A recent report published by Infinium Global Research on the automotive electronic parking brake market provides an in-depth analysis of segments and sub-segments in the global as well as regional automotive electronic parking brake market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive electronic parking brake market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automotive electronic parking brake market. According to the report, the global automotive electronic parking brake market is projected to grow at a CAGR of 7.86% over the forecast period of 2019-2025.
Market Insight
Many of the car manufacturers today produce cars packed with electronic parking brakes. Car manufacturers including BMW AG, Daimler AG, Ford Motor Company, Hyundai Motor Company, Mitsubishi Motors Corporation, and others have electronic parking brakes integrated into their cars. The electronic parking brakes market is consolidated in nature with few of the players in the market accounting for the large part of the market share. The key players in the market including ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., Continental AG, Robert Bosch GmbH, Toshiba Electronic Devices & Storage Corporation, and others are investing a large amount of money on product development.
The increase in road safety concerns is the key factor driving the automotive electronic parking brake market. The growing number of road incidents has made the manufacturers integrate safety features including electronic parking brake. Moreover, the growing penetration of autonomous vehicle technology is expected to boost the automotive electronic parking brake market. Furthermore, the lightweight and ease of operation of electronic parking breaks are further propelling the automotive electronic parking brake market. However, the higher cost of the system is the major factor hampering the growth of the automotive electronic parking brake market. Additionally, the growing demand for luxury vehicles is expected to provide opportunities for the automotive electronic parking brake suppliers in the future.
In terms of region, the automotive electronic parking brake market in North-America generates the highest revenue. The automotive electronic parking brake market in this region holds a large amount of share of the global market. The domination of the North-America region in the automotive electronic parking brake market attributes to the stable economic conditions, high per capita income, and low bank interest rates for a car purchase. Moreover, an increase in demand for passenger vehicles and light commercial vehicles is expected to boost the growth of the automotive electronic parking brake market in North-America.
Segment Covered
The report on global automotive electronic parking brake market covers segments such as type, vehicle type, and sales channel. On the basis of type, the sub-markets include electric-hydraulic caliper system, and cable-pull system. On the basis of vehicle type, the sub-markets include passenger vehicle, and commercial vehicle. On the basis of sales channel, the sub-markets include OEM, and aftermarket.
Companies Profiled:
The report provides profiles of the companies in the market such as ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., Continental AG, Küster Holding GmbH, Robert Bosch GmbH, DURA Automotive Systems, Toshiba Electronic Devices & Storage Corporation, Mando-Hella Electronics Corp., Hyundai Mobis Co., Ltd., TBK Co., Ltd., and Other Companies.
Report Highlights:
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive electronic parking brake market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
