Electric Parking Brake Market Size is Valued at USD 12.00 Billion in 2023 and is Projected to Reach USD 25.31 Billion by 2032, Growing at a CAGR of 9.77% From 2024-2032.
IMR published a report on the electric parking brake market. The report includes the global industry analysis and opportunity assessment 2029. The report studies the global electric parking brake market and offers an in-depth analysis for the next ten years.
The report also covers forecast factors and macroeconomic factors that are anticipated to drive the growth of the global electric parking brake market. The report on the electric parking brake market also discusses latest trends and potential opportunities in the market across the value chain, along with restraints that are expected to hamper the growth of the market.
Key Prominent Players In The Electric Parking Brake Market:
- ZF (Germany)
- Continental (Germany)
- Chassis Brakes International (Belgium)
- Küster (Germany)
- Aisin (Japan)
- Mando (South Korea)
- Hyundai Mobis (South Korea)
- Zhejiang Libang Hexin (China)
- Wuhu Bethel Automotive (China)
- Others
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Global Electric Parking Brake Market Segmentation:
By Type
- Caliper Integrated EPB
- Cable Puller EPB
By Application
- Sedans
- SUVs
- Others
Geographic Segment Covered in the Report:
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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This study conducts a SWOT analysis to evaluate the strengths and weaknesses of key players in the Electric Parking Brake market. Additionally, the report performs a complex inspection of drivers and restraints operating in the market. The report also evaluates the observed trends in the parent market along with macroeconomic indicators, dominant factors and market attractiveness in relation to other segments. The report forecasts the impact of various industry aspects on the Electric Parking Brake market segments and regions.
Electric Parking Brake Market Trend Analysis
Increasing Adoption in New Vehicles: The mandate for advanced safety features in many countries is propelling the integration of EPBs in new vehicle models.
Shift Towards Autonomous Driving: EPBs are essential components for autonomous vehicles, as they offer precise control and integration with other vehicle systems.
Challenges and Opportunities
While the EPB market is thriving, it also faces challenges such as:
High Initial Costs: The implementation of EPBs can increase vehicle production costs.
Complex Technology: The development and integration of EPB systems require advanced engineering expertise.
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