openPR Logo
Press release

Electric Parking Brake Market to Record CAGR of 12% Rise in Growth by 2029

04-14-2023 06:48 PM CET | Tourism, Cars, Traffic

Press release from: Persistence Market Research

Electric Parking Brake Market

Electric Parking Brake Market

Global Electric Parking Brakes Market - explore share, size, latest trends, regional outlook, CAGR, revenue, valuation, competitive landscape and projections

Persistence Market Research (PMR) has published a research report on the global electric parking brake market, which serves as summarization of the potential growth of the market. PMR's extensive study provides readers with a detailed explanation on the market dynamics, including the trends and avenues of growth for various stakeholders through the forecast period of 2019 - 2029. The study offers complete analysis of various market dynamics that are influencing the growth of the electric parking brake market. It also provides accurate qualitative as well as quantitative judgment on the future growth of the market.

This study includes insights about the factors that are influencing the expansion of electric parking brakes industry, including world GDP indicators and other macro and micro economic factors that are driving or hindering market growth. Thus a comprehensive analysis on the demand, as well as the pricing of electric parking brake has been presented in a detailed manner in the PMR study.

Click on the link for sample report: https://www.persistencemarketresearch.com/samples/17455

Information represented in the study on the electric parking brake market can help stakeholders including manufacturers, retailers, suppliers and distributors adopt favorable strategies. Readers can also find an assessment on how the demand for electric parking brake is changing trends across various end-use industries in PMR's study. This study also offers key takeaways about the global as well as regional markets for electric parking brake, which can help decision-makers in the market to construct strategies for the coming years.

Drivers and Restraints:

Drivers:

• Increasing demand for safety features in vehicles: Electric parking brakes offer improved safety features compared to traditional handbrakes. This is because electric parking brakes are more effective in preventing rollbacks and also provide better control and stability to the vehicle.

• Government regulations: Many governments around the world are mandating the use of electric parking brakes in vehicles as a safety measure. For example, the European Union has made it mandatory for all new vehicles to be equipped with electric parking brakes starting from 2023.

Restraints:

• High cost: Electric parking brakes are more expensive than traditional handbrakes. This may act as a restraint to the growth of the market, especially in regions where cost is a major factor in purchasing decisions.

• Maintenance issues: Electric parking brakes require specialized maintenance and repair, which can be more costly than traditional handbrakes. This may discourage some consumers from choosing electric parking brakes.

Research Methodology

A robust and unique methodology has been implemented by the authors of PMR's study on the electric parking brake market to reach to conclusions about the growth landscape. Market-specific statistics and data, which are validated by several resources - both secondary and primary resources - have helped analysts to come up with accurate insights on how the electric parking brake market will grow during the forecast period.

Secondary resources that have played a significant role in the production of this report, consist of various white papers, government statistics, regulations and research papers that shed light on the sales potential of electric parking brakes. Primary resources that have contributed to the production of this study include discussions with key opinion leaders, enterprise size expert inputs and data triangulation.

Also interviews were conducted by analysts with brand managers of market players in the supply chain of the electric parking brake market, and their respective c-level executives. Industry experts and investors were also approached to fetch industry-validated data about the global electric parking brake market. Thus primary and secondary resources provide exclusive information about the market, which acts a mark of reliability and affirmation from electric parking brake market players and makes PMR's estimates on the future prospects of the electric parking brake market more reliable and accurate.

Segmentation of Electric Parking Brake Market

PRODUCT TYPE

• Electric-Hydraulic Caliper Systems
• Cable-Pull Systems

VEHICLE TYPE

• Passenger Cars
• Compact Cars
• Mid Sized Cars
• Luxury Cars
• SUVs
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

SALES CHANNEL

• OEMs
• Aftermarket

REGION

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

Click on the link for customized report: https://www.persistencemarketresearch.com/request-customization/17455

FAQ

1. What are the risks of investing in electric parking brake markets in developing countries?
2. Which strategies proved successful for leading players in the electric parking brake landscape to gain a competitive edge?
3. Which geographical regions will prove to be the most lucrative for electric parking brake providers in the coming years?
4. How are the recent trends in the automotive and manufacturing industry impacting the growth of electric parking brake landscape?
5. What are the critical challenges faced by manufacturers in the electric parking brake market?

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Click on the link to purchase the full report: https://www.persistencemarketresearch.com/checkout/17455

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

Related reports:

Automotive Brake System Market: https://www.persistencemarketresearch.com/market-research/automotive-brake-system-market.asp
Aerospace Galley Trolley and Container Market: https://www.persistencemarketresearch.com/market-research/aerospace-galley-trolley-and-container-market.asp

Contact us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About us:
The Automotive and Transportation division of PMR provides exclusive coverage and actionable insights about the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services, and technology landscape have helped numerous industry stakeholders' right from automakers, component manufacturers, channel partners, and service providers in taking informed decisions and keeping them up-to-date with market behavior.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electric Parking Brake Market to Record CAGR of 12% Rise in Growth by 2029 here

News-ID: 3014689 • Views:

More Releases from Persistence Market Research

North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
North America Wiring Devices Market Projected to Reach USD 26.46 Billion by 2031
Overview of the North America Wiring Devices Market The North America wiring devices market is poised for steady growth over the forecast period, with its size estimated at US$ 18.96 billion in 2024, projected to reach US$ 26.46 billion by 2031, reflecting a CAGR of 4.9%. The market is witnessing substantial expansion due to increasing urbanization, a rising number of residential and commercial construction projects, and the adoption of energy-efficient and
Global Forged Automotive Components Market Poised for Steady Growth, Projected to Reach US$ 70.7 Billion by 2032
Global Forged Automotive Components Market Poised for Steady Growth, Projected t …
The global forged automotive components market is on a robust growth trajectory, currently valued at approximately US$ 50.3 billion in 2025 and forecasted to expand to US$ 70.7 billion by the end of 2032. This growth represents a compound annual growth rate (CAGR) of 5.0% over the coming decade, driven by increasing automotive production, technological advancements, and evolving consumer preferences toward durable, high-performance vehicle parts. Forged automotive components are critical to
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ 2.14 Billion by 2032, Reports Persistence Market Research
Global Electric Cargo Bike Market Set to Accelerate at 11.9% CAGR, Reaching US$ …
The global electric cargo bike market is set to experience substantial growth over the coming decade, with Persistence Market Research (PMR) forecasting a compound annual growth rate (CAGR) of 11.9% from 2023 through 2032. Valued at approximately US$ 800 million in 2021, the market is expected to surge to a projected valuation of US$ 2.14 billion by the end of 2032. Notably, electric cargo bikes accounted for 66.2% of the
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Driven by Urbanization and Demographic Trends
Bicycle Bearings Market Set for Steady Growth with 6.5% CAGR Through 2032, Drive …
The global bicycle bearings market is poised for significant expansion over the forecast period of 2025 to 2032, according to the latest report released by Persistence Market Research. Valued at approximately US$ 5.99 billion in 2024, the market is projected to reach US$ 6.35 billion by 2025 and further escalate to nearly US$ 9.86 billion by 2032. This growth trajectory reflects a compound annual growth rate (CAGR) of 6.5%, underscoring

All 5 Releases


More Releases for Electric

Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry. An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region. Click
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021 The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports. This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research. This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in