Press release
Hand Brake Market Size & Share For Automotive- Industry Trend and Forecast 2017 - 2025
The main objective of this report is to define, describe, and forecast the global “Hand Brake Market For Automotive” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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A hand brake is a mechanical device that is used to keep the vehicle stationary. It may be a mechanical hand lever or foot operated brake located either between the front two seats or to the left of gas and brake pedal. It mainly have control over the rear wheels and the hand brake system is completely separate device from the regular braking system. Hand brakes only utilizes cables and levers to operate. These are also called as emergency brakes. The name is given to these because of their capability to stop the vehicle in emergency situation such as complete failure of regular braking system. The cable used in hand brake system is generally made of steel and it is connected to the brake on the wheel. Generally the brakes used on the wheel are drum brakes. The hand brake system is used in a vehicle for keeping the vehicle stationary and safe. It is utilized to drift the vehicle, especially in racing cars and off-road rally racing cars. A hand brake provides stability to the vehicle when it is hit while being parked.
Increase in demand for safety in vehicles, stringent safety norms enacted by governments for vehicle safety, rise in demand for passenger vehicles across the globe, research & development in hand brake, and awareness regarding safety among drivers are major factors that are likely to drive the hand brake market for automotive during the forecast period.
However, development in the field of autonomous vehicles is likely to hamper the hand brake market for automotive in the near future. The restraint to the market is the corrosion of the cable. If the hand brake is not used regularly, the steel wire can get corrode and get stuck in place. This would create problems while applying hand brake.
The hand brake market for automotive can be segmented based on hand brake type, vehicle type, sales channel, and region. Based on hand brake type, the hand brake market for automotive can be classified into two categories. The automatic hand brake has several advantages such as low cost, improved performance on steep inclines, compact size, emergency stop and start is possible, and reduction in manual interaction. Continuous development in the field of automatic hand brake is likely to drive the hand brake market for automotive during the forecast period.
Based on vehicle type, the hand brake market for automotive can be segregated into three categories. Demand for passenger vehicles has been increasing across the globe. Countries in North America and Europe are witnessing stable economic conditions, high percentage of urbanization, and increase in per capita income. These factors are anticipated to drive the passenger vehicle market across the globe.
Based on sales channel, the hand brake market for automotive can be segmented into two types. The aftermarket segment is likely to dominate the hand brake market for automotive owing to the high number of major suppliers providing their services. Cost, quick service, and availability are also likely drive the aftermarket segment during the forecast period.
Based on region, the hand brake market for automotive can be segmented into five regional segments. Asia Pacific holds a major share of the global hand brake market for automotive in terms of supply and demand. In terms of revenue, Asia Pacific is anticipated to hold a major share of the global hand brake market for automotive during the forecast period, owing to the high production of passenger vehicles in the region. Rapid expansion of the auto industry in countries such as India, China, and South Korea is likely to drive the hand brake market for automotive in this region during the forecast period.
Key players operating in the global hand brake market for automotive include TRW Automotive, DURA Automotive system, Catton Control Cables, Clydesdale Jones, Orscheln Products, AL-KO., and Wabtec Corporation.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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