Electrical Park Brake (EPB) Market Major Companies, Strategies and New Trends by 2030
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North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa
ZF Friedrichshafen AG, Continental AG, SKF, Electric Mobility Controls, Toshiba Electronic Devices, Storage Corporation, Allegro Micro Systems, LLC, AISIN SEIKI Co., and WABCO
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Top impacting factors that drive the growth of the electrical parking brake system (EPB) market are consistent increase in adoption of electric vehicles and more reliability of electric parking brakes. However, high cost compared to mechanical brakes and lack of medical reimbursement hamper the growth of the market. Furthermore, increase unsafety concerns and growth of self-driving cars provide lucrative opportunities for the electrical parking brake system (EPB) market.
Consistent increase in adoption of electric vehicles
Increasing adoption of automation technology in vehicles and rise undemand for electric vehicles help to increase the demand for electrical parking brake system (EPB). Electrical parking brake system provides safety and stability to the vehicle while leaving it on the slope. Therefore, its features help to propel the growth of the electrical parking brake system (EPB) market in near future.
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More reliability of electric parking brakes
Electrical parking brake system provides more reliability in terms of safety and security. Electrical parking brake system helps driver to use electric brakes in case of brake failure or when the car is parked on a slope. Electrical parking brake system provides safety and reliability in case of any ups and downs of mechanical brakes. Therefore, these features help to boost the demand for electrical parking brake systems, there by leading to the growth of the market.
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