Electric Parking Brake are expected to surpass a CAGR of 12% from 2021 to 2031

A newly published report by Fact.MR establishes that the global market for electric parking brakes is expected to surpass a CAGR of 12% until 2031, clocking a valuation of US$ 4 Bn. Increasing tilt towards hydraulic based vehicular assemblies is majorly driving demand for the market in forthcoming years.

Historically, from 2016 to 2020, electric parking brake sales expanded at over 10% CAGR, reaching a valuation of US$ 1.3 Bn. Prospects somewhat dipped amidst the COVID-19 pandemic, as mandatory shutdowns hindered automotive industry manufacturing processes in the first half of 2020. As relaxations were granted, factory premises resumed operations, restoring said projections.

The electric parking brake features fewer mechanical components and requires less maintenance, as well as providing a highly efficient emergency braking system, intelligent management of malfunctions by the ECU, and more space in the vehicle’s central area. By replacing mechanical levers and cables with an electronic system, the parking brake will provide drivers with more assistance. Also, it frees up space in the dashboard for other purposes.

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Electric Parking Brake Market – Scope of Report:

A latest publication by Fact.MR on the global Electric Parking Brake market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.

The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.

The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2021-2031.

Important indicators for the successful growth of the Electric Parking Brake market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.

This research study can support readers to know the demand for Electric Parking Brake supplements, and the quantitative development opportunities during the study period.

The research is beneficial for shareholders in Electric Parking Brake, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.

Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.

Competitive Landscape:

Fact.MR has profiled some of the key players in the global electric parking brake market such as Aisin Seiki Co., Ltd., Continental AG, DURA Automotive Systems, TBK Co., Ltd., Hyundai Mobis Co., Ltd., Küster Holding GmbH, Mando-Hella Electronics Corp., Svenska Kullagerfabriken AB, ZF Friedrichshafen AG and Wuhu Bethel Automotive Safety Systems Co., Ltd.

The top market players in the electric parking brake market are focusing on product development and innovation. Electric parking brake manufacturers are focusing on developing technologically advanced and innovative solutions which can meet the changing customer requirements.

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Report benefits & key questions answered

• Post covid consumer spending on Electric Parking Brake: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
• Electric Parking Brake demand outlook: the market intelligence study reports highlights the factor propelling the demand for Electric Parking Brake. As per the study, the demand for Electric Parking Brake will grow through 2031.
• Electric Parking Brake historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2021-2031.
• Electric Parking Brake consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.

Electric Parking Brake Market Segmentations:

• Type

  • Electric-Hydraulic Caliper System Parking Brake
  • Cable-Pull System Electric Parking Brake

• Component

  • Electronic Control Unit
  • Electric Parking Brake Actuator
  • Electric Parking Brake Switch

• Vehicle Type

  • Electric Parking Brake for Passenger Cars
  • Electric Parking Brake for Light Commercial Vehicles
  • Electric Parking Brake for Heavy Commercial Vehicles

• Sales Channel

  • Electric Parking Brake Sales for OEM
  • Electric Parking Brake for Aftermarket

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