Global Electric Parking Brake Market- Industry Analysis and forecast 2020 – 2027Posted by manoj jagtap on February 4th, 2021 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. Global Electric Parking Brake Market Global Electric Parking Brake Market: Overview Electric Parking Brakes are space convenient, so they are likely to adopt the place of conventional hand brakes in modern automotive. Electric Parking Brakes are more lightweight than conventional hand brake system. Due to this, Electric parking brakes reduces the overall weight of vehicle and in result saves space and fuel. This factor makes it possible to use it in modern vehicle as an essential part. Manufacturers are also trying to implement advanced technologies which are space saving as well as more reliable. Safety of Lightweight commercial vehicle and passenger vehicle can be ensured by installing electric parking brake. Next generation technologies in modern vehicle needs system like this, making vehicle more autonomous to safety. Global Electric Parking Brake Market: Key Development Electric Parking Brake manufacturers are collaborating with automotive manufacturers and will focus on development of EPB (Electric Parking Brake) system. This will result in low price solution for EPB. Continental is developing Electric Parking Brake concept for internal expanding drum brakes. These brakes are especially designed for affordable and compact vehicles. Continental is planning to combine drum brake and parking brake with Electric Parking Brake system. This will enable push button type operation of parking brake. By taking into consideration markets of India and China are showing increase in demand for advanced safety devices which is expected to drive the market. Global Electric Parking Brake Market: Drivers Increasing demand to make vehicle more compact and lightweight are likely to surge demand of advanced technologies which saves space. Increasing Market for Passenger vehicle and lightweight commercial vehicle will create opportunity for Global Electric Parking Brake Market. Rising safety concerns and more reliable technologies need are driving market of Global Electric Parking Brake. Global Electric Parking Brake Market: Challenges Currently, Electric Parking Brake is being incorporated in premium class and luxury class vehicles. Electric Parking Brakes are costlier than conventional hand brake system. Global Electric Parking Brake Market1 Global Electric Parking Brake Market: Regional Overview Global Electric Parking Brake Market is segmented into regions: Asia Pacific, North America, Europe, South America, and Middle East & Africa. The automobile industry is expected to gain tremendous market growth with only a few vehicles will remain with hand brake operated in new car sales. Dacia and Suzuki are leaders in this industry. Premium cars are likely to adopt this change in technology rapidly such as Audi, Land Rover, Jaguar, Mercedes, Lexus, and Porsche no longer have any model equipped with manual hand brake. Global Electric Parking Brake Market: Segmentation Global Electric Parking Brake Market is segmented into Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), System type (Cable Pull System, Electric-hydraulic Caliper Systems), and Region (North America, Europe, Asia pacific, Middle East and Africa, and Latin America). From regional segment, Europe has dominance over Global Electric Parking Brake Market as government rules are getting severe to implement more safe and reliable technologies in vehicles. In terms of System type, electric hydraulic caliper system has more market capture. 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. Clear representation of competitive analysis of key players by Supply Chain, price, financial position, Product portfolio, growth strategies, and regional presence in the Electric parking brake Market make the report investor’s guide. For More Information Visit @: https://www.maximizemarketresearch.com/market-report/global-electric-parking-brake-market/70313/ Scope of the Electric parking brake Market Electric parking brake Market, By Vehicle Type • Passenger Vehicle • Cable Pull System • Asia Pacific • Continental This Report Is Submitted By : Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Like it? Share it! More by this author |