The electric parking brake grips the automobile on the ground road or hill road and widely utilized for emergency stops. Electric parking brake has very few number of components and can be actuates with the help of button, thus creating more space in the automobile cabin. Electric parking brake can be accommodated into in any type of vehicle with different size and power capacity.

The electronic parking brake is weightless, compact in size which henceforth enhances the fuel economy and reduce carbon emission. The vehicle OEMs are emerging with different innovative technologies to advance the performance of the electric parking brake system, reduce cost, weight and size. Technological advancement and an introduction of electric and hybrid vehicles are majorly anticipated to propel the electric parking brake market over the forecast period across the globe.

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However, the high cost of Electric Parking Brake and environmental regulation to curb the carbon emission is subjected to hamper the market growth over the forecast period. However, the growth of the market is expected to face hindrance due to the high cost of the electric parking brake and lack of skilled technicians for the electronic system in vehicle.

Global Electric Parking Brake Market: Segmentation

The sections, by type, component, vehicle type, and sales channel in the electric parking brake market evaluate the present scenario as well as growth prospects of the regional electric parking brake market for 2018–2027. The APEJ electric parking brake market has been estimated to dominate the global electric parking brake market by value owing to the phenomenal rise in the sales of passenger vehicles, accounting for a maximum revenue share of the market by 2017 end. Europe and North America electric parking brake markets are expected to account for over 35% collaborative revenue share, of the global electric parking brake market by 2027 end. Among the emerging markets, the MEA electric parking brake market is estimated to exhibit a significant CAGR of more than 7.5% over the forecast period, followed by Japan with a CAGR of about 7.0%.

To provide in-depth insights into the pattern of demand for the electric parking brake market, the market is segmented by type. It includes Electric-Hydraulic Caliper System and Cable-Pull System. Electric-Hydraulic Caliper System segment is expected to dominate the electric parking brake market over the forecast period, regarding value, which accounted for more than 65% value share in 2017.

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To provide in-depth insights into the pattern of demand for the electric parking brake market, the market is segmented by component. It includes below Electronic Control Unit, Actuator and Switch. Electronic Control Unit segment is expected to dominate the electric parking brake market over the forecast period, regarding value, which accounted for more than 35% value share in 2017.

The section – electric parking brake market analysis, by vehicle type comprehensively analyzes the market by vehicle type in which electric parking brake are installed. The market is segmented into Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle.  The segment, passenger car in electric parking brake market accounted for the highest market share of more than 45% in 2017.

The section – electric parking brake market analysis, by sales channel comprehensively analyzes the market by different sales channel through which the electric parking brake are sold. The market is segmented into OEM and Aftermarket. OEM segment accounted for the highest market share in 2017. However, the aftermarket segment is also subjected to witness a healthy CAGR of more than 5% during the forecast period due to the expansion of automotive sector across the developing economies.

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Also, increasing demand for electric parking brake in the APEJ region is driving the prominent manufacturers to strategically enter in the APEJ market with an objective to target the opportunities in the region. The electric parking brake market in North America and Europe region has been steady over the last decade, and hence, the companies are targeting emerging economies markets to increase their sales revenues.

Global Electric Parking Brake Market: Competition Dashboard

Fact.MR has profiled some of the most prominent company’s active in the global electric parking brake market such as Aisin Seiki Co., Ltd., Continental AG, DURA Automotive Systems, TBK Co., Ltd., Hyundai Mobis Co., Ltd., Küster Holding GmbH, Mando-Hella Electronics Corp., Svenska Kullagerfabriken AB, ZF Friedrichshafen AG and Wuhu Bethel Automotive Safety Systems Co., Ltd. The top market players in the electric parking brake market are focusing on product development and innovation. Electric parking brake manufacturers are focusing on developing technological advanced and innovative solutions which can meet the changing customer requirements.

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