Press release
Electric Parking Brake Market Net Worth US$ 17.45 Billion By 2028| ZF, Continental, Chassis Brakes International
Global Electric Parking Brake Market was valued at USD 9.08 billion in 2021 and is expected to reach USD 17.45 billion by the year 2028, at a CAGR of 9.77%.
The vehicle can be stopped from travelling on flat or sloping terrain with an electric parking brake. The electric brake system has a benefit over the conventional mechanical braking system in that it has fewer parts, is smaller and easier to handle. Modern cars now include electric parking brakes instead of the traditional hand brakes, which adds useful features including space management, interior aesthetics, and crashworthiness. Electric braking systems are also making it possible to reduce power consumption and vehicle weight, which means that electric parking brakes may soon become a standard feature of modern vehicles.
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Market Dynamics:
Driver:
The primary factors propelling the growth of the electric parking brake market include strict government regulations pertaining to road safety, increased adoption of automated vehicle technology, an increase in demand for driver assistance systems, and an increase in demand for fuel-efficient automobiles. Due to its lighter weight and ease of use compared to mechanically operated brakes, electric parking brakes are increasingly being used in cars, which ultimately increases fuel efficiency and lowers carbon emissions.
Opportunities:
The use of an electronic control unit (ECU) along with the incorporation of other electrical parts, like a rear camera, into the car offers the driver and passenger the maximum level of safety, which helps the electric parking brake market grow. By employing cutting-edge electronic parking brake systems, manufacturers are also focusing on improving the safety of light commercial and large commercial vehicles. The way conventional automotive models are changing as a result of these developments in modern automotive engineering suggests that the market for electric parking brakes could see innovation with the next-generation technologies.
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Segmentation Of Electric Parking Brake Market:
By Type
• Caliper Integrated EPB
• Cable Puller EPB
By Application
• Sedans
• SUVs
• Others
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Regional Insights:
By region, electric parking brake market is segmented into North-America, Latin America, Asia-Pacific, Europe and MEA. In this segment, Europe segment is accounted for the largest segment with the market share of 36.12% and estimated to have a market size of USD 4796.60 million in the year 2026 with the CAGR of 8.77%. The electric parking brakes market in Asia-Pacific is expected to grow at a higher rate in terms of revenue of electric parking brake product types like electric-hydraulic caliper systems and cable-pull systems with the market size of USD 4607.05 million in the year 2026 and the CAGR of 10.86%.
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
Players Covered In Electric Parking Brake Market Are :
• ZF
• Continental
• Chassis Brakes International
• Küster
• Aisin
• Mando
• Hyundai Mobis
• Zhejiang Libang Hexin
• Wuhu Bethel Automotive
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Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures And Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?
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Read More Reports:
https://introspectivemarketresearch.com/reports/air-brake-system-market/
https://introspectivemarketresearch.com/reports/auto-brake-fluid-market/
https://introspectivemarketresearch.com/reports/press-brakes-market/
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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