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. Increased consumer inclination towards traveling safety, comfort, convenience and stability in the vehicles has up surged the demand for electric parking brake. The main benefit of utilizing electric parking brake is that, it has electronic control unit, which can be assimilated with the other vehicle system to empower advanced functioning. The electronic parking brake does not implies any use of mechanical components such as brake lever and rope which decreases the interior cabin space is eventually subjected to increase the demand for electric parking brake in future.
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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. 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.
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On the basis of region, the global electric parking brake market is segmented into North America, Latin America, Europe, Japan, Asia-Pacific excluding Japan(APEJ) and MEA. Among these regions, the APEJ electric parking brake market is projected to exhibit relatively higher growth in the global electric parking brake market with a CAGR of over 9.0% during the forecast period. Revenue from the electric parking brake market in North America and Europe is expected to collectively account for more than 35% of the global electric parking brake market revenue in 2018. Key competitors in electric parking brake market are 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.
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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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