Global Electric Parking Brake Market Is Driven By Increasing Demand For The Product In Automotive Industry
Pune, Maharashtra, November 12, 2019 (Wired Release) Prudour Pvt. Ltd. The global electric parking brake market is projected to be US$ 5,465.7 Mn in 2018 to reach US$ 9,414.1 Mn by 2028 at a CAGR of 5.7%.
Electric Park Brakes are used on passenger vehicles to hold the vehicle stationary on grades and flat roads. This was traditionally carried out using a manual parking brake. In an Electric Parking Brake system, the driver activates the holding mechanism with a switch and the brake pads are then electrically applied onto the rear brakes. There are two mechanisms that are used in the electric parking brake systems, one is cable puller systems and the other is caliper integrated systems.
Increasing adoption of automation technologies in vehicles and rising concern about road safety are expected to fuel growth of the target market.
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Global Electric Parking Brake Market Revenue (US$ Mn), 2018–2028
Integration of EPB in small cars is expected to help in increasing the reach of the product and Usage of EPB aids in weight reduction that leads to fuel saving; this factors expected to fuel growth of the target market.
High prices and lesser penetration of the product may hinder the growth of the target market.
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Global Electric Parking Brake Market by Formulation, 2018
Electric-hydraulic Caliper System accounts for the majority share in the global electric parking brake market.
On the basis of region, the market is segmented into United States, China, Europe, Japan, Southeast Asia, India, South America and Rest of the World. The Europe accounts for the majority share in the global electric parking brake market, followed by US.
The research report on the global electric parking brake market includes profiles of some of major companies such as ZF Friedrichshafen AG, Continental Aktiengesellschaft, Kuster Holding Gesellschaft Mit Beschrankter Haftung, DURA Automotive Systems, LLC, Mando Corporation, Wuhu Bethel Automotive Safety Systems Co., Ltd, Zhejiang Libang Hexin Intelligent Braking System Co. Ltd., Aisin Seiki Co., Ltd., Hyundai Motor Company etc.
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