth in the electric parking brake market.
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Key Questions Answered in This Report –
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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