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Electric Parking Brake Market to reach USD 4.41 Bn in 2029 at a CAGR of 12 percent Research and development, Growth hubs and Huge Investments

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Electric Parking Brake Market to reach USD 4.41 Bn in 2029 at a CAGR of 12 percent Research and development, Growth hubs and Huge Investments

December 09
16:56 2022
Electric Parking Brake Market to reach USD 4.41 Bn in 2029 at a CAGR of 12 percent Research and development, Growth hubs and Huge Investments
Electric Parking Brake Market
Electric Parking Brake Market size was valued at USD 1.78 Bn. in 2021 and the total Electric Parking Brake revenue is expected to grow at a CAGR of 12.0% from 2022 to 2029, reaching nearly USD 4.41 Bn.

Pune, 9, Dec2022: Electric Parking Brake Market is driven by the massive growth in the automobile industry. The report on Electric Parking Brake Market analysed by Maximize Market Research covers a detailed competitive and regional analysis of the market. The Electric Parking Brake Market is expected to grow from USD 1.78 billion in 2021 to USD 4.41 billion in 2029 at a CAGR of 12 percent for the forecast period from 2022 to 2029. 

Electric Parking Brake Market Scope and Research Methodology

The report is a detailed analysis of the Electric Parking Brake Market by country, regional and global presence. Using data over a span of ten years, current and future trends in the Electric Parking Brake Market are presented in the report along with growth rate and market size forecasts using historical data. A key finding in the data includes market share by region and market penetration.  Regional analysis of the market is conducted at local, regional and global levels for a better understanding of the market penetration, competitive structure, pricing and demand analysis.

For the competitive analysis of the Electric Parking Brake Market, key players in the industry are listed by region, revenue, financial status, portfolio, technological advancements adopted, social media presence, corporate social responsibility measures, mergers and acquisitions, joint venture and strategic alliances in detail. New entrants in the market are also listed with an analysis of their growth prospects and future business outlook. Such analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with an overall view of the Electric Parking Brake Market for formulating investment approaches and marketing tactics to well promote the product in the market.

For market sizing, bottom-up approach was employed to validate the market size of different segments. Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, subject experts and marketing professionals were included in the primary methods. Secondary data was collected from a list of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. For a detailed study of the interplay of various factors affecting the market, regression analysis was used.  SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @all https://www.maximizemarketresearch.com/request-sample/70313 

Electric Parking Brake Market Overview

An Electric Parking Brake serves the function of avoiding the motion of the vehicle when parked. However, this is different compared to the conventional handbrake because it is electronically controlled. Other functions include preventing the backward movement of the vehicle on a slope when it resumes driving. Globally, this system is being adopted rapidly for an enhanced driving experience.

Electric Parking Brake Market Dynamics

Passenger cars dominate road transport and are expected to witness an increase in demand. Massive investments are being initiated for advancements in this segment of automobiles with respect to design, performance, mechanics, engine, aerodynamics, aesthetics and ergonomics. Such developments in the market are expected to increase the demand for the automobile industry. Coupled with an increase in willingness to spend is expected to fuel the Electric Parking Brake Market growth over the forecast period.

Safety measures in the automobile industry have been gaining traction with the increasing number of accidents, especially among those drivers who have less than a year of driving experience. Cases are noted regarding the wrong usage of the handbrake that led to accidents. Such developments have resulted in an increase in vehicle safety measures to protect the driver as well the pedestrians and other drivers on the road. Developments like these are expected to drive the growth of the Electric Parking Brake Market over the forecast period.  

Electric Parking Brake Market Regional Insights

North America held the largest market share in 2021 in terms of revenue and is expected to grow at a growth rate of 11.7 percent. The growth in the automobile industry is the key driver for the regional Electric Parking Brake Market growth. The regional growth is also supported by massive investments in the Electric Parking Brake Market that is resulting in extensive research and development. New innovations in the Electric Parking Brake Market are boosting demand. The U.S. held a significant share in North America on account of major manufacturers concentrated in the state.

Electric Parking Brake Market Segmentation 

By Vehicle Type:

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By System Type: 

  • Cable Pull System
  • Electric-hydraulic Caliper Systems

Electric Parking Brake Market Key Competitors include: 

  • Hyundai Mobis
  • SKF Group
  • Aisin Seiki Co., Ltd.
  • Akebono Brake Industry Co., Ltd.
  • Hitachi, Ltd.
  • Toshiba Corporation
  • Brembo S.p.A.
  • Robert Bosch GmbH
  • Sanken Electric Co., Ltd.
  • ZF Friedrichshafen AG
  • Shougang Group Co., Ltd.
  • HELLA GmbH & Co. KGaA
  • Dura Automotive Systems
  • TRW Inc.
  • KUSTER Holding GmbH
  • Continental AG
  • DURA Automotive Systems
  • Aisin Corporation
  • Mando Corporation
  • AB SKF
  • Hyundai Mobis
  • Wuhu Bethel
  • APG
  • Zhejiang Wanchao
  • Mando

For Detail insights on this market, request for methodology here @ https://www.maximizemarketresearch.com/request-sample/70313 

Key questions answered in the Electric Parking Brake Market are: 

  • What is Electric Parking Brake? 
  • What is the current growth rate of the Electric Parking Brake Market?  
  • What is the nature of competition in Electric Parking Brake industry in developed and developing economies? 
  • What are the drivers for the growth of the Electric Parking Brake Market?
  • Who are the key players in the Electric Parking Brake Market?
  • Who held the largest share in the Electric Parking Brake Market in Europe? 
  • Who are the market leaders in Electric Parking Brake in USA and Canada?
  • Who are the market leaders in Electric Parking Brake in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Electric Parking Brake Market? 
  • Who held the largest market share in Electric Parking Brake Market? 
  • What are the factors for the growth of Asia-Pacific region in Electric Parking Brake Market?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Vehicle Type, System Type and Region 
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading automotive and transportation research firm, has also published the following reports:

Global Parking Reservation System Market –The Global Parking Reservation System Market size is expected to reach USD 4.75 billion by 2029 at a CAGR of 21.2 percent during the forecast period. The Global Parking Reservation System Market is expected to be driven by growth in developing economies and advancement in parking reservation with the advent of digitization,  

Automated Parking Systems Market –The Automated Parking Systems Market size is expected to reach USD 4.28 billion by 2029 at a CAGR of 15.2 percent during the forecast period. The Automated Parking Systems Market is expected to be driven by advancement and growth of the automobile industry and awareness to reduce carbon emissions. 

Automotive Retrofit Electric Vehicle Power Train Market –The Automotive Retrofit Electric Vehicle Power Train Market size is expected to reach USD 102.67 billion by 2029 at a CAGR of 7.2 percent during the forecast period. The Automotive Retrofit Electric Vehicle Power Train Market is expected to be driven by development in electrification of vehicles and government promotions and initiatives. 

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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