The progress in the automobile sector is predicted to further the electric parking brake system market 2023. The automobile industry reports are produced by Market Research Future, which highlights market options for expansion. A 7% 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.
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.
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 in the forecast
period.
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.
The significant players in electric parking brake system market are
Continental AG (Germany), TBK Co., Ltd. (Tokyo), DURA Automotive Systems (US), Svenska
Kullagerfabriken AB (Sweden), ZF Friedrichshafen AG (Germany), Hyundai Mobis
Co., Ltd. (South Korea), Wuhu Bethel Automotive Safety Systems Co., Ltd
(China), Mando-Hella Electronics Corp. (South Korea), Aisin Seiki Co., Ltd.
(Japan), Küster Holding GmbH (Germany), Zhejiang Wanchao Electric Appliance
Co., Ltd. (China) are among others.
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Continuous
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