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Electrical Park Brake (EPB) Market Major Companies, Strategies and New Trends by 2030

02-22-2021 08:58 PM CET | Logistics & Transport

Press release from: Allied Market Research

Electrical Park Brake (EPB) Market

Electrical Park Brake (EPB) Market

Electrical parking brake (EPB) is a hand brake of a car, which is used to keep the vehicle motionless by applying the brakes of the vehicle. It consists of a hand lever, which is connected with the rear brakes. Electrical parking brake system is used to keep the vehicle stable while leaving it for parking. In addition, it is also helpful in emergency situations when brakes fail to operate. Electrical park brake (EPB) provides safety to the driver and is highly reliable as it resists the backward movement of the vehicle over a slope. Moreover, it also reduces the chances of backward crashing, which boosts the growth of the electrical parking brake market in the coming years.

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Regions covered
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

Companies covered
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.

Contact:
David Correa
Portland, OR, United States
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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