The progress in the automobile sector is predicted to further the electric parking brake system market size 2023. The automobile industry reports are produced by Market Research Future, which highlights market options for expansion. A 20% CAGR is estimated to bolster the market in the approaching period.
The rising concerns for safety and comfort in
vehicles are predicted to push the electric parking brake system market share.
The increased availability of interior cabin space is projected to open up new
possibilities for expansion in the electric parking brake systems market in the
global market.
Furthermore, the necessity to reduce CO2 emissions
is anticipated to transform the electric parking brake system market in the
upcoming forecast period.
Electric Parking Brake Market Key Players:
- Aisin
Seiki Co. Ltd. (Japan)
- Continental
AG (Germany)
- DURA
Automotive Systems (US)
- TBK
Co. Ltd. (Tokyo)
- Hyundai
Mobis Co.Ltd. (South Korea)
- Küster
Holding GmbH (Germany)
- Mando-Hella
Electronics Corp. (South Korea)
- Svenska
Kullagerfabriken AB (Sweden)
- ZF
Friedrichshafen AG (Germany)
- Wuhu
Bethel Automotive Safety Systems Co. Ltd (China)
- Zhejiang
Wanchao Electric Appliance Co. Ltd. (China)
Electric Parking Brake Segmental Analysis
The segmental assessment of the electric parking
brake system market is conducted based on sales channels, components, type,
region, and vehicle type. On the basis of the types, the electric parking brake
system market has been segmented into cable-pull system and electric-hydraulic
caliper system. Based on the sales channel, the electric parking brake system
market has been divided into OEM and aftermarket.
Based on the component, the electric parking brake
system market has been segmented as actuator, electronic control unit (ECU),
and switch. Based on the vehicle types, the electric parking brake system
market has been segmented into light commercial vehicles, passenger cars, and
heavy commercial vehicles. Based on the regions, the electric parking brake
system market consists of Europe, North America, Asia-Pacific, and the rest of
the regions.
Electric Parking Brake Market Detailed
Regional Analysis
The regional investigation of the electric parking
brake system market encompasses North America, Asia-Pacific, Europe, and the
rest of the regions. The regional market in North America is anticipated to
govern the electric parking brake system market in the future due to
augmentation in the implementation of electric parking brakes in the vehicles.
Furthermore, in Mexico, there are a growing number
of auto ancillary production firms that supply the automotive electric parking
brake market. The amplification in sales of vehicles in the US will lead to the
development of the electric
parking brake market share in the forecast
period.
Electric Parking Brake Market Competitive
Analysis
The establishment of robust distribution channels
is estimated to define the development of the market in the future. The
investment in robotic elements in the supply chain is estimated to be seen in
the future to reduce the impact of the human capital on the long term market
expansion. The state of the market is extremely indecisive due to the effect of
the macro factors operating in the global economy. The road to the resurgence
of the market is estimated to be extensive and arduous due to the degree of the
setbacks it has suffered.
The prospects for growth in the market have to be
carefully sought out and examined to ensure that they will ensure the favorable
development of the market in the coming period. The competitors present in the
market are recalibrating their market share to open up new areas of development
in the market. The stress on enhancing the production potential and upgradation
of the workforce are the top priorities to reinvigorate the development
potential of the market in the coming period.
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